Jump to content
House Price Crash Forum
Sign in to follow this  
Guest

Bbc 5 Live Am This Morning

Recommended Posts

Guest

At approximately 7 this morning, the usual cockney business "expert" was on. Two of his statements really p****d me off...

"the benefit cuts are strangling the rental market because landlords will refuse to put their rent down"

"banks are insisting on 20% deposits for mortgages - why are they worried? the loan is secured against the property"

That's just a paraphrase.... I vented my spleen at the radio and my wife said "I sense you have a lot of anger this morning" :rolleyes: (She's a bear too!)

Edited by Guest

Share this post


Link to post
Share on other sites

At approximately 7 this morning, the usual cockney business "expert" was on. Two of his statements really p****d me off...

"the benefit cuts are strangling the rental market because landlords will refuse to put their rent down"

"banks are insisting on 20% deposits for mortgages - why are they worried? the loan is secured against the property"

That's just a paraphrase.... I vented my spleen at the radio and my wife said "I sense you have a lot of anger this morning" :rolleyes: (She's a bear too!)

The "expert" was probably an EA or some other spiv heavily invested in BTL.

Share this post


Link to post
Share on other sites
Guest

He's on every day.... can't remember his name but I seem to remember he works for an investment bank. He's on every day.... not just a one off. Grrr.

Share this post


Link to post
Share on other sites

He's on every day.... can't remember his name but I seem to remember he works for an investment bank. He's on every day.... not just a one off. Grrr.

Don't listen to it. I prefer r4 propaganda - tells me what the Oxbridge educated minions are supposed to think - those Oxbridge types just love to blindly follow a consensus.

So, R4 suits my purposes - it's not the news. However, you can game theory it - try to work out what the establishment is trying to achieve via gaming their lies and spin

Morons.

Share this post


Link to post
Share on other sites

I think the original segment went out live at about 5:45 this morning you must have heard a summary.

The original interview was with the head of the the landlords association, I can not remember her name but she made my blood boil. Some of her comments below.

"Landlords will not cut rents when HB is cut."

"If the govt pays the rent to landlords direct again then we would accept a reduction for the security of payment."

"Currently 11% of housing benefit is not paid to Landlords but kept by the renter." - another scam here I assume.

"You do not get anything to rent for 400 pounds a week in London."

This lot have been living in the land of plenty with Nu Labour money when market forces hit them and the landlords refuse to lower rents to the HB brigade and then the HB brigade withhold the HB money then rents will come down very quickly indeed.

Coalition keep firm, keep paying the monies to tennents so they can hold the landlords to ransom force the rents down.

Edited by ralphmalph

Share this post


Link to post
Share on other sites

Always taken issue with these types living on housing benefit in London. I moved out of London (my home town) because I could adult end up paying 1000 a month in rent, just to live next door to some hb claimant with social issues

Share this post


Link to post
Share on other sites

Its the same reverse logic that banks have to lend to enable people buy at todays prices, as government has to pay to support todays rent prices.

finance in whatever form enables early borrowers to benefit....later ones, like the credit inflation that finance really is, pay the price with higher and higher finance.

You see, mortgages on homes is just inflation...pure and simple....of leverage.

as we have seen, inflate leverage too much, and the house of cards collapses as "real" cash goes in short supply.

Share this post


Link to post
Share on other sites

"banks are insisting on 20% deposits for mortgages - why are they worried? the loan is secured against the property"

But then didn't Declan (or whoever was on) then say something like "are they expecting prices to crash?"

And then they later went on to talk about interest rates rising later this year and the effect on mortgages repayments.

There's a little bit of bear in the BBC these days :)

Share this post


Link to post
Share on other sites

Complete Tosh. With lower HB payments, rental prices will fall. Some wont be affected, some will. Some will have a choice, accept a lower rent or no rent for a while until you find someone willing to pay what you want. Each will make their own varying decisions.

