Recession

[beorhthelm]

well, theres property developers regenerate houses/streets and there are those that take a 3 bed with 70's decor house and convert it to 3 bed with walk in shower, open plan lounge/dinner and a beige decor house. the latter have certainly deserve no sympathy if they now fall on hard times, they were just jumping on a bandwagon.


Talking about the development and building new stock side, I'll point out an often overlooked factor on the shortage. old age and people not down sizing. between me and my partner, our close family one-two generations above us have 6 family homes (ie 3-4 bed) with two or only one occupants in them while we are in a one bed flat. we hardly unusuall. now, you cant ask them to leave, but any real solution need to deal with this thorny issue and somehow encourage those in retirment to move out for the next generation.

 

[User removed 4]

well, theres property developers regenerate houses/streets and there are those that take a 3 bed with 70's decor house and convert it to 3 bed with walk in shower, open plan lounge/dinner and a beige decor house. the latter have certainly deserve no sympathy if they now fall on hard times, they were just jumping on a bandwagon.


Talking about the development and building new stock side, I'll point out an often overlooked factor on the shortage. old age and people not down sizing. between me and my partner, our close family one-two generations above us have 6 family homes (ie 3-4 bed) with two or only one occupants in them while we are in a one bed flat. we hardly unusuall. now, you cant ask them to leave, but any real solution need to deal with this thorny issue and somehow encourage those in retirment to move out for the next generation.

as a matter of interest , what do you do for a living ?

 

[beorhthelm]

fail to see the relevance, but IT. Whats your vocation?

 

[London Calling]

what is your background mate ? im interwested because from the tone of your posts you seem to have a deep loathing of anything british.from your dislike of " self made" ex pats id take a guess that your fairly intelligent but youve probably failed at most things youve attempted in life ? you probably work in a fairly low level clerical job and are bitter about your lack of status or meaning in life ?

You're right

 

[Westdene Seagull]

and there are those that take a 3 bed with 70's decor house and convert it to 3 bed with walk in shower, open plan lounge/dinner and a beige decor house.

And there are two things to blame for that :

1. Sarah Beeney - much as I'd like to share a moment with her, she has managed to make even the biggest plums look like successful property developers.

2. The buying public - a lot of people are too lazy / fussy. The number of times I've seen people not buy a place because they didn't like the colour of the bathroom or the kitchen cooker was an inch too far to the left. Get a life - most things in a property can be changed to suit you tastes !!!! It's amazing how little imagination some people have - they just want something they can move into straight away with no work at all. Hence property "re-decorators" ala Sarah Beeney move in and make a killing.

 

[lost in london]

well, theres property developers regenerate houses/streets and there are those that take a 3 bed with 70's decor house and convert it to 3 bed with walk in shower, open plan lounge/dinner and a beige decor house. the latter have certainly deserve no sympathy if they now fall on hard times, they were just jumping on a bandwagon....

What bandwagon? The bandwagon to make some money? What utter bastards, who'd have thought it, there are some people out there who want to make money!

These are people who saw an opportunity to make a bit of money, took the risk and went for it: good luck to them, not sure I've got the balls to do it. Every property developer, indeed every businessman takes risks.

 

[beorhthelm]

These are people who saw an opportunity to make a bit of money, took the risk and went for it: good luck to them, not sure I've got the balls to do it. Every property developer, indeed every businessman takes risks.

agree, but i dont want to hear those that where glorified project managers, who couldnt put up a shelf 5 yerars ago, cry about it now if it goes sour.

 

[User removed 4]

fail to see the relevance, but IT. Whats your vocation?

i wondered if your occupation was in anyway entrepeneurial thats all, i just wondered about your dislike of people who do up houses to make money , i agree they shouldnt cry about it if they are now losing money as its a risk you take when you take on a project.

 

[Uncle Spielberg]

What bandwagon? The bandwagon to make some money? What utter bastards, who'd have thought it, there are some people out there who want to make money!

These are people who saw an opportunity to make a bit of money, took the risk and went for it: good luck to them, not sure I've got the balls to do it. Every property developer, indeed every businessman takes risks.

Please realise 75% of NSC are REDS who want a communist state of mediocrity.

 

[CHAPPERS]

Please realise 75% of NSC are REDS who want a communist state of mediocrity.

I think a good amount of people can be annoyed at those who own multiple properties as it's a lot to do with being in the right place at the right time as to whether people can afford a house/mortage. You can say it's wrong to moan and people should just do something about it but in the current climate, as you know, it's ridiculously hard to get a mortgage for even one house yet some people have been able to get mortgages relatively easily in the past, hence the bitterness.

 

[looney]

Brown has had ample oppertunity to properly regulate the financial sector, rather than bring in the FSA which is just a stalking korse for EU policy. Hence the over exposure to bad debt.


this, as is usual, is a clear case of Government failure and not market failure.


Btw

I told you so.

