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House Price Crash Forum


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Everything posted by @contradevian

  1. You need an 'entitlement' to claim CAP. And from what I can gather they get bought and sold too! You can even 'rent' an entitlement to CAP! http://www.townsendcharteredsurveyors.co.uk/entitlements-wanted-2013-c130.html Be nice to have a working tax credit 'entitlement' and be able to sell it on the open market for cash! lol
  2. Well according to Share The Rents http://www.sharetherents.org/articles/scotlands-bank-backed-land-grab/ But basically the farming subsidy is to buy land not grow food. The real 'crop' is to harvest land subsidies and entitlements to subsidies, only nieve fools thinks its actual food that you eat.
  3. The obvious solution would be a basic income for everyone. Ideally taxed out of land rents
  4. The origins of tax credits began under Heath in the 70's when they were called FIS or Family Income Supplement. Benefit of hindsight. The aftermath of 9/11 economists feared global recession, and Brown went off the rails with spending I agree and blew an even bigger bubble (going into housing - as usual). Previously he'd stuck with Clark/Major spending limits.
  5. Lot of Tory boys trying to pin everything on Brown. I suspect we'd have had the same scenario under the Tories. Probably worse, especially as they were wanting even less bank regulation than even Brown. The only difference maybe less of a tax credits mess, but of course have created a mess of their own with Universal Credit. Unless employers can come up with proper paying jobs, this is going to unravel very quickly for the Tories.
  6. He has overspent, probably should have spent less than £30k to successfully flip
  7. Basically agree, but any improvement in workers situation will most likely just increase in rents and end up in land. I've no doubt some of the bonuses and dividends that WH Smith's pay out will end up in land somewhere. Its land reform and taxing land as high as possible that is key and taxing everything else as little as possible that is key.
  8. The surplus of profit and wages all go into 'land rents' anyway. In SF/Bay area the one's really making out are the landowners and landlords who did absolutely nothing to bring about a tech boom. Just hitched a free ride on the enterprise of others. Certainly a problem that needs tackling with automation/robotics just around the corner. Or the main beneficiaries will be land owners
  9. The woman on Question Time didn't. She rents apparently and pays quite a high rent so her landlord might have! So part of her £400 'package' is funding her landlords mortgage (if he has one). This is what really annoys me though. The financial crash was basically a crisis of private debt loaned mainly on property, yet it was successfully rebranded by the Tories as a crisis of public debt which has enabled them to carry out, basically a class war in an entirely bogus austerity programme. Yet the real culprits, those that borrowed up to the hilt, lied about income to get on the 'property ladder;' have been left totally unscathed. I suppose these are the so called 'strivers?.' Indeed they have suffered no 'austerity' at all, as thanks to QE and ZIRP their borrowing costs were slashed, and they were further rewarded by more house price inflation, to help inflate away the debt (despite apparent deflation in the real economy). If you were a landlord, you will have had benefited from the windfall of lower borrowing costs, none of which was passed onto tenants (and onto the State, if the tenants are on housing benefit).
  10. Governments have 'nudged' people into bad economic decisions over decades. Long term unemployed were nudged into sickness benefits under Thatcher to hide the figures. Then baby farming became profitable, until the baby farmer gets too old and is faced with old age penury. Finally long and short term unemployed were 'nudged' into highly marginal self (un) employment with the help of tax credits. Indeed someone I know in London has moved off JSA to become a 'self employed painter and decorator) thanks to tax credits. His hostel rent is a ridiculous £148 a week, so he has is going to have to be very successful just to pay that! I doubt very much thelady on bbcqt would ever earn £400 a week running a nail bar from her living room, or has any incentive for it to be a success. That said, given these bad economic choices people have made because of the State, people should be given time to adjust. No way would our parasitic rentier elite tolerate having their 'benefits' (sorry subsidies) cut like this. Giving people time to adjust to the changed economic decisions would be the 'right thing to do' in my opinion. Sooner or later though the Tories are going to have to come good on proper job creation and actually start creating some for the masses. Can't see it happening myself with China dumping and robotics and automation just round the corner. But the job numbers are going to take a knock once the self (un)employed start signing on again. Love how people bought into the 'scrounger' rhetoric that everyone on benefits has a full Sky package and spends it all on booze and fags, only to discover the Tories mean't them!
  11. Having lived in a container, they are most certainly NOT the solution. Dorkin's nails it. The benefit from cheaper housing merely transfers to the landowner because that is what happens under rentier crapitalism. Quite easily fixable my socialising the economic rent (ie LVT).
  12. Always thought there is a risk of London boomers, pumping up house prices in the regions when they retire, as they sell up and buy Norfolk, Devon etc
  13. Its probably worth the piece of mind to rent from a bank, rather than some fly by night 'mom and pop' rentier
  14. Don't entirely buy this argument. Friend with £270k IO mortgage only paying £600 a month I think. Unbelievably was £270 pcm (I saw the mortgage statements from the Chelsea). If you've got the equity/deposit you can 'own' a 3 bed semi for less than room rent Oh and being self employed, he got a BTL mortgage, and lives in the property. He was looking for someone to 'fake' an AST which he might have found, so he has a rent slave paying the mortgage, but he can live there as well.
  15. Daft suggestion I know, but refer to your tenancy agreement for compliance
  16. Why on earth can't Council's revalue Council tax bands, and create an extra one for mega properties.
  17. Its understandable. They got round the problem of 'economic rent' that befuddled the classical economist Adam Smith, Mill and Ricardo, by no longer teaching classical economics in schools. Basically surplus from wages and profits goes to rent and so to 'the rentiers that make money in their sleep.' You can see the effect in the High Street. Cheap stuff from Chindia, free staff (or on zero hours) so what is the effect of this on "rent?" Tax rentierism and there would be no one on zero hours contracts, fewer on minumum wage, and probably much fuller employment. The only obvious solution is the one that is never taken of course. What was the obvious outcome of dual income households? Well higher house prices, through higher land values. This great 'capitalist' model has resulted in housing that is unaffordable, and land that is too expensive to grow food on. We are constantly told the only alternative is 'dangerous socialism' hmm. It isn't. If the Government were really on 'our side' it would strive to lower the cost of living and preserve our competitive edge. It would squeeze the rentiers out of existence but instead they have created a tollbooth economy from education to energy supply, where the populace would be powerless against price gouging.
  18. Oh you mean like Latvia. Sorry but the neofuedalist rentiers of the Chicago School got there first. Latvians had to leave because they couldn't afford to live there. Sound familiar? Sure. If we could just shoot/hang all the faux free market 'libertarians' then yes, everyone would go home
  19. One of these days there is going to be a major fire, and a whole world of grief is going to come crashing around their ears.
  20. My parents first colour TV was £350 in 1971 and it was only 19' and only got 4 channels Wish they had held out cos they could have got a flat panel TV from Tesco with a bigger screen and Freeview for just over a hundred. Oh hang on, they are now dead. What people should be asking is why is 'stuff' cheap and housing hideously expensive. Sometimes you watch this old re-runs of old game show showing 80's tat like HiFi's and you think, "thats quite expensive." If housing were subject to the normal laws of capitalism rather than the neofeudal laws of rentierism, then a house would be a few years wages and you could order one online. I posted a link yesterday. I suggest people read it. Industrial capitalism was supposed to free us from the bondage of feudalism. Yet since the our de-industrialisation, we have merely re-instated the robber barons. All the gains of free markets and white heat of technology went to the rentiers.
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