On HB, there should be a standard rate for the entire nation, not for different areas. If that means you have to move, I dont see the problem. If the state defaults on its obligations, that is a much bigger problem.

As for a 20% deposit, why on earth does anyone think that is a hefty amount? I would have thought that a 30% deposit would have been the mininum under any fair regulation, and the lower interest rates get, that figure should be increased. 40% or even 50% is needed now to protect the taxpayer from the banks needing another bailout.

Share this post


Link to post
Share on other sites

These talking heads are amusing. One rule fits them all... If they really believe what they are saying they are stupid, if they don't they are thieving scum trying to con poor financially uneducated people into a life time of misery for their own benefit. Stupid or scum, they're all one or the other.

Share this post


Link to post
Share on other sites
Guest

As for a 20% deposit, why on earth does anyone think that is a hefty amount? I would have thought that a 30% deposit would have been the mininum under any fair regulation, and the lower interest rates get, that figure should be increased. 40% or even 50% is needed now to protect the taxpayer from the banks needing another bailout.

I think 20% is fine for a deposit... once house prices are a fair multiple of wages.

Share this post


Link to post
Share on other sites

The "expert" was probably an EA or some other spiv heavily invested in BTL.

It sounds like it was Mickey Clark who has been doing "Wake up to money" for years on R5.

I stopped listening to R5 some time ago when it began to affect my blood pressure.

Share this post


Link to post
Share on other sites

some of these presenters and talking heads are possibly holding significant leveraged paper losses already

they may be trying to relieve their cognitive dissonance by shouting about it as loudly as possible - make bad thoughts go away shout at them

egotists on the way up, egotists on the way down

Edited by Si1

Share this post


Link to post
Share on other sites

I think 20% is fine for a deposit... once house prices are a fair multiple of wages.

20% Might be fine if income has been checked, and the bank has lots of capital to absorb the loss.

As we found out during the financial crisis, it is the taxpayer who are providing the unofficial capital for these banks, and that capital will be called upon due to the complete absence of regulation. I think that the taxpayer demands a far higher buffer, and 30% would be a minimum.

Even if we had a properly regulated mortgage system, not underpinned with taxpayer capital, 30% would be good for the buyer too, as prices would be lower. Banks might lose out though, as their borrowers would not be in so much debt. Would that be such a problem?

Share this post


Link to post
Share on other sites

Some silly cow on BBC 24 saying LL will not reduce rents, talking like LL are supplying some sort of service and doing us a favour.

We all know that a lot of the housing benefit the LL get is alot greater than they would get from the private renter. Lets see how well their business plan works out over the coming year.

Share this post


Link to post
Share on other sites

Easily solved.

A return to a Fair Rent officer deciding the rent based on say 1/4 or a 1/5 of local average wage. Not based on house prices wich pays scrounging landlords benefits by proxy, who then have the audacity to look down on their tenants. Which would then reduce house prices making them affordable to the tenants.

The aim should be to lower rents and house prices to as nominal a cost as possible while maintaining and improving quality of life. Which would then free up money for enterprise, leisure, life etc.

Share this post


Link to post
Share on other sites

At approximately 7 this morning, the usual cockney business "expert" was on. Two of his statements really p****d me off...

"the benefit cuts are strangling the rental market because landlords will refuse to put their rent down"

"banks are insisting on 20% deposits for mortgages - why are they worried? the loan is secured against the property"

That's just a paraphrase.... I vented my spleen at the radio and my wife said "I sense you have a lot of anger this morning" :rolleyes: (She's a bear too!)

I was listening to the cricket this morning but know who you mean - it's either Andy Verity or Mickey Clarke; both East End barrow boys ('Big Bang' children) who live in world a perpetual boom for equities, commodities, house prices. Think Verity lives in Sandwich and was rubbing his hands thinking East Kent property would rocket a few months ago. Presumably the news that Pfizer are making 2,400 redundant may prompt a change in attitude but he probably thinks they'll all become baristas in Broadstairs. Hah, what a putz.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.