 

[looney]

Please realise 75% of NSC are REDS who want a communist state of mediocrity.

Half of that have become bitter cringing nihilists after having the intellectual shit kicked out of em for 25 years.



I would tax second homes, its a begger my neighbour parasite capitalism that adds nothing to the wealth of a nation social or economic, it is the wealthier feeding of the poor.

Exemptions can be made for those that increase the housing stock by new builds or renovating wrecks.

This labour Government has screwed the poor harder than any tory government, the 10% tax debacle was just when the fin broke the surface of the water, so to speak.

 

[Uncle C]

now, you cant ask them to leave, but any real solution need to deal with this thorny issue and somehow encourage those in retirement to move out for the next generation.

I think they call it euthanasia

 

[7:18]

I blame Stagflation

 

[Westdene Seagull]

I think a good amount of people can be annoyed at those who own multiple properties as it's a lot to do with being in the right place at the right time as to whether people can afford a house/mortage. You can say it's wrong to moan and people should just do something about it but in the current climate, as you know, it's ridiculously hard to get a mortgage for even one house yet some people have been able to get mortgages relatively easily in the past, hence the bitterness.

To be fair though, buy to let mortgages are far easier to get than your home ones. All you need is 15%. I got my first 15% from re-mortgaging my home - my risk I know but it paid off. I think you'll find, judging by the recent earnings poll on here, a fair few NSC posters could do the same ( pre-credit crunch! ) it's just not everyone is prepared to take the risk.

 

[Gwylan]

I would tax second homes, its a begger my neighbour parasite capitalism that adds nothing to the wealth of a nation social or economic, it is the wealthier feeding of the poor.

Exemptions can be made for those that increase the housing stock by new builds or renovating wrecks.

This labour Government has screwed the poor harder than any tory government, the 10% tax debacle was just when the fin broke the surface of the water, so to speak.

Blimey, I agree with something looney posted.

I think the growth of holiday homes has done more to wreck the housing market than any other single factor. It should look to tax developers who leave property empty too.

But I agree with financial incentives for developers who actually increase housing stock.
And, yes, labour has shamefully let down the poor.

 

[Buttinhams]

It seems it's not all bad news at Barratts;

What slump? Barratt starts work on 2,000-home scheme
8 July, 2008

By Paul Broadbent

Developer begins construction on PKS Architects project in Canada Water, London despite pressures of housing downturn

Despite the worst housing slump in living memory Barratt is pressing ahead with a 2,000-unit housing scheme at Canada Water in London.

Barratt East London started the development known as Maple Quays last week. It is working with Southwark, British Land Canada Quays and the local community to provide a new library, a civic plaza, shops, a play area and green space.

Barratt East London managing director Alastair Baird said: “Maple Quays will transform Rotherhithe and grow into a major asset to the local community and the wider London economy.”

Barratt are continuing to work with PKS Architects on a neighbouring site to add another 186 apartments and 700 new homes to the complex, subject to planning approval.

The first homes in Maple Quays are expected to be completed by September 2008

 

[Lady Whistledown]

In the 1970s inflation averaged nearly 13% across the decade. peaking at 27%. Interest rates peaked at 12%

There are, also three other important differences from the situation in the 1970s.

First, the inflation of that decade was very broadbased, whereas the current pick-up in inflation is driven by rising energy and food prices. Now the prices of many other goods - such as clothing, footwear, hi-fi and computer equipment - are falling.

In the 1970s, all prices were rising sharply, Inflation was deeply ingrained in business life and public expectations.

Second, the 1970s was the era of the wage-price spiral. Wage increases chased inflation upwards as workers demanded higher pay increases to compensate for a higher cost of living.

So far, the fluctuations we have seen in price inflation have not affected pay increases noticeably. Pay settlements have been steady at around 3% to 4% since the early part of this decade, even though measures of inflation have fluctuated much more than this.

Third, we now have a well-established mechanism for controlling inflation, which we did not have in the 1970s. There is a clear target for inflation, and a well-established and transparent process in which interest rates are set by the Monetary Policy Committee (MPC) to keep inflation on track.

We learned in the 1970s the damage that can be done by allowing inflation to become deeply embedded in our economic life.

By contrast, the last decade has shown the beneficial impact of low inflation on economic growth and employment over the long term.

Maintaining price stability, by returning inflation to its target of 2%, will remain the key objective of the MPC.

Oh! I don't know anything about inflation I'm afraid. But I do LOVE little kittens. They're so soft and furry!

 

[User removed 4]

Oh! I don't know anything about inflation I'm afraid. But I do LOVE little kittens. They're so soft and furry!

 

[beorhthelm]

It seems it's not all bad news at Barratts;

What slump? Barratt starts work on 2,000-home scheme
...
The first homes in Maple Quays are expected to be completed by September 2008

if thats the project i think it is, it theres big public funding and its been waiting to go for many years. I'm curious as to the accuracy though, 'cause 2 months build time is rather fast.