Brexit slowly becoming a Farce.

[WhiteRoseKillie]

51 minutes ago, Suspect Device said:

 

I realise you're being facetious but in reality they can't raise them too high because of the fact that too many people have over borrowed egged on by the lowe interest rates, the media constantly plugging the idea of growign rich on the back of ever rising house prices and utterly stupid government policies which were intended to help people into affordable housing but actually just pushed prices up even higher.

They will have to rise if inflation isn't the temporary post covid blip that they hope.

UK interest rate rise in 2022 becoming more likely, says Bank chief | Interest rates | The Guardian

 

Too many people have bought houses as an investment and not as a home. That should be it's main purpose. Any increase in value should be irrelevant.

..as should any decrease. This was the point which was spectacularly missed by almost everyone after I pointed out that a crash in the market would not be the worst thig that could happen. Your first property is your home, not an investment. I went through the rollercoasters of the eighties without giving much of a fúck, as my house was what kept the rain off - it wasn't my vehicle for retiring at forty.  Any subsequent properties? The value of investments can go up as well as down, after all. The current situation has young people unable to buy their own home because they're up to their ears paying the mortgage on some fucking parasite's third or fourth - or hundredth or thousandth - house.

The idea that Loyds Bank could be the biggest landlord in the next five years is absolutely obscene - "no, you can't have a mortgage - we'd rather you pay us twice as much in rent and never own so much as a brick. Know your place, peasant."

[Jacksgranda]

4 minutes ago, WhiteRoseKillie said:

..as should any decrease. This was the point which was spectacularly missed by almost everyone after I pointed out that a crash in the market would not be the worst thig that could happen. Your first property is your home, not an investment. I went through the rollercoasters of the eighties without giving much of a fúck, as my house was what kept the rain off - it wasn't my vehicle for retiring at forty.  Any subsequent properties? The value of investments can go up as well as down, after all. The current situation has young people unable to buy their own home because they're up to their ears paying the mortgage on some fucking parasite's third or fourth - or hundredth or thousandth - house.

The idea that Loyds Bank could be the biggest landlord in the next five years is absolutely obscene - "no, you can't have a mortgage - we'd rather you pay us twice as much in rent and never own so much as a brick. Know your place, peasant."

Me too.

I'm baffled how people can afford to buy more than one property.

[Granny Danger]

1 hour ago, Suspect Device said:

 

Too many people have bought houses as an investment and not as a home. That should be it's main purpose. Any increase in value should be irrelevant.

I doubt if you can prove/justify that though equally I might find it difficult to prove otherwise.  Purely anecdotally, therefore, I doubt if anyone I know bought their house primarily as an investment.

[tamthebam]

4 hours ago, speckled tangerine said:

Secret Army.

[coprolite]

On 26/09/2021 at 23:40, bendan said:

People were predicting:

No fruit and veg in the shops

Big rise in unemployment

Collapsing house prices

Grounded flights

A quid more on a bottle of wine

Etc

 

Are you saying it's going to be much worse than that?

 

I'm sure some were. Most of the sober predictions were for a few tenths of a percentage point off GDP growth in the long term. 

[Meldrew]

[Soapy FFC]

10 minutes ago, Meldrew said:

Nothing to see here, move along please...

[Detournement]

4 hours ago, WhiteRoseKillie said:

 

The idea that Loyds Bank could be the biggest landlord in the next five years is absolutely obscene - "no, you can't have a mortgage - we'd rather you pay us twice as much in rent and never own so much as a brick. Know your place, peasant."

Banks offering mortgages should be banned from buying residential properties.

This should be an easy vote winner for Labour but they won't touch it under Starmer or his MP picked successor. 

[Detournement]

36 minutes ago, Meldrew said:

The fish and the fields don't disapear. The small capitalists get knocked out and the big capitalists take over. The UK needs to use every acre of land that can produce food for food so Barbour jacket types with a few sheep, clay pigeon shooting, quad bikes and glamping need to GTF anyway. 

Bill Gates is the biggest farm owner in America now. The same thing will happen here and in the EU as well with oilgarchs and hedge funds taking over agriculture. 

Edited September 28, 2021 by Detournement

[welshbairn]

4 hours ago, Granny Danger said:

I doubt if you can prove/justify that though equally I might find it difficult to prove otherwise.  Purely anecdotally, therefore, I doubt if anyone I know bought their house primarily as an investment.

Loads of people have bought to let.

[Granny Danger]

18 minutes ago, welshbairn said:

Loads of people have bought to let.

Yes they have, but that’s a totally different think from what we’ve been discussing.

[Billy Jean King]

Me too.
I'm baffled how people can afford to buy more than one property.

