"Avalanche of bad economic news" - Bloomberg UK. 5 Fact Friday

[@Noallegiance]

I bet councils are making sure their pay and pensions are OK, though.

[@cheds1]

25% of you council tax is for pensions.

[@pleaseentername.]

Well obviously that’s their commitment

[@Noallegiance]

@pleaseentername. Committed to theft to feather their own nests.

[@bfcfan2739]

The public purse gravy train makes me sick

[@nickrougier8014]

Very succinct and clear analysis of the dire state of this Dystopian country that wins new subscriber and a Like.

[@allykhan8594]

Anyone in business in the u.k can tell you a Sharp turn down is what we're in. The Gov inflicted great harm to every component of this despondent kingdom.

[@ruthlewis403]

There is no one with a secure job. Just the illusion of a secure job.

[@deanregan7011]

The caveat to that is , outside the public sector.

[@jayne1905]

Hi Charlie, I have been following you now for some time. I put my House up for sale in September , offer in 4 days full asking price. An investor is buying my house and up to last week still wants the house, he's currently setting up yet another Ltd company to buy my house. The whole situation is taking forever it's the most stressful thing I have done. Listening to you Landlord's are selling up yet my landlord buyer appears to still want to buy my house. I feel totally swamped

[@christinemurray1444]

How does that work if there are delays? Doesn't the money go to the solicitors in escrow?

[@Mike-lb1hx]

I'm for building social housing as it increases the housing stock but if we could build them in the private sector we would be better off. The reasons I say this are 1) The need for government subsidy would be regularly reviewed and we wouldn't end up with Bob Crow earning 150k getting subsidised rents 2) There are estimated to be 150k illegal sublets from social housing 3) The government struggles to run anything more complex than a bath. Was it Reading where the council recently pulled out as it couldn't make being a Landlord work

[@flatoutuk]

Charlie, i love your videos, even if the new isn't always good! Interesting, informative and realistic.

[@therivalryan]

House prices are based on supply and demand, so are house prices too high..not really!

[@MovingHomewithCharlie]

Not so. They’re based on the availability and cost of finance. Supply and demand is an oversimplification of how the housing market works and is used to fob off people to make them believe they need to overpay.

[@therivalryan]

@MovingHomewithCharlie well availability = supply. The market price is the market price. Which many factors do come in to play, like inflation for e.g. which increases asset prices ie. Houses

[@rebornsmith7542]

These people want too much for this terrible houses.

[@EastoftheDanube]

Serious question: are house prices too high or are salaries too low?

[@matthewryan4844]

Probably both. Theres a bunch of countries where wages have grown faster than here. House prices have gone up at similar rates to other countries but the average uk floor area is low for the price you pay.

[@EastoftheDanube]

@ interesting, thanks. I have a property over 1,000 sq ft, an old Grade II listed house so built well, unlike properties built after 1984. It’s unlikely to sell for more than £235k because of the location, ie nice, relatively affluent, low crime town but 20 miles from a work centre. In the U.K. the highest house prices are in areas where there are the most jobs. I think it’s a bit simplistic to say that house prices are too high. The economy of this country is lopsided. If there were an even spread of decent jobs across the country, house prices might fall in line with local salaries as they do where I live. As it is, people move to areas of high employment. I used to live in Oxford and this is precisely what happened - jobs boom, loads of strangers move in (native born British btw), ruin the vibe, house prices go through the roof forcing out those of us who grew up and have families there. Horrible city now and glad to be gone. This is where I think Charlie has some blind spots. Nottingham, for example, is quite good value. My cousins sold my deceased aunt’s lovely 4 bed mid-terrace house for £350k in 2022, the height of the Covid housing mania. Good solid 1900s house. In Oxford you’d get a box made out of refined cardboard on a busy roundabout for that money. Perhaps with a balcony overlooking the ring road if you are lucky!

[@Bubbles77418]

House prices too high!

[@EastoftheDanube]

@@Bubbles77418 but if the average salary were £70k, as it should be imo, rather than £30k, then you could buy a starter house as a young person/couple with a mortgage x 3 of your salary (£70 x 3 = £210k + a saved deposit of £40k = £250k). Anywhere outside of London you could find a flat or house for this price. People need to start asking for higher salaries. Reducing house prices will just be a race to the bottom, economically speaking. I was earning £15k in 1997 for a full-time publishing job. I’d be hard-pushed to find that same job today paying more than £22k. Taking into account inflation over the last 28 years, that is a massive salary decrease.

[@Bubbles77418]

@EastoftheDanube and how much do you think Mr Asda or Mr Sainsbury's would increase the value of everything on the shelves if they were paying their full time staff £40,000 more a year? If that was the case, the benefit system would also need overhauling to keep up. House prices have increased over 30% in the last five years alone which is simply unsustainable alongside the rise in interest rates and the current economic outlook. The correction can't come soon enough, imo!

[@stephengreen8986]

Oh goody. Just what we wanted to hear.

[@stephengreen8986]

Ps I'm still in Looney bin.

[@stevo728822]

You can buy land and property in virtual worlds online.

