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https://www.bbc.co.uk/news/business-48526368

A generation of young people lives put on hold, kids brought up with the stress of being in insecure rentals.

All so Brown could blow the biggest credit bubble the UK has ever seen - 2001->2007 - and prentd at being a genius.

And the iodts i nthe banks - Fred Goodwin, Adam Applegarth, HBOS etc etc could draw down huge salaries for basically blowing up 150+ years of banking assets in 6 - count em - years.

 

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And they didnt pay any interest on that loan.

Should ahve been twice the money.

And it should have been took from the pensions and asets of people in the treasury and the banks.

 

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Its depressing.

Years looking and there is now nothing I like at all less and less for sale.

Like all subsidies it just ******s up the market we are now waiting for the next batch of stimulus to get it moving upwards.  Without additional stimulus the existing stimulus will just be paying to clog up the market as vendors can prolong their delusion.  

I can honestly say at this rate I am closer to buying my local branch of countrywide estate agents than I am buying a house.  I am sure when/if they go into admin the local office/brand can be bought for less than a decent bungalow.  

 

Edited by Fromage Frais

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I happened upon some soul destroying daytime TV. Slum landlords, nightmare tenants. Jeez. These are the idiots bailed out by zirp? I wouldn't trust these guys to take my dog for a walk never mind give them a six figure mortgage predicated on them being able to handle it.

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3 minutes ago, Si1 said:

I happened upon some soul destroying daytime TV. Slum landlords, nightmare tenants. Jeez. These are the idiots bailed out by zirp? I wouldn't trust these guys to take my dog for a walk never mind give them a six figure mortgage predicated on them being able to handle it.

https://www.theguardian.com/uk-news/2019/jun/02/peterborough-prepares-for-byelection-that-could-see-first-brexit-party-mp

One of the owners, collecting rents of around £280 a month per room – which adds up to well over the rental price of a three-bed house – is Mark Homer. He and Rob Moore are prominent local buy-to-let landlords, who together have built up a portfolio of some 500 properties in Bretton and across Peterborough since around 2005. 124 Eyrescroft, (which Homer owns with another man) was bought for £107,000 in 2007, which suggests it has long since paid itself off. (Homer disputes this suggestion). Homer, 39, drives a bright white Porsche 911 Carrera S and lives in a listed farmhouse near affluent Stamford. Moore boasts of driving Ferraris and flying helicopters. The pair set up a business teaching others how to do the same, selling courses named Buy-to-Let Boom and No Money Down.

https://companycheck.co.uk/company/OC361197/PROGRESSIVE-PROPERTY-VENTURES-LLP/financials

I think youll find its 7 figures...

 

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7 minutes ago, spyguy said:

https://www.theguardian.com/uk-news/2019/jun/02/peterborough-prepares-for-byelection-that-could-see-first-brexit-party-mp

One of the owners, collecting rents of around £280 a month per room – which adds up to well over the rental price of a three-bed house – is Mark Homer. He and Rob Moore are prominent local buy-to-let landlords, who together have built up a portfolio of some 500 properties in Bretton and across Peterborough since around 2005. 124 Eyrescroft, (which Homer owns with another man) was bought for £107,000 in 2007, which suggests it has long since paid itself off. (Homer disputes this suggestion). Homer, 39, drives a bright white Porsche 911 Carrera S and lives in a listed farmhouse near affluent Stamford. Moore boasts of driving Ferraris and flying helicopters. The pair set up a business teaching others how to do the same, selling courses named Buy-to-Let Boom and No Money Down.

https://companycheck.co.uk/company/OC361197/PROGRESSIVE-PROPERTY-VENTURES-LLP/financials

I think youll find its 7 figures...

 

Omg those landlords are borderline fcuked

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1 hour ago, spyguy said:

https://www.theguardian.com/uk-news/2019/jun/02/peterborough-prepares-for-byelection-that-could-see-first-brexit-party-mp

One of the owners, collecting rents of around £280 a month per room – which adds up to well over the rental price of a three-bed house – is Mark Homer. He and Rob Moore are prominent local buy-to-let landlords, who together have built up a portfolio of some 500 properties in Bretton and across Peterborough since around 2005. 124 Eyrescroft, (which Homer owns with another man) was bought for £107,000 in 2007, which suggests it has long since paid itself off. (Homer disputes this suggestion). Homer, 39, drives a bright white Porsche 911 Carrera S and lives in a listed farmhouse near affluent Stamford. Moore boasts of driving Ferraris and flying helicopters. The pair set up a business teaching others how to do the same, selling courses named Buy-to-Let Boom and No Money Down.

https://companycheck.co.uk/company/OC361197/PROGRESSIVE-PROPERTY-VENTURES-LLP/financials

I think youll find its 7 figures...

