Kingman Posted September 19, 2018 Share Posted September 19, 2018 1 hour ago, Dr_Pangloss said: Slashing interests rates would serve to increase prices, all things being equal, and there's statistical evidence out there to suggest that is the case. Low interest rates make mortgages cheaper and increase demand (hence increasing prices), they also reduce the value of saving through conventional measures and incentivise home buying as an investment over things like savings accounts. Guess i should of put the winky thing on. Going to 0.25 aint doing nothing. Check this out at 20.00pm... Cassandras of the Crash. Adita Chakrabortty's ten year retrospective. Radio 4, 8:00pm this evening. Steve Keen features prominently. https://www.bbc.co.uk/programmes/b0bk1lmy Also SK on Bloomberg this morning deconstructing the Fed and forecasting an impending US recession. https://www.bloomberg.com/news/videos/2018-09-19/steve-keen-says-u-s-heading-for-2020-recession-video Link to comment Share on other sites More sharing options...
Kingman Posted September 19, 2018 Share Posted September 19, 2018 Ten years ago, in autumn 2008, the world watched as the biggest financial meltdown in history unfolded. The crash plunged the world into recession, lost millions of families their homes and its shadow still hangs over our politics today. And when the Queen went to the London School of Economics, she asked the question everyone wanted the answer to: why did no one see it coming? In this programme Aditya Chakrabortty, senior economics commentator at the Guardian newspaper, chairs a discussion between four economists who can claim they did: Raghuram Rajan, former governor of the Reserve Bank of India; Steve Keen, professor of economics at Kingston University in London; Ann Pettifor, director of PRIME, Policy Research in Macroeconomics and council member of the Progressive Economy Forum; and Peter Schiff, American stockbroker and investor. They warned financial crisis was imminent, they wrote books and papers, they even told the powerful to their faces - and they got nowhere. They showed intellectual bravery of a kind that isn't often celebrated, and it cost some of them dearly. Call them four "Cassandras" - cursed, as Greek myth has it, to utter prophesies that were true but never believed. Had they been heeded we may have averted what the then chief US central banker, Ben Bernanke, calls "the worst financial crisis in global history, including the Great Depression". How did they see it when no one else did? Why didn't others listen? And what happens next? Producer: Eve Streeter A Greenpoint Production for Radio 4. Radio 4, 8:00pm this evening. Steve Keen features prominently. https://www.bbc.co.uk/programmes/b0bk1lmy 1 Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted September 19, 2018 Share Posted September 19, 2018 Just now, Kingman said: Guess i should of put the winky thing on. Going to 0.25 aint doing nothing. Check this out at 20.00pm... Cassandras of the Crash. Adita Chakrabortty's ten year retrospective. Radio 4, 8:00pm this evening. Steve Keen features prominently. https://www.bbc.co.uk/programmes/b0bk1lmy Also SK on Bloomberg this morning deconstructing the Fed and forecasting an impending US recession. https://www.bloomberg.com/news/videos/2018-09-19/steve-keen-says-u-s-heading-for-2020-recession-video Low interest rates do not cause house prices to fall, it's as simple as that. A crash may well happen, and keeping rates permanently low does encourage a proliferation of cheap credit, private sector debt and exhausts the central banks monetary policy tools in the event of a crash (they cannot really take rates lower which is a good tool to have in a crash) but low rates do not make house prices fall, if anything they have the opposite effect. Your argument is a bit all over the place I'm afraid! Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted September 19, 2018 Share Posted September 19, 2018 2 minutes ago, Kingman said: Ten years ago, in autumn 2008, the world watched as the biggest financial meltdown in history unfolded. The crash plunged the world into recession, lost millions of families their homes and its shadow still hangs over our politics today. And when the Queen went to the London School of Economics, she asked the question everyone wanted the answer to: why did no one see it coming? In this programme Aditya Chakrabortty, senior economics commentator at the Guardian newspaper, chairs a discussion between four economists who can claim they did: Raghuram Rajan, former governor of the Reserve Bank of India; Steve Keen, professor of economics at Kingston University in London; Ann Pettifor, director of PRIME, Policy Research in Macroeconomics and council member of the Progressive Economy Forum; and Peter Schiff, American stockbroker and investor. They warned financial crisis was imminent, they wrote books and papers, they even told the powerful to their faces - and they got nowhere. They showed intellectual bravery of a kind that isn't often celebrated, and it cost some of them dearly. Call them four "Cassandras" - cursed, as Greek myth has it, to utter prophesies that were true but never believed. Had they been heeded we may have averted what the then chief US central banker, Ben Bernanke, calls "the worst financial crisis in global history, including the Great Depression". How did they see it when no one else did? Why didn't others listen? And what happens next? Producer: Eve Streeter A Greenpoint Production for Radio 4. Radio 4, 8:00pm this evening. Steve Keen features prominently. https://www.bbc.co.uk/programmes/b0bk1lmy Worth a listen, perhaps more for Rajan than Keen. Peter Schiff is a total shyster so may not bother if he's involved, for proof of that just look at how poorly his various funds have performed. Link to comment Share on other sites More sharing options...
