Arpeggio Posted October 31, 2018 Share Posted October 31, 2018 2 hours ago, happyguy said: It is like Tesco trying not to sell baked beans. Christ all mighty you are so full of it. It's nothing like Tesco trying not to sell Baked Beans. In the food Baked Bean market exists something calledCOMPETITION, it's so VERY basic, why waste out time with this tripe?. If Tesco stops selling Baked Beans or raise the price enough people just get them from elsewhere. If on the other hand ALL retailers increase the price of Baked Beans at the time time you've got price collusion in an Oligopoly with a lawsuit ahead. Quote Link to comment Share on other sites More sharing options...
macca13 Posted October 31, 2018 Share Posted October 31, 2018 (edited) 17 minutes ago, Mikhail Liebenstein said: I don’t think there is much pressure for forced sales. I’ve just renewed my mortgage, I went for a 5 year fix (gets me on the home straight on the mortgage and less risky given any post Brexit Currency Collapse), last time it was 2.48% , the new one is 1.8%. Saves £200 pm interest, dropping the mortgage from £2450 pm down to £2230. I’m half hoping for a nice inflationary dose so I can pay it off with spare change. £2230 mortgage ? Thats mental.. no wonder shops are closing.. That can’t leave much spare cash.. On Brexit.. The £ lost more of its value when the banking racket robbed us in 2008.. $2 to £1 €1.56 to £1 Before Soros tried to crash the £ to make profit.. Edited October 31, 2018 by macca13 Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted October 31, 2018 Share Posted October 31, 2018 36 minutes ago, Mikhail Liebenstein said: I don’t think there is much pressure for forced sales. I’ve just renewed my mortgage, I went for a 5 year fix (gets me on the home straight on the mortgage and less risky given any post Brexit Currency Collapse), last time it was 2.48% , the new one is 1.8%. Saves £200 pm interest, dropping the mortgage from £2450 pm down to £2230. I’m half hoping for a nice inflationary dose so I can pay it off with spare change. Yep - nobody is going to be forced to offload in the current climate. Quote Link to comment Share on other sites More sharing options...
Burbujista Posted October 31, 2018 Share Posted October 31, 2018 8 minutes ago, Trump Invective said: Yep - nobody is going to be forced to offload in the current climate. Well... if there are no sales... I see some state agents losing their jobs and becoming force sellers themselves... Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted October 31, 2018 Share Posted October 31, 2018 (edited) 3 hours ago, happyguy said: No developer builds a house to leave it empty that earns no money whatsoever - they make money when a property is sold and they get the money in the bank It is like Tesco trying not to sell baked beans All the would happen is that a developer would not bother to build if they felt any possible risk If a developer builds a house and then no one will buy it at the price they offer it at then they have two choices: i) leave it empty and wait for a buyer to come along ii) lower the price until a buyer bites Remember: the builders are being bailed out (enough to pay 75m GBP bonuses), so they are in no hurry to sell. If all the developers were in a position such that they believed there was significant risk that they would make no money they would exit the industry. But if that were the case - at current prices - then they wouldn't have the cash to pay out the bonuses (and dividends). The impact - to a developer - of a LVT on empty properties would be to more energetically chase sales (simplest method of this would be to lower the price). The impact - to a property hoarder - of a LVT on empty properties would be to disincentivise hoarding. Edited October 31, 2018 by Aidan Ap Word Spelling. Quote Link to comment Share on other sites More sharing options...
Freki Posted October 31, 2018 Share Posted October 31, 2018 21 minutes ago, Trump Invective said: Yep - nobody is going to be forced to offload in the current climate. Sure! With how loaded with debt this country is, I c an't see anyone's hand being forced. /eyesrollinghard Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted October 31, 2018 Share Posted October 31, 2018 11 minutes ago, Freki said: Sure! With how loaded with debt this country is, I c an't see anyone's hand being forced. /eyesrollinghard I really hope youre right! I would sit back and enjoy the show. But at present there is no need to sell, and who knows, maybe the govt will bail out the indebted for votes Quote Link to comment Share on other sites More sharing options...
