October 2016 Archive

Saturday, October 22, 2016

Has Brexit burst the British housing bubble?

New Statesman: Has Brexit burst the British housing bubble?

So what happened to the magic-money-tree? In short the pound fell in value and it has been continuing to fall ever since the UK voted to leave the EU. There was always going to be “the event” that triggered the end of speculation and it is looking more and more likely as if Brexit was that event. Once the pound begins to fall in value then any overseas investor knows that if they buy property in the UK, even if its value in pounds does not fall, it will be worth less to them in future.

Posted by becky @ 11:00 AM 16 Comments

Thursday, October 20, 2016

Transport, housing and desperate articles

Telegraph: House price rises along Southern Rail routes grind to a halt as RMT strike action continues

House price growth at stations on Southern Rail's routes has ground to a halt as strikes by the RMT Union continue to make commuters' lives a misery.

Posted by tom101 @ 09:17 AM 2 Comments

Wednesday, October 19, 2016


Telegraph: The buy-to-let borrowers 'marooned on high rates for life'

'Borrowers who reach the end of a fixed-rate deal, for example, and then roll over on to a standard variable rate, could find they are paying well over 5pc. This is considerably higher than many of the deals available to those meeting the new criteria.'

Posted by tom101 @ 09:05 AM 1 Comments

Tuesday, October 18, 2016


Telegraph: Half a million landlords to be hit with 40pc tax raid under new rules

According to the National Association of Landlords, the new harsher tax rules will push the taxable incomes of around a quarter (440,000) of the UK's 2m landlords who currently pay basic rate tax at 20pc, above the higher-rate tax threshold of £41,786.

Posted by tom101 @ 11:41 AM 6 Comments

Saturday, October 15, 2016

Onwards and downwards

FT Adviser: Property bubble to burst in 2017 warns economist

Harry Dent predicts prices will Tumble in 2017

Posted by jack c @ 06:34 PM 3 Comments


WSJ: Pound at Weakest Level in History Against Currency Basket

The UK has tax free gains for housing, has recently transferred 20-30% in real terms from savers to debtors without any government oversight i.e. the transfer has also been to foreign sterling debtors... has no way to rebalance because housing costs in the UK are higher than even the total manufacturing wages of other countries.... and some idea that reversing Brexit will make everything OK even though Brexit is a trigger not a cause. What happens now? Basically it involves amongst other stuff listening to somebody tell you how much their house went up in value....

Posted by stillthinking @ 05:09 AM 4 Comments

Tuesday, October 11, 2016

No way out....

Michael Hudson: Democracy's debt ladder

There was no recovery. We're still in the 2008 collapse with no way out unless there are massive debt write-downs. Reason is that debts now total $150 trillion, and the more debts grow the more they shrink the economy and the ability to pay them off because servicing them means people don't have the means to buy all the goods and services they produce. Most banks try to stay afloat, with all bad debts on their books, by lending to speculators to bet on derivatives. But look at Deutsche Bank - lending to speculators, who turn round and short that bank's shares!! "To save the banks you'd have to turn the entire Eurozone into another Greece". How much longer can they keep the plates spinning?

Posted by icarus @ 01:59 PM 3 Comments

Friday, October 7, 2016

No doubt the landlords will pass the costs of this frivilous lawsuit on?

Graniard: Landlords lose legal challenge over buy-to-let tax changes

What a waste of time... They need to just look across the Atlantic to their US counterparts who pay a hefty turnover tax (property taxes levied on owners) to see that this doesn't lead to higher rents.

Posted by mombers @ 08:40 AM 1 Comments

Thursday, October 6, 2016

Stimulating the right end of the market

Hargreaves Lansdown/Reuters: UK government to buy unsold new homes to spur construction

Britain's government will buy unsold homes built by developers using a 2 billion pound fund announced earlier this week, a move designed to get construction firms to commit to bigger projects, a trade journal reported on Thursday. With HTB ending and BTL tax changes, who knows what might happen?

Posted by a saver @ 05:50 PM 12 Comments

Tuesday, October 4, 2016

RICS: We need more social parasites, especially corporate ones

BBC News: UK faces critical shortage of homes to rent, says Rics

BTL cheerleader RICS: We need more corporations & wealthy people renting out homes. Oh, and we should reduce stamp duty, continue to treat mortgage interest payments as tax-deductible and should offer tax breaks "to fund large scale rental properties".

Posted by landofconfusion @ 10:24 AM 4 Comments

Sunday, October 2, 2016

As big a problem as subprime mortgages

CNN Money: Unpaid subprime car loans hit 20-year high

Americans with lower credit scores are falling behind on auto payments at an alarming pace. The rate of seriously delinquent subprime car loans soared above 5% in February, according to Fitch Ratings. That's worse than during the Great Recession and the highest level since 1996. It's a surprising development given the relative health of the overall economy. Fitch blames it on a dramatic rise in loans with lax borrowing standards that have helped fuel the recent boom in auto sales. More Americans bought new cars last year than ever before and the amount of auto loans soared beyond $1 trillion.

Posted by lvmreader @ 10:45 AM 2 Comments

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