Kingman Posted September 19, 2018 Share Posted September 19, 2018 1 hour ago, Dr_Pangloss said: Low interest rates do not cause house prices to fall, it's as simple as that. A crash may well happen, and keeping rates permanently low does encourage a proliferation of cheap credit, private sector debt and exhausts the central banks monetary policy tools in the event of a crash (they cannot really take rates lower which is a good tool to have in a crash) but low rates do not make house prices fall, if anything they have the opposite effect. Your argument is a bit all over the place I'm afraid! Mate your missing my irony, See guessed i missed the winky thing and goin to 0.25 wont do anything Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted September 19, 2018 Share Posted September 19, 2018 1 minute ago, Kingman said: Mate your missing my irony, See guessed i missed the winky thing and goin to 0.25 wont do anything No doesn't make sense tbh. Link to comment Share on other sites More sharing options...
Kingman Posted September 19, 2018 Share Posted September 19, 2018 1 hour ago, Dr_Pangloss said: No doesn't make sense tbh. I was making reference to the interest rates in the headline, in 2008 interest rates were around 6% at the time of the crash then they dropped them to around 0.5% in the blink of an eye to help. Todays interest rate is 0.75% so dropping it back to 0.25% aint gonna achieve jack shit. I was taking the pi55 out the headline and the banks, Hence i forgot the winky things. Link to comment Share on other sites More sharing options...
Kingman Posted September 21, 2018 Share Posted September 21, 2018 Sky News How the UK is facing five housing crises at once Currently the main story on their website: https://news.sky.com/story/line-18-uks-housing-crisis-wont-be-solved-by-building-more-homes-11503447 The UK is facing not one but five concurrent mini housing crises - each with dramatically different consequences and solutions, research from Sky News finds. Finally, and arguably far more importantly than the supply crisis the government fixates on, there is a problem of cost and credit. In many parts of the UK the level of house prices is determined as much by how easily and cheaply people can borrow than by actual housing need. Intriguingly, this credit crisis is far more widespread across the UK than the other crises we identified in our research - though it is particularly focused in London and the South East, and in towns where second homes are popular. TO ADD: There's another write up of this. Sky massively plugging this issue: https://news.sky.com/story/line-18-the-full-story-on-nations-housing-crisis-11503796 Link to comment Share on other sites More sharing options...
Stevo985 Posted October 1, 2018 VT Supporter Share Posted October 1, 2018 Question... Said earlier I was thinking of selling my house (that I currently let out), banking the money and then buying another house next year. Would I have to pay tax on the money I receive from selling the house. So for example, let's say there's £100k left on the mortgage and I sell for £200k. Do I have to pay tax on the £100k I receive? Or is it tax on what I've made from the house (so assume I bought it for £150k, would I have to pay tax on the £50k profit?) If the answer is yes, does it still apply if I am using the money as a deposit on a new house? Link to comment Share on other sites More sharing options...
