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  • News Blog - HousePriceCrash.co.uk
    May 15 2015 No figures for renters and no mention of the growing liability that anyone wanting to move up faces Torygraph Families 20 per cent richer than last year House price hikes have been a big factor behind this with a 9 rise in average property values last year according to the report which found 39 of total household wealth is now held in bricks and mortar Anyone whose next move is to a more expensive house has been negatively affected by rising house prices My family has seen our hopes of ever trading up from a flat to a house disintegrate as our paper gain on our flat is wiped out and then some by the bigger increase in price of anything nicer than it And then renters unless you have a fat wad of other assets you re falling even further behind than someone on the bottom 99 of the mythical ladder Posted by mombers 12 09 PM 6 Comments Thursday May 14 2015 Same council routinely rejects planning for greenbelt Bbc East Cheshire needs 36 000 homes by 2030 Council leader Michael Jones said he cannot rule out using green belt land The Conservative leader Mr Jones said green belt was sacrosanct but admitted some of it could be allocated for building Posted by mark 01 18 PM 0 Comments Better invest in Icebergs Money CNN The global economy has a titanic problem King says that if China starts to see negative economic growth the global economy would go bonkers Posted by mark 11 08 AM 2 Comments Property is bubble 1 ready to pop MoneyWeek Three bubbles that are ready to pop Cheap money artificial credit and zero interest policies have created all sorts of bubbles since 2008 Here are three that are ready to pop Posted by andrew williams 09 41 AM 20 Comments Some govt propaganda to start you day BBC A guide for first time buyers as house prices rise again Help to Buy ISAs should be available from autumn 2015 ministers still need to finalise the details with industry and will stay open to first time buyers for four years Help to Buy Equity Loan Announced in October 2013 this scheme was aimed at providing nearly à  10 billion for almost 200 000 home buyers hared ownership schemes are provided through housing associations People buy a share of their home 25 to 75 of the home s value and pay rent on the remaining share Help to buy Mortgage guarantee scheme Posted by khards 09 33 AM 0 Comments All about the Red and Blue Wings of the Homeownerist party BBC Could a UK politician ever vow to bring down house prices Someone else has had the same thought someone here had years ago I remember that in the same thread a home owner with the emphasis being on owner as opposed to mortgagee saying that they would be de be pleased if prices dropped 50 because then they could afford to move and get a decent one I m now in a similar position myself hence the continued interest in this subject Posted by tenyearstogetmymoneyback 07 43 AM 5 Comments Wednesday May 13 2015 So what can be done to prevent the unearned benefits of landownership being concentrated further Torygraph Owning a home is falling out of fashion around the world The lesson is we should try to intervene as little as possible in the housing market and let consumers decide the right balance between owning and renting Surely intervening less in the housing market means No more free public services policing fire brigade all charged for at their value i e land rent No planning laws you can do what you like with your property but can t obstruct others More likely all talk and no action just deflect the issue Posted by mombers 04 03 PM 3 Comments Monday May 11 2015 And so it begins Independent House price boom to follow Tory victory Estate agents predict bun fight over London Prime Well they would wouldn t they Posted by chrisch 05 12 PM 20 Comments House Price Crash 2019 Share The Rents Osborneà   s Legacy The Ladder of Despair George Osborne is selling the Conservative Party as saviour of the British economy And yet his swansong as Chancellor of the Exchequer was a catalogue of disasters that smooth the way for the Crash of 2019 Posted by pete green 12 49 PM 3 Comments Only à  27 500 per building plot Dailymail Farmer turns down à  275MILLION to sell his land for housing Just shows the real value of land for building plots à  275 million à  27 500 per plot Posted by mark 09 09 AM 6 Comments Sunday May 10 2015 The people we love to hate Independent Letting agents fined for collusion on fees Welcome to another five years of reality for generation rent Posted by chrisch 09 46 AM 2 Comments Saturday May 9 2015 Post Election Business as Usual Notayesmanseconomics s Blog The twin economic challenges facing the UK post election are the trade deficit and house prices With the annual rate of earnings growth being 1 3 in February I think we can say that house prices are not being driven by wage growth We await what house price friendly moves the new government will add to its existing portfolio but is there much else left other than trying to push mortgage rates even lower This of course returns us to my view on the likely next move in UK Base Rates being down Posted by quiet guy 08 28 PM 0 Comments Friday May 8 2015 Not just houses Britain is full steam ahead Planning Magazine Planning applications for factories double in 2014 As stated in the previous post we are at the beginning of a boom that will last until 2026 2028 Any recession depression commencing then will likely be over 2030

    Original URL path: http://www.housepricecrash.co.uk/newsblog/2015/05/index.php (2016-02-09)
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  • News Blog - HousePriceCrash.co.uk
    Risky mortgages are back on the rise Risky mortgages are back on the rise just months after the Bank of England capped home loans as bank profit margins are squeezed by a glut of supply and falling housing demand Figures from the Bank of England published on Wednesday showed that while mortgages had become less available to borrowers with deposits of 25pc or more those worth more than 90pc of the propertyà   s value had risen for the first time in nine months Looks like the markets into sucker territory that s 6 to 18 months before a flat out price collapse followed by a banking panic and the rest Posted by khards 04 45 PM 1 Comments UK house price growth hits five month high in March RICS Reuters UK house price growth hits five month high in March RICS British house prices grew at their fastest pace in five months in March fuelled by a shortage of properties a survey showed on Thursday adding to other signs that a cooling of the market may be ending Posted by cornishman 03 02 PM 3 Comments Tick tock tick tock Guardian UK economy a ticking time bomb set to explode after the general election Albert Edwards who heads the global strategy team at investment bank Socià  tà  Gà  nà  rale and is well known for downbeat views chides the coalition for a legacy of à   grotesquely wide deficitsà   in both the public sector finances and on the UKà   s current account à   its overall trading position with the rest of the world Posted by debtserf 09 06 AM 4 Comments Fear Paralysis Jitters Because the election Telegraph Mansion tax fears and election jitters crippling property market and causing price bubble Fears of a mansion tax jitters over the election result and increases in stamp duty have paralysed the housing market and caused a à   worryingà   price bubble because so few properties are being put on sale estate agents have warned The Royal Institution of Chartered Surveyors Rics said buyers are scrambling to buy the few homes that are currently on the market squeezing prices up after months of relative stability Meanwhile the property website Zoopla warned that Ed Miliband s plans for a mansion tax would have a à   significantà   long term impact on the housing market and would make it even harder for young people to buy their own homes Posted by debtserf 08 59 AM 2 Comments Wednesday April 15 2015 100 years of deflation anyone Dailymail 2015 tipping point for Inflation Very interesting chart there have clearly been periods of stagnation and deflation in the Past it also fits in with some commentators that we are heading for decades of DEFLATION Just like JAPAN after all we are doing exactly what they did which didn t work Posted by taffee 02 38 PM 8 Comments More Tory subsidised selloffs May2015 Extending à   Right to Buyà   is a terrible policy that even Thatcher didnà   t dare do Thatcher s Right to Buy was unrivalled in offering such poor value to taxpayers who paid for building council houses subsidised the massive discounts when they were sold at a loss and missed out on the rental income as a third of ex council houses ended up in the hands of private landlords Councils are now forced to pay private landlords high rates to house their homeless families Now Cameron wants to extend this scheme to Housing Associations Did you hear that private tenants Your taxes will be used to subside a relatively small number of tenants who are already in secure affordable accommodation to obtain a valuable asset Meanwhile youà   ll carry on paying sky high rents for a highly insecure one year tenancy Does that sound fair Posted by little professor 01 31 PM 2 Comments Tuesday April 14 2015 Housing associations say they ll sue if the Tories force them to sell off homes under right to buy Independent Help to Buy Votes Housing associations set to be crippled by Conservative plans to extend the right to buy policy will launch a legal challenge against the move they have said The Tories announced today that they will force housing associations to sell off homes at a fraction of their value despite warnings that the policy could cause the not for profits to go bankrupt Other housing association chief executives are quoted as saying they à   would be surprisedà   if a legal challenge did not happen because the policy would risk the viability of the entire social housing sector Posted by debtserf 11 32 PM 16 Comments When the loot from the pension freedom bonanza runs out will OAPs sell up Torygraph Australians got pension freedom and they are running out of money Australia scrapped compulsory annuities 20 years ago but will probably have to bring them back so Britain s pension freedoms are a big mistake says Mark Wood This is a way down the track but I wouldn t be surprised if the same thing happened here Folk cashing in their pension blowing it all then falling back on the state The question is will the government bite the bullet and ask for the feckless to contribute by liquidating their housing assets instead of leaning on the already heavily burdened working population Posted by mombers 03 15 PM 6 Comments A policy that would get votes Telegraph Hong Kong announces property tax for foreigners Hong Kong has introduced a 15 per cent tax on foreign buyers in a bid to cool down its property market At the same time it has raised stamp duty for short term speculators as property prices overtake the record highs last seen back in 1997 In the first nine months of the year the former British colonyà Â