ebull Posted October 31, 2018 Share Posted October 31, 2018 Quote Almacantar had even sold one £5m two-bedroom apartment to the parents of a Chinese student about to start studying at UCL. Looked at another way: if an industry is being created to expensively house and educate the children of the rich from the new global leader countries causing a big inflow of money used for employment of working folk, what's not to like. Perhaps they need some social media influencer types to stay there for a bit and do their thing. The numbers in the article are 900 unsold flats vs 80.000 families in temp accomodation [meaning many more wanting a home when you add singles and childless couples]. It's a green-eyed look at what's happenning in a small part of the market, not an assessment of the market for normal homes. I agree with the idea of a % tax on empty homes, easiest would be a 1 to 3 % yearly tax on last sale amount [plus inflation] with a big deduction-allowance for an owner-resident who is fully tax resident [pays tax contribution on worldwide income]. This should replace council tax. But with rubbish collection plus maybe other odd local services being a separate charge and hypothecated income [ie you pay for the service level provided]. The little old lady in mansion to be fixed with ability to add a mortgage-charge and pay when house is inherited/sold. Giving that ability to everyone would produce a spend-the-kids-inheritance gov-equity-release type economic boost since those currently paying 2k a year CT could just add the similar amount of [x% less resident-taxpayer-reduction] to the house-charge and spend it now. Would appeal to a certain demographic. Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted October 31, 2018 Share Posted October 31, 2018 5 hours ago, happyguy said: It is like Tesco trying not to sell baked beans It's not. Or at least I'm not aware of widespread speculation on baked bean prices. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 31, 2018 Share Posted October 31, 2018 4 minutes ago, bushblairandbrown said: It's not. Or at least I'm not aware of widespread speculation on baked bean prices. Baked beans are overpriced, It was only about three years a go you could get four tins of Heinz baked beans for a pound I am gonna start eating peas Quote Link to comment Share on other sites More sharing options...
bushblairandbrown Posted October 31, 2018 Share Posted October 31, 2018 7 minutes ago, prozac said: Baked beans are overpriced, It was only about three years a go you could get four tins of Heinz baked beans for a pound I am gonna start eating peas Just start shopping in Lidl Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 31, 2018 Share Posted October 31, 2018 6 minutes ago, bushblairandbrown said: Just start shopping in Lidl I live 25 meters from a waitrose Quote Link to comment Share on other sites More sharing options...
HowMuch! Posted October 31, 2018 Share Posted October 31, 2018 7 hours ago, happyguy said: No developer builds a house to leave it empty that earns no money whatsoever - they make money when a property is sold and they get the money in the bank It is like Tesco trying not to sell baked beans All the would happen is that a developer would not bother to build if they felt any possible risk Interesting analogy. Tesco don't pay for the beans out of their pocket at any point, the beans are manufactured, financed by the manufacturer, tesco puts them in the shop, customer pays, tesco banks the money, pays the manufacturer some 3 months later. Tesco needs to sell them of course. Empty properties can be refinanced to the limit of what ever figures are made up... no sale need occur to create new numbers. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 31, 2018 Share Posted October 31, 2018 46 minutes ago, HowMuch! said: Interesting analogy. Tesco don't pay for the beans out of their pocket at any point, the beans are manufactured, financed by the manufacturer, tesco puts them in the shop, customer pays, tesco banks the money, pays the manufacturer some 3 months later. Tesco needs to sell them of course. Empty properties can be refinanced to the limit of what ever figures are made up... no sale need occur to create new numbers. The last paragraph makes no sense whatsoever, they need to sell or rent out, they cannot leave it empty the only version I have heard of leaving empty is Chinese investors as it is worth more new. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted October 31, 2018 Share Posted October 31, 2018 3 hours ago, bushblairandbrown said: It's not. Or at least I'm not aware of widespread speculation on baked bean prices. If there was, the windfall would be massive. Just open the windows when it happens. 2 hours ago, bushblairandbrown said: Just start shopping in Lidl At Aldi often the same beans as from brands, just labelled as something else and cheaper. I worked there once before they had scanners and had to learn 700 prices. Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted October 31, 2018 Share Posted October 31, 2018 33 minutes ago, prozac said: The last paragraph makes no sense whatsoever, they need to sell or rent out, they cannot leave it empty the only version I have heard of leaving empty is Chinese investors as it is worth more new. Park Lane residency levels below 20% have been a thing for years. Quite a few of those properties were cash stores (assumed capital growth wod. Outstrip ZIRP rates). And for quite a while it was the mortgage that could be rebadged and sold on in a derivative product that made them valuable. Houses don't need people in them to be deemed assets in this dumb world. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 31, 2018 Share Posted October 31, 2018 3 minutes ago, Aidan Ap Word said: Park Lane residency levels below 20% have been a thing for years. Quite a few of those properties were cash stores (assumed capital growth wod. Outstrip ZIRP rates). And for quite a while it was the mortgage that could be rebadged and sold on in a derivative product that made them valuable. Houses don't need people in them to be deemed assets in this dumb world. Park lane is not the country, how many properties are empty using your reasoning I cannot imagine it is a significant number, they are just in a high profile area Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted October 31, 2018 Share Posted October 31, 2018 8 hours ago, longgone said: lets not forget this tower underneath the flashy exterior is built no better than grenfell. really? it is built out of Portland Stone (crushed) Quote Link to comment Share on other sites More sharing options...
