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  1. My money is on the reintroduction of MIRAS.
  2. What happened in 2015 / 2016 to precipitate the fall off the cliff?
  3. To my mind they can't afford to build on these plots, to do so would mean marking the land value to market. Assuming the builders have been using the value of previous purchases of land as leverage to buy more based on pie in the sky values. If they build on the land and sell at real market values that will instantly devalue their land banks and the value that the banks are holding as assets. 400,000 plots with a "value" say of 100k per plot. That's 40 billion. If the reality price is 50k per plot who is going to take the 20 billion hit? Builder goes pop and the bank (government) is holding the baby
  4. I prefer the tale of the 2 Irishmen and the horse. Patrick: That's a beautiful horse you have there Michael, I'll give you £100 for it. Michael: Ok then. a week later Michael: I sure am missing that horse, Tell you what I'll give you £200 for it Patrick: Ok then. a week later Patrick: Sure that is a beautiful horse and I should never have let you have it back. I'll give you £400 for it. Michael: OK then. And so on and so forth for weeks with the two men borrowing as much money as possible from whoever would lend it. After a few months with the horse now changing hands for millions.... Patrick: I should never ever have let you have that horse. I'll give you 100 million for it. Michael: Sorry to tell you this Patrick but the horse has died. Patrick: That's such a pity we making a great living from that horse.
  5. Not just bonuses.. Phil Bentley, chief executive of British Gas, led the field with a basic salary of £1.3m in 2010, which was enhanced by the exercise of share options with a "theoretical aggregate gain" of a further £2.7m. Sam Laidlaw, chief executive of the wider Centrica group that owns British Gas but also other businesses, earned a basic salary of £2m last year with a further £250,000 paid into his pension. Laidlaw also held at the end of last year an additional 711,642 shares awarded by Centrica – worth a further £2m at today's prices. Linky
  6. Its as I thought...Lloyds TSB agreed to a three-year, exclusive arrangement to take Northern Rock loans that amount to no more than 80 percent of home values, Bloomberg Link So who picks up all the 125% loans then.
  7. The key to this is in "selected NR mortgage holders". Looks like TSB will cherry pick the non subprime ones and leave the taxpayers with the ones heading for foreclosure. The "selection" criteria should be made public.
  8. Leave him alone and stop taking the pi55. He only wants to put a hoof over his head.
  9. A litigation specialist has warned of a link between the sharp rise in unsecured personal borrowing and the soaring number of repossessions. Probably stating the obvious, but nice to see it on a VI site.
  10. Last paragraph above was missed out by the OP. So in London we have 57% of agents saying that demand out strips supply and in the rest of the UK we have supply outstripping demand by 63%. I would think that the rest of the UK has significantly more agents than London alone so that means that nationally there is a distinct over supply of rental properties. VI Spin again neatly served up by the BBC without question.
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