    Original URL path: http://www.housepricecrash.co.uk/newsblog/2015/04/index.php (2016-02-09)
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  • News Blog - HousePriceCrash.co.uk
    gaps list is endless Posted by taffee 08 05 AM 5 Comments Saturday March 14 2015 Because land banking is easier than building Guardian Decline in UK housebuilding accelerates drop off in construction activity The ONS has reported a decline in housebuilding in January Construction industry output in January was down 2 6 on the previous month dragged down by the decrease in housebuilding the Office for National Statistics said Within the figures there was a smaller decrease in infrastructure building of 2 4 thanks to major projects such as Crossrail A sharp fall in the number of mortgage approvals especially for first time buyers was blamed for the decline as homebuyers found themselves constrained by more stringent lending rules Housebuilders wary of creating a surplus of homes and triggering a price fall have halted some developments until the economic picture becomes clearer What will it take to get us building more homes Posted by quiet guy 08 24 PM 21 Comments Friday March 13 2015 This is why 500 000 pension savers will NOT be rushing into buy to let Telegraph This is why 500 000 pension savers will NOT be rushing into buy to let Reports predicting that a deluge of money will pour into buy to let following the Government s pension reforms are wrong This is why Posted by becky 04 44 PM 4 Comments Thursday March 12 2015 Beeb said it so it must be true BBC News London house prices continuing to fall says Rics House prices in London are moving in the opposite direction to the rest of the UK they are falling according to surveyors Mortgage refinancing is becoming an issue with more and more people Posted by tom101 11 01 AM 22 Comments Tuesday March 10 2015 Can I just have the child benefit back instead Mail 40p tax rate hits too many middle earners says Cameron as he hints at fresh action on the issue in next week s Budget Mr Cameron announced last year that a future Conservative government would raise the threshold for paying 40p tax from à  41 865 to à  50 000 by 2020 2020 Is that just before the newly formed RAF Reservist Pig Flying Squadron takes off David Family is the bedrock of our country LOL Personally I d just prefer not to be taxed on my children s child benefit Just paid HMRC around à  1700 which pre tax means I need to earn an extra à  2833 a year gross I m really happy to subsidise the tax lost to corporate avoidance due to the failure of tax legislation Something stinks David Posted by doomwatch 01 41 PM 23 Comments A strange and exceptional phrase BBC The disappearing property ladder For millions of people under the age of 40 the property ladder has become a snake instead unsettling and threatening the very antithesis of the stability and security that a home ought to bring Posted by debtserf 07

    Original URL path: http://www.housepricecrash.co.uk/newsblog/2015/03/index.php (2016-02-09)
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  • News Blog - HousePriceCrash.co.uk
    Carney suggested that lower petrol prices ARE HERE TO STAY He doesn t mention that all commodities and transportation costs have plummeted in concert not just energy Does he even know what he is talking about Can a man contradict himself any more times in a speech Some say that it is doublethink others may say he is hedging his bets some may call it a Jedi mind trick Posted by libertas 09 59 AM 33 Comments Thursday February 12 2015 Shuffling public funds FT Landlords warn over right to buy extension That s social landlords They re warning against Duncan Smith s latest wheeze to give away housing association properties to tenants and thus reduce the housing benefit bill The HA would retain maybe 40 of the value of a property to pay off any residual debt Any surplus beyond this would be used to build more social housing although this is unlikely to produce a 1 1 replacement ratio really HAs point out that the depletion of their asset base would undermine their financial liability and bring their à  60bn debts onto the public balance sheet CEO of the National Housing Federation calls it genuinely stupid idea May be best to google the FT title if you re not a subscriber Posted by icarus 07 57 PM 4 Comments Danish 2month bonds reach MINUS 2 Uk investing Denmark 2 Month Bond Yield 1 month is not as bad neither is the 3 month Market seems to be pricing in DaneExit in 2 to 3 months time Co incides with potential Greek showdown Could ECB buy Greece at the expense of loosing Denmark Chump change Posted by libertas 06 51 PM 8 Comments Carney I will start printing if negative inflation gives way to bad deflation Sky Bad inflation asset prices falling Negative inflation CPI falling The governor of the Bank of England has said interest rates could be cut further and asset purchases expanded if negative inflation gives way to bad deflation Outlining the Bank s quarterly Inflation Report Mark Carney said it was more likely than not that the core consumer prices index CPI measure of inflation would turn negative in the spring Mr Carney welcomed weak inflation in the short term saying that falling commodity costs particularly oil provided a boost in spending power to UK households and most businesses He reiterated that the next change in monetary policy was likely to be a rise in interest rates something libby is not forecasting Posted by khards 12 42 PM 9 Comments Wednesday February 11 2015 For a minute I thought UK government were trying tp pump up Mail It s the best time EVER to take out a mortgage The next six months could prove the best time in history to take out a mortgage experts claimed yesterday They said a price war between lenders will make it the perfect opportunity for homebuyers or anyone remortgaging Posted by hpwatcher 09 56 AM 10 Comments Tuesday February 10 2015 UK s property boom based on ZIRP QE and disaster elsewhere Property Wire Central London property prices still falling latest index shows It s much nicer for people to believe it s based on something endogenous to the UK economy quietly forgetting that 20 years ago you couldn t give London property away Now oil has fallen China is cracking down on corruption Russia is sanctioned will worsen private banks are under investigation for tax evasion and money laundering and what eurozone money wanted to flee largely has from where will the next influx of foreign capital come I can t name one just yet So why should we price London like its land locked Monaco Manhattan Hong Kong Singapore The index shows that in January 2015 landlords with a property in Walworth recorded a negative real yield of 11 3 while in Belgravia the negative real yield stood at 7 1 Posted by sneaker 04 06 PM 5 Comments Wave of retirees entering BTL market will push home ownership further out of reach for young buyers Telegraph Pensioner landlords could drive up house prices for first time buyers A new generation of pensioner landlords is expected to flood the buy to let market pushing up house prices for first time buyers as more people turn to property to fund their retirement The study showed that 11pc of those approaching retirement plan to buy a second home to rent out compared to the 6pc of pensioners who currently rely on this form of income Annuity reforms which come into effect in April allowing baby boomers to withdraw their pension in one lump cash sum are expected to fuel a wave of purchases of one and two bedroom flats to rent Posted by debtserf 01 14 PM 10 Comments Instead of building more homes taxpayersà   money is used to push up housing asset prices Guardian Private landlords gain à  26 7bn from UK taxpayer Those who wanted to buy somewhere to live were at a disadvantage compared with buyers who could write off interest against tax He added à   Ità   s time landlords started paying more of their fair share so first time buyers could have a level playing field and the government could have the resources to build more social housing à   Posted by debtserf 01 09 PM 1 Comments Monday February 9 2015 Business Lending Baloney Notayesmanseconomics s Blog The rise of the disappearing UK mortgage rate A discussion of mortgage rates and the Funding for Lending scheme Richards is clearly of the opinion that FLS was nothing but a ruse to justify boosting the property market If we switch to the Bank of England data then we see that its two year 75 loan to value index peaked at 6 6 in June 2008 This then fell in response to monetary policy easing to 2 92 in September 2011 but then rose to 3 74 in

    Original URL path: http://www.housepricecrash.co.uk/newsblog/2015/02/index.php (2016-02-09)
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  • News Blog - HousePriceCrash.co.uk
