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House Price Crash Forum


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Posts posted by @contradevian

  1. Gross incompetence?

    Deliberate incompetence so it can provide the political justification for 'rentierisation'

    For example we are about to loose our HRI here in Huddersfield.

    The plan is to rent an old mill for £0.5M a year. It doesn't need to rent anything, it already has a site.

    The main function of the NHS seems to be to bail out Tory donors and PFI participants!

  2. King got very lucky with his pension, just as central banks were going into mental mode and dump intersts rates their own pension fund sold pretty much everything and bought tips, 70% of the whole pot IIRC, how lucky was that!?! For years the Bankrupt of England had performed pretty badly, suddenly it outperformed like never before.

    No wonder no hardly any other bankers were taken to court and slammed away for market manipulation and insider trading, when they were at the core of it themselves.

    I believe the BoE pension fund dumped equities and suddenly bought inflation proofed gilts, not available to ordinary mortals

  3. I think it is changing and will continue to change, but it's going to be a slow one. Labour lost Scotland, the Blairites lost Labour, the Lib Dems lost 49 MPs and have gone from being a Serious Party Of Government to minibus territory. The plebs are angry and they will continue to sack politicians who don't stick up for them until somebody comes along who does.

    But the governing rentier/banking party is 14 points in the lead, in opinion polls even though it could implode over Brexit. Hmm


  4. Very true,to ensure a CI works for the long term a Land Value Tax will be crucial.Thats probably what has stopped one so far.Our current welfare system sucks wealth from the middle class and working class who work,launders it through the welfare system and hands it to the rentiers.Keeps working people down and ensures the rentiers dont swing from lamposts.Fantastic system....for them.


    Nailed it!

  5. Not a problem where I am living. Social rents about equal market rents for one bedrooms. Social rent is now £71 pw. The BTL's rented in my block are £30-40 a month more. Not much considering the landlords are leaseholders having to pay a service charge to the Council (unsure what that is).

    Might be worth staying and paying a small premium if need be for the benefit of a secure tenancy.

    Also unless I'm mistaken this applies to new tenancies? Don't recall being notified of a change to the tenancy agreement, which I regard as a binding contract.

  6. I'm not sure Landlords can sell their stock to ordinary individuals. There isn't the money and there isn't the credit available.

    The lending terms to individuals and the multiples are so much less that they can't afford the bloated prices they currently sit at.

    They don't have the tax advanatges and they don't have the rents to count towards the loan nor the far looser standards.

    Hence why so many people have been tempted to circumvent the strictures by pretending they're landlords.


  7. That's like saying that there's demand for the mafia because some people like pizza.

    There is a need for short term accommodation, no question about that. It's just that this has nothing really to do with landlords.

    Landlords only provide housing as a front for their real business - taxing land. They exist because politicians make it so, not because there is demand for them.

    There has never been nor ever will be any demand for the services of a landlord, because they provide no service whatsoever.

    Rent, like all taxes, is paid to avoid banishment, imprisonment or some other threat. Certainly not because of demand.

    Absolute, banged to the mast SPOT ON! +1

    Most sensible post for ages

  8. Vicky Price (Chris Huhnes criminal former wife), was on BBC wake up to money this morning.

    She was asked about UK debt levels. Her answer was "nothing to worry about, we can print as much money as we need".

    If attitudes like that are common in the government / BoE, I think it is safe to say the pound will be going a lot lower.

    (on a side point, how hard would it be for wake up to money to get a rent a gob economist without a recent criminal record)

    Its who gets the printed loot though. They only print it for themselves. Corrupt elite that prints its own cash, or borrows it at minimal cost

  9. ONS data is persistently leaked. Even today as the data on unemployment etc was in line with expectations there were no major movements in price.

    It must be a nice little earner for the journalists with early access to the info, and a little IG account somewhere in the wifey's name

    (I'm jesting as the big players are needed to move price)

  10. That is the truth of it, tenants should have a lot more security in their own homes than they currently (if tenants had such security in general but provisions allowed for people to rent out their own property on an amateur basis with no such security of tenure, then rents for such properties would naturally be significantly lower than the market average in order to reflect this poorer quality of service) but equally anyone who considers in engaging in landlordism for any reason has a responsibility make themselves familiar with any relevant legislation and its practical application, including the amount of security that tenants do currently have. There is no excuse for proceeding in ignorance and then trying to avoid taking any personal responsibility for that when it comes back to bite them on the @rse.

    If the landlord in question had only gone to the effort of making themselves familiar with current legislation and practice then they would have known to issue an eviction notice at an earlier point, and saved themselves from this problem which is entirely of their own making (and yes, probably are greedy as well as ignorant for doing so, because they likely wanted to keep the property tenanted and rent coming in for the entire period they were not resident in it, right up until the last few days, rather than leave adequate time to properly deal with an eviction process). It is utterly ridiculous - childish even - for them to have not familiarised themselves with the current reality on the ground, as if they believe they live in an idealised world in which they can assume the best of all possible outcomes (from their perspective) and consider that to be adequate and reasonable planning.

    They chose to rent out their property. There are responsibilities and repercussions that go along with that. If they weren't happy with them then they should not have rented it out at all. If they didn't even bother to consider them or to research them in any way then they have noone to blame but themselves for their current predicament, and they are not really fit people to be in control of anyone else's provision of shelter IMO.

    Already exists. The 'home owner' could have put their properties on tripadvisor as holiday/serviced apartment lets.

    Rents would be even higher, but I assume the home owner wanted security of income whilst he was away. That is basically the purpose of an AST. The claim is that it provides the tenant with security of tenure (when it does not) in reality it guarantee's the rentiers cash flow for the term, for the tenant is liable if he leaves within the term.

    Cake and eat it, spring to mind

  11. Homeowners are getting a ginormous "tax credit" via HPI

    Were it not for HPI think we would be seeing a lot more strikes and 70's style dispruption.

    For example the Junior Doctors. Well paid relative to most of population but many will be struggling to get on the property ladder to claim their 'tax rebate' in the form of HPI

    For the renter serf's there is always Wonga

  12. Well I don't really qualify for social housing at all. Apart from having a family connection to the area. But like the lottery really but occassionally you get lucky. A property comes up. the LA rattle through the list, ex-cons, probationers, pill poppers, people with ADD, druggies etc and they sniff and turn their noses up because they aren't decorated, or too far from the bookies, or the lottery winners haven't got their phone's turned on so the ALMO staff rattle further down the list and get to people at the bottom of the pile. They are not allowed to keep them empty for long as it looks bad.

    There is a high rise near where I live, and virtually anyone will get an offer eventually. Very high turnover despite a secure tenancy, and very little competition. Bit of a poisoned chalise though as I doubt if many would want even if they were offered it.

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