Property crash, just maybe it really is different this time

[moneyscam]

1 hour ago, Lightscribe said:

I don’t think the general masses see inflation coming at all, you give them far too much credit.

What we’re seeing is a one way bet of ever increasing debt, backed by ever increasing prices and being encouraged beyond all financial grounding (i.e what people actually earn).

They think the government will never let it fail and so all financial risk is taken off the table. Ultimately they’ve continued to be proven correct. 

Only until the Great Reset when they can't service the debt anymore. Then they will be given the 'choice' of signing over their title and deeds in return for the debt being wiped out and becoming fully owned slaves of the state, all for the 'greater good'. If you dissent against the orthodoxy (e.g don't toe the line on LGBTQ, climate change etc) down goes your social credit score and you lose your 'right' to live in that house which will be given to someone more compliant.

The proposal for the govt to dole out 95% of the property value in the form of a loan is pointing to this possible outcome when the BK hits.

I often wonder about what they will do to those of us who already own outright and have no other debts.

[Green Devil]

https://www.bbc.co.uk/news/uk-56218952

Budget 2021: Mortgage guarantee to help buyers with 5% deposit

Published

42 minutes ago

Share

IMAGE COPYRIGHTPA MEDIA

A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.

The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.

Chancellor Rishi Sunak says he will use the Budget to level with people about the pandemic's impact on the economy.

Government borrowing has reached £271bn for the financial year.

That is £222bn more than a year ago and has pushed the national debt to £2.13 trillion.

Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."

He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."

Labour has criticised the government for a "stop, start" approach to support measures during the pandemic.

The chancellor is also expected to announce an £126m scheme for traineeships in England.

 

 

 

[Hancock]

12 minutes ago, Green Devil said:

https://www.bbc.co.uk/news/uk-56218952

Budget 2021: Mortgage guarantee to help buyers with 5% deposit

Published

42 minutes ago

Share

IMAGE COPYRIGHTPA MEDIA

A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.

The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.

Chancellor Rishi Sunak says he will use the Budget to level with people about the pandemic's impact on the economy.

Government borrowing has reached £271bn for the financial year.

That is £222bn more than a year ago and has pushed the national debt to £2.13 trillion.

Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."

He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."

Labour has criticised the government for a "stop, start" approach to support measures during the pandemic.

The chancellor is also expected to announce an £126m scheme for traineeships in England.

 

 

 

Sunak will do whatever it takes to stop house prices falling. Id like to see his head on a fucken stick.

[Don Coglione]

4 hours ago, wherebee said:

The property market here in Australia (apart from some inner city stuff which has fallen) has gone mental.  Every single property in my area is going for at least 15% over asking.  

I think people are i) fleeing the city and ii) desperate to get rid of cash, as they can see the inflation beast coming (as can I - going to spunk almost all our cash savings on improving the family home to make it as energy efficient as possible and add a room).

https://www.bbc.co.uk/news/business-56167965

[Hancock]

Do these communist scum who are all based in that 3rd world cesspit actually believe they are "free market capitalist".

Govt backstopping the mortgage markets is free market in the 21st century.

https://www.telegraph.co.uk/personal-banking/mortgages/boris-johnson-promises-95pc-mortgages-first-time-buyers-buyers/#comment

How i wish we could have a 21st century holocaust for Sunak, Boris and their breed.

I

[satch]

Satch’s Exclusive Special Budget Report – An Estate Agent Rights

Property prices last year rose by a stunted 8.5 percent instead of the usual 10 or 15 percent. This is understandable due to the massive pan-global plague coronavirus pandemic and the millions of infections caused by the Covid virus.

But Nik Nak has come along from obscurity to save Britain and soon his policies will be adopted by every country throughout the globe. We, in this great country, lead the way in running an economy in times of trouble as we do in developing vaccines to save humanity from extinction. Our brave chancellor has identified the two major economic problems in this crisis that are holding us all back and will address both of them with a dramatic and forceful budget.

If you ask most people what problems exist with the economy going forward they would list; unemployment, people on furlough, business rates, lack of money velocity, more jobs losses on the horizon for millions. This is what most people think and as usual, most people are wrong. Nik Nak is wise and has consulted with estate agents who are proper financial experts and identified the two real issues that are holding back the recovery. Firstly banks and lenders are demanding 10 or even 20 percent deposits to buy a house and secondly they are also reluctant to lend hundreds of thousands of pounds to people who may lose their jobs and livelihood.  Nik Nak has slashed the percentage needed for a house deposit to just five percent and has guaranteed mortgages up to £600,000 with government cash so the banks can lend freely without any fear of losing money. Once the property market is back up and running the rest of the economy will follow.