    warning Tracker mortgages are supposed to follow the Bank of Englandà   s base rate which has remained at an historic low of 0 5 per cent for almost six years But the building society shocked customers when they ramped up their rates in December 2013 pushing some from 1 99 per cent above the base rate to 3 99 per cent Posted by khards 07 59 AM 4 Comments I am waiting for the 15 20yr fix Its coming This is Money Nationwide BS launches cheapest ever ten year fixed rate mortgage at just 2 84 People here completely fail to understand how profound these low rates are People are buying homes and paying maybe 30 less than rental on deals like this with half their payments being re payments Plus the fix means rates do not rise yet rent rises each yr Meanwhile debtserf sits on the sidelines paying somebody else s mortgage supporting buy to let but he could fix payments for 15yrs after which time he would own probably 60 of his home But for those thinking about taking the plunge variable rates are absolutely plunging Ours is 1 3 plus base rate Soon as mortgage providers realise that the next BOE move is DOWN to 0 25 or lower if there is a panic we will start seeing total flattening of the yield curve and fixed rates better than this fixed for 15 20 and even 30yr Posted by libertas 06 50 AM 19 Comments Wednesday January 21 2015 Lack of volume is the precursor to price falls Telegraph Why I won t be buying a property The biggest barrier remains getting a deposit with 61pc unable to source the money needed up from 57pc before Effective demand for houses at these insane prices has ground to a halt Weak transaction volume in recent months suggests these prices are unsustainable Posted by debtserf 09 48 PM 11 Comments First dollar peg to fall following breakdown of the Swiss Euro peg Zero Hedge Oil Producers Currency Collapse Continues Nigeria s Naira Crashes To Record Low Against Dollar Having proclaimed it is not Zimbabwe Nigeria s currency is starting to look a lot like a hyper inflating mess After devaluing to a 168 peg in November the Naira has crashed to 200 USD today smashing above the upper peg band of 176 as it appears Nigeria is losing control It appears that we are moving to a new world order determined by global capital flows rather than central bank manipulation Posted by libertas 02 58 PM 0 Comments UK yields collapse below base rate Cuts to follow BBC News Bank of England MPC unanimous on holding interest rates Expectations are now of a rise in 2015 but Gilt yields have collapsed to 0 35 on 2yr notes indicating market expectations moving towards a rate cut I expect a cut to 0 25 as inflation drops to zero or a panic 0 5 cut to 0 with deflation Danish ERM collapse and ECB QE causing a stampede into Sterling Posted by libertas 01 40 PM 1 Comments Tuesday January 20 2015 The MMR Effect Mortgage Strategy Slow ahead Tighter lending criteria which came as a result of the Mortgage Market Review may also play a part in stifling the lending boom In fact one of the reasons for rock bottom rates late last year was not just that expectations of a Bank of England base rate rise were put back but also because lenders were behind on their targets which led to a price war to drive business MMR is a nostalgic return to the lending criteria of the 70s Way back when average prices were 3xEarnings Forget supply and demand the real driver of prices is and always has been easy credit and MMR has placed firm limits on it Posted by debtserf 03 53 PM 8 Comments Watch the Fed RAISE interest rates Reuters Petrodollars leave world markets for the first time in 18 years Low oil prices mean that petrodollars are no longer being recycled oil producers are even sucking money out into western US financial assets Global liquidity will fall leading to higher borrowing costs and the Fed will have to look for new support for stock bond asset markets and for the dollar s reserve status The only tool available to it is higher short term IRs despite the weakness of the economy deflation slow growth stagnant wages falling lab force participation The Fed has made loud noises in this direction lately and the reduction in US current account deficit gives it some leeway for a rise Good for US assets G Sucks and JPM very bad for the emerging markets remember 1997 with big dollar denominated debts and more capital flight Posted by icarus 03 24 PM 11 Comments at the taxpayer s expense Torygraph How to get rich quick from Crossrail H T Mark Wadsworth Don t really know what to say I wish my salary was subject to 0 taxation like this is Posted by mombers 01 37 PM 6 Comments 10 years of a bull market 5 years of intensive support time for deflation to hit housing Telegraph Gazundering to return to the housing market as buyers get the upper hand Inertia has hit the UK housing market as sellers await the outcome of the general election and stricter mortgage regulation suppresses buyer demand according to property website Rightmove The number of homes registered for sale per estate agent fell to its lowest level for five years in December with available stock 10pc lower than in the same month a year earlier Posted by hpwatcher 10 50 AM 4 Comments Monday January 19 2015 Could 2015 beat 2014 for house prices City AM UK house prices rise unexpectedly Stamp duty to the rescue After a muted end to 2014 London house prices grew 0 9 per cent in January compared to just 0 2 per cent in the first month of 2014 Possibly the bull market has only just taken off with Switzerland demonstrating a desire for capital to flee the Eurozone Many ploughed in last year to grab fixed rates that now look expensive and so this year we may see the less prudent bunch snapping up properties on uber cheap variable rates that just keep getting cheaper with buying now often far cheaper than renting due to incredible rate cuts Posted by libertas 10 58 PM 10 Comments We are seeing the Eurozone transform real time Zero Hedge Denmark Goes NIRP er Slashes Rates To 20bps Amid Currency Peg Fears Another buyer of Euros will disappear if Denmark breaks its Euro peg I doubt it can survive QE Basically ECB has lost Switzerland and possibly Denmark to gain Greece Chump change Terrible investment Posted by libertas 03 31 PM 5 Comments Sunday January 18 2015 Actually its a tug of war between a rising Dollar falling Euro collapsing currency pegs Armstrong Economics The Dollar Pegs are Next The next crisis will be the currency pegs against the dollar Here we have pegs from Hong Kong to the Middle East We will have the same problem for as the dollar is driven higher thanks to the implosion in the Euroland these nations will import DEFLATION from a rising dollar This will break their backs and force pegs to collapse around the world Armstrong points towards the dollar reaching a strength that breaks its pegs around August 2015 He says this would lead to an awful depression I doubt it I think that free market economics come alive with floating pegs providing multiple buffers to spontaneously regulate capital flows and absorb imbalances However adjustment could be painful Posted by libertas 10 16 PM 8 Comments To make the impossible possible To rise and riseà   Guardian Buying a home in Britain should not be an impossible dream Only way to resolve it is to make sure the UK citizens can get a piece of it in preference to non UK citizens and to make sure that no UK citizen can get too much of it at the expense of other UK citizens Posted by debtserf 02 29 PM 1 Comments Britain was only only 2 hours away from social collapse This is money ALISTAIR DARLING INTERVIEW Britain was two hours away from total social collapse Former Chancellor on the crisis that erupted FIVE years ago this week This is an old article from September 2013 But the events of the last week with the SNB show that the financial system is far from mended and one could argue that for all those that argue that house prices will keep going up in a straight line there is a equally good argument that we are going to have a major financial crash that reverses this line There must be very strong reasons why for the first time in recent history the SNB or any central bank changed a policy that it was committed too knowing full well it would destroy many of their exporting companies Posted by britishblue 11 49 AM 2 Comments Friday January 16 2015 Austria could be the next Eurozone shoe to drop Zero Hedge What The Soaring Swiss Franc Means For AUSTRIAN Hungarian And Polish Mortgages Spoiler alert nothing good Looks like Austria is in deep doo 9 of its mortgages and 20 of retail lending is in Swissie Highly deflationary Not as bad as Hungary or Poland but the size of the Austrian economy makes this a greater headache for the EU Bear in mind that the Swiss currency is likely to retrace the earlier 40 currency appreciation over the next year or so GBP has appreciated about 30 the last three years against Euro but not in one day and we take out mortgages in our own currency What IDIOT allowed the EU s free trade rules to allow citizens to take out mortgages in foreign currencies on the hope that pegs don t break This is totally irresponsible At least Hungary facilitated conversion into local currency after 2008 Poland and Austria have not Posted by libertas 10 36 PM 0 Comments A chill is blowing through the economy Yahoo Broker Alpari UK declares insolvency after Swiss franc losses urrency broker Alpari UK declared insolvency Friday after clients losses linked to the sharp rise in the Swiss franc were passed on to the company The news revealed in a statement follows a similar announcement by Global Brokers NZ in New Zealand Posted by mark 12 49 PM 4 Comments Netherlands is the next Eurozone shoe to drop Uk investing Netherlands 2 Year Bond Yield Overview Reading the FT today they suggest that the Dutch Euro peg is the next to break with the Guilder breaking out to the upside with the Czech Koruna breaking afterwards to the downside Dutch yields are collapsing into negative and as with Switzerland there comes a point when purchasing Euros to sustain a peg makes the central bank balance sheet unsustainable These pegs are providing support for the Euro because they involve massive purchases Once over the Euro will weaken This precipitates the yet unforeseen issue of Germany because a progressively weak Euro makes Germany s membership less sustainable as German yields collapse into extreme negative territory with beg breaking ECB QE breaking Germany This is like the breakdown of Bretton Woods a cascade Posted by libertas 12 19 PM 11 Comments Thursday January 15 2015 How 40 years of financialisation enriched the few and made debt serfs of the many Counterpunch 40 years of economic policy in one chart Lots of charts from the US over the past 40 years showing how government policies QE AND other policies have enriched the 1 and made debt serfs of most of the rest Obama s record in this regard is worse than GWB s No wonder FTB age is increasing NB The chart The wealthy own most financial assets isn t properly labelled it shows the proportion of shares owned by each wealth quintile dunno why the bottom quintile owned so much in 1989 Posted by icarus 03 09 PM 5 Comments What can i say Yahoo Polish zloty tumbles 20 against Swiss franc over mortgage fears It also soared nearly 20 percent against the Polish zloty which is bad news for some 700 000 Polish households that hold mortgage loans in Swiss francs Posted by mark 02 34 PM 21 Comments Get down Shep Daily Mail House price growth stalls to lowest level for 19 months with property values in London falling for the first time Big variations across the UK as some areas are still recording increases London house prices are the main contributor to slower rates of growth Weakest pace of house price growth recorded by Rics since May 2013 Posted by hpwatcher 01 35 PM 1 Comments Oh dear how sad never mind