The truth is a hell of a lot of those that do CAN'T afford it. The fact that rent can outstrip mortgage payments is ludicrous. All you need is a fraction of the value of a property to purchase that property. Rent virtually paying the mortgage and sell it on a few years later for a tidy profit or borrow again against the increased value to basically rinse and repeat. A reasonable rise in interest rates would see the whole deck of cards collapse 2008 style.

[Granny Danger]

1 hour ago, Billy Jean King said:

8 hours ago, Jacksgranda said:

Me too.
I'm baffled how people can afford to buy more than one property.

The truth is a hell of a lot of those that do CAN'T afford it. The fact that rent can outstrip mortgage payments is ludicrous. All you need is a fraction of the value of a property to purchase that property. Rent virtually paying the mortgage and sell it on a few years later for a tidy profit or borrow again against the increased value to basically rinse and repeat. A reasonable rise in interest rates would see the whole deck of cards collapse 2008 style.

Buy-to-let owners are seen by some on here as devils incarnate, I can understand the reasons behind this.  However if a significant rise in mortgage rates saw “the whole deck of cards collapse” do you think the landlords would be the only victims?  I reckon many tenants would be left in a very, very precarious position.

Social housing should be prioritised but the move from private to public provision needs to be managed to minimise the negative impact on tenants.

 

[BFTD]

3 minutes ago, Granny Danger said:

Buy-to-let owners are seen by some on here as devils incarnate, I can understand the reasons behind this.  However if a significant rise in mortgage rates saw “the whole deck of cards collapse” do you think the landlords would be the only victims?  I reckon many tenants would be left in a very, very precarious position.

Social housing should be prioritised but the move from private to public provision needs to be managed to minimise the negative impact on tenants.

Friend of mine had a shitehawk landlord who went bankrupt many years ago. She ended up buying the house at auction for a fraction of the market value.

Just a one-off story, obviously, but if buy-to-let landlords started dropping like flies and the market was suddenly flooded with properties, it could also be a good thing for tenants.

[HeartsOfficialMoaner]

55 minutes ago, BFTD said:

Friend of mine had a shitehawk landlord who went bankrupt many years ago. She ended up buying the house at auction for a fraction of the market value.

Just a one-off story, obviously, but if buy-to-let landlords started dropping like flies and the market was suddenly flooded with properties, it could also be a good thing for tenants.

I work in this area and the vast majority of tenants are foreigners or students, also English coming up fo short term contracts that don't want to buy a property as they are only here for work. They need the private landlords so they have somewhere to live. This is what it is like in Edinburgh. Private landlords are a necessity.

Lot's of Chinese now coming in. I don't know if they are allowed to buy property right away even though they have the money so they need to rent.

[Guest Bob Mahelp]

5 hours ago, Meldrew said:

The Express is truly the khunt's khunt newspaper of choice. It's a poisonous propaganda sheet for far right mental cases. 

 

[bendan]

12 hours ago, Bob Mahelp said:

The Express is truly the khunt's khunt newspaper of choice. It's a poisonous propaganda sheet for far right mental cases. 

 

I'm convinced the Express only exists to provide a go to source for 'crazy Britain' stories in the foreign press. It and the Daily Mail are by far the most-referenced UK papers I see. 

[btb]

Brave New World...

Quote

 

 

Genetically modified food a step closer in England as laws relaxed

Ministers are keen to use Brexit to allow gene editing, a form of genetic modification that is heavily restricted in the EU, to be used in the UK, despite a public consultation that found 87% of people who responded viewed gene-edited crops as a greater risk than traditional crop breeding methods.

Genetically modified food a step closer in England as laws relaxed | GM | The Guardian

[oneteaminglasgow]

13 hours ago, HeartsOfficialMoaner said:

I work in this area and the vast majority of tenants are foreigners or students, also English coming up fo short term contracts that don't want to buy a property as they are only here for work. They need the private landlords so they have somewhere to live. This is what it is like in Edinburgh. Private landlords are a necessity.

Lot's of Chinese now coming in. I don't know if they are allowed to buy property right away even though they have the money so they need to rent.

Honestly, why couldn’t that be dealt with through publicly owned rental properties?

Private landlords are only a necessity because they have created a problem to which they are the solution. 

[Soapy FFC]

12 minutes ago, btb said:

Brave New World...

Genetically modified food a step closer in England as laws relaxed | GM | The Guardian

I see that Scotland, Wales and NI will be able to decide themselves if they want to follow or not. If they decide not to, how will pollen carrying insects be stopped from crossing the border and bring modified pollen with them, thereby contaminating unmodified crops outside of England?