Notable that there's scant discussion of the effects of buy-to-let landlords, property speculation, and price gouging. Taxing the rich was floated and then swiftly dismissed. Ostensibly because of the "Tory government" but it's notable how mechanistic this discussion has been. As if this crisis was an almost natural evolution in the economy instead of a result of policies that consistently favour landlords, the rich, and businesses. Nearing the end and a "wage price spiral" has been covertly alluded to. Where is the discussion of corporate price gouging? It's alluded to but not fully addressed. How about labour power? The panel are very knowledgeable but this economic orthodox viewpoint is what got us here in the first place. Solutions aren't going to come from this narrow technocratic view that only really focuses on the bank of England and economic indicators in the abstract. Edit: there it is. Openly blaming wages for inflation when inflation was caused by supply side shocks. Despite the many many humble references to their fortunate economic position, the panel still can't help but follow their class interests and buy into the lie that wages are fueling inflation. Wages have been stagnant since 2008 in real terms. But NOW they're causing inflation. Sure sure.
Right. This isnt a lack of money. This is letting people exploit other people because you advertise this naive ideological position that a free market will self regulate properly ... when really you are just using that excuse to thinly disguise your own exploitation of it. The Tories are a blight on this country and unfortunately so are Labour. We need a real alternative. Modern, technocratic, meritocratic, intelligent, realistic and moderate.
Home owners had ten years of stunning uninterrupted growth. Between 2010 and 2020 av. Uk house prx went from c.£160,000 to c.£230,000 [source: This is Money, 2021]. Anyone who thought artificially low interest rates could continue was living in cloud cuckoo land. But on the bright side - property is regarded as the best hedge against inflation. So don't worry; be happy. The losers have been the renters - some kind of right-to-buy for private tenants must come - otherwise we will become a feudal society.
Absolutely - if you have been renting whilst trying to save you have been hit by sky high rents plus virtually no growth on any savings - funny how this doesn't make the news as much as mortgage rates just starting to return to normal levels which borrowers shou;d have priced into their household budgets ..
I suppose side by side with the presumption that rates will be super low, there was also the belief that getting a mortgage is a zero risk venture. Its gotten so weird that if someone has taken a mortgage but is wealthy enough to get two, they are being naive not to do it...any kind of serious thinking on stress tests or if possible maybe perhaps things can just in future simply went out of the window.
I don't like the victim mindset. Britain is quite affordable, just not in the south east, where most of the jobs are. Interest rates will come down again late in 2024 and mortgages will get cheaper, but inflation will be back (a tax everyone pays).
Totally true. Young people moaning because they supposedly can't get on the housing ladder. Stop buying iPhones/watches, tattoos and drugs. Work hard, save hard and be prepared to start at the bottom.
What a load of nonsense. Until Blairs Mass Immigration madness. I bought a very nice semi for £45k 3x my income It had been on the market for 6months with no interest. 1996. Britain worked with 57million people but its now 68million. This Rowtree girl cant mention the real reason or her quaker handlers will not be happy.
Notable that there's scant discussion of the effects of buy-to-let landlords, property speculation, and price gouging. Taxing the rich was floated and then swiftly dismissed. Ostensibly because of the "Tory government" but it's notable how mechanistic this discussion has been. As if this crisis was an almost natural evolution in the economy instead of a result of policies that consistently favour landlords, the rich, and businesses.
Nearing the end and a "wage price spiral" has been covertly alluded to. Where is the discussion of corporate price gouging? It's alluded to but not fully addressed. How about labour power? The panel are very knowledgeable but this economic orthodox viewpoint is what got us here in the first place. Solutions aren't going to come from this narrow technocratic view that only really focuses on the bank of England and economic indicators in the abstract.
Edit: there it is. Openly blaming wages for inflation when inflation was caused by supply side shocks. Despite the many many humble references to their fortunate economic position, the panel still can't help but follow their class interests and buy into the lie that wages are fueling inflation. Wages have been stagnant since 2008 in real terms. But NOW they're causing inflation. Sure sure.
Right. This isnt a lack of money. This is letting people exploit other people because you advertise this naive ideological position that a free market will self regulate properly ... when really you are just using that excuse to thinly disguise your own exploitation of it.
The Tories are a blight on this country and unfortunately so are Labour. We need a real alternative. Modern, technocratic, meritocratic, intelligent, realistic and moderate.
👏👏👏
Home owners had ten years of stunning uninterrupted growth. Between 2010 and 2020 av. Uk house prx went from c.£160,000 to c.£230,000 [source: This is Money, 2021].
Anyone who thought artificially low interest rates could continue was living in cloud cuckoo land. But on the bright side - property is regarded as the best hedge against inflation. So don't worry; be happy. The losers have been the renters - some kind of right-to-buy for private tenants must come - otherwise we will become a feudal society.
Absolutely - if you have been renting whilst trying to save you have been hit by sky high rents plus virtually no growth on any savings - funny how this doesn't make the news as much as mortgage rates just starting to return to normal levels which borrowers shou;d have priced into their household budgets ..
I suppose side by side with the presumption that rates will be super low, there was also the belief that getting a mortgage is a zero risk venture. Its gotten so weird that if someone has taken a mortgage but is wealthy enough to get two, they are being naive not to do it...any kind of serious thinking on stress tests or if possible maybe perhaps things can just in future simply went out of the window.
Informative podcast.Thank you
If it wasn't for the Michael Groove cheerleading.
Can't really bring myself to feel any sympathy for landlords who over-extended themselves.
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank ❤
Go and buy yourselves a £5 coffee….
Why do they do this? In United States we get a fixed mortgage for 15 or 30 years. They are setting people up for failure.
I don't like the victim mindset. Britain is quite affordable, just not in the south east, where most of the jobs are. Interest rates will come down again late in 2024 and mortgages will get cheaper, but inflation will be back (a tax everyone pays).
Totally true. Young people moaning because they supposedly can't get on the housing ladder. Stop buying iPhones/watches, tattoos and drugs. Work hard, save hard and be prepared to start at the bottom.
What a load of nonsense. Until Blairs Mass Immigration madness. I bought a very nice semi for £45k 3x my income It had been on the market for 6months with no interest. 1996. Britain worked with 57million people but its now 68million. This Rowtree girl cant mention the real reason or her quaker handlers will not be happy.
When she said “I’m a lucky one”, I thought she had paid the flat outright. 🤦♀️ But she’s completely screwed.
I bet these mugs all support millions of immigrants rocking up.
Immigrants weren't responsible for council housing being sold off and then not rebuilt....
Taxing Old people 😂….. What a ridiculous idea that is…..