This is money House price growth stalls to lowest level for 19 months with property values in London falling for the first time The pace of house price growth fell to its weakest level in more than a year and a half in December with values in London falling for the first time since 2009 according to the latest national property report Property experts reported huge variations across the country with Northern Ireland Scotland and the North West of England seeing the strongest growth in property values while London was the only region where prices were seen falling more than rising Posted by hpwatcher 09 45 AM 0 Comments Defying the forces of a world depression Telegraph London house prices to fall up to 5pc as sellers abandon the market Estate agents expect house prices in London to drop by as much as 5pc this year with the cost of larger family homes falling the most an industry survey has revealed Posted by hpwatcher 08 28 AM 7 Comments Wednesday January 14 2015 Bullish Quartz com Beijing goes hunting for overseas real estate bought with dirty money Chinaà   s corrupt officials and crooked businessmen have smuggled billions of dollars overseas much of which has ended up in real estate in the United States Canada Australia and the United Kingdom Now the Chinese government is embarking on a worldwide hunt to seize the properties with help from foreign governments according to asset recovery and anti corruption specialists Who s gonna pick up the Chinese hot money slack now Posted by debtserf 04 53 PM 2 Comments Whilst people bet on the next rate rise others are cashing in on rate cuts Mortgage Introducer Nationwide cuts 10 year fixes Again Sweet I save another à  20 a month after saving à  88 a month on the mortgage last month Second re mortgaging since October Don t you love these zero fee no early repayment charge tracker loans Never did my rent ever fall not once Posted by libertas 12 12 AM 18 Comments Tuesday January 13 2015 How landlords benefit from the rest of us FT Landlords make à  177bn from rising house prices over 5 years The value of the stock of privately rented property in place in 2009 has increased by à  177bn and there s a further increase of à  247bn in the value of the stock that s newly rented since 2009 that includes stuff that s only recently been rented and valued The value of all privately rented property has increased by 57 during the period while owner occupiers have seen rises of just 20 those without a mortgage or 5 those with a mortgage All thanks to low house building and high prices for would be FTBs forced to rent and to HB payments to private landlords up from à  3 4bn in 1998 to à  9 3bn in 2014 Generation Rent s man says despite these huge returns to landlords private sector tenants get the worst living conditions the worst security of tenure Posted by icarus 03 02 PM 8 Comments Oil crash a flash in the pan Dr copper says not Uk investing Copper Futures Mar 15 HGH5 For those who say that oil prices are down due to manipulation and not supply and demand pray tell who is manipulating copper down at the exact same time for what reasons Is somebody going to suggest that this is an attack on Mexico Of course not A collapsing commodities complex plus collapsing shipping costs and falls in all fuel types cannot be precipitated by any market player This deflation is structural Rates are destined to go negative Posted by libertas 02 48 PM 10 Comments Deflation and negative rates become a certainty Financial Times UK inflation falls to lowest in 15 years Will folk please write below when they predict the rate cut to 0 25 will occur My bets are on for June Oil prices are still falling with only some of the fall fed through to prices Posted by libertas 02 42 PM 9 Comments Good summary IMO BBC News Why can t the UK build 240 000 houses a year In 2007 the Labour government set a target for 240 000 homes to be built a year by 2016 The UK is nowhere near that Why For decades after World War Two the UK used to build more than 300 000 new homes a year Recently it s managed about half that The country is facing up to a housebuilding crisis A decade ago the Barker Review of Housing Supply noted that about 250 000 homes needed to be built every year to prevent spiralling house prices and a shortage of affordable homes Posted by reticent 12 47 PM 5 Comments Monday January 12 2015 The only way is DOWN baby to 0 25 then negative oh the only way is down Telegraph Rejoice inflation is sub 1pc This is what Mark said to

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  • News Blog - HousePriceCrash.co.uk
    Hammersmith and Fulham have dropped significantly over the last 2 months are their flat prices now set to continue their upward path Posted by alan 09 21 PM 4 Comments One Man s Blessing is Another Man s Curse BBC UK inflation rate at 12 year low of 1 as fuel costs fall Inflation as measured by the Retail Prices Index fell to a five year low of 2 down from 2 3 for comparison purposes Lower energy prices benefit drivers on the UK forecourts as oil producing countries weather the storm of lower income for the same productive work Among others this will undoubtedly help some people struggling to pay their monthly mortgages Posted by alan 09 10 PM 1 Comments Monday December 15 2014 Cameron loosing confidence in outright Tory win for 2015 Mail First time buyers under 40 to be offered 20 discount on 100 000 new homes starting next month David Cameron will today announce that the Starter Home initiative will be fast tracked so potential buyers can register as early as January Under the scheme 100 000 houses will be built on so called brownfield land and reserved for sale only to young people buying their first homes Posted by hpwatcher 02 38 PM 23 Comments Price Index shows fallng prices Rightmove December 2014 Year ends with largest ever monthly fall in price of property coming to market Download your own pdf Posted by alan 10 14 AM 8 Comments Sunday December 14 2014 Stress Fest Observer Assets collapse loans go bad à   Britainà   s banks brace for a serious stress test Simulated à   market tantrumà   likely to be the first of an annual event under Bank of Englandà   s new regulatory regime House prices fall by an unprecedented 35 and base rates jump above 4 putting pressure on household finances already feeling the pain of falling real incomes Unemployment doubles to 12 and inflation rockets in an economy being buffeted by a sharp drop in the value of the pound In the worst slump in almost a century Foresight or fiction Posted by debtserf 09 14 PM 16 Comments Saturday December 13 2014 Spivs crash through Planning Policy Telegraph Streetwise builders fighting planning protections to build in two thirds of rural areas says NT Two thirds of councils in large rural areas are having their planning protections challenged by à   streetwiseà   house builders who are à   gamingà   the system according to new research from the National Trust Miss Samuel accused David Cameron the Prime Minister of going back on his word in 2011 that local peopleà   s views would be respected its called Crony Capitalism my dear Posted by alan 03 59 PM 8 Comments Says it all really Independent Why first time buyers are doomed A quick glance at the chart and you can see all the hyperbole and HPI obsession is real We all know it can t last Yet it does Posted by chrisch 11 07 AM 2 Comments Friday December 12 2014 Foreign Investors facing CGT in 2015 International Business Times Foreign Property Investors Corrupting the UK Market Foreign investors were corrupting the market by buying homes above their real value How will new CGT rules scheduled to come into effect in April 2015 affect the market Posted by debtserf 02 25 PM 2 Comments Forget the headwinds just keep borrowing Telegraph UK stocks head for worst weekly rout since 2012 on economy fears Fears about Greece plus worries that Europe will slide back into that crisis have rattled world markets in recent days Chaps forget these trifles just watch The One Show and be entertained Then buy lots of Christmas presents that won t be used Consume for goodness sake Posted by alan 11 49 AM 0 Comments Oi Wanna Loan a Mortgage Telegraph Britons are living beyond their means says OBR Head of Government s fiscal watchdog says consumer spending has accelerated ahead of pay growth at its fastest rate since the 1990s Posted by alan 11 41 AM 1 Comments A perfect partnership Shelter Shelter KPMG partnership Shelter and KPMG are unlikely bedfellows but it turned out to be a perfect partnership When you take Shelter s values and add in some skilled volunteering and pro bono work you end up with the housing crisis distilled into one world class politically neutral report that has influenced manifestos and policy across the entire political spectrum There is link to a short film at the bottom of the article page and I ll provide a link to the jointly produced report in the first post The report is comprehensive and so conclusive that there has been absolute buy in from every major party and council in England Everyone agrees what has to be done now and incredibly it s actually happening 2016 is forecast to be the year that the UK finally starts to build enough homes Posted by flashman 09 53 AM 59 Comments Thursday December 11 2014 And for the price of a damp London bedsit we have Daft ie Detached 2 bedroom This traditional cottage is located just feet from a beautiful sandy beach The cottage is very private on its own grounds of circa 530m2 The Beach house itself is fully restored with insulation and double glazed windows It has a kitchen sitting room two bedrooms and a separate bathroom Extension or modification of the house is possible subject to the necessary planning permits This Island is a short boat ride from local piers such as Fahy Coolacloy Clifden or Eyrefort Beach Turbot Island Beach house is an ideal investment opportunity and it is one of only a handful of houses on this beautiful unadulterated island where houses rarely come up for sale With no ferry service to Turbot Island you can be assured of your privacy Posted by khards 02 59 PM 6 Comments Are you starting to see the trend Bloomberg Norwayà   s Of course Norway so dependent on oil taxes has been forced down this route because the commodities slowdown makes Norway s huge national debt unsustainable you are witnessing the slow collapse of Socialism Britain will be forced to follow suit in short order and note most current mortgages price in a 0 25 rise in rates What will happen when the market prices in a 0 25 cut and subsequent cuts to follow that is an absolute bomb