Tuesday, March 18, 2008

On which drug is Ztuart Law?

Thank you Darling

"Our research shows that there is a desire amongst this group to have available a product such as stand-alone interest rate insurance, which will give them payment stability without tying them to lenders or products." And the final ray of sunshine for property investors is that more and more people who may once have been on the house-buying market are now opting for a rented property. This has led to growing optimism about the potential for success in the UK's buy-to-let market. So the moral of the story? With the help of insurance innovation and perhaps even some changes by the Treasury, homeowners will be able to cope in the face of adversity and have their happy ending. AH HHAHAHAHAHAHHA

Posted by confused76 @ 11:28 PM (864 views)
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10 thoughts on “On which drug is Ztuart Law?

  • Stuart was the only one predicting a rise at the Great Housing Panel today


    “Property prices could plummet by 20% during the next two years, claims one of the UK’s top economists.
    David Miles, chief economist at Morgan Stanley, made the prediction at today’s Great Housing Market Debate, hosted by the Wriglesworth Consultancy, in London.” the vast majority of experts predicted property prices to plunge.
    But From the 150 delegates of lenders, economists, estate agents, brokers and property investors, only Stuart Law, chief executive of Assetz, believes that house prices will rise this year. He believes they will increase by 5%.
    He says: “The dire shortage of housing stock in the UK will spike up rents and keep prices afloat.”


    first is FTBs, then its rents, then its prices, but if i rent and i dont buy who the f**k can prices go up, STUARZ WAKE UP!!

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  • It’s not the ‘dire shortage’ of housing stock (that old chestnut) he should be thinking about.

    It’s the dire shortage of mortgages available and approved.

    I’m finding agents/landlords quite willing to discount rents in my area (North Somerset) so I think this is desperate man speaking…

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  • “But among the negative forecasts about rising mortgage rates and the pain of being a first-time buyer, Alistair Darling may have injected a light at the end of the tunnel.

    Last week’s Budget announcement saw the introduction of the Housing Finance Review, which mapped out the possibility for an insurance based on house price movements.”

    OK, Darling has given it his blessing. Where do I sign? (sarcasm)

    Is it possible to distill wishful thinking into a pure saleable product? If so, Mr Law is onto a winner. Think of old fashioned snake oil salesmen if you wish to truly appreciate this concept.

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  • European-bear says:

    The insurance would pay out:
    “if for any reason it declined by more than the value of an equivalent property”
    So in a crash all equivalent properties will decline, so the payout will only be if yours is worse than the rest…..
    In which case the insurance is crap and is just another way to get more money out the home owner while offering nothing in return….

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  • From the FT:

    Property developers scramble for cash
    By Daniel Thomas, Property Correspondent

    Published: March 18 2008 18:39 | Last updated: March 18 2008 20:34

    Speculative property development in the UK has seized up amid rapidly worsening credit conditions, according to industry insiders.

    The launch next week by Assetz, the property investment group, of a fund to bail out builders struggling to raise debt finance is being seen as the latest sign of deteriorating conditions, which have worsened even in the past fortnight.

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  • Landedgentry says:

    Let see what the premiums are for such a wonderful service.

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  • crash bandicoot says:

    Stuart Law and his kind made money over the last few years by “backing their instincts” and ignoring the fundamentals of what was actually happening. This meant that they had to invent new explanations such as a shortage of land and influx of imigrants to validate their new paradigm. It looks like all of the others are starting to see sense, but Stuart is still backing his instincts.

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  • All the bulls only know one thing ….and thats to be bullish. It reminds me of all those people who quit their jobs to be day traders (or were sadly made redundant) “hey arent we clever…we buy some shares they go up we sell em!”. Fine if you are in a bull market, but show me someone who can make money in a bull or bear market (not talking about property here) and i will tug my forelock (whats left of it) in reverence. The clever money gets out NEAR the top, the lucky money gets out AT the top, the stupid money stays past the top!

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  • new user 2007 says:

    He is an idiot.

    At least by saying that the market needs insurance against a fall, he is accepting that prices are likely to fall:) Given that no matter how he twists reality, rents for the 0.5m BTL who bought since 2005 are not covering interest, they relied on capital. He is saying that is gone.

    As for the government writing a consultation paper on the issue, when it happens we will see (its plans for 25 year mortgages have been touted for years, to name just one of many initiatives).

    Increased rental demand?…Eastern Europeans are leaving, BTL do not have to leave (although they “are”..note no longer “will”), the market for it to fall…just requires no new money coming in…anyone who has bought in at least the last 2 years is subsidising tenants…

    So why would they buy at current price and rate levels (assuming they can get funding). If BTL demand is healthy on the demand and supply side, why are all these BTL brokers getting out of the market:)?

    He is the most panicked of all. Great stuff.

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  • new user 2007 says:

    p.s. Confused.

    He does indeed have a great circular theory…rental growth will be strong as FTB have stopped buying, but prices will go up as people are still buying. He is correct if we ignore the fact that BTL fools are no longer being given funds and suspend reality and agree that BTL will now not only stay in the market, but continue buying so they can have the honour of subsidising tenants with no capital appreciation.

    What worries me is that people actually take him seriously.

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