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Big institutions Buying up housing and renting it back (You will own nothing and be happy)


macca

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Joncrete Cungle
On 09/02/2022 at 10:09, Chewing Grass said:

My god Range Rovers were cheap back then...

Mr Bovey, 48, was involved in a tense exchange with the bailiff on Friday when he arrived home in his £60,000 black Range Rover.

When The Mail on Sunday challenged Mr Bovey about the financial stability of Imagine Homes a year ago, he replied: 'I am sitting in our £5m chateau in Megeve in the Alps. I will sue anyone who says that Imagine Homes is in financial difficulty. We have huge profits that have yet to materialise.'   But documents filed at Companies House reveal Imagine Homes made a loss of £6.4m to spring 2007. It also suffered a loss of £2.8m the previous year.  

 

Couldn't have happened to bigger, smarmy, spivvy cunt than Bovey.

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sleepwello'nights
57 minutes ago, mh9000 said:

I meant the new build block of flats sort of thing you see cropping up in Manchester and elsewhere. Seems lot of them are owned fully by pension funds to rent out. https://www.placenorthwest.co.uk/news/manctopia-ep-4-probes-concept-of-community/

 

Exactly the Utopian living envisaged by the architects who designed the tower block estates. Machines for living espoused by Corbusier 

"The public housing projects influenced by his ideas have been criticized for isolating poor communities in monolithic high-rises and breaking the social ties integral to a community's development. One of his most influential detractors has been Jane Jacobs, who delivered a scathing critique of Le Corbusier's urban design theories in her seminal work The Death and Life of Great American Cities."

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On 08/02/2022 at 21:30, spygirl said:

WOooh there, that's quite a lot if lefty bollocks.

One, whose they?  Brown was top of the list of facilitating 2008 n all that, allowing the world to pour into London n leverage up.

The asset stripping is sooo 1970s. Most companies ruined by PE wernt great and had limited assets to strip.

Likes of debt where bought out, then swapped the equity fir debt, then sold back as equity, resumed of anything worthwhile.

Stock buybacks are just that.

If you object- and I do - lobby to get debt put on same level as equity.

In terms of housing, the fast, dumb PE will go with higher rates.

Theres a solid case for well run corporate rentals a la Barbican as a life hedge. Note the use of hedge rather profit maximising.

I'll tell you what would fuck everything up - state ownership.

1) State ownership would fuck everything up,

Tell the French that as their electricity and gas goes up 4% when our privately owned system goes up 54% whilst the energy companies rake in record profits. Best part is EDF UK means we will subsidise the French people with EDF's higher prices.

Tell the fish that state owned is worse when our rivers, streams and sea are flooded with record amounts of SHIT and plastic, The companies we gave our water to have given out £36 billion in dividends, washed their money through tax havens and cant afford to keep our systems up to date as they are £24 billion in Debt. When they collapse our taxes will rise to pay for it i'm sure,, Prisons were privatised, re offending went up 70% and it was so bad they had to renationalise it at a cost of £500 million.

Biggest cause of bankruptcy in America is medical debt, when their private healthcare treats you they charge, if your really sick you lose your house, car, wife, job,,  46 million Americans cant afford proper health insurance if they are sick. They are fucked.. But you prefer that to the once great NHS destroyed by private companies. No matter how sick you got they protected you.

 

2) Stock buybacks are just that.

Stock buy backs used to be called fraud, its well known now that once a company buys back enough of its own stock it can delist from the exchange and go private.. 

Stock buy backs are not investment in the companies future, its why the Chinese make all our Chips now, as Big USA tech giants bought back their owns stock instead of investing in R&D, Same with every sector, If your spending your money on boosting your share price your not investing in the future of your company just shovelling money to investors until your either private, bankrupt or irrelevant. 

3) In terms of housing, the fast, dumb PE will go with higher rates.

We are past that now, 50% of all wealth is owned by less than 1% of the population,, There is a new game, We will own everything and you will own nothing.

Billionaires doubled their wealth last year, Dumb Tory voters said something stupid like "They deserve the money, they worked for it, your just jealous" 

Whilst they avoided tax, stifled wage rises for workers, fucked our countries to death, destroyed small businesses and increased the workers taxes, Tory voters cheered.

