June 2016 Archive

Thursday, June 30, 2016

Bad news for London Property Buyers

BBC: Singapore bank UOB suspends London property loans

One bank suspends loans. Others tightening their criteria, pointing out that even if prices don't fall the exchange rate risk is high.

Posted by tenyearstogetmymoneyback @ 07:18 AM 3 Comments

Wednesday, June 29, 2016

Maybe this will finally get rid of this appalling, dishonest practice

Casehub: Letting Agent Fees class action lawsuit

This summer, CaseHub is launching the once-in-a-generation fight back against extortionate letting agent practices. If you have a gripe with your past or current letting agent, this case is a must-watch. As the niceties of the class action are still being sorted, we invite you to sign up to our mailing list beforehand: join us on and be one of the first people in the movement to help the fight back.

Posted by mombers @ 01:12 PM 0 Comments

Good news for London house buyers

The Guardian: UK house price growth up in final set of figures before vote to leave EU

"Samuel Tombs, the chief UK economist at Pantheon Macroeconomics, said: “Following the referendum, demand likely will weaken as unemployment begins to edge up and confidence falls. Meanwhile, banks soon will reflect the recent increase in funding costs in their mortgage rates. Prices in London look particularly vulnerable, given that job insecurity has increased in the City and banks will be thinking twice about high loan-to-income lending.” Foxtons, the London-focused estate agent, issued a profit warning this week. It believes that the vote to leave the EU will limit property sales in the capital for the rest of the year."

Posted by wdbeast @ 10:19 AM 1 Comments

A flood of foreign money will pour into London’s post-Brexit housing market

Evening Standard: Brexit: 'Foreign money will pour into London's property market' according to expert

Foreign investors are apparently seeing huge savings after the value of the pound plummeted following the leave vote. Luxury estate agent John Taylor said since referendum, they have received higher offers on property than all other offers made since the start of the year. John Taylor managing director David Adams said: “I was inundated with more calls from the Middle East on Friday than any other day of my career."

Posted by libertas @ 07:54 AM 6 Comments

Tuesday, June 28, 2016

The Fergus saga continues.....

Torygraph: Britain's biggest landlord caught in Brexit turmoil - as he attempts to sell 1,000 properties

Is this not emblematic of the UK's housing market as the illusionary wealth of House Price Gains is so difficult to realise in the aggregate & can only rely on suckers mortgaging their lives away.

Posted by pete green @ 09:08 AM 2 Comments

Friday, June 24, 2016

Stagnation and Decline (House Prices)

Telegraph: House prices to fall 5pc nationwide and tumble even further in London as worried home buyers back out

House prices and transaction levels will be hit by a "short, sharp shock for a quarter", as buyers pull out of chains amid the uncertainty that the vote to leave the European Union has created. Property experts warned that chains could collapse as worried buyers pull out of transactions or invoke "Brexit clauses", which allow them to back out if they don't like the outcome of the referendum.

Posted by tom101 @ 03:18 PM 14 Comments

EU edit expected to end UK house price boom

Financial Times: Brexit to end

Explains why all day - TODAY OF ALL DAYS - I have been receiving emails from estate agents telling me now is a good time to buy as a boom is just round the corner.

Posted by sneaker @ 02:39 PM 0 Comments

Could this trigger the big one ?

BBC: Pound falls heavily as EU vote results come in

This is making 2008 seem like a minor hiccup. I remember 1992 when interest rates hit 14%. Of course Libertas might e right and next year your house might be worth £1000000000 or was that Zimbabwe dollars ? Is this the final punishment of the boomers against generation rent ? A lot of the boomers won't be happy when they see the price of their next BMW. Wait for the cries of "BoJo didn't tell us this would happen"

Posted by tenyearstogetmymoneyback @ 03:53 AM 18 Comments

Saturday, June 18, 2016

Rent Strike!!

Keeno: Comments on Rentiers

Linked - probably - to the 2016 Act, UCL students have decided to go on Strike, The strike was reported on in March - but they have got a rebate recently : .http://www.theguardian.com/education/2015/jun/11/university-college-london-students-withhold-rent-over-building-works Keeno relates this phenomena to the rest of the economy. Shows when we started the debt inflation ..... I wonder who started down that road?

Posted by techieman @ 03:51 PM 4 Comments

Tuesday, June 14, 2016

Brexit is now the most bullish thing conceivable, something we first hinted a month ago...

Zero Hedge: Here They Come: ECB Pledges To Bailout Markets In Case Of Brexit

According to a Reuters report, the European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the European Union. Rate cuts and QE will be the most bullish thing ever. Markets will soar, house prices could go ballistic. The only risk is that governments will over-reach in their abject fear and pump too much money into the system thus, the greatest risk is not BREXIT but government knee jerk reaction to it. However, with deflation on the horizon, it may be the prod needed to bring us back to 2% inflation targets. For Britain, with reduced migration eventually, stagnant wages could reverse gear and start heading into the stratosphere as we play catch up with the wages of other non-EU countries like Norway & Swiss

Posted by libertas @ 10:30 PM 11 Comments

If boomers' home equity is hard earned, how come today's higher earning workers never earn enough?

Torygraph: Generation rent: young, married, pregnant and stuck in a house share

“The result is that the younger generation is now expected to pay a much bigger multiple of its earnings to buy a home than their parents did – something that never happened previously.” Boomers had to hand over 3 or 4 times annual earnings, now expect double that for exactly the same house. Sellers of shares in a company can very reasonably expect more than they paid for them if the company has created lots of value and made the pie bigger. But trousering a decade of someone's earned income for a sh1tty home is just taking a bigger slice of the pie without creating anything...

Posted by mombers @ 04:38 PM 2 Comments

Saturday, June 11, 2016

Creepy data mining

Telegraph: Landlords check Facebook and other social media to vet tenants

"Landlords and letting agents are paying for 'personality reports' of potential tenants based on details obtained by trawling Facebook, LinkedIn, Twitter and other sites. Tenant Assured creates a report, with the tenants' permission, which is used to verify basic information as well as unearth other details such as applicants' credit-worthiness or whether they own pets." I wanted to post this: http://boingboing.net/2016/06/09/uk-startup-offers-landlords-co.html and this https://www.washingtonpost.com/news/the-intersect/wp/2016/06/09/creepy-startup-will-help-landlords-employers-and-online-dates-strip-mine-intimate-data-from-your-facebook-page/ but the blog doesn't seem to cope with their web addresses.

Posted by quiet guy @ 04:31 PM 1 Comments

Thursday, June 9, 2016

Short term dip?

Telegraph: House prices forecast to fall for the first time since 2012

House prices are set to drop for the first time since 2012, as demand for property falls at its fastest rate in eight years. A "short-term" dip in house prices over the next few months will come at the same time as rents continue to rise, according to the Royal Institution of Chartered Surveyors (Rics).

Posted by hpwatcher @ 07:27 AM 10 Comments

Monday, June 6, 2016

The most important vote ever

Sunday, June 5, 2016

The House Price, Mortgage Cost Hokey Cokey

BBC: EU referendum: Brexit 'could cause mortgage rises', says Cameron

In Out, In Out, Shake it all about and Remain again suggests that Treasury analysis suggested that voting to leave the EU could add £920 to the annual cost of the average mortgage. Mortgage rates could rise by 0.7% costing the 'average' mortgage holder of a £292000 property the equivalent of less than £20 per week. On the other hand if you are looking to buy it won't make any difference at all unless you have a bigger deposit tucked away. How cheap is your vote?

Posted by enuii @ 08:11 AM 5 Comments

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