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fru-gal

Building society Nationwide to pump millions into building homes for sale and rent in bid to ease UK's housing crisis

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Does that mean the housing market is going the same way as the car market?.....lots to be made from those that will never own, can only ever rent, a constant flow of income......the idea that a house is paid for in full within 25 years and a car paid for within three to five years is long gone......even education is now on a long-term rental/taxable mode......forever catch up.....never free. ;)

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That could read:

"Building society Nationwide to pump millions into building homes for sale and rent in bid to keep the ponzi scheme going."

:lol: 

several times on twitter they refused to answer my question...."if house prices collapse 50% will the NW be solvent"....they answered plenty other questions.

read into that what you will.

The NW is the NR of this decade IMHO

 

 

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  • Move by new Nationwide boss Joe Garner would be radical departure 
  • Plan to finance building of new homes could deliver returns back to savers
  • Returns on property could boost profits supposed to be shared by members 
  • Nationwide's Garner comes under fire at AGM over £3.4million pay packet 
 
NW boss needs to justify very large slary for CEOing an org that could be run by a chimp.
 
Gormless attempt at paying out more to members (savers) involves leveraging up and carrying out something the BS have no fcking idea about - long term rentals.
They could raise the IRs on their mortgages?
 
There's a lot of coulds there. Could sink the NW due to his fckheadedness.
Im reminded of Abbey NAtionals grea twheeze of putting its reserves into commercial leases which suddenly crashed and were illiquid, forcing Luqman Arnold to come in and sell them all and sell of the bank to Santander.
 

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I have no issue with them building homes...we have seen the results of the demand side stimulus advocated by Osborne...lets see more supply side stimulus...everything else being equal increased supply will put downward pressure on rents and prices.  Building homes will increase the sum of human happiness in the Kingdom...a house is a useful thing...it keeps you dry and warm and lots of nice things.

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At least we know what banks will do when they can't lend to anyone....just take the free money or savers, build houses then force the government to pay them to house people.

They are effectively socialising BTL !!!!!

People really need to wake up to how disturbing/corrupt/ciminal this really is (all IMHO)

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5 hours ago, TheCountOfNowhere said:

At least we know what banks will do when they can't lend to anyone....just take the free money or savers, build houses then force the government to pay them to house people.

They are effectively socialising BTL !!!!!

People really need to wake up to how disturbing/corrupt/ciminal this really is (all IMHO)

Your comment reminds me of a thought I had the other day.

All the houses being built right now - let them be built, prices crash, gov bails out house builders, buys the stock, hey presto - gov owned social housing?

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16 minutes ago, Noallegiance said:

Your comment reminds me of a thought I had the other day.

All the houses being built right now - let them be built, prices crash, gov bails out house builders, buys the stock, hey presto - gov owned social housing?

Now there's a thought

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It's not all bad. I'd rather rent from the Nationwide than from Fungus Wilson and his greedy little friends on Property Tribes.

Report a problem to a professional organisation and it will probably be sorted promptly and courteously, not something that Fungus is known for.

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Umm...couldn't they offer competitive savings & ISA products (eg: over 4%) AER to encourage their customers to put away more money? Isn't that the founding purpose of a Building Society?

Shirley that would be more straightforward than building the houses. Are Nationwide going to become a defacto property developer and landlord now?

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23 hours ago, TheCountOfNowhere said:

At least we know what banks will do when they can't lend to anyone....just take the free money or savers, build houses then force the government to pay them to house people.

They are effectively socialising BTL !!!!!

People really need to wake up to how disturbing/corrupt/ciminal this really is (all IMHO)

Nationwide sinks to new lows of corruption and free market interference. You know the government will welcome it - all parties! I predict this to be the thing that will bust the Nationwide, but predictibly they will be bailed out by government, assuming of course that they have any money left and if the IMF allow it after we haved been bailed out again by them. This will be when we have a Labour Corbyn government.

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