UK House prices: News & Views

[drbubb]

the propping up of property delays the true recovery

 

how are they going to increase their value I wonder.

 

There is an over supply of office, retail, and warehouse space and some of it needs demolishing

True.

And the "Bear Market rally" engineered by the reckless labour leadership,

will just add some new homes to the oversupply, extending the future glut

 

I agree, IRS, those housing benefit payments are truly absurd:

The year-on-year rise, of almost 15 per cent, is the steepest for more than 15 years. In 2010/11 the bill is expected to rise still further, to £20.8 billion.

...

Earlier this year The Sunday Telegraph revealed that housing benefits were paying for an unnamed family to live in a seven-bedroom home at a cost to taxpayers of £147,000 a year, while 550 families were receiving more than £30,000 annually in housing handouts.

 

Why does no one complain about the amount of money wasted?

 

It is crazy that those who cannot afford to buy homes are being taxed to pay the inflated expenses of reckless piggies. If I were a Brit being taxed in Britain, I would be wildly angry about it. (!!)

 

Why not limit the benefit to what it would cost to rent a below average home

[id5]

...

I agree, IRS, those housing benefit payments are truly absurd:

The year-on-year rise, of almost 15 per cent, is the steepest for more than 15 years. In 2010/11 the bill is expected to rise still further, to £20.8 billion.

...

Why not limit the benefit to what it would cost to rent a below average home

Notice that the stories are also about immigrants receiving the benefit rather than those who were born here.

 

There are a few things at work here such as the slow increase in public perception that there has now been too much immigration and the system is weighed too heavily in the immigrants favour. Before it was only the red top newspapers that would bring up the race of the people involved, now it is the broadsheets. As the Telegraph has stated the race of those involved then immigration is now a subject that those in the UK will soon be politically allowed to discuss in public again whereas it was not politically correct to do so under Labour.

 

This makes me think as there is an election coming and immigration controls will be one of the items heavily discussed. To me this shows that my post about the rise of the power of minority parties in the UK is having an effect as it helps to make sure that main stream political parties begin to add the minorities concerns into their own agendas or lose votes.

 

As I said in that post,

 

First society has to change, then the elected, then the body of laws, guidelines, rules and regulations. Consider the gap from Maggie being elected to No: 10 and Brown’s hopeful ejection next year, 30 years!

Like the financial crash, it takes time and in our high speed society we think it will all be over in a few weeks, there might be quick shocks such as the collapse of Lehman’s but it is going to take years to get to the bottom or for the political pendulum to swing.

 

 

[chazza]

Notice that the stories are also about immigrants receiving the benefit rather than those who were born here.

 

There are a few things at work here such as the slow increase in public perception that there has now been too much immigration and the system is weighed too heavily in the immigrants favour. Before it was only the red top newspapers that would bring up the race of the people involved, now it is the broadsheets. As the Telegraph has stated the race of those involved then immigration is now a subject that those in the UK will soon be politically allowed to discuss in public again whereas it was not politically correct to do so under Labour.

 

....

 

First society has to change, then the elected, then the body of laws, guidelines, rules and regulations. Consider the gap from Maggie being elected to No: 10 and Brown’s hopeful ejection next year, 30 years!

Like the financial crash, it takes time and in our high speed society we think it will all be over in a few weeks, there might be quick shocks such as the collapse of Lehman’s but it is going to take years to get to the bottom or for the political pendulum to swing.

 

I do find these stories amazing but try and take them with a pinch of salt when nationalities are also quoted. I think I try to forget them as really, who in there right mind would authorise those sort of rents when you could move them 1 mile out and pay rent a third lower.

 

[id5]

I do find these stories amazing but try and take them with a pinch of salt when nationalities are also quoted. I think I try to forget them as really, who in there right mind would authorise those sort of rents when you could move them 1 mile out and pay rent a third lower.

I would not forget them as someone in their wrong mind has obviously authorised them, I would follow the money.

 

Since some of them are not really mansions but are large houses the amount of rent becomes extortionate and paid for by the tax payer. I suspect that the owner of the property is in league with someone in the council to provide rental properties at a high rental value for a backhander. The owner gets the mortgage on the property paid for and cash, the official in the council gets a backhanded and no one dare complain or the racist remarks start to flow.

 

[G0ldfinger]

Anyone else thinking that we put in a bottom here?

 

http://www.bloomberg.com/apps/news?pid=206...RLKFo&pos=5

Mortgage-Bond Spreads Narrow to Lowest in More Than 17 Years

...

Jan. 6 (Bloomberg) -- Yields on Fannie Mae and Freddie Mac mortgage securities fell to the lowest relative to government notes in more than 17 years, as the Federal Reserve’s program to purchase $1.25 trillion of home-loan bonds bolsters the market.

[jerpy]

Why does no one complain about the amount of money wasted?

 

It is crazy that those who cannot afford to buy homes are being taxed to pay the inflated expenses of reckless piggies. If I were a Brit being taxed in Britain, I would be wildly angry about it. (!!)

 

It's not just an housing prop i'm angry about and it's been said on other threads, but the whole friggin benefit system needs looking at!

