January 2018 Archive

Tuesday, January 30, 2018

Smart or Stupid - I can't decide

BBC: Borrowers ignoring mortgage timebomb, says FCA

The FCA are warning about the number of interest only mortgages which will reach the end of their term in the future. Interesting to read the comments with many people saying an IO mortgage is cheaper than renting and with rising prices their equity has been increasing in some cases by enough to buy a cheap property when they downsize. Of course timing is everything. A interest only mortgage in the early 1990s would have been a disaster. Since then it could have been a smart move.

Posted by tenyearstogetmymoneyback @ 10:24 PM 1 Comments

Sunday, January 28, 2018

Off message for the dinner party classes

Guardian: Why building more homes will not solve Britain’s housing crisis

Interesting take on the problem from the Guardian, although I can imagine that this won't be well received by a section of their readership. It's provoked some debate in the comments section though.

Posted by crash bandicoot @ 09:51 PM 11 Comments

Friday, January 26, 2018

They were built as gambling chips for rich overseas investors, but they are no longer interested...

Grauniad: Ghost towers: half of new-build luxury London flats fail to sell

Despite 50% non-sales, still more posh towers are being planned complete with empty private cinemas and swimming pools. What happened to supply and demand?! The article says that "affordable" homes are needed instead costing ... £500,000 (!!!) In which planet is a slave box for half a million quid affordable? People who work in property must be serially deluded.

Posted by nickb @ 03:35 PM 0 Comments

Friday, January 19, 2018

Falling Appetite For Over-Extension

Guardian: UK's largest estate agent Countrywide issues profit warning

With relatively sticky prices, the first stage of a housing downturn – that of falling activity in the context of a buyer/seller standoff – is in train.”

Posted by crash bandicoot @ 09:20 PM 3 Comments

Monday, January 15, 2018

London house prices down

City A.M.: London house prices dragged down by zones 2 and 3

Houses brought to market in London are down 3.5% over the last year. Zones 2 and 3 saw the biggest falls.

Posted by icarus @ 12:44 PM 3 Comments

Friday, January 12, 2018

Interesting Comments

BBC: The areas where house prices rose fastest in 2017

Nothing new in this article. However, what I found interesting is the comments. Try sorting them by Highest Rated. About the top five are saying price rises are a bad thing and berating the Journalist for using the word "Shine" Personally I always think of the contrast there would be if they were talking about another consumer durable - cars. p.s. One day on I had difficulty finding the article as all the news was about a different price increase - the price of oil. I'm sure there must be a connection. Back in the 1980s a colleague said he thought that as normal goods went down in price houses would go up. The old "Waterbed" theory.

Posted by tenyearstogetmymoneyback @ 08:18 AM 3 Comments

Thursday, January 11, 2018

Worlds run out of QE

Quartz: Donald Trump Bond Vigilantes

This article has got an animation where you can slide your mouse over the years and see the yield curve, so you can see basically just how dramatic QE was changing borrowing costs.

Posted by stillthinking @ 08:55 PM 2 Comments

Halifax looking increasingly reliable: UK -0.6% MoM (Dec)

Grauniad: UK house prices falling for first time since June, says Halifax

A correction after years of unpredecented growth, year on year still positive, it's London, yadda yadda yadda.

Posted by nickb @ 02:19 PM 0 Comments

Saturday, January 6, 2018

Brexit Effect?

The Times: Sellers slash prices after family home market stalls

Prices of upmarket family homes are collapsing as hefty property taxes and uncertainty over the economy force sellers to make “eye-watering” reductions, according to research for The Times. Almost half of the homes on sale for between £1 million and £2 million in London have had their prices cut, with average reductions of £142,000, rising to nearly £900,000 in extreme cases. Across Britain one in three sellers reduced their asking price last year, the highest proportion since the double-dip recession of 2012.

Posted by quiet guy @ 07:34 PM 5 Comments

Reality bites

The Times: Sellers slash prices after family home market stalls

Prices of upmarket family homes are collapsing as hefty property taxes and uncertainty over the economy force sellers to make “eye-watering” reductions, according to research for The Times.

Posted by mr pleasant @ 10:01 AM 0 Comments

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