Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 2:28 pm  

Seems like a big turnout at the polling stations but, I can't decide which party will benefit.
Have the younger generation finally got off their backsides and voted or, is it a pensioners revolt ?

Our polling station was the busiest that I've seen it in over 30 years !

Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 4:33 pm  

King Street Cat wrote:

Tory policy in a nutshell.

If you've got cash on the hip, you can make a lot more out of the people who haven't.

Its Capitalism - you take a risk in the hope of that risk being rewarded - if its not you lose up to the value of your commitment

Better to risk and lose than to have never risked at all.

Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 4:34 pm  

wrencat1873 wrote:

Seems like a big turnout at the polling stations but, I can't decide which party will benefit.
Have the younger generation finally got off their backsides and voted or, is it a pensioners revolt ?

Our polling station was the busiest that I've seen it in over 30 years !

Ours is deathly - perhaps Hilary hasn't managed to get the young out of bed?

Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 5:12 pm  

Sal Paradise wrote:

A well considered thoughtful post.

Landlords invest in property and as such they need a return that justifies that investment. Rents have escalated as demand has grown - simple supply/demand proposition and this will continue whilst ever getting on the property ladder is so tricky.

Builders invest in new builds - limited mortgage availability - so they sell large chunks to investors who have access to funds.

True: but the problem comes when the returns that can be made from owning property (not just renting, but holding for capital accumulation) exceed the returns on productive investment (starting businesses, providing capital for existing businesses to expand etc) then it becomes a drag on the economy.

Especially when the high returns from owning property come from the scarcity factor, and the property-owning section of society has a vested interest in continuing that scarcity and not enabling market forces to work better.

The situation is getting progressively worse for each successive generation of young people that enters the labour market (and starts to vote). It won't go away, and unless the government starts to do something about it they will just be breeding a bigger and bigger block of voters who are susceptible to 'radical politics'. Then when an electoral backlash hits them, there will be lots of handwringing and people saying 'how did we miss this?' like the 'liberal establishment' missed the Brexit vote coming. The answer will be, in every time they ignored the situation for young people and just said if they weren't eating avocado toast they'd have a mortgage.

Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 6:27 pm  

sally cinnamon wrote:

True: but the problem comes when the returns that can be made from owning property (not just renting, but holding for capital accumulation) exceed the returns on productive investment (starting businesses, providing capital for existing businesses to expand etc) then it becomes a drag on the economy.

Especially when the high returns from owning property come from the scarcity factor, and the property-owning section of society has a vested interest in continuing that scarcity and not enabling market forces to work better.

The situation is getting progressively worse for each successive generation of young people that enters the labour market (and starts to vote). It won't go away, and unless the government starts to do something about it they will just be breeding a bigger and bigger block of voters who are susceptible to 'radical politics'. Then when an electoral backlash hits them, there will be lots of handwringing and people saying 'how did we miss this?' like the 'liberal establishment' missed the Brexit vote coming. The answer will be, in every time they ignored the situation for young people and just said if they weren't eating avocado toast they'd have a mortgage.

Completely agree - low interest rates enables profits to be made from limited capital outlays. That is why greater access needs to made to enable young people to either buy properties or rent at more affordable levels i.e. council houses. If this happens rents will fall as options increase. An increase in interest rates will also take the heat out of the market too.

Re: Boris Johnson - spinless leader ? : Thu Dec 12, 2019 6:55 pm  

Sal Paradise wrote:

Completely agree - low interest rates enables profits to be made from limited capital outlays. That is why greater access needs to made to enable young people to either buy properties or rent at more affordable levels i.e. council houses. If this happens rents will fall as options increase. An increase in interest rates will also take the heat out of the market too.

There is also the issue of land banks - companies buying up land and sitting on it, until they either decide to develop themselves or, sell it on for a fast buck - something that Labour has promised to deal with.
I realise that it isn't always a black and white issue but, in many cases, this practice can severely slow down development of new property, either residential or commercial.

Re: Boris Johnson - spinless leader ? : Fri Dec 13, 2019 9:47 am  

wrencat1873 wrote:

There is also the issue of land banks - companies buying up land and sitting on it, until they either decide to develop themselves or, sell it on for a fast buck - something that Labour has promised to deal with.
I realise that it isn't always a black and white issue but, in many cases, this practice can severely slow down development of new property, either residential or commercial.

I agree but as commercial organisations why would they invest in sites where they cannot develop them and make a return?

It will be a long time before Labour get to deal with this issue?

Re: Boris Johnson - spinless leader ? : Fri Dec 13, 2019 1:22 pm  

Sal Paradise wrote:

I agree but as commercial organisations why would they invest in sites where they cannot develop them and make a return?

It will be a long time before Labour get to deal with this issue?

The investment to make a "return" isn't in question.
However, the validity of buying up land, to hoard it, rather than put it to use, isn't great for anyone - apart from the land owner.

Re: Boris Johnson - spinless leader ? : Fri Dec 13, 2019 2:37 pm  

wrencat1873 wrote:

The investment to make a "return" isn't in question.
However, the validity of buying up land, to hoard it, rather than put it to use, isn't great for anyone - apart from the land owner.

Property is a long term investment so hoarding land fits perfectly with a long term investment strategy.

Re: Boris Johnson - spinless leader ? : Fri Dec 13, 2019 2:41 pm  

Sal Paradise wrote:

Its Capitalism - you take a risk in the hope of that risk being rewarded - if its not you lose up to the value of your commitment

Better to risk and lose than to have never risked at all.

Apart from if you are a bank. In which case, you are too big to fail.