 

Today I watched Mr Invalid running up and down a hill in our village with his 4 kids, he could have practically entered the winter olympics with his performances. Must be all the free drugs he gets that enhanced his performance. Who knows he might even come off benefits and go back to work, then again.

[id5]

It's not just an housing prop i'm angry about and it's been said on other threads, but the whole friggin benefit system needs looking at!

 

Today I watched Mr Invalid running up and down a hill in our village with his 4 kids, he could have practically entered the winter olympics with his performances. Must be all the free drugs he gets that enhanced his performance. Who knows he might even come off benefits and go back to work, then again.

Mr Invalid maybe one of the latest ‘stressers’ or just one of the others that have won the ‘mini-lottery’ ticket to invalidity benefits because that is how the working class see them. Luck put them in a situation where they can claim invalidity such as a minor injury at work or a car crash. A back injury is the best because that one can be dragged on for ever. We had a woman near where we used to live who had whiplash from a minor shunt. You could always tell when she was off to the doctors because the neck brace and crutch came out.

 

Stress is fast becoming the in vogue form of invalidity benefit in very large companies. If you have been in the company for a couple of years, are not in the flush of youth and trying to climb the greasy pole, and are lucky enough to get promoted to a team leader or above then you are in with a chance. The next stage is to go to stress counselling, paid for by your large employer, and as time goes by you do enough work to keep the pretence of being a worthy team lead but slowly increase the amount of days off that you have sick from stress until you get to working only a few days a week. The company cannot get rid of you easily as you have followed all of their policies and your job is even more stress as you can no longer get it done in the time that you are at work. You can continue this on full pay for doing half the job for nearly ever or if your lifestyle allows you to live on less money you can then drop the job and live off invalidity.

 

[chazza]

It's not just an housing prop i'm angry about and it's been said on other threads, but the whole friggin benefit system needs looking at!

 

Today I watched Mr Invalid running up and down a hill in our village with his 4 kids, he could have practically entered the winter olympics with his performances. Must be all the free drugs he gets that enhanced his performance. Who knows he might even come off benefits and go back to work, then again.

 

Can't you grass them up for a couple of hundred quid now?

 

EDIT: I actually thought before that not many poeple would go down that route, but given the problems we are in financially I can see many more porple going down this route. Maybe leading to more social disturbances

[jerpy]

The company cannot get rid of you easily as you have followed all of their policies and your job is even more stress as you can no longer get it done in the time that you are at work.

Try getting rid of an employee who's primary function requires him to drive, yet the doctor's say he can't and add a little touch of stress because of the situation.

 

Takes over a year speaking from experience!

[jerpy]

Can't you grass them up for a couple of hundred quid now?

 

EDIT: I actually thought before that not many poeple would go down that route, but given the problems we are in financially I can see many more porple going down this route. Maybe leading to more social disturbances

 

Agree unfortunately it's growing and causing resentment amongst those that work and those that don't. Being rural, part of a community, playing local sport I mix with all sorts. Whilst I don''t necessarily blame the individuals, it sticks in the throat the system enables it - you cannot simply grass them up and they have claims endorsed by health professionals and fully legalised.

 

Housing claims is just one part, incapacity benefits another, then you have free heating, transport, care fees - it's all a nice little earner. The people I encounter that brag of their claims, would not be able to if the nanny state wised up.

[G0ldfinger]

Oooops.

 

http://www.reuters.com/article/idUSN0614064020100107

U.S. apartment vacancy rate hits 30-year high

Thu Jan 7, 2010 1:01am EST

...

* Rents fall 0.7 percent in the fourth quarter.

...

NEW YORK, Jan 7 (Reuters) - The U.S. apartment vacancy rate rose to an almost 30-year high of 8 percent in the fourth quarter, and rents dropped in the biggest one-year slump in 2009, according to real estate research company Reis Inc.

...

On average, close to 60 percent of all rental buildings across the New York metropolitan area lowered their rents from the third quarter.

...

"Never before have we observed rental properties in so much distress, both on the space and pricing side," Calanog said.

But, but, but!

 

Related News

 

* U.S. shopping center vacancies hit records: report

Wed, Jan 6 2010...

[G0ldfinger]

Going ... down?

 

http://gold.approximity.com/since1968/UK_H...es_RPI-adj.html

[electroweak]

reminds me of....

[G0ldfinger]

In the UK 99% of the populace still think that this house price crash is only a small dip. They do not expect the next leg down, especially not the BTLers.

 

BTW, what happened to the Wilsons? Have they finally sold?

[romans holiday]

reminds me of....

Reminds me of...

 

 

Crash encounters of the housing kind?

[Paddles]

Going ... down?

 

http://gold.approximity.com/since1968/UK_H...es_RPI-adj.html

 

 

It's uncanny the way it's tracking the classic bubble to burst lifecycle, eh? We're very lucky to be living through this time, I only hope we have an equivalent of Galbraith to document it properly in years to come.

[bandwagon]

It's uncanny the way it's tracking the classic bubble to burst lifecycle, eh? We're very lucky to be living through this time, I only hope we have an equivalent of Galbraith to document it properly in years to come.

