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goldbug9999

City Am Full Of "good News" This Morning

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Alternative take on the latest housing market data (from an EA website!)

NAEA paints bleak picture of first-time buying
http://www.propertyindustryeye.com/naea-paints-bleak-picture-of-first-time-buying-as-major-chains-say-its-hit-record-level/

Number of property sales fall – despite what HMRC would have us believe
http://www.propertyindustryeye.com/number-of-property-sales-fall-despite-what-hmrc-would-have-us-believe/

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Good news on the inside pages.

The elephant in the room was splashed across it's front page. China's Collapse.

How anyone could believe the rest after reading that is beyond me.

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"Landlords are losing billions every year, the study suggests, as rent arrears, damages and repairs are costing close to £10bn annually."

--- Thanks that cheered me up a bit.

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Alternative take on the latest housing market data (from an EA website!)

NAEA paints bleak picture of first-time buying

http://www.propertyindustryeye.com/naea-paints-bleak-picture-of-first-time-buying-as-major-chains-say-its-hit-record-level/

Number of property sales fall – despite what HMRC would have us believe

http://www.propertyindustryeye.com/number-of-property-sales-fall-despite-what-hmrc-would-have-us-believe/

"The figure, both “provisional” and “seasonally adjusted”, is up 3.1% on July’s sales and 5.7% higher than August last year.

However, when “non-adjusted”, sales figures were actually lower – down 7.4% on August and down 1.9% on August last year."

Does that make sense to anyone? How can seasonally adjusted figures be up YoY but the nominal down YoY?

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"The figure, both “provisional” and “seasonally adjusted”, is up 3.1% on July’s sales and 5.7% higher than August last year.

However, when “non-adjusted”, sales figures were actually lower – down 7.4% on August and down 1.9% on August last year."

Does that make sense to anyone? How can seasonally adjusted figures be up YoY but the nominal down YoY?

I still don't understand this 'seasonally adjusted' stuff. What does it actually mean? Why don't they just give the actual figures?

I have asked here before, but nobody seemed to know, or if they claimed to, the explanation made no sense to me.

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How can you have seasonally adjusted year on year? Like what? Years with a 4 in the end have higher volumes and prices than years with a 5 so got to adjust up?

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I still don't understand this 'seasonally adjusted' stuff. What does it actually mean? Why don't they just give the actual figures?

I have asked here before, but nobody seemed to know, or if they claimed to, the explanation made no sense to me.

I can understand it on an quarter-on-quarter basis: Q4 (Xmas) is blow-out quarter, Q1 (Jan-Mar) is depression zone at the best of times but YoY? Why oh why?

ED: Frick got in there before me. Must put beer down before typing!

Edited by yellerkat

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Strange?

Could the buy-to-let boom be coming to an end?
The possibility of lucrative returns may have prompted many to invest in a buy-to-let property, but a new study suggests being a landlord may not be such a sure-fire investment after all.
One in five landlords are forecast to be out of business within the next two years, according to the annual Landlord Report from legal firm Access Legal.
Landlords are losing billions every year, the study suggests, as rent arrears, damages and repairs are costing close to £10bn annually.
Almost half of landlords surveyed had experience of tenants not paying rent, and unpaid rent costs some £900m a year. But damages and repairs are the biggest cost, as each costs landlords some £4.5bn a year.

Source :- http://www.cityam.com/225169/buy-let-boom-coming-end-one-five-landlords-going-out-business-hit-hard-tax-break-cuts?ITO=stream

Yes!

We are all f**ked! - says some spiv b'stard landlord.

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