 

Companies House is a good place to look.

https://beta.companieshouse.gov.uk/officers/q2qYbBkRMpo6Bxmy8xENs9VntPY/appointments

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the longer they mess with the science of economics, the worse the correction will be.

Think about what the political landscape was like in 2008...no BREXIT, no Trump...I am not even going to mention all the right wing idiots in the EU 27!

The imbalances are now so huge that the correction will be an existential issue for the western world.

I fear there is a war of some type in the near to mid term.

Edited by Roman Roady
additonal text

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1 hour ago, iamnumerate said:

The good news is that no government props were needed to help prop up the housing market to enable this to be paid back.  That is right isn't it?

That's right. These are business geniuses that just happened to get caught up in an unforseen financial crisis, not of their doing, that swept the planet. Our governments just steadied the ship through the turbulence. Now it's business as usual (except for a few minor things like everyone else being screwed).

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13 minutes ago, Boo Hoo May said:

I am cheered by the fact it will be the end of the Tory Party, but a high price to pay.

Whether that's something to cheer depends upon what replaces it

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But it is not only renting homes, it is renting almost everything, everything possible that can be rented is rented.....homes, cars, transport, soon to be road, internet, phone lines, music, TV, debt, other services via insurance, etc......rent,rent,rent......few make money ongoing from people who own.....thousands and millions of +£2 a month, a mile, a week, an hour, a session = millions of pounds for months or years to come or until cancelled.;)

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1 hour ago, winkie said:

But it is not only renting homes, it is renting almost everything, everything possible that can be rented is rented.....homes, cars, transport, soon to be road, internet, phone lines, music, TV, debt, other services via insurance, etc......rent,rent,rent......few make money ongoing from people who own.....thousands and millions of +£2 a month, a mile, a week, an hour, a session = millions of pounds for months or years to come or until cancelled.;)

* you will not own this life.

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4 hours ago, spyguy said:

One of the owners, collecting rents of around £280 a month per room – which adds up to well over the rental price of a three-bed house – is Mark Homer. He and Rob Moore are prominent local buy-to-let landlords, who together have built up a portfolio of some 500 properties in Bretton and across Peterborough since around 2005.

 

Is that a spoof article? Surely those landlord names are made-up?

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3 hours ago, Millaise said:

Is that a spoof article? Surely those landlord names are made-up?

Not only are they real people, Mark has written a reply to the article criticizing the allegedly inaccuracy of it. 

https://www.facebook.com/groups/UKProperryTraders/permalink/2323273691250893/

They own one of the more well known "property training" companies.

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On 05/06/2019 at 14:13, Fromage Frais said:

Its depressing.

Years looking and there is now nothing I like at all less and less for sale.

Like all subsidies it just ******s up the market we are now waiting for the next batch of stimulus to get it moving upwards.  Without additional stimulus the existing stimulus will just be paying to clog up the market as vendors can prolong their delusion.  

I can honestly say at this rate I am closer to buying my local branch of countrywide estate agents than I am buying a house.  I am sure when/if they go into admin the local office/brand can be bought for less than a decent bungalow.  

 

Interesting and as an aside a stunning building is for sale in our town centre. 5 floors, terrace in a curved crescent overlooking a pleasant outlook across to Tea shops and a park/sitting area. Ex bank (RBS) premises and there are similar shops for sale at much higher prices ie £2m.

I noticed this is now for sale for £800k (down from £1m). 

Its too central for the ground floor to be used for anything other than a shop...and it is cheese slice shaped (ie wide front, narrow back) but it represents a ‘relative’ good deal. 

Okay this one is maybe too big (size and price) and a scary rateable value which I don’t really understand that process and cost but I can see the day when slightly less well locations in the town (ie 1or 2 streets away) could be great value to live in. 

Ps not advocating...just interesting that some commercial buildings starting to look nice places to live. But we do have a beautiful town centre, guess that helps. 

