'Mouldy Old Dough' (one for techieman)

BBC: Flat sold despite it being described as 'mouldy'

An Essex flat, has been sold for £22,000 over its asking price, despite it being described as "mouldy" and "full of rubbish". The candid ad showed pictures full of junk and mould and also admitted there could be "fleas to keep you company." Rather than deterring buyers the two bed property was actually sold for £147,500.

Posted by jack c @ 07:17 PM 0 Comments

DEFLATION is the game, Carney is a fraudster

Telegraph: Markets rule out UK interest rate rise until end of decade

Financial markets now believe there is a 50pc chance the Bank of England will cut rates this year. Will I get an apology for those who attacked me on this blog for stating the bleeding obvious that yes, rates cannot stay at 0.5% forever, because the only consistency in this world is change, but that shift can be down as well as up and negative is just as likely as positive at this point of time. Will you act accordingly, facing reality, or make inane statements about the relative morality of these statements? Furthermore, will you accept that Carney has DEFRAUDED millions of home owners into fixed term mortgage rates that now look exorbitantly expensive in possibly one of the largest mis-selling, rackateering scams in history to which nobody gains compensation & all receive tax hikes?

Posted by libertas @ 06:08 PM 2 Comments

JP Morgue predicts MINUS 2.69% rates for UK

Zero Hedge: JPM's Striking Forecast: ECB Could Cut Rates To -4.5%; BOJ To -3.45%; Fed To -1.3%

Hold onto your seats. No wonder Osbourne is attempting to regulate the housing market. At a rate like this, banks will be paying folk to take out a mortgage, but with that amount of deflation, money will gain value just sitting under a mattress, but he will not be able to stem hot money from the continent that from less than 4% rates there. As said, the US Dollar can still rise if Federal rates go negative, so long as it is not as negative as others. #longtermtrend

Posted by libertas @ 03:06 PM 5 Comments

Edmonton in Enfield is London's hottest market

Quickmovenow: 10 best places for a quick house sale

As I have been explaining for a while, Edmonton in Enfield, North London will be one of the hottest markets because of it suddenly coming onto London Overground, with Crossrail 2 about to run through it with no previous reason to buy there, resulting in a massive turnaround. Well, Quck Move Now have looked at the average time to sell a property and Edmonton is the only London ward in the top ten at number seven. The next great opportunity will be the next raft of stations to be taken over by TFL's London Overground, placing them too on the Central London Tube Map. My prediction is that houses in Edmonton will soon match prices in similar south London Overground zones such as Sydenham and Forest Hill where three bed houses exchange for more than £600k.

Posted by libertas @ 02:30 AM 3 Comments

Tuesday, Feb 9, 2016

Tory answer to mansion tax? Collect less tax from the most valuable homes!

Torygraph: Stamp duty changes have led to huge hole in receipts for Osborne

"Stamp duty changes made by the chancellor George Osborne have led to a 12.1pc decline in revenue during the first ten months of last year, according to new research. An over reliance on stamp duty from London and a decline in property transactions there has created a £620m deficit between January and October 2015, compared with the same period the year before, according to estate agency Knight Frank." This was obviously going to happen - transaction taxes tend to decrease transactions. If he'd instead gotten rid of the 0% rate for the imaginary council tax bands I-Z, revenue would have been raised. Local democracies could have even decided to raise extra for flood defences or care homes and not have to deal with the terrible consequences of unilateral Whitehall cuts

Posted by mombers @ 08:20 PM 2 Comments

You never know!

Telegraph: 10 reasons why I'm looking forward to the house price crash

Nonetheless, I can see how it could happen – and because the bubble is now so big, once it started it would quickly become totally unstoppable.

Posted by happy mondays @ 01:37 PM 3 Comments

Turn again Whittington

Daily Mail: Is London's luxury housing market about to crash?

Top hedge funds have placed multi-million-pound bets that the London luxury housing market will tank. Odey Asset Management, BlueMountain Capital Management and Anchorage Capital are reported to have shorted the stock of Berkeley Group, the London-focused housebuilder, according to the Financial Times last night.Fears of global economic meltdown, emerging markets currency falls and the Brexit referendum have led some investors to bet the demand for the top end of the housing market in London will collapse.

Posted by jack c @ 09:07 AM 0 Comments

Saturday, Feb 6, 2016

Is the property market as rigged as LIBOR?

The Independent: There’s a lot of flapping and clucking in the UK ‘luxury apartment’ market as the chickens come home to roost

"I was told this week by an industry insider that “85 per cent sold” really means “£2,000 deposits paid on 85 per cent”. And because they face an economic slowdown at home, Chinese investors in particular are saying: “Keep the £2,000 – and if you don’t like it come after us in the Chinese courts.” They are defaulting, in other words, with no consequences. And the result is that some developers are left holding a huge supply of apartments that few onshore buyers can afford. Prepare, said my nark, for 50 per cent-plus price drops."

Posted by sneaker @ 07:20 PM 3 Comments

Buy to rot!

Zero hedge: These Vancouver Homes Sold For Millions In 2011 And Have Been Vacant And Rotting Since: Here's Why

Over the pond in Vancouver Chinese investors ( sorry money launderers) have bought multi million pound properties and left them to rot. Exactly the same has happened in London, except that high rise apartments don't rot.But the impact of pricing locals out, having zero positive effect on ongoing GDP are exactly the same. Australia has taken action against this, The Chinese governement is supposedly coming down heavy on it and it looks like Canada will follow suit. How long will it be before this becomes an international issue like immigration and the UK takes action as well. I can see the possibility of a number of black swans colliding mid air when government policy on buy to let, non doms, and eventually foreign ownerships collides with economic reality.

Posted by britishblue @ 01:52 PM 3 Comments

'experts' dont know why?

Dailymail: Bank shares are plunging like 2007/2008

Well the real players know something is afoot....could it be the realisation they have been lending into the biggest property/credit bubble since japan 1992?

Posted by taffee @ 10:31 AM 6 Comments

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