(Buckle up) Recession for more than a year

[Vic]

A lot can change between now and then in terms of interest rates, but also keep in mind you will have a better loan to value in your property after paying off 5 years worth of mortgage

You don't pay off much capital in the first years of a mortgage.

 

[The Future’s Blue!]

Labour mayor.

Local government who have direct links with external international investment.

 

[Mr Kobayashi]

Are you talking about the people themselves not adding anything! They’ve already added to society and have retired, or maybe they should just go to Switzerland and take a pill ffs.

Landlords as a concept. They may have done lots of good before retiring, they may have not.

Not all jobs have social value. They may have worked as a fireman or a postie, but they may also have worked as a door-to-door pressure salesman.

How do you know that they haven't bought their property empire after receiving a large inheritance?

Good plan mate, would go along way to solving the problems caused by an aging population. ;)

 

[inbetween]

You are talking about risk. Uncertainty is things not envisioned. A Pandemic caused recession is such an exogenous event.

There is always uncertainty.

To be honest people getting burned from financialisation of housing is a welcome thing in the long run. It's time for that demand to invest to go to something that benefits the economy and society more.

I don't have any sympathy for people who play an active role in making the housing crisis worse by inflating land values and get their fingers burned.

This is a silly comment.

How many people have a pension and what do you think your pension is invested in? There's a very strong chance that it will likely be invested to realise gains in property because property is always seen as relatively safe long term.

What else do people think is financing the huge amount of building going on in Manchester for a start? It's virtually certain that mine and your's pension is invested in property, or at least in the stocks and shares of housebuilders.

So the question is how many people will happily accept a housing crash to help poorer people get on the ladder at the expense of a fall in their own pension? Yes I thought so.......

 

[Blue Maverick]

Landlords as a concept. They may have done lots of good before retiring, they may have not.

Not all jobs have social value. They may have worked as a fireman or a postie, but they may also have worked as a door-to-door pressure salesman.

How do you know that they haven't bought their property empire after receiving a large inheritance?

Good plan mate, would go along way to solving the problems caused by an aging population. ;)

Ha ha at least the flight would be cheap it’s only one way, in fact I’ve tried to convince my dad to do it, I said I’d go with him and on the upside I can buy some toblerone on the cheap

 

[Damocles]

Labour mayor.

What powers does the Mayor of Manchester have to cause that?

 

[west didsblue]

What powers does the Mayor of Manchester have to cause that?

Sets transport priorities and controls budget, and responsible for spatial framework for area. A good one will encourage inward investment.

 

[Damocles]

Sets transport priorities and controls budget, and responsible for spatial framework for area. A good one will encourage inward investment.

Why are the other Labour mayors not increasing the GDP to a similar degree?

 

[west didsblue]

Why are the other Labour mayors not increasing the GDP to a similar degree?

I suspect it's a complicated answer. From what I can gather most metro mayor areas are generally doing better than areas without them, and areas like Manchester presumably have a higher profile for a number of reasons therefore attracting more investment plus there is a major international airport here unlike everywhere else outside London. Having a high profile figurehead like Burnham presumably helps as well.

 

[Mr Kobayashi]

This is a silly comment.

How many people have a pension and what do you think your pension is invested in? There's a very strong chance that it will likely be invested to realise gains in property because property is always seen as relatively safe long term.

What else do people think is financing the huge amount of building going on in Manchester for a start? It's virtually certain that mine and your's pension is invested in property, or at least in the stocks and shares of housebuilders.

So the question is how many people will happily accept a housing crash to help poorer people get on the ladder at the expense of a fall in their own pension? Yes I thought so.......

This is a strawman.

There is a big difference between institutionalised investors making long term investments and amateur residential landlords.

I said landlords not property developers.