Drink deeply from the well of nothingless Limey scum

[Starving Steve]

Re: Drink deeply from the well of nothingless Limey scum

A very real "Catch 22"; This nation is a very green and pleasant land and is why so many, from other nations, try every way possible to get here to stay. You have to live here to understand why we leave it the way it is.


http://www.youtube.com/watch?v=UQ0oC...eature=related

This version has better sound, but less emotion.

http://www.youtube.com/watch?v=qg7KsemZGIc

Why wouldn't a large middle-class, living on large lots (over 60 front-feet per lot ), in subdivisions of very affordable and new homes, be a United Kingdom "with a very green and pleasant land"? I would think a more affordable and less densely housed UK would be a nation that would be inherently nicer to live in--- and "green and pleasant" not just for the gentry.

In Canada, these are some of the proposals in city and regional planning that I have made, and the planning establishment thinks I am crazy.

[renewable]

Re: Drink deeply from the well of nothingless Limey scum

Buy to let has increased in terms of products available, relaxation of lending requirements, amount of loans and value of loans. I found a good article on it here.

I see, you're talking about numbers increasing from the trough a year or so ago. All these numbers are way, way below the peak of the UK house price bubble.

However if they rise in tandem then there won't be a crash as first time buyers will be able to afford houses even at higher interest rates as they will be able to save faster for larger deposits which will in fact keep their costs down despite higher interest rates.

Disagree in so many ways. House prices are currently so overvalued that it takes many many years to save a deposit. There are no more 125% LTV loans about - to get a half decent rate now a LTV of 75% is required. In the event that your guess ends up being correct and wage rises somehow match inflation, 5% extra a year on wages won't make a lot of difference over just a couple of years.

IRs are at their current centuries low to recapitalise the banks and delay a house price crash. The only reason that there haven't been mass defaults is this gift to heavily indebted mortgagees. An unprecedented proportion, 75% or more of mortgagees are now on variable rates. A few first time buyers won't make any difference - the massive debts of house 'owners' is much more significant.

I think that everything depends on IRs. If they can keep them low for at least 5 years, a bit of wage inflation may make the debt seem slightly smaller and they may get away with it. If they rise significantly, the UK housing market is toast.

[renewable]

Re: Drink deeply from the well of nothingless Limey scum

In the news today re: wages: Real-term wages to fall 3pc for rest of year

http://www.telegraph.co.uk/finance/e...t-of-year.html

According to the Bank of England’s central projection, published on Wednesday, inflation will average just under 5pc for the final six months of the year. By comparison, the Office for Budget Responsibility (OBR) – the Treasury’s official forecaster – expects “average earnings growth” of only 2pc.

Another 15 months of falling real incomes would come on top of a 3.8pc real-terms decline over the 11 months to March, as calculated by the Institute for Fiscal Studies (IFS). That implied a squeeze of £500 for the average family, the IFS said, the tightest since 1981.

Philip Shaw, economist at Investec Securities, said: “It looks like disposable incomes will fall again this year for a second year in a row, and much of next.”

He added that the “one saving grace is that the number of jobs is rising”. Figures form the Office for National Statistics showed that the number of unemployed between January and March fell by 36,000 to 2.46m compared with the previous three months. Youth unemployment also dropped by 30,000 on the previous three months to 935,000, though the number of women claiming Jobseeker’s Allowance has reached its highest in 15 years.