The Finance Insurance and Real Estate (FIRE) burning down the free market in Housing.
You fought hard and you saved and earned
But all of it’s going to burn
And your mind, your tiny mind
You know you’ve really been so blind
Now’s your time, burn your mind
You’re falling far, too far behind
Good piece. LBG also in position to scoop properties from distressed customers. Banks, funds & their lawyers (including @AGinsight on BBC News re ‘build to rent) present false narrative ‘to satisfy the growing demand to rent’. BS. No ‘willing’ demand to rent. It’s forced demand
— Paul Carlier (@Carlier_J87) May 7, 2023
2/2
The financialization of rented homes: continuity and change in housing financializationhttps://t.co/kdSmc0HAmH— Real-Estate Land Development Limited (@RealEstateLand3) May 7, 2023
“Using data provided by the Financial Times (2017), it was possible to identify the ten investors with the largest shareholdings in the UK’s biggest housebuilders. This analysis revealed that the largest investors held shares in multiple housebuilding firms. Indeed, three investment managers (Legal and General Investment Management, Norges Investment Management, Vanguard Group) were among in the largest shareholders in eight of the nine biggest housebuilders. Through this, these organisations can exert significant influence not just on one housebuilding firm and its financial decisions, but on the industry at large. They could assert their demand for maximising shareholder value in eight different board rooms, knowing what the ramifications of selling their shares would be for wider confidence in the firm and its stock price.”
“The global nature of financial interest in UK housebuilders is indicated by the fact that many of the largest shareholders were not UK investment managers. For instance, an estimated 71% of all shares in Taylor Wimpey were, at the time of data collection, held by investment managers based overseas. The surpluses created by housebuilders, and then paid out in dividends, are likely to flow well beyond UK shores, and potentially be reinvested outside of the UK’s housing market. This makes it challenging to assess the ultimate impact of such large-scale distribution of surpluses on domestic housing production. It also poses serious questions about the prospects for decisive intervention in these processes by any national government that is seeking to ramp up housing supply.”
Peter, you have stated the solution, build local Authority housing at the local level and fund at a local level. For new private affordable homes again local financing. Big subject problem #GoingDirect #Globalfinacialisationhttps://t.co/Lb1mJjaGEz
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
#AbsorptionRate #Dividends #Sharebuybacks #TopPay #SalesIncentives #LandBanking.
#Financialisation #Goingdirect
15 December 2022
https://uk.finance.yahoo.com/quote/BDEV.L/holders?p=BDEV.L
https://uk.finance.yahoo.com/quote/TW.L/holders?p=TW.L
UK’s biggest housebuilders hand top bosses bumper bonuses https://t.co/FnQXsfeVfP
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
https://uk.finance.yahoo.com/quote/PSN.L?p=PSN.L&.tsrc=fin-srch
https://uk.finance.yahoo.com/quote/BWY.L?p=BWY.L&.tsrc=fin-srch
ST (£) “Under the rejected proposal, chief executive Greg Fitzgerald would have been in line to receive as much as £60 million.” Ubben believes huge incentives will mean builder of Bovis and Linden homes will somehow buck the market. What a very silly man. https://t.co/GOBmV938km
— Peter Bill (@peterproperty) May 7, 2023
https://uk.finance.yahoo.com/quote/VTY.L/holders?p=VTY.L
https://uk.finance.yahoo.com/quote/BKG.L/insider-roster?p=BKG.L
https://uk.finance.yahoo.com/quote/RDW.L/insider-roster?p=RDW.L
VISTRY AND COUNTRYSIDE COMPLETE MERGER
THE RECENT MERGER OF COUNTRYSIDE PARTNERSHIPS AND VISTRY WILL SEE VISTRY HOUSEBUILDING AND COUNTRYSIDE PARTNERSHIPS TOGETHER FORM THE VISTRY GROUP
In an interview for Housing Today, Stephen Teagle, who as well as being CEO of Countryside Partnerships is Chair of The Housing Forum, discussed how Countryside’s 4,400 homes-a-year partnerships business will combine with Vistry’s 2,000 homes-a-year operation to form the biggest partnerships housing firm in the UK, with pro-forma 2021 revenue of £1.9bn.
Stephen Teagle says: “We expect the delivering as a business to be well in excess of 15,000 homes a year.”
Vistry and Countryside complete merger https://t.co/knrSq46kGj
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
https://www.house-builder.co.uk/news/countryside-rejects-takeover-bid/
May 30, 2022
But Jeffrey Ubben, Inclusive Capital’s founder and managing partner, said
in the company’s statement: “We believe that Countryside shareholders
should be informed about our proposal to enable them to form their own
view.
My Folder of Articles related to the Inclusive Capital Hostile Bid for Countryside.
Bloor Homes is an English housebuilder based in Measham, Leicestershire.[1]
History[edit]
The company was founded by John Bloor in 1969.[2] In 2002, housing sales reached 1,870 making Bloor Homes then the largest housebuilder to be owned by one person.[3] As of 2016, Bloor Homes is now one of the largest privately owned housebuilding groups in the UK. The combined group is worth around £725 million.[4]
Legal & General Capital acquires full ownership of CALA Homes
Legal & General Group announces today that its Legal & General Capital division has acquired the 52.1% of CALA Homes which it did not previously own.
13 Mar 2018
The business has performed strongly under our joint ownership with Patron Capital Partners, with revenues growing threefold from £241m in 2013 to £748m in 2017, and profits growing at a CAGR of 12% over the last three years.
Legal & General believes that CALA Homes has attractive growth prospects under its continued ownership based on Legal & General Capital’s long term approach to investing and the attractive market for housebuilding in the UK.
