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House Price Crash Forum


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Everything posted by crashbaby

  1. Trump condos are priced for "access to Trump", not market value. The actual real estate is mostly an accounting trick. Donald Trump net worth: I'm worth whatever I feel - Apr. 21, 2011
  2. The implementation needs work. If the flat is not legally rented out (with the registration number communicated to the tenant) then AirBnB did not have a right to take the tenant's money. Just create a streamlined process for the tenants to recover any money spent on unlicensed rentals in Berlin and then AirBnB will be open to the idea of removing them from the site. Companies speak money.
  3. I can't watch the clip as I'm still at work, but I think Carney wasn't campaigning for a public vote. He was just full of it. Lying will never be illegal, but lying in certain circumstances can land you in trouble (e.g. fraud, medical, etc).
  4. Yes, it should be out tomorrow: https://www.forexfactory.com/calendar.php
  5. They're as unaccountable to Brits as Sterling is to Scots. Control is shared among all the people using it, and convincing 28 countries to "print baby print" is not as easy as convincing one. Even if you want to reduce it to the representatives, it's not like Carney/Osborne/Hammond are held in high esteem around here. At least I'm not aware of the EU doing anything like TFS/FLS/etc
  6. Well, when you sell something for debt you lose control over it and they chose to give someone else control. I just with the lesson would catch on already.
  7. I don't think anyone is proposing rent controls as alternative to increasing IR. They're proposing rent controls because the market is broken and there doesn't seem to be much political will to fix the fundamentals.
  8. Have you taken a good look at the arguments there? They seem to revolve around the idea that only the more modest homes are rent-controlled, so landlords invest less in cheap homes and developers build more luxury homes. Strange how it never occurred to the author that maybe all rental stock could be rent-controlled. Oh, and the second argument is that rent controls "ruin people's lives" because going from a rent-controlled flat to a market-rate flat sucks because the market rate is higher. Somehow that doesn't convince me to hate rent controls. It's reasonable to be cautious and explore the consequences of rent-control, but that article is just crap. I don't think rent control is the best solution to the current housing problems, but it would still be an improvement over what we have now.
  9. You seem to be confusing the concept of risk with cost. It sounds like you are willing to expose yourself to risk in order to reduce cost, but that doesn't mean they are the same thing. Financial risk can be described as "willing to lose 200k in order to save 20k". The numbers may depend on location and everyone has their own point where they're willing to risk it, but let's not confuse the two concepts.
  10. That's not what you should be comparing. From the EU point of view, the question is not who is most affected by a 'No deal' but rather, 'Is a no deal better than giving the UK more favourable terms'. If giving the UK better terms would encourage other countries to leave the EU, then no deal is the preferred option. Whether it impacts the UK more than the EU is a moot point. In the end, it comes down to the fact that you can't have better terms outside the EU than inside it.
  11. They both cut interest rates and had some bailouts, but I don't think the ECB had an equivalent for Term Funding Scheme. Deciding to print your own currency and flood the market is easier than convincing 27 other countries they should spend/print to inflate your housing market back home. And whatever they did about it would be more visible and perceived differently (TFS is quite stealthy for the average person on the street). e.g. Spain uses the Euro and had a property bubble: https://en.wikipedia.org/wiki/Spanish_property_bubble
  12. Let's not forget the reason why they want to sell the flat in the first place: My first reaction was that some people are incapable of learning, but then again... it's just taxpayer money, so they're probably thinking if the government paid the first time they can do it again.
  13. That's on the way up. On the way down it's 0.88^5 = 53% of the initial price, so 47% down after 5 steps
  14. Sounds like HTB is the main reason why the market is not crashing yet.
  15. I think this is being discussed for 2019 and it hasn't been finalised yet. Source: https://inews.co.uk/inews-lifestyle/money/letting-fees-ban-2019/
  16. And falling they are: London property slump most widespread since financial crisis
  17. That works while the RightMove is still compatible with FF 56. Considering all browsers auto-update nowadays, not many would notice or care if it breaks for older browsers and it's probably not worth spending time & money to ensure compatibility. PropertyBee should just open-source the extension. Someone would fix it.
  18. Won't this backfire? More money would move from bank accounts into gold/stocks&shares/other assets, leaving less in the bank.
  19. I thought the issue was passporting after Brexit, and the free movement of bankers is irrelevant with regards to that. The EU wants to have control over its financial sector and thus ties market access to being inside the EU. Banks face stiff test for EU ‘passport’ after Brexit. I expect that anyone who can command a salary of 100k+/year will still find it easy to move to the UK after Brexit.
  20. Relevant for tenants from the pdf above: Page 9: Page 11: Page 12: Page 13: Page 15: That's great, but when will it actually happen? The bill hasn't moved since 2016.
  21. Great idea. I think it's important for step 1 to focus on the message: high house prices are bad for the economy and society, and show graphs which highlight that current prices are the top of a bubble (e.g. show the inverse relation between IR and house prices) apolitical by avoiding to name parties and individual politicians; instead, it should focus on policies and their effect with graphs and other objective data (e.g. show the spike in new build prices when the HTB 20%/40% was introduced so everyone can see they are not getting any help, they're just being pushed into more debt) any individual blame should be allowed to form in the mind of the viewer based on objective data rather than directly being part of the message make clear that we are sponsoring landlords with public funds (first via tax relief, and second because the housing benefit is placing a floor under rents). If this it mentions housing benefit then it needs to be compared to alternatives like council housing because most humans are sensitive to social issues remind everyone how taxpayers are still paying the bill with new bailouts (e.g. councils buying homes when the owners refuse to lower prices and meet the market) I'm not sure about the term "People Farming", it may come across as being a bit loaded. I would avoid saying "liar loans", the term itself is not clear and communicates very little. But I think the term "debt slave" needs to enter everyone's vocabulary. I think the essential message we need to convey is that we are at the top of a bubble, high house prices are unhealthy for the economy/society/families and that the prices are inflated artificially because the govt decides to do this. This would discourage people from taking up the inflated prices, create pressure on MPs to fight HPI directly and also reduce the odds of MPs giving landlords handouts. And the silver lining is it shows how those who brag about assets when they have a mountain of debt on their head are clowns.
  22. Why would they do a hard credit search for a savings account in the first place? What do they gain from it?
  23. If EU members don't recognise Catalonia as an independent state, doesn't that imply they consider Catalonia to be part of Spain and therefore inside the EU already?
  24. The guy didn't show at the trial. From the article:
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