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On 05/06/2019 at 15:06, spyguy said:

https://www.theguardian.com/uk-news/2019/jun/02/peterborough-prepares-for-byelection-that-could-see-first-brexit-party-mp

One of the owners, collecting rents of around £280 a month per room – which adds up to well over the rental price of a three-bed house – is Mark Homer. He and Rob Moore are prominent local buy-to-let landlords, who together have built up a portfolio of some 500 properties in Bretton and across Peterborough since around 2005. 124 Eyrescroft, (which Homer owns with another man) was bought for £107,000 in 2007, which suggests it has long since paid itself off. (Homer disputes this suggestion). Homer, 39, drives a bright white Porsche 911 Carrera S and lives in a listed farmhouse near affluent Stamford. Moore boasts of driving Ferraris and flying helicopters. The pair set up a business teaching others how to do the same, selling courses named Buy-to-Let Boom and No Money Down.

https://companycheck.co.uk/company/OC361197/PROGRESSIVE-PROPERTY-VENTURES-LLP/financials

I think youll find its 7 figures...

 

Those financials look scary. Assets £1.3m and debt £1.6m albeit with £400k cash.

Leveraging up, using cheap debt to earn and income and spending the money on a car...marvellous, what could possibly go wrong

Doesn’t add up but I guess we have been saying that for years. 

Sad truth is I know some who have successfully made this work over the past 20 years. (Obviously not the 2 kamikaze pilots in this case example who will eventually fail)  Ie others with modest personal spending, repaid debt and now hold assets. Shouldn’t have been allowed and the fact it continues is truly shocking and sad. 

Raise rates, remove props, no more IO loans and let the market decide the level and make housing affordable again. 

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The banks/financial markets all backed Cameron in 2010 for a reason. 

I hate Brown but I can't help thinking he'd have made them pay more of the bailout than Cameron did. 

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48 minutes ago, byron78 said:

The banks/financial markets all backed Cameron in 2010 for a reason. 

I hate Brown but I can't help thinking he'd have made them pay more of the bailout than Cameron did. 

My wife noticed this article on Mumsnet of all places. I do think the population is starting to wake up to the money fraud: 

https://www.mumsnet.com/Talk/make_it_your_business/3607070-RBS-wanting-to-leech-of-female-run-businesses

Looks like the Rose Review was supposed to help Women overcome barriers such as childcare when starting businesses, but it looks like it’s been back-doored by RBS with a view of getting new a new source of loan customers.

More credit, more debt to keep the wheels turning!!! The Government is clearly owned by the banks, and in the case of RBS it’s also the other way round!

 

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2 hours ago, byron78 said:

The banks/financial markets all backed Cameron in 2010 for a reason. 

I hate Brown but I can't help thinking he'd have made them pay more of the bailout than Cameron did. 

The UK finsec failed in07.

It was failing/flashing huge reg 'Danger' signs from 04->07.

Brown id nothing bar give Fred Goodwin a knighthood.

Oh and Alan Greenspan.

Browns 'legcy' was blowign the biggest credit bubble the UK has ever seen, skimming off the tax revenue and spending it.

Brown was at the centre of the system.

 

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15 hours ago, Pop321 said:

Those financials look scary. Assets £1.3m and debt £1.6m albeit with £400k cash.

Leveraging up, using cheap debt to earn and income and spending the money on a car...marvellous, what could possibly go wrong

Doesn’t add up but I guess we have been saying that for years. 

Sad truth is I know some who have successfully made this work over the past 20 years. (Obviously not the 2 kamikaze pilots in this case example who will eventually fail)  Ie others with modest personal spending, repaid debt and now hold assets. Shouldn’t have been allowed and the fact it continues is truly shocking and sad. 

Raise rates, remove props, no more IO loans and let the market decide the level and make housing affordable again. 

Where were the adults?

Sure therre is and wlays will be idiot chancers.

But where were the adults and the systems that would red flag a couple of idiot chancers taking about ~2m of debt?

The systems are in place now. These systems and checks should have been in place before Fin Big Reg in 1987.

 

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On 08/06/2019 at 19:50, Pop321 said:

Those financials look scary. Assets £1.3m and debt £1.6m albeit with £400k cash.

Less than £1.3m of assets if in terms of the actual price the houses will sell at.

10 hours ago, spyguy said:

The systems are in place now. These systems and checks should have been in place before Fin Big Reg in 1987.

Hope so.

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12 hours ago, spyguy said:

The UK finsec failed in07.

It was failing/flashing huge reg 'Danger' signs from 04->07.

Brown id nothing bar give Fred Goodwin a knighthood.

Oh and Alan Greenspan.

Browns 'legcy' was blowign the biggest credit bubble the UK has ever seen, skimming off the tax revenue and spending it.

Brown was at the centre of the system.

 

I get the impression you don't like Gordon Brown. ;)

Don't let it blind you from how the private firms and banks who benefited from Brown's bubble overwhelming backed Cameron. Largely got away with it on his watch. In fact the Help To Buy bubble propped the banks and mortgage markets as much as it did the big house building firms. 

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  • 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%



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