in the housing market Note despite the economy being larger than 2008 with at least 3 million more people most in London prices are not far off 2008 levels and transactions are well below All points towards a major housing price boom with recent stamp duty changes creating a massive improvement to SENTIMENT Posted by libertas 12 58 PM 26 Comments Wednesday December 10 2014 A good opportunity to pay of that mortgage debt BBC Unleaded petrol drops below à  1 20 a litre The average price of UK petrol has dropped below à  1 20 a litre its lowest level since December 2010 according to government figures Oil has fallen from about 115 à  72 per barrel in June to about 65 per barrel a decline of almost a half As oil affects many of the things we buy we should expect them to get cheaper Posted by alan 08 58 PM 13 Comments Conveniently ignores state and local taxes in the US which are 35 of their revenue Torygraph Britain has highest property taxes in the developed world but how do the rest stack up So frustrating when influential publications like this trot out blatant lies By ignoring state and local taxes in the US they exclude almost half of the tax take federal is 3 3tn state and local is 2 7tn Of state and local 35 is property tax http taxfoundation org article sources state and local tax revenues H T Mark Wadsworth This would put the honest figure well above the UK And of course wealthy residential landowners in the UK have the luxury of avoiding any meaningful property tax but just not selling as stamp duty is the only tax on houses worth more than approx à  1m where council tax is capped Posted by mombers 02 11 PM 2 Comments Green Belt and Nimbys vs Immigrants Telegraph Britain has masses of room for more people OBR says Since more immigrants mean more housing more roads more airports more incinerators more of this being required and since the evidence would suggest that people by and large donà   t like these things especially if they are near them thatà   s the key issue about immigration that people may wish to face up to Posted by quiet guy 01 15 PM 7 Comments Tuesday December 9 2014 Gees who would have thought it MaxKeiser Central Banks Create Deflation Not Inflation he central banks have been frustrated in their insane and misguided aim to increase inflation because QE and ZIRP actually foster the opposite of what central bankers expect Central bankers and conomists think that to get inflation they only need to print more money not recognizing that the inflation that does result from money printing asset inflation leads eventually to consumer goods deflation ZIRP and QE cause malinvestment and overinvestment that leads to excess productive capacity central bank easing and zero interest rate policy ZIRP fuel over capacity which leads to declining prices deflation with a capital D The current oil glut is a primary example of this dynamic Why Oil Is Finally Declining Which Could Lead to Disaster Wall Street Examiner Posted by khards 05 14 PM 17 Comments You have to be cruel to be kind BBC News Interest rate rises won t wreck the recovery The most striking statement in the Bank s new debt analysis is that gradual increases in interest rates from their current historically low levels should not have unusually large effects on household spending Posted by hpwatcher 03 54 PM 2 Comments 1000 s could be underwater in their mortgages when rates rise Mail Bank of England warns thousands more households will struggle as rates rise The Bank of England has estimated that a sudden rise in interest rates could make as many as 660 000 UK families vulnerable but added that household debt levels were now below long term averages Posted by hpwatcher 01 25 PM 6 Comments An example of the Eurozone depressing inflation Guardian Portuguese bricklayers paid à  1 000 a week due to shortage of UK workers Of course without freedom of movement rather than seek Portuguese brick layers UK PLC would have to bid up British wages resulting eventually in wage led inflation and interest rate hikes HOWEVER with construction depressed throughout Europe there is an endless supply of labour to suck in As said the new wave has already begun with Ukrainian immigrants and via them Russian immigrants moving into Britain in vast waves Expect Ukraine to get EU membership sooner than we imagine followed by Turkey For those who think rates will rise they are fighting the economy like it was still 1996 before we opened up to Eastern Europe Posted by libertas 01 16 PM 0 Comments Interest rates could rise very soon Telegraph Economy could overheat if interest rates left on hold warns Bank rate setter Interest rates must be raised sooner rather than later a Bank of England rate setter warned on Monday to prevent the economy overheating Martin Weale who has voted in favour of higher interest rates since August said that low levels of growth in output per hour worked had historically held back total supply If this is persistent à   in the short term interest rates would need to be higherà   he said Posted by hpwatcher 01 00 PM 1 Comments Final warning for reduced to negative interest rates Uk investing UK 2 Year Bond Yield Overview Looking at the weekly chart UK 2yr bonds are inches from breaking support at around 0 5 They look likely to slam lower and the BOE will be forced to follow to avoid Gilt issuances being over subscribed Over night crash in oil prices Chinese stocks plus news of faltering UK manufacturing make this imminent now though markets may wait for confirmation in the inflation figures before the final takedown As a result stocks house prices and bond prices are set to begin a new leg of the bull market House prices will likely soar over the 20 we experienced this year as a combination of lower rates and stamp duty reforms alongside a lack of properties from the summer feeding frenzy create panic buying Posted by libertas 12 36 PM 5 Comments Final warning for an interest rate BOOM MoneyWeek Higher interest rates are coming à   ità   s time to fix your mortgage House prices at least in London seem to have hit a turning point In spring prices went wild as buyers lost their heads In the summer the market slowed down as new rules hit lending Now prices are starting to fall This is long overdue London prices need to drop by at least 15 20 before they are approaching being affordable Posted by khards 10 39 AM 5 Comments Monday December 8 2014 Negative interest rates now a certainty CBC Morgan Stanley predicts oil prices could drop to 43 US a barrel next year Oil has just broken support again If we smash down below 30 we could see oil settling at around 60 Petrol will go below à  1 a litre and mortgage rates will PLUMMET House prices and construction will soar Economies will boom Politicians will capitulate turning against inflation haling the deflationary boom With public finances sustained through deflation by negative interest rates Posted by libertas 05 39 PM 13 Comments Completely wrong idea Dailymail Young people need houseprice rises Of course what they actually need is price falls as the next step gap DECREASES in the 90s nadir they Solved the nequity problem with nequity loans Posted by taffee 12 43 PM 14 Comments BoE Warning not to turn a blind eye to Interest Rates Guardian Bank of England half a million housebuyers face mortgage arrears The Bank stressed the proportion of borrowers having trouble paying their home loans should remain well below the levels of the early 1990s à   when Britain suffered its worst postwar property crash à   provided incomes rose alongside interest rates The debt to income ratio held steady at about 80 during the 1990s rose steadily in the 2000s to peak at just over 130 and has since dropped to just over 110 Posted by mountain goat 11 06 AM 4 Comments Why fix now when you can fix better later This is Money Number of 10 year fixed rate deals increases fourfold in one year A year ago there were just 12 deals on the market compared with 51 today Next shoe to drop is 15 and 25yr fixed rates with break clause re finance options mid term as you get in USA Posted by libertas 12 32 AM 3 Comments Sunday December 7 2014 Interest rates paused paused CUT This is Money The interest rate and inflation bombshells in Osborne s plans ahead of next year s election The Office for Budget Responsibility now predicts that inflation will be well below the Bank of Englandà   s target of 2 per cent not just in 2014 and 2015 but in 2016 as well Obviously it benefits the Chancellor if rates are cut to 0 25 just before the election when inflation dips below 1 or goodness save us 0 or minus if the worst happened and inflation became deflation He will not tolerate avoiding paying ANY interest on the national debt now will he As I ve said unless oil turns around to new highs expect the trend for falling rates and relaxed lending criteria for a good few years Get your finances ready for a 10yr fix right 70 LTV about when rates are about to turn upward using this time to over pay and get your house in order That is what we are doing Posted by libertas 10 54 PM 0 Comments The good deals just keep a rollin This is Money HSBC offers five year fix at 2 48 for borrowers with a 40 deposit Read more http www thisismoney co uk money mortgageshome article 2853299 HSBC offers five year fixed rate mortgage 2 48 Santander launches 1 84 two year deal html ixzz3LFTfvLns Follow These deals are just out of this world and with predictions of inflation to go sub 1 even before oil prices crashed expect these incredible rates to soon look expensive Prices will soar beyond belief Posted by libertas 09 12 PM 6 Comments Tinkering with marginal demand Torygraph Steve Webb tells livid pensioners give us your money for a better interest rate Gov offers 4 bond yields to UK pensioners Whether or not you feel this is a good deal for pensioners this will surely restrict supply for those who are only prepared to pay the current going rate of 2 09 having had an annual record rise very recently There is no confirmed balancing plan for state spending Either way good deal or not the government is banging another drum to raise funds Posted by stillthinking 10 52 AM 3 Comments Friday December 5 2014 UK only had 40 of cuts Guardian Small print alert 60 of the cuts are still to come says the OBR Back loading the pain The OBR tries to assess what the governmentà   s plans mean for public spending over the next five years It says 60 of the cuts are yet to come The

