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House Price Crash Forum


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Everything posted by darkmarket

  1. More or less agree with this, except maybe even the billionaires don't seem any more content than the rest of us.
  2. Seems like he has trouble keeping his word, from his wiki:
  3. Persimmon faces loss of Help to Buy homes contract Anger as Persimmon set to post £1bn profit Britain’s most profitable housebuilder faces being stripped of its right to sell Help to Buy homes after allegations of poor standards and punitive hidden charges. James Brokenshire, the housing secretary, is reviewing Persimmon’s participation in the government scheme, which accounted for half of the homes it built last year, The Times has learnt. Since Help to Buy was introduced, Persimmon’s profit per house has almost tripled, rising from £22,114 in 2012 to £60,219 in 2018. Half of the 16,000 homes the company built last year were sold under the scheme, which is designed to boost home ownership. https://www.thetimes.co.uk/edition/news/persimmon-faces-loss-of-help-to-buy-house-contract-nlrq02q7h Designed to boost debt dependency and fake gdp, but not a bad effort.
  4. Yes, immigration at 300,000 / yr, and I suspect it might be much higher, would have a greater impact on the marginal buyer than the 20% or even 40% of credit coverage provided by HTB, especially as that could easily be replaced by another vehicle. It's another part of the infinitely available credit supply that's running out. It's worth keeping in mind how important new entrants are for a pyramid scheme, supply in numbers is more difficult than credit, especially when transaction levels are so low. Yes, that's insanity. But there's a difference between a sensible conversation and a topic that becomes taboo, and that's why immigration did become an elephant in the room. I'd say credit was the bigger one, but nothing should be off limits for conversation.
  5. Plus facebook all in one link. Post a summary, please.
  6. Slowly but surely, while you figure out what's going on, can you stop posting things that are completely irrelevant to house prices and the economy?
  7. I think the existing petition system requiring a 10% threshold to hold an election could be relevant here. It's been used a few times recently.
  8. If it wasn't obvious, half the country is infected with this disease and it touches all political parties.
  9. "It's just like making a rough estimate, giving a credit rating to a country is nothing but a board game." - Jerome Fons (Former Director of Moody's).
  10. I'm still waiting on @Meerkat to enlighten the idiots with some expert economics.
  11. No doubt they have an expert opinion and it's just that they haven't been invited to share it. Not like they were doing anything risky after all.
  12. If I felt my gambling habit was clouding my professional judgement when I was managing public funds, I like to think I'd have the decency to quit and find another job.
  13. Shocked. So have all councils appointed hog-in-trough BTL investors to manage their entire portfolio, or is it just the 100% of those we've looked at so far?
  14. EYE NEWSFLASH: Profits warning from Purplebricks Purplebricks has released a trading update this morning cutting group revenue and profit guidance and replacing divisional CEOs in both the UK and US, after short tenures. ...This morning’s statement also said that Purplebricks’ UK CEO Lee Wainwright, appointed about a year ago, will shortly be leaving the business. It said the departure is for personal reasons. The American CEO Eric Eckardt is also leaving, after two years. Group CEO and founder Michael Bruce is taking over as day-to-day leader of the US business with immediate effect. In the UK Purplebricks group chief operating officer Vic Darvey takes over as CEO. He joined the business only in January from MoneySupermarket. https://www.propertyindustryeye.com/eye-newsflash-profits-warning-from-purplebricks/
  15. Yes, this is an interesting line: That appears to be the argument underpinning the case, I don't think they'll get too far with that. Australia's gambling problem is well known but people who play pokies aren't considered high-status. For some reason, it's considered socially acceptable to take leverage to these extremes and play with your three children's futures as long as the gamble is property.
  16. Such innovation, these entrepreneurs have really built up an anti-fragile investment portfolio. Before they do any more harm, can't we just drop the act and admit they're bankrupt?
  17. As events unfold that contradict your worldview, you're going to need to adjust it.
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