Have you read "The Great Crash 1929"? It's one of the classics, perfectly describes recent events.

 

Also includes the 1925 Florida property bubble...

 

http://www.amazon.co.uk/Great-Crash-1929-P...2092&sr=8-1

 

[GenghisKhan]

Have you read "The Great Crash 1929"? It's one of the classics, perfectly describes recent events.

 

Also includes the 1925 Florida property bubble...

 

http://www.amazon.co.uk/Great-Crash-1929-P...2092&sr=8-1

 

It's a good read. Written very simply.

[malvern hills]

It's uncanny the way it's tracking the classic bubble to burst lifecycle, eh? We're very lucky to be living through this time, I only hope we have an equivalent of Galbraith to document it properly in years to come.

 

 

Can someone explain why on the graph at HPC the price is already at the mean while on this classic bubble graph it way further down?

Is it just the way they are drawn or are we going to see prices stabilize at higher levels than we think?

[G0ldfinger]

Can someone explain why on the graph at HPC the price is already at the mean ...

What is the "mean", please? The HPC liny thingy is some sort of exponential regression, they call it "trend". You could come up with almost anything for such a line. It is meaningless because it it is mere stats that ignores the fundamentals behind this move.

[sonixtorm]

Have you read "The Great Crash 1929"? It's one of the classics, perfectly describes recent events.

 

Also includes the 1925 Florida property bubble...

 

http://www.amazon.co.uk/Great-Crash-1929-P...2092&sr=8-1

 

A Short History of Financial Euphoria is a cracking read too, although not as in depth as the above...

[Methinkshe]

Can't you grass them up for a couple of hundred quid now?

 

EDIT: I actually thought before that not many poeple would go down that route, but given the problems we are in financially I can see many more porple going down this route. Maybe leading to more social disturbances

 

 

I find the whole concept of "grassing-up" reprehensible, and when the government offers money to those prepared to inform on their neighbours, I am reminded of the GDR and other totalitarian states.

 

Surely, the better thing to do is to approach the man who is cheating and confront him - is it not?

 

I am always irked by those who park in disabled parking bays without any need. I know they are located nice and close to the shop entrance but it is not that which makes them essential to me when I take my disabled daughter shopping. It is the extra width which allows one to manipulate a non-standing, non-walking person from car seat to wheel-chair that I need - and in a normal-sized parking bay, this is simply not available. Therefore, when I see the underserving parking in disabled bays, I am very vocal in my questioning of them!! What I refuse to do is "grass them up". That way lies an informer society where the only winner is the state and no-one is able to trust his neighbour - divide and conquer - we all become slaves of the state rather than the state serving us.

[azazel]

I find the whole concept of "grassing-up" reprehensible, and when the government offers money to those prepared to inform on their neighbours, I am reminded of the GDR and other totalitarian states.

 

Surely, the better thing to do is to approach the man who is cheating and confront him - is it not?

 

I am always irked by those who park in disabled parking bays without any need. I know they are located nice and close to the shop entrance but it is not that which makes them essential to me when I take my disabled daughter shopping. It is the extra width which allows one to manipulate a non-standing, non-walking person from car seat to wheel-chair that I need - and in a normal-sized parking bay, this is simply not available. Therefore, when I see the underserving parking in disabled bays, I am very vocal in my questioning of them!! What I refuse to do is "grass them up". That way lies an informer society where the only winner is the state and no-one is able to trust his neighbour - divide and conquer - we all become slaves of the state rather than the state serving us.

 

If there was five empty disabled bays, and you only needed one but someone undeserving had parked in a disabled bay as it was conveinient, as it was raining or late at night, would you still be vocal in questioning them or think of the bigger picture?

[Methinkshe]

If there was five empty disabled bays, and you only needed one but someone undeserving had parked in a disabled bay as it was conveinient, as it was raining or late at night, would you still be vocal in questioning them or think of the bigger picture?

 

Of course not! Rules are there to grease society, not to terrorise it! But that takes discernment on the part of every individual and we seem to be lacking that these days. The spirit not the letter of the law is what is most important.

 

Let me put the boot on the other foot....

 

I have a disabled parking badge so could, in practice, use it even if I did not have my disabled daughter with me - and I have seen this occur many times - even though it is against the law.

 

However, I choose from conscience, not threat of penalty, to limit my use of the disabled parking badge only to those occasions when I really need it - that is, when I have my disabled daughter with me.

 

I am all too aware of the difficulties that I have experienced when forced to use a normal parking bay because all disabled bays have been taken to ever want to inflict that on another for purely selfish reasons.

 

 

 

 

.

[ziknik]

Mr Invalid maybe one of the latest ‘stressers’ or just one of the others that have won the ‘mini-lottery’ ticket to invalidity benefits because that is how the working class see them. Luck put them in a situation where they can claim invalidity such as a minor injury at work or a car crash. A back injury is the best because that one can be dragged on for ever. We had a woman near where we used to live who had whiplash from a minor shunt. You could always tell when she was off to the doctors because the neck brace and crutch came out.

...

You should start a 'Bash the working classes' thread.