[@allykhan8594]

Increase pay does not produce increase productivity! And without that we are in decline.

[@richardlongmuir8348]

Wage increases aren’t necessarily a good thing,we’ve seen that previously just before a property crash and recession

[@mikedennington8856]

Things confirm that the recession is here, wonder how deep it will be this time. Never seems to be any relief from recession's and crisis issues.

[@MK-ee9wq]

Crony capitalism and financial engineering.

[@deanregan7011]

We're yet again at that regular point in our modern history, living costs rise due to many uncontrolled factors, increased wage demand adds to costs. Job losses rise, and at a time when the average mortgage holder or renter has no more than two months of savings before defaulting. Resulting increase in poverty and benefits claims, climbing debt, both private and public. It's a very well worn idealogic dilemma, raise taxes to provide fair public services and scare away growth, or lower taxes to encourage wealth creation and have an underfunded and smaller public sector. We simply have never managed to have both.

[@monkswhiskers3354]

To the commenter selling his btl to buy gold and then buy more btls at a later date. Why not use the money to build something productive? A business that employs people for example, instead of people farming. Let a young family buy those homes rather than hoard them. The rent seekers are part of the reason we’re in this mess. Just a mull.

[@bfcfan2739]

Btl is a huge problem with regard to supply for young people who just want a family home

[@soundtechture3193]

We're building houses to house the replacement workforce who are replacing the 9 million unemployed.

[@happychappy7115]

If jobs market continues to slide, house prices will follow 😮 A correction is long overdue

[@allykhan8594]

and banks bail out?

[@wokelefty]

I still find it mind boggling, not a single member of Kier's cabinet has set up or run a business.

[@SycAamore]

Yeah right, do you want another Rushi?

[@EastoftheDanube]

Like that horrible former chancellor, Phillip Hammond? Plenty of Tories in the cabinet owned and ran businesses and look what they did to the economy. Plenty were also millionaires, especially in the Cameron government. I’m not a Starmer supporter but this mess is not entirely their fault. The Tories ruined this country from 1979 onwards. Do some research.

[@BAmalakas]

I imagine you find quite a lot of stuff mind boggling.

[@allykhan8594]

@@SycAamore yes

[@allykhan8594]

Has any of them run anything? Even a food bank??

[@stevo728822]

Maybe in the future, the country will be governed by a giant AI computer?

[@madann1985]

Bro I’ve been watching your channel for some time. Intelligent points which is why I like the channel, but in the same time you’ve been preaching for about dire property market you could have flipped a property and made a fair amount as well. I’ve done it twice since watching this channel. The channel helped me focus on where I buy more serious as highlighted the risks involved which are easy to under estimate.

[@madmountainman5197]

Given what's ocurring in the US, can we vote Trump for Primeminister? 🤣

[@InnuendoXP]

Chaotic & disorganised? Is Moving Home with Charlie moving home?!

[@Ali01007]

Hello charlie. Are you also a drummer 🥁

[@Coldm6791]

I welcome a much overdue Housing correction. why don’t you talk about Manufacturing PMI And inventory as it’s s probably the most important leading indicator on the economy

[@jamesbrannick528]

What an absolutely miserable decade! 😂

[@pleaseentername.]

Unless you’re in tech, crypto, ai

[@RobertReading-l5k]

Labour put us into the financial crisis in 2008 with Mr Brown, so is Labour going to it again. It looks like Labour wants to damage the uk businesses and even the buy to let market which help the governement out with housing people, but they are just damaging the econmy and they are not going to get any more Taxes out of people if they start loosing jobs. But they are really trying to get foreign investors, but they should try and help our own people to invest and not always foreign ones. We really try to get foreign investor, but that means alot of the money doesn't stay in the uk then. New taxes made up like inheritance tax on farms and business, what else do they want to tax.

[@BAmalakas]

Yes Gordon Brown caused a global financial crisis.

[@MightyDrunken]

The 2008 credit crunch was caused by deregulating banking, primary in the US. Of course both the Republicans and Democrats were all for it and over here the Conservatives and New Labour. The problem is governments think profit is how to improve the economy. When it is actually productivity.

[@andynewham3352]

Robert-reading….. please start “reading” could you reference me one serious book which points to Labour being the source of the global economic crisis in 2008.

[@RobertReading-l5k]

The Tory peer, who was previously tasked with overseeing Whitehall efficiency, blamed “civil service incompetence” for the surge in government borrowing since the financial crisis.@@andynewham3352

[@RobertReading-l5k]

​@@andynewham3352The Tory peer, who was previously tasked with overseeing Whitehall efficiency, blamed “civil service incompetence” for the surge in government borrowing since the financial crisis.

[@fahrenheitmusic]

You need to prepare better. Your presentation is a stumbling shambles

[@stevo728822]

Lol...Charlie is clueless about modern 304flation. Hilarious.

[@relobmit]

en.m.wikipedia.org/wiki/The_purpose_of_a_system_is_what_it_does "The purpose of a system is what it does (POSIWID) is a systems thinking heuristic coined by Stafford Beer, who observed that there is 'no point in claiming that the purpose of a system is to do what it constantly fails to do.'"