longgone Posted October 31, 2018 Share Posted October 31, 2018 18 minutes ago, monkeyman1974 said: really? it is built out of Portland Stone (crushed) lol fancy name for cement and aggregate i.e concrete. yes it is a concrete ugly mess. Quote Link to comment Share on other sites More sharing options...
longgone Posted October 31, 2018 Share Posted October 31, 2018 6 hours ago, Mikhail Liebenstein said: Zone 1 is hollowing out pretty quickly! The bigger they are the harder they fall or in this case the more expensive they are. ? Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted October 31, 2018 Share Posted October 31, 2018 16 minutes ago, longgone said: lol fancy name for cement and aggregate i.e concrete. yes it is a concrete ugly mess. Goes to show that design appreciation is subjective. I like Seifert. What's more ironic is the ghost of Harry Hyams, keeping this fella empty as rents rose / the centrepoint charity for homeless, as championed in particular by the UK property giants, including Land Sec, for which our Mr Hussey was head of London.. Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 1, 2018 Share Posted November 1, 2018 Central London house prices to bounce back sharply: http://www.cityam.com/267825/central-london-house-prices-set-sharp-upturn-brexit-deal Derived from a report written by a 30 year old with a middling master's degree in urban regeneration. Phew. Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 1, 2018 Share Posted November 1, 2018 http://residential.jll.co.uk/new-residential-thinking-home/research/residential-forecasts-2019-download Quote Link to comment Share on other sites More sharing options...
Pop321 Posted November 1, 2018 Share Posted November 1, 2018 16 hours ago, dryrot said: Do they have to pay council tax on the empty flats? (Like a LL would, with void rents?) 15 hours ago, Houdini said: £1.8m against a cost to keep empty of £4,500 (150% of £3000 for a band h property). i don’t think that £4.5k is going have much impact on the seller Comments Illustrates the profit. These are speculative sales. The debt is down, retail units let and the sale of the flats is the cream and cherry on the top. So pure greed where a few million pound profit for Directors just isn’t enough. A hike in rates and a cash crisis will create an opportunity. The magic question is....when? These are the rules to which we abide.....rightly and wrongly. I have seen huge falls in markets (early 1990’s the most dramatic)......hopefully a time in the near future we will be able to look at how ridiculous £1.8m is for a one bedder in a tower block. Even with really nice taps. If it were real money ie not borrowed at 1.8% or a ‘drop in the ocean for a billionairre’ then £1.8m is a lifetimes earnings. Enough for a 25 year old to live modestly in a nice UK town for 50 years. Speculative madness. Surprised they have sold any....well maybe not surprised just disappointed with those who have money to waste and bought one. ? Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 1, 2018 Share Posted November 1, 2018 20 minutes ago, Pop321 said: If it were real money ie not borrowed at 1.8% or a ‘drop in the ocean for a billionairre’ then £1.8m is a lifetimes earnings. Enough for a 25 year old to live very comfortably indeed in a nice UK town for 50 years. 2 fixed for you Quote Link to comment Share on other sites More sharing options...
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