bomberbrown

The Chris Pincher affair couldn’t have come at a better time (for Rishi, Sajid etc) 😉

I can’t help but think that Rishi, Sajid and the rest of them know the (economic) shit is about to hit the fan and they want to be as far removed from it as possible. I mean, imagine being the chancellor when inflation is 10%, house prices crash, energy blackouts etc. Mud sticks.

From the same mumsnet thread.

Britain (especially for youngsters) really is crying out for a young influential person (could be celebrity, pop act or politician) to expose this in the MSM, and 10% pension increase, as the generational transfer of wealth from the young to the older/bankers for what it is. So that the young finally get it. On the subject of 50 year generational mortgages themselves, I think these are going to be unworkable for a few reasons. Kids don’t want the debt, kids go to university and on gap years, kids might not earn enough etc etc

I remember a few years back on this website, one poster phrased this another way and it always stuck in my mind. I can’t remember it verbatim but was along the lines of: what we have had is a massive credit expansion, and house (prices) were the vehicle for that credit expansion.

Slightly off topic, but I’m curious. With £1BN going to Ukraine, will that have a deflationary effect, all be it very small in context, on UK economy?

Can you imagine the BoE coming out on national television and announcing that they'd royally screwed up and that it was now time to make some very difficult decisions. The 1967 devaluation of the pound - Cabinet Office 100 (nationalarchives.gov.uk) (I happened to have recently watched the episode of 'The Crown', which centred on this speech in 1967)

My immediate thoughts are the surrounding areas. i.e is there a new bypass going to be built at the bottom of the garden, does the neighbouring farmer allow noisy travellers to reside in his fields etc.

That's the thing, I don't think there is a 100% option. The article itself says they can borrow up to 60% of the value of the house, so right there, the ER business has already got a 40% margin/buffer.

If there was any business that I hope get burned by stupidly high house prices, it would be these Equity Release businesses, but I suspect they have huge margins.

Not one mention of the what must be the biggest expense everyone faces every month. Mortgage/rent. Oh no, high house prices = good 🤨

Oh, it seems that they haven’t even launched the Zero Deposit Mortgage yet. They’re just at the ‘registering interest’ phase. The above is simply their current offering, an IO loan alongside your mortgage. https://www.proportunity.com/blog/zero-deposit-mortgage

I just read more on it. As I understand it, it’s another mortgage (Interest Only @ 8.49%), but this time for your deposit! Jesus wept https://www.proportunity.com/interest-rates

I couldn't see this posted anywhere? New zero-deposit first-time buyer mortgage touted as Help to Buy alternative | Evening Standard (archive.ph)

Let’s also not forget ‘fofp’ and their excellent ‘k-winter’ post/thread

This prediction was spot on with last FED decision. I’m keeping an eye on it. The historical/probabilities section down the left side are interesting too. https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html Sadly, the equivalent BoE tool is not working. Convenient that 😉 https://www.cmegroup.com/trading/interest-rates/bank-of-england-watch-tool.html

OMFG! Imagine being an owner occupier in one of the first floor flats, to then find out you’re now getting a whole bunch of new neighbours moving into your attic space! I don’t know whether to laugh or cry?

I’m starting to see comments like this a bit more frequently on various comments sites (not just on this YouTube). I’m wondering if the penny is finally beginning to drop as FTB gradually get a bit wiser/older? i.e No value has been added to the house FFS, in a HPI boom, it’s just the asking price has increased for the same bloody thing!

https://youtu.be/G9EhNNutDgk?t=280 4.40 in. (my bold) Err... no, if it's not selling, then it's not priced correctly. 😕

Either the Canadian housing market works differently over there or Zohal Habibi is incredibly stupid? Making a legally binding offer on a house when you don’t have the funds/finance secured in place. Epic fail.

Well I dint know that valuable nugget of information.

Slightly off topic, but I would really like to see some meaningful statistics on this. My guess would be 40 hour week has dropped and 16 hour week has increased

I can’t see the difference between this (above DM article about raising mortgage rates) and a heroin pusher who has doled out practically free heroin to all and sundry for the last 15 years and now deciding they want to start reaping the rewards on that ‘investment’. It was always the plan.

Peter Schiff on the Fed. And that was with .75 increase. Wonder what he makes of the BoE .25 increase 😆

Ray Boulger, of all people, just on BBC Radio 2 4pm news saying that the IR increase is going to be good for FTB because……..wait for it…….it will start to bring house prices down. I never thought I’d hear that.