If they doubled their wealth last year, what if they continue to do so? They own 60% of all the worlds wealth? 70% of all the worlds wealth?

Will they sell the slave rent boxes they bought? or will they continue to buy up all the housing? Will they push for more authoritarian control over countries people? Will they bring in laws like the Tories under the guise of hate speech allowing them to shutdown any news or conversation they don't like the sound of?

Will they bring in laws to put people in prison for 10 years for organising protests or 1 year for attending a protest?

You probably cheer that as well, until one day they do something that really effects you and you realise there is nothing you can do about it.

4)lefty bollocks. :Jumping: 

Absolutely hilarious.. I get a badge.. left or right.. what does it even mean? there is only right and wrong

 

And our political and financial construct is rigged, its evil and its wrong. People voted for Hitler, they waved flags and cheered. The intelligence of our current population is about on par with every historical travesty that has ever been.

History repeats itself because the people never really change, selfish, greedy and stupid,, Nothing changes and history repeats.

Only this time we have killed most of the earths animals, bugs, trees, insects,, We dont just face a repeat of the same stupid mistakes we have made 50 times before.. We face killing what little of what made this planet a nice place to live, nature,,

I did not vote Blair, Brown, Cameron, Bodger.. 

If you want to give me a label that suits your narrative maybe hippy would be better.. As I always vote green.

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On 09/02/2022 at 10:04, HousePriceMania said:

What, buying houses at the peak of a housing bubble ?

If they keep flooding the market with their free printed money and inflation keeps ticking up, who says the bubble will ever burst and prices will go down?,, All Ponzi Schemes end when the system runs out of suckers.. 

But if the suckers are the financial institutions constantly receiving free money, that ends up as tax payer debt, why does it ever need to end. If they print so much a loaf of bread is £10'000 .. My house should be worth at least £1 billion. :Jumping:

Truth is I am guessing, All i know is look what they are doing, not what you think they will do, or what you think will happen, if they keep buying housing with all the money they have, where does that lead us as a society and a people?

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On 08/02/2022 at 18:05, Wight Flight said:

I would hope they would build large developments of apartments. They do this in the U.S. and are bloody brilliant.

The sooner we get it here the better.

Why would you want to live in an apartment? I read that during the lockdown it was those without a garden who were most prone to mental health issues,, it was absolutely boiling during lockdown.. Good for Garden parties, So good downing street had 16 of them.

USA has allot more land, the types of shelter they will build here wont have the floorspace the Americans have.

Its all about profit, no profit in giving people space, "rackem and stackem"

Or as Jacob rease mog says, "I find foodbanks uplifting"

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1 minute ago, macca said:

Why would you want to live in an apartment? I read that during the lockdown it was those without a garden who were most prone to mental health issues,, it was absolutely boiling during lockdown.. Good for Garden parties, So good downing street had 16 of them.

USA has allot more land, the types of shelter they will build here wont have the floorspace the Americans have.

Its all about profit, no profit in giving people space, "rackem and stackem"

Or as Jacob rease mog says, "I find foodbanks uplifting"

We have plenty of land. We just don't use it correctly.

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1 minute ago, Wight Flight said:

We have plenty of land. We just don't use it correctly.

how much land you recon it takes to feed you for 1 year? I don't know but I do grow food in my garden and its enough for a few months, My garden is not that small.. and i can only grow fruit and veg. I don't have cows, sheep, pigs and chickens

times that by 67 million people.. 

Look at google earth, you will see we have cut down 97.5% of our ancient woodlands for farming, housing and other uses.

Its a green and pleasant land only if you mean fields. Trees are gone along with most of the animals that once lived among them.

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3 minutes ago, macca said:

how much land you recon it takes to feed you for 1 year? I don't know but I do grow food in my garden and its enough for a few months, My garden is not that small.. and i can only grow fruit and veg. I don't have cows, sheep, pigs and chickens

times that by 67 million people.. 

Look at google earth, you will see we have cut down 97.5% of our ancient woodlands for farming, housing and other uses.

Its a green and pleasant land only if you mean fields. Trees are gone along with most of the animals that once lived among them.