In 2021 property prices have never been higher and will rise even more under the leadership of this great chancellor who will be, I am sure the next Prime Minister. Expect property prices to rise by at least 15 percent in 2021 and another 20 percent in 2022 due to these two fantastic initiatives from Nik Nak. So buy now, buy one or even two. Don’t miss out. Buy Now. Prices are set to soar.

 

[Lightscribe]

6 hours ago, moneyscam said:

Only until the Great Reset when they can't service the debt anymore. Then they will be given the 'choice' of signing over their title and deeds in return for the debt being wiped out and becoming fully owned slaves of the state, all for the 'greater good'. If you dissent against the orthodoxy (e.g don't toe the line on LGBTQ, climate change etc) down goes your social credit score and you lose your 'right' to live in that house which will be given to someone more compliant.

The proposal for the govt to dole out 95% of the property value in the form of a loan is pointing to this possible outcome when the BK hits.

I often wonder about what they will do to those of us who already own outright and have no other debts.

I fully agree and it aligns with my thoughts on the things that are coming. However you wonder what they’ll do to those who own outright? Easy, tax.

You’ll pay increased taxes through ‘wealth tax’, ‘property levy tax (bigger the house the more you pay)’, income tax, pension tax, savings tax/reduced ISA thresholds, increased daily living costs, energy and food price inflation. It just won’t be worth owning privately anymore and will be a struggle to keep up with costs for the average person. 

Just like owing a big older diesel 4x4 in London, they’ll tax it to oblivion until ownership is discouraged. 

[Bus Stop Boxer]

5 hours ago, Green Devil said:

https://www.bbc.co.uk/news/uk-56218952

Budget 2021: Mortgage guarantee to help buyers with 5% deposit

Published

42 minutes ago

Share

IMAGE COPYRIGHTPA MEDIA

A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week's Budget.

The government will offer incentives to lenders, bringing back 95% mortgages which have "virtually disappeared" during the pandemic, the Treasury says.

Chancellor Rishi Sunak says he will use the Budget to level with people about the pandemic's impact on the economy.

Government borrowing has reached £271bn for the financial year.

That is £222bn more than a year ago and has pushed the national debt to £2.13 trillion.

Explaining the government's economic response to the pandemic, Mr Sunak told the Financial Times: "We went big, we went early, but there is more to come and there will be more to come in the Budget. But there is a challenge [in the public finances] and I want to level with people about the challenge."

He added: "I will do whatever it takes to protect the British people through this crisis and I remain committed to that."

Labour has criticised the government for a "stop, start" approach to support measures during the pandemic.

The chancellor is also expected to announce an £126m scheme for traineeships in England.

 

 

 

Sunak needs a Fedora and a Cadillac.

 

[maynardgravy]

So anyone with 30k can 'buy' a house for 600k in theory. ... 600 fooking grand. And the banksters will fall over themselves to fudge the figures to lend the maximum as they are off the hook again. 

Evil tossers. 

[Green Devil]

13 minutes ago, maynardgravy said:

So anyone with 30k can 'buy' a house for 600k in theory. ... 600 fooking grand. And the banksters will fall over themselves to fudge the figures to lend the maximum as they are off the hook again. 

Evil tossers. 

The Aim to lock the plebs into a lifetime of slavery and taxes. And looks like they are doing a fantastic job!

Thank god for those of us lucky to buy into the anti gov currency, Bitcoin.

 

[Hancock]

There is still the glimmer of hope that he goes after BTL properly this time, and kills it off for good.

Ending MIRAS for all BTLers irrespective of what tax brand they are in, is my hope.

Unlikely but its not over until the big eared cunt sings.

[Wight Flight]

13 hours ago, Hancock said:

There is still the glimmer of hope that he goes after BTL properly this time, and kills it off for good.

Ending MIRAS for all BTLers irrespective of what tax brand they are in, is my hope.

Unlikely but its not over until the big eared cunt sings.

Yes. But.

If he gets rid of BTL landlords, where will those that need to rent live?

 

[Democorruptcy]

14 hours ago, Hancock said:

There is still the glimmer of hope that he goes after BTL properly this time, and kills it off for good.

Ending MIRAS for all BTLers irrespective of what tax brand they are in, is my hope.

Unlikely but its not over until the big eared cunt sings.

He doesn't seem anti-BTL. Last April he gifted landlords a £1bn by increasing the LHA. 

Quote

 

Nearly £1bn of additional support for renters landlords, through increases in the generosity of housing benefit and Universal Credit. From April, Local Housing Allowance rates will pay for at least 30% of market rents in each area.

https://www.gov.uk/government/news/chancellor-announces-workers-support-package

 

 

[Hancock]

50 minutes ago, Wight Flight said:

Yes. But.