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      21bn fund which would be used as seed money to entice private backers to pitch in most of the rest Only à   8bn of the original money would come from the EU budget itself Meanwhile the details that have emerged in the so called Luxleaks documents have put Mr Juncker in an uncomfortable position but who cares as long as the cronies get their cash and the proles get more austerity so what If anyone complains give them a free Kim Kardashian app Posted by alan 10 30 AM 8 Comments The Recovery Latest Telegraph UK GDP growth powered by consumer spending as business investment contracts Economists raise concerns about rebalancing as growth figures show UK expansion powered by higher consumer and government spending while business investment contracts The UK economy grew by 0 7pc between July and September following growth of 0 9pc in the second quarter the Office for National Statistics ONS confirmed Posted by alan 10 19 AM 1 Comments Tuesday November 25 2014 George Clooney look alike Telegraph BoE will raise interest rates despite euro gloom says Mark Carney Carney needs an academy award for acting In 2009 Cooney was included in Time s annual Time 100 as one of the Most Influential People in the World Alas Mark Carney can t seem to make up his mind what s what The Guardian recently advised him to say as little as possible to avoid more confusion but he s not happy with a walk on part To help him Google has reminded us that stocks of Ouija Boards are all but depleted in advance of Black Friday Maybe the MPC are still trying to find another way forward Posted by alan 06 51 PM 6 Comments Whatà   s Keeping Millennials at Home MISH S Global Economic Trend Analysis Fed Mystified Why Millennials Still Live at Home Bearish blog comment on a Fed study and analysis of housing trends of American young adults I suspect the stats are similar in the UK and many parts of the world Posted by mountain goat 03 42 PM 0 Comments Life under Tory policy Guardian Revenge evictions à   An electrician said our shower was unsafe The landlordà   s response was to evict What next Bring back the mills and pits More and more tenants are being evicted à   often unfairly à   new figures show But pressure is growing for change Posted by doomwatch 01 25 PM 8 Comments Is Nationwide a safer home for savers BBC Mortgage lending falls almost à  1bn at Nationwide There is concern that the rules are prompting lenders to restrict mortgages to anyone who will still be paying off their loans into retirement Nationwide also said it had increased deposit balances by à  3 5bn as the number of members with a Loyalty Saver account reached almost one million Quick question Is Nationwide safer than the main big banks Posted by alan 09 25 AM 13 Comments Sunday November 23 2014 Black Swan rising Reuters China ready to cut rates again on fears of deflation China s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions concerned that falling prices could trigger a surge in debt defaults business failures and job losses said sources involved in policy making Many Chinese economists had been calling for bolder policy actions as recent data showed the economy losing more steam in the fourth quarter and consumer price inflation falling Full year growth is on track to undershoot the governmentà   s 7 5 percent target and mark the weakest expansion in 24 years If true this will hit the UK and EU Posted by alan 07 23 PM 10 Comments Saturday November 22 2014 Something is very wrong Department for Communities and Local Government House Building September Quarter 2014 England Free markets generally respond to demand and rising prices with innovation and supply Except when it comes to buidling houses it seems Compare completions for housebuilding with prices over a similar period http www theguardian com business 2014 nov 20 britain net worth rises This is where I found the DCLG report http www insidehousing co uk home blogs stuttering starts 7006963 blog Posted by quiet guy 12 23 PM 2 Comments Friday November 21 2014 What was that about a recovery Mail Blow for George Osborne as government borrowing RISES sending the country s debt pile to à  1 5 TRILLION Borrowing increased by à  3 7 billion in the 12 months to October UK s debt pile has now hit à  1 5 trillion up à  150 billion in just a year Debt now represents 79 5 per cent of Britain s entire economic output Posted by hpwatcher 10 03 PM 2 Comments Another prop for a stalling property market Portfolio Adviser Chinaà   s surprise rate cut sends shares soaring China has cut interest rates for the first time in over two years in an effort to drive economic growth The Peopleà   s Bank of China cut the one year deposit rate by 25 basis points and one year benchmark lending rates by 40 basis points representing a surprise turnaround in policy Stalls in factory growth and the property market have contributed to the slowest rate of economic expansion that China has experienced in nearly a quarter of a century The FTSE 100 is trading up 76 points 1 14 at 6754 largely due to the move by China Posted by jack c 04 27 PM 10 Comments Thursday November 20 2014 US pension fund buys London estate Guardian New Era estate scandal families at the mercy of international speculators Homes across London have turned into an international asset class and their residents now live in financial instruments Posted by mountain goat 11 31 AM 7 Comments Bought house at market top now living well beyond their means Mail Just because I live in a à  1m house doesn t mean I m not on the breadline While our mortgage repayment is fixed at à  2 000 factor in bills food loans and the general upkeep of four growing boys and it adds up to more than à  4 000 Like most of UK this family think have a god given entitlement to whatever they want Posted by hpwatcher 06 41 AM 19 Comments Tuesday November 18 2014 Poor Milliband Off on the wrong foot AGAIN Guardian Myleene Klass à   goes full Paxmanà   on Ed Miliband over mansion tax Singer tells the Labour leader his à   disturbingà   plan to impose a levy on à  2m plus homes would hit à   little granniesà   She was supported by fellow guest former ambassador Sir Christopher Meyer who said à   Youà   re going to screw me royally à   Following the spat bookmaker Coral gave odds of 5 1 that Klass would become the next presenter of the BBCà   s Newsnight 20 1 she would become a Tory MP and 33 1 that she would become a Labour one Posted by alan 08 46 PM 18 Comments What will they do once rates are cut Telegraph Donà   t expect an interest rate rise until 2016 says HSBC What they won t expect is the cut to 0 25 once inflation is below 1 for longer than the bankster s capital bases can tolerate Also government like high prices because they can tax the prices of most things so they try to not allow deflation Posted by libertas 12 32 AM 38 Comments Monday November 17 2014 What an incredibly sad day for UK politics Telegraph House prices will go down if you vote Ukip Conservative candidate Kelly Tolhurst says homeowners fear a win for Ukip because it will tarnish the area The danger is if you vote Ukip the value of your house will go down said Charles Walker the Con MP for Broxbourne who was campaigning in the town this afternoon I don t care if you like UKIP or not this isn t the way to encourage people to vote on the issues of this country The article goes on to give house prices in the area FFS Posted by alan 06 11 PM 16 Comments Time to wake up BBC Rising housing costs will push millions into poverty The charity s report says that by 2040 people who rent will be more than twice as likely to be living in poverty than homeowners Its chief executive says leaders should build more affordable housing In a statement Julia Unwin said These stark findings are a wake up call for political leaders After decades of failing to build enough those in power have a responsibility to act now to build more genuinely affordable homes The charity predicts that by 2040 2 5 million less people will be living in social housing It says six million private renters that s half of all private renters will be living in poverty Posted by flashman 02 19 PM 17 Comments 20 Annualised This Is Money Fresh signs of cooling housing market as asking prices fall 1 7 in November Rightmove said house prices fell 1 7 per cent month on month compared with October as sellers compete to attract buyers during the quieter winter months although the average sale figure for the UK was up 8 5 per cent on a year earlier at à  267 127 Read more http www thisismoney co uk money markets article 2836703 Fresh signs cooling housing market Rightmove reports 1 7 fall asking prices November growth seen paused html ixzz3JJbBhMRs Follow us MailOnline on Twitter DailyMail on Facebook Posted by khards 09 07 AM 5 Comments Cameron prepares the sheeple Dailymail Second global crash is looming Telling us something we already know thing is they have been spinning the recovery to People encouraging people to take out debt on overpriced property and loans and credit Cards on the premise we are off to to races again which we are not otherwise we wouldn t Have emergency rates and props Posted by taffee 06 54 AM 16 Comments Sunday November 16 2014 Worst cuts yet to come Mail Trust in our political elite I d rather be led by garden gnomes Mr Osborne is actually deepening Britainà   s debt every second Whoever is Chancellor at the end of next May must make budget cuts at double the present rate to meet existing austerity targets Posted by hpwatcher 09 23 AM 5 Comments Saturday November 15 2014 Anyone surprised Telepraph House prices in surprise fall in October House prices across the UK fell by 0 4pc in October according to an index compiled by mortgage lender Halifax Posted by hpwatcher 12 32 PM 3 Comments UK borrowing even more than last year Mail Savage cuts You ain t seen nothing yet But the truth is that the UKà   s debt is far worse than it was when the Coalition took over Despite all Chancellor George Osborneà   s efforts to reduce spending we are borrowing even more than last year à   and because earnings are low so too are tax revenues making it harder to pay the interest on those debts without borrowing more Posted by hpwatcher 12 20 PM 3 Comments House sales volume hits a 7 year high Bloomberg U K October House Prices Rise 0 7 as Sales Hit Seven Year High At last some house price news that is not London centric It s the rest of the country that is driving this 7 year high in sales volumes We were told that MMR and worries about rate rises were curtailing the market then this news comes in If this happens under the shadow of MMR and rate worries then there must be some big forces at play Increasing private sector wages