I guess we would agree that population explosion is the issue.

Whenever I look at the stats going back 200 years I am astounded.

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12 hours ago, macca said:

1) State ownership would fuck everything up,

Tell the French that as their electricity and gas goes up 4% when our privately owned system goes up 54% whilst the energy companies rake in record profits. Best part is EDF UK means we will subsidise the French people with EDF's higher prices.

Tell the fish that state owned is worse when our rivers, streams and sea are flooded with record amounts of SHIT and plastic, The companies we gave our water to have given out £36 billion in dividends, washed their money through tax havens and cant afford to keep our systems up to date as they are £24 billion in Debt. When they collapse our taxes will rise to pay for it i'm sure,, Prisons were privatised, re offending went up 70% and it was so bad they had to renationalise it at a cost of £500 million.

Biggest cause of bankruptcy in America is medical debt, when their private healthcare treats you they charge, if your really sick you lose your house, car, wife, job,,  46 million Americans cant afford proper health insurance if they are sick. They are fucked.. But you prefer that to the once great NHS destroyed by private companies. No matter how sick you got they protected you.

 

2) Stock buybacks are just that.. 

3) In terms of housing, the fast, dumb PE will go with higher rates.

We are past that now, 50% of all wealth is owned by less than 1% of the population,, There is a new game, We will own everything and you will own nothing.

Billionaires doubled their wealth last year, Dumb Tory voters said something stupid like "They deserve the money, they worked for it, your just jealous" 

Whilst they avoided tax, stifled wage rises for workers, fucked our countries to death, destroyed small businesses and increased the workers taxes, Tory voters cheered.

If they doubled their wealth last year, what if they continue to do so? They own 60% of all the worlds wealth? 70% of all the worlds wealth?

Will they sell the slave rent boxes they bought? or will they continue to buy up all the housing? Will they push for more authoritarian control over countries people? Will they bring in laws like the Tories under the guise of hate speech allowing them to shutdown any news or conversation they don't like the sound of?

Will they bring in laws to put people in prison for 10 years for organising protests or 1 year for attending a protest?

You probably cheer that as well, until one day they do something that really effects you and you realise there is nothing you can do about it.

4)lefty bollocks. :Jumping: 

Absolutely hilarious.. I get a badge.. left or right.. what does it even mean? there is only right and wrong

 

And our political and financial construct is rigged, its evil and its wrong. People voted for Hitler, they waved flags and cheered. The intelligence of our current population is about on par with every historical travesty that has ever been.

History repeats itself because the people never really change, selfish, greedy and stupid,, Nothing changes and history repeats.

Only this time we have killed most of the earths animals, bugs, trees, insects,, We dont just face a repeat of the same stupid mistakes we have made 50 times before.. We face killing what little of what made this planet a nice place to live, nature,,

I did not vote Blair, Brown, Cameron, Bodger.. 

If you want to give me a label that suits your narrative maybe hippy would be better.. As I always vote green.

1) French energy gas fine up.

German energy has gone up even more.

And neither were cheap before.

 

2) This is all wibble -

Stock buy backs used to be called fraud, its well known now that once a company buys back enough of its own stock it can delist from the exchange and go private.. 

Stock buy backs are not investment in the companies future, its why the Chinese make all our Chips now, as Big USA tech giants bought back their owns stock instead of investing in R&D, Same with every sector, If your spending your money on boosting your share price your not investing in the future of your company just shovelling money to investors until your either private, bankrupt or irrelevant

Theres nothing fraudulent about stock buybacks.

Pisspoor accounting when it's done with debt.

And grossly misaligned CxO if tgey are paid for equity price rising.

The Chinese not make all our chips. They make bugger all, and that requires Western fab tech. Taiwan does a lot of mobile. Rest are made in  Us , Israel, Puerto Rico.

Name the big USA tech giants buying back their stock?

Theres only Intel, who are buying back due yo staff stock options.

Besides, making chips is a relatively low return, high capital activity. You need to be *designing* chips a la Apple.

 

3) Its more wibble.

Theres noway for PE to go, hence buying each others equity.

Listing is basically blocked to PE since Deb.