If CALA Homes had been 100% owned by Legal & General during 2017 on a post transaction basis, the operating profit before tax would have been £91.5m. Legal & General reported operating profit before tax for its 47.88% stake in CALA Homes in 2017 of £42.5m.
The total valuation of 100% of the equity in CALA Homes was £605m. The acquisition cost of the 52.1% share capital Legal & General did not own was £315m plus additional transaction costs and financial adjustments to reflect the contribution of management and Patron during the period of our joint ownership.
Miller Homes Privately Held
Crest Nicolson Plc
https://uk.finance.yahoo.com/quote/CRST.L/insider-transactions?p=CRST.L
Crest Nicholson to pay bonuses despite shareholder revolt https://t.co/Eh4fAw1BYZ
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
MJ Gleeson
https://uk.finance.yahoo.com/quote/GLE.L?p=GLE.L
St. Modwen accepts Blackstone’s raised $1.75 bln take-private offer
The company has also benefited from a strong recovery in the housing market after an initial hit from the health crisis.
The recommended 560 pence per share cash offer for St. Modwen was final, Blackstone said, but it could make a new proposal if another suitor for the real estate developer emerged.
Shares of St. Modwen, which builds homes, owns and manages several industrial and logistics assets in Britain, were hardly changed at 553 pence in morning trading.
If Conservatives don't intervene in housing, young adults won't have any salary left. This sounds like a joke. But look at the trajectory. Rental prices = hyper inflation. Paired with more hyper inflation. Give it a few years and hundreds of thousands are in the negative.
— Charlotte Gill (@CharlotteCGill) May 7, 2023
https://t.co/XcM2F2PX8E #EverythingBubble everything effects everything else #Event201 #EverythingBust #PylosbeforePylos
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
Market Break Down England and Wales. Plumplot
Dec 2022, Jan 2023, Feb2023, March 2023 Full breakdowns in folder.( Click Blue Link)
ST (£) Tom Bill; “The truth is that there are tens of thousands of individual housing markets..each with their own supply and demand dynamics. As a result, a national index will not necessarily tell you much about what is happening on your street.” https://t.co/N8pgLqmpWd
— Peter Bill (@peterproperty) May 7, 2023
Peter, you have stated the solution, build local Authority housing at the local level and fund at a local level. For new private affordable homes again local financing. Big subject problem #GoingDirect #Globalfinacialisationhttps://t.co/Lb1mJjaGEz
— Real-Estate Land Development Limited (@RealEstateLand3) May 8, 2023
Even local authorities effectively ignored this in London
They hold a one-day sales event somewhere in London, not close to the actual development
Then foreign sales start across multiple international offices, well advertised
This was for a Tower Hamlets Council led development!— Andrew Wood (@Andrewwood17) May 7, 2023
The Polarisation of the discourse into two broad groupings is explained in an interesting paper
Framing The Housing Crisis by Chris Foye of Henley Business school , University of reading.
“To conclude though, I want to focus on two trends these think-tanks’ framings shared in common. First, all three think-tanks agreed that a shortage of supply was the main ‘cause’ of housing unaffordability. Inversely, there was almost no reference to the role of demand-side factors, such as interest rates, mortgage market liberalisation, the income elasticity of demand or income/wealth in- equalities, all of which are recognised by neoclassical economists to have comparably large effects on house prices and affordability”
#AbsorptionRate #Dividends #Sharebuybacks #TopPay #SalesIncentives #LandBanking.
#AbsorbtionRate Letwin #MissallocatedCredit Redfern #Monopoly #rentierisation #Fiscalisation @homeatix #HousingCrisis #feature of #neoliberalpoliticaleconomy #notabug @DrCameronMurray @ianmulheirn @financialeyes @scientificecon @GenRentBook @genrentuk https://t.co/omL6r3pMIe pic.twitter.com/B7R6QXm2Pf
— Real-Estate Land Development Limited (@RealEstateLand3) January 16, 2023
Great long read on the history of the Irish housing crisis by @colin_gannon.
Much like the UK, strong policy preference for home ownership plus liberalisation of financial sector have led to disaster. https://t.co/GjTPrA18Cx— josh ryan-collins (@jryancollins) May 7, 2023
Exclusive in @thetimes:
I understand ‘pure’ 100% mortgages will be back on the shelves from this week, with Skipton’s new “trapped renter” mortgage launching as soon as *tomorrow*.
Not 100% on all the details but understand will be a more than 2-y fixhttps://t.co/eIaCyQiL6W
— George Nixon (@George_Nixon97) May 8, 2023
DT (£) “Sales of government land should be restricted to small builders..Treasury dogma that such sales are fetching “sub-market” prices must be fiercely resisted.” Interesting idea in otherwise ‘who is going to do this – and why should they” article. https://t.co/b3VEDmCjrv
— Peter Bill (@peterproperty) May 8, 2023
The same exercise as can be done on Consolidation of House-building Companies can also be done on The Consolidation of the Contracting Business.
https://www.building.co.uk/focus/top-50-contractors-2022-the-table/5120917.article
The Gielen Documentary Monopoly shows how widespread this centralisation is.
MONOPOLY. FILM ABOUT NOW FROM #WHO TO #THEY
Franklin D. Roosevelt
“
”
— Franklin D. Roosevelt, “Message from the President of the United States Transmitting Recommendations Relative to the Strengthening and Enforcement ofAnti-trust Laws”[9][10]
They? #Metternich and #DeMaistre v #ThomasJefferson and #JohnStuartMill
1 thought on “The Finance Insurance and Real Estate (FIRE) burning down the free market in Housing.#AbsorptionRate #Dividends #Sharebuybacks #TopPay #SalesIncentives #LandBanking.”