Timm

Thing is, people only pat EAs because they don't want to / can't sell their house themselves. Likewise, EAs pay Rightmove because they can't do the job themselves.

Do keep up! https://www.theguardian.com/politics/2023/nov/26/labour-grassroots-back-starmer-gender-self-identification

I agree. TBH, it will take a while to get these policies into place, by which time prices could have fallen, along with land values and councils could step into the shoes of bancrupt builders. Ahh weel, one can dream...

And here is what they *could* justify with that text: A housing recovery plan; a blitz of planning reform to quickly boost housebuilding to buy and rent and deliver the biggest boost to affordable housing in a generation, enhancing local voice on ‘how’ housing is built with communities confident plans will be delivered "This is how many homes your community will provide, now, where do you want them? The next generation of ‘new towns’; new communities with beautiful homes, green spaces, reliable transport links and bustling high streets We are going to buy up low quality agricultural land at current prices for housing. Unleashing Mayors; a package of devolution to Mayors, with stronger powers over planning and control over housing investment We are going to allow Councils to borrow money to build houses. ‘Planning passport’ for urban brownfield development; with a fast track approval and delivery of high-density housing on urban brownfield sites Build it or lose it - no landbanking. First dibs for first time buyers; supporting younger people the first chance at homes in new housing developments with a government-backed mortgage guarantee scheme. Any Nimbies resisting this are just stealing from those poor youngsters.

I've got some simple ideas for them: 1. Ressurect the Regional Spacial Strategies that Cameron killed in 2010. These broke down national housbuilding targets and forced them down onto the regions, who then had to break them down to areas. It was then for local planning authorities to decide where to put the houses, not how many to allow. https://en.wikipedia.org/wiki/Regional_spatial_strategy 2. Allow / force local councils to identify new land for housing. https://www.bbc.co.uk/news/uk-politics-65619675 https://www.planningresource.co.uk/article/1848275/natural-england-chair-calls-homebuilding-green-belt 3. Allow this land to be purchased at current value (not housbuilding value). https://www.planningresource.co.uk/article/1848275/natural-england-chair-calls-homebuilding-green-belt https://en.wikipedia.org/wiki/Planning_and_Compulsory_Purchase_Act_2004 https://www.gov.uk/government/consultations/compulsory-purchase-compensation-reforms-consultation/outcome/compulsory-purchase-compensation-reforms-consultation-outcome 4. Allow developers permission to develop on the land. But if any homes are not available for occupation within five years, a financial penatly must be paid and the right to develop lapses. https://www.gov.uk/guidance/use-of-planning-conditions 5. Allow Councils to borrow to build and then rent out / sell the resultant homes. If sold, the money goes to build more homes / infrastructure. https://www.housingtoday.co.uk/news/45-of-councils-now-have-build-to-rent-in-their-pipeline/5118536.article I'm not sure those ideas would go down well, but the legal structure for all of them already exists / used to exist / has already been announced / is in advanced development, so it could be done if the political will was there to do it. If I was going to do it, I would bury the intention in the manifesto just before an election. Because these things are not new ideas, I think it could be done without spooking the horses. Edit - posted a link twice

I'm not sure they really kmow themselves: https://labour.org.uk/wp-content/uploads/2017/10/Housing-Mini-Manifesto.pdf

Furious council leaders warn chancellor that austerity measures could force ‘flagship blue counties’ to go bankrupt https://www.theguardian.com/politics/2023/nov/26/jeremy-hunt-budget-cuts-chancellor-threat-flagship-councils-england-bankrupt There will be a significant increase in the number of councils in effect “returning the town hall keys” to government because they are no longer sustainable, according to council leaders. In a furious response to the autumn statement, they said several “flagship blue counties” could go bankrupt just as next year’s election is called.

This needs its own thread IMHO.

The job of BOE guvner seems to be mainly talking tough and looking stern. They should get Vinny Jones to do it.

Is it just me, or are the size of the PRs reducing? Seems like there used to be a lot of 30% reductions, now its more like 25%.

Gosh. So much to unpack. But let's start with the headline: "The less you spend on a car, the more you can spend on other things" The final line of the copy makes it clear that the "things" you can spend more on are "Michelle and Tammy and Alison" I'm all for buying cheap cars and spending more on real life, but women are people - not things.

Rules is fancy, serves good game*... And not quite as expensive as you might think. https://rules.co.uk/wp-content/uploads/2023/10/NEW-MENU-OCTOBER-2023-front.pdf *mainly birds - I'm now guessing you mean rabbit or such like

It's not the prices that are the problem - it's the debt. In a deflationary spiral, where the over-indebted rush for the exits, they actually push up the value of remaining debts, pushing others over the edge. It is the combination of both—the debt disease coming first, thenprecipitating the dollar disease—which works the greatest havoc. (...) deflation caused by the debt reacts on the debt.Each dollar of debt still unpaid becomes a bigger dollar, and if theover-indebtedness with which we started was great enough, the liqui-dation of debts cannot keep up with the fall of prices which it causes.In that case, the liquidation defeats itself. While it diminishes thenumber of dollars owed, it may not do so as fast as it increases thevalue of each dollar owed. Then, the very effort of individuals to lessentheir burden of debts increases it, because of the mass effect of the stampedeto liquidate in swelling each dollar owed. Then we have the great para-dox which, I submit, is the chief secret of most, if not all, great de-pressions: The more the debtors pay, the more they owe. The more theeconomic boat tips, the more it tends to tip. It is not tending to rightitself, but is capsizing. https://fraser.stlouisfed.org/files/docs/meltzer/fisdeb33.pdf

Core CPI 5.7% YoY Both 0.1% less than than expected.

This is true. And not all people in Gaza are Hamas. Not really. There is too much hatred on both sides. And both sides have made that so very much worse recently.

Well done Stewy. 👋

CPI expected to be 4.7% tommorrow. I doubt that would be low enough to trigger cuts in base rate.

Prices will go up, inflation will go up, rates will have to go up. This would be a bung for seller / builders, paid for by existing debtors, including the BOE and the taxpayer.

This is the future. Unless you were there, you will never know the truth.

Download from the link: https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey The headline figure is -65%, against -69% last month. It's worth a read in full actually. They are still downbeat, but Northern Ireland and Scotland seem to be doing much better, which seems to be skewing the stats.

As it turns out, it does work like that. Because they are selling the bonds, not just holding them all to maturity.

No change, as expected.

+ 0.9% MoM - 3.3% YoY https://www.nationwidehousepriceindex.co.uk/reports/house-prices-increase-in-october-but-remain-lower-than-a-year-ago Bah.

Utterly.

I agree. £1800 mortgage payment plus £600 car. That leaves them with £300 each for everything alse? If they have £425,000 at 1.5%, that does come to about the £1800 mortgage payment quoted. But that will go to £2970pcm at 6.7%.