probably has something to do with it but the main driver is almost certainly population growth People need to trade up because of growing families and first time buyers immigrants and btlers are eager to buy what they sell If this news dismays you as it should then get behind the campaign to build more If you are priced out then a mass building program is the only thing that will save you from the rent trap Posted by flashman 10 20 AM 9 Comments Now this is what a bubble really looks like FT S P 500 hits record close for 41st time in 2014 Like clockwork the S P 500 has struck a new closing record high The benchmark index continued a four week streak on Friday ending the week 0 3 per cent higher to close at 2 039 82 a new record as upbeat earnings and better than expected retail sales kept stocks near recent highs Posted by hpwatcher 01 44 AM 6 Comments Friday November 14 2014 Boris helps Chinese builders who then give Tories cash RT Corrupt arrangement Boris brokered à  1bn deal with unethical Chinese firm The project has over 3 million sq feet of newly built office space 845 residents apartments and leisure facilities It is said to be the biggest Chinese property investment in Britain The C4 News investigation uncovered an unethically intimate relationship between ABP and London Partners à   the Mayorà   s taxpayer funded organization founded to entice lucrative foreign investment to London Of particular note is the fact that London Partners have shared office space with ABP in China for over nineteen months The suspected role of Xuelin Black an Anglo Chinese businesswoman and wife of Home Office minister Lord Michael Bates in the business arrangement also raises awkward questions I grew up in this area where families live in garages it needs social housing not fraud Posted by alan 09 21 PM 1 Comments Inflation to fall further as commodity prices dip BBC Brent crude oil price falls below 80 a barrel The price of Brent crude oil has fallen 3 60 4 4 to 77 52 its lowest level for four years The benchmark US crude oil price is also at a four year low after losing 2 57 to close at 74 28 Gold has also dipped despite the Russians stockpiling the yellow metal However news that ISIS plans to link their new currency to Gold may mean the recent causes of Gold s weakness is cut say the Twitter pundits It can t be long before the Coalition claim the benefits for lower prices coming through to the consumer Posted by alan 11 52 AM 11 Comments Thursday November 13 2014 Mansion tax is blamed Sky Mansion Tax Fear Hits H P Growth UK house price growth has reached a 17 month low with the prospect of a looming mansion tax contributing to price falls in London a closely watched survey has found Sky clearly has a different angle on House Prices than the BBC the move was driven by the worst price falls in London for four years and it could be partly explained by Labour s plans to tax the owners of properties worth more than à  2m the majority of them in the capital where average prices are now well above à  500 000 I thought it was the Lib Dems who thought of it first what a cheek Meanwhile UKIP has condemned the Mansion Tax on their website as pure populism ie clearly something UKIP would never be caught aiming for Posted by alan 09 02 PM 5 Comments Mortgage rules are blamed BBC Housing market dip only temporary says RICS Demand from new buyers slowed for the fourth consecutive month in October the Royal Institution of Chartered Surveyors Rics said Sales also declined during the month in all but a few regions of England and Wales Rics said Posted by alan 08 39 PM 1 Comments Wednesday November 12 2014 The injustices of pay and inflation BBC Pay growth beats inflation Wages excluding bonuses rose by 1 3 in the year to September beating the 1 2 Consumer Prices Index inflation rate This is the first time in 5 years this has happened and explains why houses are unaffordable to the majority of young people wanting to get onto the housing ladder Paul Kenny general secretary of the GMB union said Many of the new jobs are precarious and badly paid while the real value of take home pay for the rest of the workforce is 13 below pre recession levels It s not hard to see why Anonymous call the past few years a time of wealth transfer from the poor to the rich The article contains charts which are bang on context long timespan and easily understood without which no HPC thread could be called complete Posted by alan 08 37 PM 28 Comments Fraud all day every day Telegraph Banks fined over à  2bn Financial Conduct Authority and US and Swiss regulators fine banks over failings that saw traders make profits at customers expense Hardly a day goes by when some bank or other gets a fine but nobody gets nicked I think I need to go back on the tablets I m beginning to sound like Russell Brand Comments disabled by The Telegraph Posted by alan 08 11 AM 10 Comments Sunday November 9 2014 Bigger debt bigger bust FT Britain and the cuts Blow for Cameron as UK faces deeper cuts George Osborne must cut deeper into the budgets of the army police and courts as the annual savings needed to meet his austerity targets are set almost to double to à  48bn Financial Times analysis shows As Britain hits the midway mark

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    s right NOT the market It s an era of financial repression Box in the sheep grab their legs cut their wool off Simples Posted by alan 06 18 PM 11 Comments London cooling off Auntie Foxtons shares tumble 15 on house price warning Shares in Foxtons plunged 15 after the estate agent warned that the London s property market was cooling The company whose 50 branches operate mainly in the capital reported a sharp and recent slowing of volumes in London sales Posted by mountain goat 05 02 PM 1 Comments According to Paragon more than 18 of households are currently paying rent to BTL parasites Torygraph Buy to let boom one in five homes now owned by landlords The Government s own figures suggest that by 2032 more than one in three properties will be owned by private landlords Posted by landofconfusion 04 28 PM 3 Comments The have a right to oppose new development but not a responsibility to limit their own consumption Torygraph Move out of your big homes and help society minister tells over 55s à   It should not be the role of Government or anyone else to dictate to people what kind of house or living accommodation is best for them à   it should be up to them to choose à   Well let s get rid of all planning permission building regulations etc Posted by mombers 09 34 AM 11 Comments What about their mortgages Telegraph Marvelous UK recovery continues Taxpayer backed lender to reduce its workforce by a tenth and announce branch closures Posted by hpwatcher 09 16 AM 4 Comments National UK ponzi scheme needs another boost Telegraph Foxtons hit by sharp slowdown in London housing market Estate agent says activity in the UK s capital over the second half of 2014 will be significantly below levels in the same period a year ago Posted by hpwatcher 09 12 AM 0 Comments Wednesday October 22 2014 Another classic Keiser episode with Mitch Feierstein MaxKeiser KR669 Keiser Report à   Apocalypse Now We discuss the horror the horror of the apocalyptic scenes that central bankers have wrought upon the innocent and the deranged alike This apocalyptic aftermath of meeting the Colonel Kurtz like central bankers is an economy in which the under 30s are left behind and the pauperization of workers through inflation In the second half Max interviews Mitch Feierstein of PlanetPonzi com about how democracy has been vaporised in the UK and the result is the falling wages which have led to protests in the streets of London Posted by khards 08 08 PM 0 Comments Naughty Naughty here s a à  10 fine Telegraph The à  100 000 mortgage that cost à  250 000 equity release complaints rise Those turning to equity release risk paying added interest and early repayment charges that can in some circumstances quadruple the value of the original loan and cost borrowers up to à  200 000 extra As a result the number of disputes between mortgage companies and borrowers has increased Almost half of equity release borrowers do so to meet everyday costs according to the industry body the Equity Release Council Other causes include funding home improvements and helping grandchildren with a property deposit One elderly customer had to pay à  250 000 to clear a à  100 000 mortgage taken out just eight years earlier after downsizing following her husband s death What was worse only half of the à  100 000 borrowed had been spent Posted by khards 06 01 PM 0 Comments Fetch the engines fetch the engines Fire fire Fire Fire CNBC Luxury London property prices fall 20 The price of luxury homes in prime central London locations has fallen by over 20 percent according to a national estate agent signaling that a correction in the capital s booming housing market could be afoot Properties in the à  2 to à  5 million price bracket saw prices fall 27 1 percent in the same period Homes worth over à  5 million performed slightly better but still saw a decline of 15 2 percent As the U K heads into an election year in 2015 the uncertainty over the country s political future could deter buyers further Posted by khards 11 09 AM 7 Comments London s burning London s burning PropertyIndustryEye London market showing further signs of falls as sales collapse 27 The prime central London market is showing further signs of decline says Strutt Parker Its data for the third quarter of 2014 shows that both prices and transactions have slipped year on year The overall value of properties transacted by the firm is down 21 1 Properties sub à  2m saw a decrease of 20 8 while à  2m à  5m homes went down by 27 1 à  5m plus homes performed slightly better but still saw a decline of 15 2 A similar pattern emerged in terms of volume sales which were down 26 8 overall with all price bands seeing a reduction in the number of transactions Posted by khards 11 01 AM 0 Comments The cost of a Tory debt driven recovery Telegraph George Osborne set to miss deficit targets as Government borrowing jumps Year Borrowing Total PSND Interest 2006 07 36 3 526 7 28 6 2007 08 40 3 558 2 31 2 2008 09 100 3 724 4 31 5 2009 10 153 0 956 4 31 6 2010 11 133 9 1 101 0 46 6 2011 12 112 5 1 190 9 49 7 2012 13 119 4 1 299 1 48 9 2013 14 99 3 1 402 2 48 7 Posted by hpwatcher 09 54 AM 13 Comments A dismal analysis for savers and renters NotAyesManEconomics Blog Why I think a Base Rate cut in the UK is as likely as a rise going forwards I have previously posted some