 

 

 

 

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10 hours ago, spygirl said:

1) French energy gas fine up.

German energy has gone up even more.

And neither were cheap before.

 

2) This is all wibble -

Stock buy backs used to be called fraud, its well known now that once a company buys back enough of its own stock it can delist from the exchange and go private.. 

Stock buy backs are not investment in the companies future, its why the Chinese make all our Chips now, as Big USA tech giants bought back their owns stock instead of investing in R&D, Same with every sector, If your spending your money on boosting your share price your not investing in the future of your company just shovelling money to investors until your either private, bankrupt or irrelevant

Theres nothing fraudulent about stock buybacks.

Pisspoor accounting when it's done with debt.

And grossly misaligned CxO if tgey are paid for equity price rising.

The Chinese not make all our chips. They make bugger all, and that requires Western fab tech. Taiwan does a lot of mobile. Rest are made in  Us , Israel, Puerto Rico.

Name the big USA tech giants buying back their stock?

Theres only Intel, who are buying back due yo staff stock options.

Besides, making chips is a relatively low return, high capital activity. You need to be *designing* chips a la Apple.

 

3) Its more wibble.

Theres noway for PE to go, hence buying each others equity.

Listing is basically blocked to PE since Deb.

 

 

 

 

We owned our own gas and oil until the twat conservatives gave it away,, now private companies are making 100s of billions as UK debt breaches £2.35 trillion and my tax goes up £1000 a year to pay for the conservatives mates profits. Buying back billions of your own stock when people freeze to death every year. The human race is just fucking evil,. GREED.. it will end us. 

Something like $50 trillion is in offshore accounts that's not been taxed. If that money was pushed into assets, as the value of that money decreases? I have believed for a long time house prices will fall, so long i rented waited, and waited,, Now I bought, but there is so much money that could just be thrown at assets its a choice, its not a certainty. As it can be manipulated.

All out debt is just money that exists in an offshore tax haven. There does not need to be poverty,, its a choice,, A few people have decided they are greedy cunts and they will put the majority of the world into poverty for their own personal gain.

I'm sick of working my life away because my fellow man has decided to accept that some people don't need to play by the same rules 

This economic mess is by choice. 

 

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23 hours ago, Wight Flight said:

I guess we would agree that population explosion is the issue.

Whenever I look at the stats going back 200 years I am astounded.

I never hear a single conversation about overpopulation.. Its all propaganda, aging population, we need more people, open the boarders,, build build build, growth,, more people, more growth,, but since most of our jobs are fake.. 80% service economy is just people looking after people. we are not doing anything.. more people you have the more people you need,

Its all a lie.. 

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14 hours ago, spygirl said:

 

How all politicians are controlled by billionaires. Thinking we are somehow the informed, intelligent members of society will protect us. Until we come together and stop the corruption your never going to win, because these greedy parasites want all the money.. Eventually they will get it.

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8 hours ago, macca said:

We owned our own gas and oil until the twat conservatives gave it away,, now private companies are making 100s of billions as UK

This economic mess is by choice. 

 

We 'owned' the distribution company. Thats it.

The gas came from other sources.

BG was large, heavily unionised state enterprise i.e. shit.

 

 

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3 hours ago, spygirl said:

We 'owned' the distribution company. Thats it.

The gas came from other sources.

BG was large, heavily unionised state enterprise i.e. shit.

 

 

Norway is heavily unionises and offers the best standard or working conditions anywhere on planet earth.

Its the type of unions we have in the UK that are the problem, i.e. communist agitators who are predominantly Scousers, Glaswegians and North Easterners.

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41 minutes ago, Hancock said:

Norway is heavily unionises and offers the best standard or working conditions anywhere on planet earth.

Its the type of unions we have in the UK that are the problem, i.e. communist agitators who are predominantly Scousers, Glaswegians and North Easterners.

The offer Scandi levels of productivity.

Most UK unionised state operators have 20%+ no shows.

Scandis Unions tend to have a collective mindset.

UK ones tend to be run by Trots n Marxists.

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15 hours ago, spygirl said:

We 'owned' the distribution company. Thats it.

The gas came from other sources.

BG was large, heavily unionised state enterprise i.e. shit.