If he gets rid of BTL landlords, where will those that need to rent live?

 

In the rubble of the houses that landlords knock down in a rage, due to them having the same tax breaks as owner occupiers?

[Wight Flight]

Just now, Hancock said:

In the rubble of the houses that landlords knock down in a rage, due to them having the same tax breaks as owner occupiers?

I know that is our usual answer, but what is the real answer?

I am seeing real difficulties because so many landlords are selling. But prices aren't dropping.

I need to earn £40k to be 'allowed' to rent my place. I would need to earn £100k to be 'allowed' to buy it.

Are you seriously suggesting if all BTL sell up, my home will fall in value by 60% to the point where I could buy it?

[Hancock]

43 minutes ago, Wight Flight said:

I know that is our usual answer, but what is the real answer?

I am seeing real difficulties because so many landlords are selling. But prices aren't dropping.

I need to earn £40k to be 'allowed' to rent my place. I would need to earn £100k to be 'allowed' to buy it.

Are you seriously suggesting if all BTL sell up, my home will fall in value by 60% to the point where I could buy it?

No one is suggesting "all" BTL will sell. You make a presumption that "all" landlords are BTL.

Before the days of BTL i presume someone would have owned your house and lived in it, if your landlord sells either another landlord of sorts will buy it or an owner occupier will.

Or maybe just maybe the current BTL if that is what he is, will not make as much on the monthly rent if he has the same tax breaks as an owner occupier.

The house will not turn to rubble.

[Hancock]

Or landlords will leave their houses empty and not bothering with this income.

[Hancock]

1 hour ago, Wight Flight said:

I need to earn £40k to be 'allowed' to rent my place. I would need to earn £100k to be 'allowed' to buy it.

Would your house cost £1million

[Wight Flight]

1 hour ago, Hancock said:

Would your house cost £1million

No. It is about £450k

My rent is £1,100.

I would need an income of £100k to get a 90% mortgage.

[spygirl]

20 hours ago, maynardgravy said:

So anyone with 30k can 'buy' a house for 600k in theory. ... 600 fooking grand. And the banksters will fall over themselves to fudge the figures to lend the maximum as they are off the hook again. 

Evil tossers. 

If they earn 150k.

Mmr still stands.

 

[spygirl]

18 hours ago, Hancock said:

There is still the glimmer of hope that he goes after BTL properly this time, and kills it off for good.

Ending MIRAS for all BTLers irrespective of what tax brand they are in, is my hope.

Unlikely but its not over until the big eared cunt sings.

We've go thru this before.

There is no midas for BTLers.

There was the ability to offset rent against rental I come.

That's fully gone since last year.

Io btl have been gone fir and well and truly got.

What n ukgov needs to go after are holiday let's n 2nd homes.

 

[maynardgravy]

5 minutes ago, spygirl said:

If they earn 150k.

Mmr still stands.

 

I'll be back when this is scrapped too. It's looking more like a crack-up boom.

[spygirl]

12 minutes ago, maynardgravy said:

I'll be back when this is scrapped too. It's looking more like a crack-up boom.

I'd guess these are skinny bones, thrown to cover up dropping of SD holiday and HTB fuckwittery.

Well see.

Unless they scrap Mmr then other changes are nothing more than fiddling around the edges.

[Fully Detached]

On 27/02/2021 at 11:59, Hancock said:

Sunak will do whatever it takes to stop house prices falling. Id like to see his head on a fucken stick.

Having had a day to think it over, I think this is the aim rather than to promote an increase in prices, although it could undershoot or overshoot significantly. If these lockdowns ever do end, there's going to be an absolute fuck load of divorces, and an absolute fuck load of broken households who now need two houses rather than one. Massive increase in sales combined with economic uncertainty and job insecurity equals price discovery and does not bode well for house prices, so I reckon that's the driver for this.

Add in a SDLT holiday extension, and you've got pretty much anybody being able to raise a 5% deposit for a tax payer backed mortgage. But since I mentioned overshooting...

On 27/02/2021 at 17:25, maynardgravy said:

So anyone with 30k can 'buy' a house for 600k in theory. ... 600 fooking grand. And the banksters will fall over themselves to fudge the figures to lend the maximum as they are off the hook again. 

Evil tossers. 

And since you don't have to be a first time buyer, a couple with 30k can buy 2 x300k houses. Scary...

[Hancock]

6 hours ago, spygirl said:

We've go thru this before.

There is no midas for BTLers.

There was the ability to offset rent against rental I come.

That's fully gone since last year.

Io btl have been gone fir and well and truly got.

What n ukgov needs to go after are holiday let's n 2nd homes.

 

It only applies to higher rate taxpayers.