blogging by Shaun Richards at the Mindful Money site which he seems to have stopped using Though no fan of house price pumping he makes a case that we are stuck in a Japanese economic rut and our central bank is turning against the interest rates they have warned of for some years At one point he quotes a speech by Andy Haldane at BoE that particularly struck me In the UK real interest rates are now expected to remain negative for at least the next 40 years Posted by quiet guy 09 31 AM 1 Comments Tuesday October 21 2014 What goes up always comes down Daily telegraph Top end house prices in London slashed by 20 Articles discussed how top end house prices in London are being slashed by 20 London housing always acts as a wave and we will see this feeding further through London especially with the silly shoe boxes that are promoted all along the dirty river Thames What will be interesting is what effect this will have on sentiment If this feeds into the housing indices and the mood changes to one of property always goes up to property is way overpriced and we should wait until prices come down Posted by britishblue 05 35 PM 23 Comments Devaluation on the way More debt more interest that tax payers will never be able to repay Not The BBC Reuters Rising UK borrowing leaves no room for pre election sweeteners British government borrowing rose more than 10 percent in the first half of the financial year giving Chancellor George Osborne little scope to offer sweeteners to voters before a parliamentary election in May Britain s economy has staged a stronger than expected recovery since the middle of 2013 But that has not yet translated into a big increase in tax revenues in large part because slow wage growth has kept a lid on income tax receipts Revenues from income tax and employment insurance contributions in September 2 3 percent higher than a year ago However for the year to date it was up by just 0 5 percent Borrowing for September was 15 3 percent higher than a year earlier at 11 8 billion pounds the Office for National Statistics said Posted by khards 02 37 PM 4 Comments Debt Debt Debt Debt and more Debt BBC The UK s current account Achilles heel The Bank of England is now expected to defer any increase in its policy interest rate till at least next autumn to maintain momentum in household consumption business investment and construction in the expected absence of strong demand for British goods and services from abroad Domestic demand will become even more important to growth and making sure inflation does not fall too much further below its 2 target than it is today Stimulating domestic demand at this stage of the recovery brings risks especially because the UK has a record current account deficit or gap between the income it receives from the rest of the world and what it pays the rest of the world This deficit has now been more than 5 for three out of the last four quarters and is wider than since records began Posted by khards 12 34 PM 2 Comments Bye Bye Inheritance Telegraph Home owners use properties as cash machines to fund retirement Pensioners in their sixties and seventies in particular were turning to equity release an expensive type of borrowing which typically lasts for life Industry figures show the sum lent each day to the over 55s reached a record high between July and September this year à   Rising house prices also mean that customers have a growing pool of equity at their disposal à   In the early Nineties a man aged 65 could have turned à  100 000 into a lifetime income of more than à  15 000 a year by buying an annuity Today someone of that age would be offered nearer à  6 000 The research found 27 per cent of people wanted to give money to family members particularly grandchildren who were struggling to get on to the property ladder themselves Spending it before the government tax it Posted by khards 07 58 AM 3 Comments Monday October 20 2014 House prices going to the Moon Guardian Housing market slowing surveys show Council of Mortgage Lenders data shows à   plateauà   while Bank of England report points to caution among potential homebuyers Posted by hpwatcher 06 45 PM 6 Comments UK s debt fuelled Ponzi growth to overtake Chinas by 2017 Zerohedge Why Chinese Growth Forecasts Just Crashed To A Paltry 3 9 Up until a few years ago conventional wisdom was that China would grow at nearly double digits as long as the eye could see Then however something happened and China s 9 growth became 8 then 7 and even lower as suddenly the Politburo made it quite clear China would not chase growth at any cost especially when the cost is trillions in bad debt and other NPLs as we have explained time and again China s growth will slow sharply during the coming decade to 3 9 as its productivity nose dives and the countryà   s leaders fail to push through tough measures to remake the economy according to a report expected to come out Monday Posted by khards 05 38 PM 3 Comments Whilst U turn Dave and Cable ponce about RT Uà   ncertainty shockà   Hung parliament and EU referendum threaten UK economy Investors are concerned about the future stability of Britainà   s business environment warning of a à   huge uncertainty shockà   if the UK leaves the European Union or ends up with another coalition government after next yearà   s general election In a new report published on Monday the EY à   ITEM Clubà   predicts that growth investment in the UK will fall from 9 percent to 5 8 percent while GDP growth will fall from 3 1 percent to 2 4 percent The ITEM report also notes that the UK economy may find itself in a slump due to falling real wages as the Bank of England pursues its low inflation strategy to keep the economy growing Posted by khards 03 49 PM 2 Comments Bullish for slumlords Theguardian Britain faces future divided by rich and poor poverty commission warns Social Mobility and Child Poverty Commission report predicts number of households in absolute poverty will rise by one third this decade It suggests that the link between effort and reward on which social mobility relies has been broken by changes in the housing market à   with home ownership rates halving among young people in 20 years à   and the labour market à   with 5 million workers trapped in low pay Posted by khards 02 57 PM 0 Comments Spare a penny Mr Scrooge FT à   Mansion taxà   will mean bill of à  250 a month says Ed Balls Homeowners with property valued at à  2m to à  3m will face an extra tax bill of à  3 000 a year if Labour comes to power The new charge along with an annual profit tax on tobacco company profits would raise a combined à  2 5bn a year Labour estimates which would be earmarked to pay for more spending on the National Health Service Posted by khards 02 55 PM 1 Comments Sunday October 19 2014 Next leg of the housing boom to lift prices way above 2008 peak Guardian UK mortgage battle hots up as banks prepare to slash rates Barclays is preparing to offer some of its best ever deals including a 2 29 fix while HSBC has launched a 0 99 loan Negative rates coming soon Posted by libertas 08 27 PM 10 Comments Saturday October 18 2014 Here we go again Independent Bankà   s Haldane says interest rates will stay lower for longer So what will it take to get the MPC to raise rates And will we be reading the next excuses to keep coshing savers next year The only bright side I can see is that with the election over the next government might be less afraid of cutting back on the subsidies to property owners Posted by quiet guy 02 30 PM 14 Comments Friday October 17 2014 Five year fixed rate deals already down to 2 59 expected to smash through the all time low of 2 4 Guardian Fixed rate mortgages to fall further in wake of stock market turmoil Mortgage brokers are now predicting that rates of less than 2 will become the norm in the months ahead as lenders engage in a price war that looks set to intensify in the run up to Christmas Over the past month the yield on the five year gilt has fallen by 0 57 to 1 23 while ten year yields are down to 1 95 Posted by libertas 07 46 PM 5 Comments Flex rates now just 1 44 More to come as deflation sets in House prices will rise in response Financial Reporter Nationwide reduces rates for loyalty rate mortgages initiative From Wednesday October 8 Nationwide is reducing selected rates for existing Nationwide mortgage customers looking for a new deal As part of the Nationwide Loyalty Rate Mortgages initiative which compares the Societyà   s mortgage rates for existing customers to those of its top six high street competitors selected switcher rates will be reduced by up to 0 45 The Loyalty Rate Mortgages changes are as follows Two year fixed rates at 70 LTV reduced to 1 89 75 LTV reduced to 1 89 and 80 LTV reduced to 2 29 Five year fixed rates at 70 LTV reduced to 2 94 75 LTV reduced to 3 04 and 80 LTV reduced to 3 44 Two year tracker rates at 60 LTV reduced to 1 44 70 LTV reduced to 1 44 75 LTV reduced to 1 44 and 80 LTV reduced to 1 94 Posted by libertas 12 49 PM 19 Comments Nationwide slash early repayment fees Financial Times Nationwide cuts early repayment loan fees Payments now on a sliding scale decreasing with mortgage length A huge incentive to take out fixed term rates Posted by libertas 12 45 PM 2 Comments Thursday October 9 2014 Even more good news CML House purchase lending in August down 3 on July Buy to let lending fell 13 over the month to à  2 1 billion in August but increased 11 compared to August last year First time buyer lending declined in August compared to July with 28 900 first time buyer loans 4 fewer than in July but 9 up on August 2013 By value there was à  4 4 billion of lending to first time buyers 4 down on July but 22 higher than August last year Lending to home movers also declined with the number of loans advanced to movers totalling 36 500 a 3 fall on the previous month but up 7 on August last year By value lending to movers totalled à  7 billion 3 down on July but up 17 on August last year Posted by khards 11 39 AM 16 Comments Steam Evaporates Financial Times London house prices drop for first time in three years House prices have dropped in London for the first time in more than three years and are set to fall further this year according to estate agents in the capital RICs said on Thursday the à   steam was evaporatingà   from the market Martin Ellis the Halifaxà   s housing economist said the data suggested that annual inflation à   may have peaked around 10

    Original URL path: http://www.housepricecrash.co.uk/newsblog/2014/10/index.php (2016-02-09)
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