 

 

Unionised = well paid

So who owns the land the oil/gas comes from? 

Privatisation is easy, First the Tories underfund it, then they fuck the staff off, 40'000 less nurses in NHS.. then when it no longer functions and the people get mad.. "i've got a mate that will charge you 100x more than it currently cost and give you a 10% better level of service, oh and you have to subsidise it as well, trains, oil gas (we have given the oil giants £2.4 billion in rebates recently as they pay zero tax and rake in £40 billion) its just crime

Nice little video called Richie Sunak is taking the piss

https://fb.watch/bbYl5B3CKy/

 

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On 15/02/2022 at 08:36, spygirl said:

We 'owned' the distribution company. Thats it.

The gas came from other sources.

BG was large, heavily unionised state enterprise i.e. shit.

 

 

It's still terrible to deal with as my staff always told me.

Whenever there was a problem with a utility company nine times out of ten it was British Gas.

I would guess that the working practices from the pre-privatised days still persist.

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On 16/02/2022 at 10:09, Frank Hovis said:

 

It's still terrible to deal with as my staff always told me.

Whenever there was a problem with a utility company nine times out of ten it was British Gas.

I would guess that the working practices from the pre-privatised days still persist.

First they run a service into the ground, and then tell you the only way to save it is private money.

It costs us 10x more, and if it collapses we get all the debt and crumbling infrastructure, investment is not where the profits are, stock buy backs and huge debt piles make for happy share holders.

The idea the private sector greed is better than a well run government service is nonsense. The problem we have is our government don't work for us,,

As Robin Williams said,

"Politicians should wear jackets with logos of the companies that own them" 

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7 hours ago, macca said:

 

That smacks of desperation to me like councils buying half empty shopping centres and John Lewis going into social housing.

It's low interest rates both causing low returns and enabling the taking on of big debt.

Yet interest rates are rising.

Still, when did a bank get their timing wrong 9_9

IME corporate banking staff are time servers like civil servants; they keep their heads down and agree with everything that their seniors suggest.

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This is like old news.

I just don't see banks buying up individual homes and running them like portfolio landlords - seems like a lot of faff with potential for negative publicity.

Big blocks of flats where you pay another company to maintain them, sure. You could even buy a block 

Being cynical maybe there is another reason? Big block of identikit flats near me, new price was c.£450k, asking prices have steadily declined and the lowest asking price is now £375k (still plenty of sellers trying to get out at breakeven or small loss). Would have thought it would be snapped up but not, been on since Jan. Once that goes through it might be very difficult for any of those sellers to get a valuation even close to £450k on it.

In the short-term there are no real catalysts for it to go higher and a few for it to go lower (higher interest rates, more flats nearby which are HTB eligible).

So a valuation loss of c.£100k might be problematic for banks, as what would that say for other flats in the vicinity? Taking a loss across many flats might be painful if you are marking to market.

So buying a whole block or a tranche of flats would allow for values to be maintained. 

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1 hour ago, Boon said:

This is like old news.

I just don't see banks buying up individual homes and running them like portfolio landlords - seems like a lot of faff with potential for negative publicity.

Big blocks of flats where you pay another company to maintain them, sure. You could even buy a block 

Being cynical maybe there is another reason? Big block of identikit flats near me, new price was c.£450k, asking prices have steadily declined and the lowest asking price is now £375k (still plenty of sellers trying to get out at breakeven or small loss). Would have thought it would be snapped up but not, been on since Jan. Once that goes through it might be very difficult for any of those sellers to get a valuation even close to £450k on it.

In the short-term there are no real catalysts for it to go higher and a few for it to go lower (higher interest rates, more flats nearby which are HTB eligible).

So a valuation loss of c.£100k might be problematic for banks, as what would that say for other flats in the vicinity? Taking a loss across many flats might be painful if you are marking to market.

So buying a whole block or a tranche of flats would allow for values to be maintained. 

I know the daughter of quite a well known artist (works go for about £20k)

She obviously has quite a decent collection of his pieces herself. If any come up at auction, and look like selling at under value, she will buy them herself. a few £k lost to maintain the value of her whole collection.

Probably illegal, but quite canny.

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