Author Topic: Next 6 Months  (Read 631 times)

Hugh

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Next 6 Months
« on: Sep 27, 2020, 09:04:05 AM »
Very soon thousands of people are likely to become unemployed and not be able to carry on with their mortgage repayments or pay their rent, so could all become home less. Many of the rented properties are some ones pension. What's happening in Penally where homes will be very difficult to sell and devalued, could happen through out UK. Christmas is coming but a very unhappy one for many.

klondike

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Re: Next 6 Months
« Reply #1 on: Sep 27, 2020, 09:24:28 AM »
Yes. I can't see the seed from Rishi's money tree being viable enough to plant a forest of them. A change of tack will have to come. I hope it comes soon enough to save some busnesses, jobs and that way possibly even lives.
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According to this story in the Express it seems Rishi doubts the seed viability too. It suggests he may have been on the brink of resigning should Boris get his way and impose a second full lockdown. I'm having serious doubts about how long Boris can remain our PM as he seems unable to grasp the enormity of what the government have done already.


https://www.express.co.uk/news/uk/1340473/Coronavirus-news-COVID-19-lockdown-Rishi-Sunak-Boris-Johnson-Chancellor-Health
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xetog

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Re: Next 6 Months
« Reply #2 on: Sep 27, 2020, 09:51:15 AM »
There used to be a benefit that covered the interest on mortgages taken on before unemployment.  I don't know if this still exists, although with interest rates at their current level it would not be an expensive thing to do given that anyone who qualifies can get a rent allowance, so I do not see why too many will be homeless unless the price of their letting is ridiculously high as councils do not want thousands of rehoming cases on their hands, so might be sympathetic.


As far as property values are concerned, prices certainly will  be driven down by landlords selling off their empires cheap.  Last year I sold my house at a reasonable price.  Events meant the sale fell though, but I won't go into that.  Just around the corner is an exact copy of our house being let out and the owner is selling to get it off his hands.  He has priced it at £32k less than I sold ours for last year.  That is a huge drop, but it will affect the value of our property for years to come.


Mike.X
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klondike

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Re: Next 6 Months
« Reply #3 on: Sep 27, 2020, 09:53:44 AM »
You've touched on another problem there - negative equity.

Anyway on your original point my mate google says...

If you get JSA, ESA, Income Support or Universal Credit, the DWP will usually pay the interest on up to £200,000 of your mortgage. If you get Pension Credit, the DWP will usually pay the interest on up to £100,000 of your mortgage. ... The DWP might take some money off your payments if you get money from: work.
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Hugh

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Re: Next 6 Months
« Reply #4 on: Sep 27, 2020, 10:12:49 AM »
Fruits of money trees now been harvested and not much left. Cries for help are coming in from all directions. Zoos now finding it very difficult to pay their staff and feed the animals. Shops and cafes whose customers are office worker who are now working from home are also suffering. Working from home I believe in many cases here to stay. 

klondike

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Re: Next 6 Months
« Reply #5 on: Sep 27, 2020, 10:15:34 AM »
As will be not working at all for plenty.
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digitalis

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Re: Next 6 Months
« Reply #6 on: Sep 27, 2020, 10:37:33 AM »
Fascinating post and subject. We maybe in unchartered waters. The flow on must be coming soon just as like far away tsunamis can be monitored but the waves not seen until they hit shore.


Expect massive job and salary cuts. I heard yesterday the government is to cut benefits for those already having to go to the foodbanks and the like. £20 I heard. That's massive to those people. Airline captains are becoming Asda lorry drivers...if they are lucky to get the jobs. Again,more disparity in wealth as some will be in professions or jobs that go untouched(or even make more money)but many will have their jobs and security threatened.


My prophet and shelf stacker makes comment on lower  football clubs going bust. It follows players let go and audience revenues falling. One begets another.


As tenets lose jobs and cant pay rent evictions must follow,but then landlords will not be able to pay mortgages so try to sell before more price reductions in housing prices fall.


Lucky scientific officers who have shares in pharmaceutical industries will benefit. With insider dealing others might invest. For Joe Normal it might be hold on tight to your hat,consolidate your debt,watch out.




klondike

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Re: Next 6 Months
« Reply #7 on: Sep 27, 2020, 10:49:27 AM »
Still on the bright side I'm sure the government won't let this little setback put paid to their plans to ban sale of new vehicles with combustion engines from 2030 or the whole country being carbon neutral by 2050.

I'm not sure either target is necessary as few on the dole will be buying cars at all and with half the population in tents there won't be much gas used anyway.
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Michael Rolls

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Re: Next 6 Months
« Reply #8 on: Sep 27, 2020, 10:57:48 AM »
It does rather put those silly virtue-signalling ideas into perspective, doesn't it?
Mike
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Diasi

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Re: Next 6 Months
« Reply #9 on: Sep 27, 2020, 11:08:37 AM »
In defence of Boris Johnson, we've heard no lampooning of local authority leaders like Andy Burnham who, for months, has been shouting for stricter measures & lockdowns.
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klondike

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Re: Next 6 Months
« Reply #10 on: Sep 27, 2020, 11:23:51 AM »
Apparently so was Khan. As it was Khan and so London and irrelevant to me I didn't read the story but do recall a headline recently.
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Diasi

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Re: Next 6 Months
« Reply #11 on: Sep 27, 2020, 11:40:59 AM »
Apparently so was Khan. As it was Khan and so London and irrelevant to me I didn't read the story but do recall a headline recently.

Yes, both Khan & Burnham have, for months, been lambasting Boris Johnson for not being tough enough with lockdown measures.
Make every day count, each day is precious.
"Death leaves a heartache no one can heal, love leaves a memory no one can steal".  (Cassandra)

Hugh

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Re: Next 6 Months
« Reply #12 on: Sep 27, 2020, 11:45:29 AM »
Getting away from doom and gloom HS2 now been given the go ahead will create thousands of jobs. The first all electric passenger plane now being tested which will I am sure create many jobs. Fueling these aircrafts will be a problem at all airports, but I have a very strong feel Japanese firms will be heading our way just like they have done in the car industry.

GrannyMac

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Re: Next 6 Months
« Reply #13 on: Sep 27, 2020, 11:55:37 AM »
As will be not working at all for plenty.


Universal Basic Income? It would mean more workers could manage on fewer hours, perhaps four day weeks might become the norm?
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zoony

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Re: Next 6 Months
« Reply #14 on: Sep 27, 2020, 11:58:27 AM »
Yes Mac. There seems to be an inevitability about it though I don't hear it mooted..
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