Cost to build: 10m Sale price: 3.4m - the real face of deflation?
Mail: Scotlandâs most expensive modern home that backs on to Gleneagles is up for sale for Â£3.4million
The property had originally cost Â£10million to build and is thought to be Scotland's most expensive modern home Built in 2007, it boasts a gymnasium, cinema, spa, a two-bedroom house, billiards room and a man-made lake Its previous owner is former Rangers FC shareholder Graham Gillespie who went bankrupt in 2012
On The Market opens tomorrow
Homeowners who want to sell their properties are being warned that from tomorrow they could miss out on potential buyers, as thousands of estate agents will stop listing homes on either Rightmove or Zoopla. A serious challenger to the two sites, onthemarket.com, goes live on Monday and agents who sign up to it will do so on the condition that they stop listing on one of the other two property portals. Between them Rightmove and Zoopla get 100m hits a month. How will this site impact the current market?
What is in store when we follow suit, as promised by Carney
Interest rates on the Swiss mortgage market continue to drop. The year 2014 started out with a surprise: in the first quarter of the year, the interest rates for fixed-rate mortgages sank again â after an interim high in the previous year. - 10-year fixed-rate mortgages started at 2.7 percent in January 2014 and reached a new, historic low of 1.8 percent by the end of the year. - 5-year fixed-rate mortgages exhibited a similar curve. Their interest rates were at 1.8 percent at the beginning of the year and likewise dropped to an all-time low of 1.3 percent at the end of December. They currently are at the same level as 1-year fixed-rate mortgages.
Mark Carney opens window for rate cut + QE
Quote: The Governor vowed to bring inflation back to its 2pc target after it dropped to 0.5pc in December, and may soon go negative by some estimates. "We have a very low inflation environment right now, largely caused by commodity prices," he said. Mr Carney said the Bank will "look through" the latest dip but do WHATEVER IT TAKES to meet its mandate over the next two years. "WE HAVE THE MEANS, AND THE WILL, and the responsibility (Moral high horse) to do it, and WE WILL DO IT. People can rely on that," he said. And for all those of you banking on rate rise and house price crash, it ain't gonna happen for a good few years yet. 1992 & 2008 only happen every 17yrs or so.
The great rotation becomes exponential
The Swiss set it off. Now EU QE has set the tone for the next move. It is however clear that â¬1tn will not solve Europe's dissipative forces, demonstrating that further easing is on the way, and Euro weakness has a way to go. Some say it needs â¬3tn, but is that figure not exponential without Eurozone wide debt pooling that Germany will never agree to? And so this spike in the US Dollar index, soaring Sterling, Krona, Swissie & stocks have a way to go, with Eurozone bond holders continuing to position themselves for Eurozone collapse by investing in the bonds of stronger EU economies. London property, from Euroland, looks a great investment for wealthy Europeans who require an EU base & relatively low taxes, with values rising a few percent a day now for them as the Euro plummets.
The Great Unwinding
"Weâve seen price falls in the housing market in the past in the early â90s and they went down 50%, and I think that weâre at the start of that kind of decline now â as I think, indeed, fairly soon we will be at the start of that in the stock market as well. As I say, Iâm not depressed about this, because itâs just something that we have to go through to get to reality." Bold prediction, but we deported reality from these shores a long time ago, and I'm not sure she will ever be allowed back in.
Journalist forgets to take his medication
"Sometimes, the best ideas are the oldest, or at least turbo-charged versions of Eighties policies. The Tories should pledge to launch a great council house giveaway â not a mere sale â if they are elected. Anyone who lives in social housing, including those owned by local associations, and who has been in work for the past year should be gifted their council home ... Admittedly, in some ways the policy would be grotesquely unfair. Most people have had to work terribly hard for their homes; yet millions would suddenly be given one for free. It would not directly help the growing number of poor, private renters on housing benefit â but then Help to Buy was equally âunfairâ, yet was a huge success. The advantages of a housing giveaway far outweigh the downsides."
Landlord taking the mick
Daily Mail: Lender accused of rip-off over buy-to-let deals: Building society accused of raising rates on a 'whim' to boost its coffers
A building society illegally ramped up interest rates for thousands of its buy-to-let customers on a âwhimâ to boost its coffers, a court heard yesterday. West Bromwich Building Society is accused of ripping off landlords with tracker mortgages by increasing their rates by two percentage points without warning. Tracker mortgages are supposed to follow the Bank of Englandâs 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.