Realistbear Posted February 21, 2011 Share Posted February 21, 2011 (edited) http://www.guardian.co.uk/business/2011/feb/21/london-property-prices-bankers-bonuses London property prices boosted by bankers' bonuses • Asking prices for homes in capital rise by 4% in a month • Mortgage rules that favour super-rich add to buoyancy Bankers' bonuses and mortgage lending rules that favour the super-rich have pushed up house prices in London, resulting in a 21% jump in the number of people looking to sell their homes compared with a year ago, and a 4% rise in asking prices since last month, according to a leading property website. While property prices in the rest of the country are falling, prime areas of the capital are buoyant with more homes appearing in estate agents' windows with higher price tags attached..../ The monthly report from property website Rightmove paints a stark contrast between London's "elite market" and large swathes of Britain which remain frozen by a combination of falling prices and restricted mortgage finance. Seems that the banksters are creating their own world just for trhe super rich. Nice to see them being ripped off by higher prices though. We might soon see the thieves falling out among themselves. Edited February 21, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
fellow Posted February 21, 2011 Share Posted February 21, 2011 http://www.guardian.co.uk/business/2011/feb/21/london-property-prices-bankers-bonuses London property prices boosted by bankers' bonuses • Asking prices for homes in capital rise by 4% in a month • Mortgage rules that favour super-rich add to buoyancy Bankers' bonuses and mortgage lending rules that favour the super-rich have pushed up house prices in London, resulting in a 21% jump in the number of people looking to sell their homes compared with a year ago, and a 4% rise in asking prices since last month, according to a leading property website. While property prices in the rest of the country are falling, prime areas of the capital are buoyant with more homes appearing in estate agents' windows with higher price tags attached. Seems that the banksters are creating their own world just for trhe super rich. Nice to see them being ripped off by higher prices though. We might soon see the thieves falling out among themselves. Why on earth would the super-rich need loans? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 21, 2011 Share Posted February 21, 2011 Why on earth would the super-rich need loans? I've wondered that too. And why do "Cash buyers" appear willing to pay way over the odds for houses....I'm a cash buyer and I want to pay way under the odds. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 21, 2011 Share Posted February 21, 2011 Why on earth would the super-rich need loans? I've wondered that too. And why do "Cash buyers" appear willing to pay way over the odds for houses....I'm a cash buyer and I want to pay way under the odds. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 21, 2011 Author Share Posted February 21, 2011 Why on earth would the super-rich need loans? If the property is, say, £50m and you are a bankster who is on £10m with a £30m bonus you might need a top up of £10m until next year's bonus round? Greed knows no limits yer know. Quote Link to comment Share on other sites More sharing options...
tomandlu Posted February 21, 2011 Share Posted February 21, 2011 Why on earth would the super-rich need loans? Same thing that's been screwing us plebs for the past 10 years. If they're all chasing the same properties, then they'll be pushing the prices up to the level of whatever they can borrow. Being parasitical bastards, they're now preying on each other, and the dash for assets covers anything else. Well, that's my 10 cents worth on it anyhow... I do know for a fact that the rich are being advised to get into high-end property as a hedge against inflation... Quote Link to comment Share on other sites More sharing options...
fellow Posted February 21, 2011 Share Posted February 21, 2011 I do know for a fact that the rich are being advised to get into high-end property as a hedge against inflation... But who will buy it off them when they want their money back? Quote Link to comment Share on other sites More sharing options...
winkie Posted February 21, 2011 Share Posted February 21, 2011 But who will buy it off them when they want their money back? The same people who have been buying up all our football clubs. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 21, 2011 Author Share Posted February 21, 2011 http://www.guardian.co.uk/politics/2011/feb/20/george-osborne-bank-tax-plan George Osborne shelves bank tax plan Idea about preventing banks from offsetting losses from financial crisis against tax had been floated in opposition George Osborne shelves bank tax planIdea about preventing banks from offsetting losses from financial crisis against tax had been floated in opposition Share536 Jill Treanor and Matthew Taylor guardian.co.uk, Sunday 20 February 2011 21.02 GMT Article history George Osborne in Paris before a meeting with G20 finance ministers. The chancellor has introduced a bank levy. Photograph: Fred Dufour/AFP/Getty Images George Osborne has shelved plans that would have forced banks to pay billions of pounds in tax over the next few years, despite Barclays's admission that it paid just £113m in corporation tax in 2009. It is understood that proposals to prevent banks from offsetting all their losses from the financial crisis against tax have been dropped. The chancellor had floated the idea while he was in opposition. The ability to deduct past losses against future tax payments is expected to mean many of Britain's biggest companies will avoid paying corporation tax for years. It helped keep Barclays's tax bill down in a year when it rang up £11.6bn in profits. All the Banksters sing: We'll get by with a little help from our freinds..................... Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 21, 2011 Share Posted February 21, 2011 I've wondered that too. And why do "Cash buyers" appear willing to pay way over the odds for houses....I'm a cash buyer and I want to pay way under the odds. If you are a banker paying cash the price doesn't matter. After the purchase you just have to decide which way to get your money back via a larger bonus brought about by. 1) Hiding some "non perfoming core-assets" under the carpet 2) Increase your lending rate for business borrowers or mortgagees 3) Decrease your interest rate for savers Job done. Quote Link to comment Share on other sites More sharing options...
jethrotull Posted February 21, 2011 Share Posted February 21, 2011 If the property is, say, £50m and you are a bankster who is on £10m with a £30m bonus you might need a top up of £10m until next year's bonus round? Greed knows no limits yer know. There is no banker on a £10m base. I challenge you to name just one banker on a £10m base salary to prove me wrong. Quote Link to comment Share on other sites More sharing options...
jethrotull Posted February 21, 2011 Share Posted February 21, 2011 why do "Cash buyers" appear willing to pay way over the odds for houses.... In the luxury goods market shopping is about the experience, not the product. A hard negotiation can spoil it for some people, others need to feel it. Quote Link to comment Share on other sites More sharing options...
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