snowychap Posted October 1, 2018 Share Posted October 1, 2018 (edited) 48 minutes ago, Stevo985 said: Question... Said earlier I was thinking of selling my house (that I currently let out), banking the money and then buying another house next year. Would I have to pay tax on the money I receive from selling the house. So for example, let's say there's £100k left on the mortgage and I sell for £200k. Do I have to pay tax on the £100k I receive? Or is it tax on what I've made from the house (so assume I bought it for £150k, would I have to pay tax on the £50k profit?) If the answer is yes, does it still apply if I am using the money as a deposit on a new house? Edit, changed post content to: This page from Which? seems to sum it up: Quote Capital gains tax is payable on the sale of second homes and buy-to -let property. Find out how much CGT you'll pay. If you sell a property in the UK, you may need to pay capital gains tax (CGT) on your profits. You generally won't need to pay the tax when selling your main home. However, you will usually face a CGT bill when selling second homes or buy-to-let properties. You may also need to pay CGT if your home is partly used as a business premises, or you lease out part of your property. Looking further down that page, though, it talks about if it (the house you're looking to sell) used to be your main residence. If so then it appears to say that you get relief for the time you were resident plus the last 18 months that you owned the property and you also get relief for the time you rented it out which is the smallest of three amounts (£40k, the gain you made from the letting proportion of the home or the private residence relief amount). p.s. None of this constitutes any sort of advice, whatsoever. Please refer to a professionally recognised and indemnified adviser before taking any action. Edited October 1, 2018 by snowychap 1 Link to comment Share on other sites More sharing options...
Xela Posted December 9, 2018 Share Posted December 9, 2018 My parents finally move to rural Shropshire on Friday. Pleased for them as they've always wanted to move to the country and they've found the perfect house for their needs 3 Link to comment Share on other sites More sharing options...
Stevo985 Posted December 9, 2018 VT Supporter Share Posted December 9, 2018 Getting my house valued tomorrow. Already told the tenants I'm exploring putting it on the market. If I get a decent valuation I'm selling. Link to comment Share on other sites More sharing options...
Mark Albrighton Posted December 9, 2018 VT Supporter Share Posted December 9, 2018 1 hour ago, Xela said: My parents finally move to rural Shropshire on Friday. Pleased for them as they've always wanted to move to the country and they've found the perfect house for their needs Great news mate. What time will they want me over for Sunday dinner? 1 Link to comment Share on other sites More sharing options...
Xela Posted December 14, 2018 Share Posted December 14, 2018 (edited) My folks are in their new house! Dad texted earlier - they're already in the village pub having a few beers! Edited December 14, 2018 by Xela 3 Link to comment Share on other sites More sharing options...
sharkyvilla Posted December 14, 2018 Share Posted December 14, 2018 I'm completing on Tuesday ready to move in on Thursday. **** me it's been a pain in the arse. I'm never moving again, if I do ever get married and have kids we're going to have to squeeze into a one bedroom flat because arsed if I'm ever going through this nonsense again. 1 Link to comment Share on other sites More sharing options...
mottaloo Posted December 14, 2018 Share Posted December 14, 2018 22 minutes ago, Xela said: My folks are in their new house! Dad texted earlier - they're already in the village pub having a few beers! Desi pub, i hope 1 Link to comment Share on other sites More sharing options...
Xela Posted December 15, 2018 Share Posted December 15, 2018 21 hours ago, mottaloo said: Desi pub, i hope I don't think they've reached as far as Shropshire yet! Link to comment Share on other sites More sharing options...
mottaloo Posted December 16, 2018 Share Posted December 16, 2018 14 hours ago, Xela said: I don't think they've reached as far as Shropshire yet! Hmm....I feel an exciting business plan may be on the Shropshire horizon.... Link to comment Share on other sites More sharing options...
Xela Posted December 23, 2018 Share Posted December 23, 2018 Finally got to see my folks new place yesterday. Its lovely, Village is quiet and nothing but views of sheep from the back garden. A number of the neighbours ave already been round to introduce themselves. A property community feel. Its made me want to live somewhere more rural! 1 Link to comment Share on other sites More sharing options...
TheAuthority Posted December 23, 2018 VT Supporter Share Posted December 23, 2018 28 minutes ago, Xela said: Finally got to see my folks new place yesterday. Its lovely, Village is quiet and nothing but views of sheep from the back garden. A number of the neighbours ave already been round to introduce themselves. A property community feel. Its made me want to live somewhere more rural! Which village Xela? Link to comment Share on other sites More sharing options...
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