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stuckinlimbo

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Posts posted by stuckinlimbo

  1. Living in social housing as an MP doesn't mean that you should not be able to criticise the government for not having any solutions to the housing crisis. I think an MP who lives in social housing has a better idea of what their constituents need than an out of touch MP who has never set foot in a council estate.

    Let's be honest here, this is about silencing an MP who brought up housing issues by smearing them as a socialist.

    If there are 23,300 people waiting for housing, the question should be why the government not giving the other 23,300 somewhere to live.

  2. I think quite generally, people have come round to acknowledging that prices may have softened. In practice, we are seeing in place like the data from Zoopla today that sellers are accepting lower offers. The general population is generally quite oblivious when it comes to house prices, they generally take the word of whatever a VI had said to ramp up prices when they were buying or whatever they hear on property shows on the TV. They live in the belief (hope really) that their property is their pension, it is generally the only asset of value that they will own in their lives.

    Speak to people outside HPC and you will notice that it is quite hard for them to hold the thought that prices could fall in their head.... its like telling someone the world is spherical for the first time. Moving Home With Charlie has chronicled how we have had a year of the media denying that prices were falling, and suddenly notice how the narrative has shifted towards the case of prices falling as something that has ended, and is now about to go back to growth as interest rates are no longer going up.

    The BoE predicted that it takes about a year and half for interest rates to take effect, so I expect the 'prices falling had ended' narrative being replaced by the 💎🤲 Diamond Hands... HODL .... 'they are going to the moon' narrative for the next six months.

  3. 1 hour ago, PeanutButter said:

    Love this comment on that thread:

    Quote

    I think it looks a bit odd to be dropping the price so soon, and it would make me think if I was stalking new listings in the area that you’d had zero interest and believed you’d massively overpriced it so dropped immediately. 

    I think there’s something about holding steady, looking confident, and giving the impression that you believe you’re worth what you’re asking.

     

  4. Quote

    NatWest has downgraded its profitability outlook and warned that competition for savers’ cash is putting pressure on its finances, sending its shares plunging.

    Investors were spooked by a predicted drop in the bank’s net interest margin (NIM), which accounts for the difference between what is charged for mortgages and paid on savings and is a key measure of banks’ profitability.

     

    NatWest said it was having to make larger payouts to savers who had been shifting cash from current accounts, into fixed-term savings accounts that offer higher interest rates. That trend had been compounded by a simultaneous easing of mortgage rates, which have been cut in order to promote mortgage take-up among borrowers who have been put off by higher costs.


    https://www.theguardian.com/business/2023/oct/27/natwest-shares-plunge-after-bank-downgrades-profit-outlook

     

    Looks like even the banks were hoping that interest rates would be on their way down, but the reality is finally catching up with their share prices. 
     

    You can either compete for savings or offer mortgages at low rates, not both. 

  5. 9 hours ago, dances with sheeple said:

     

    "Faces", as if it is a bad thing, LOL. Did anyone see the panorama programme on mortgage debtors ("homeowners") last night? For them it is a bad thing, one couple even had to lower themselves to the wife going out and getting a job to pay the bills!

     

    Gasp! Horror! The twin landlords that might have to work for another two years because they thought their BTLs were going to let the f*****s retire early. 

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