How You Lose Your House
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- čas přidán 13. 06. 2024
- Middle class families are getting poorer generation by generation. And the trend is accelerating.
The Trading Game by Gary Stevenson is released on 5 March.
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Performed by Gary Stevenson
@garyseconomics
When Thatcher gave ‘the right to buy’ to people to purchase their own council houses back in the day, now, nearly half those homes are in the hands of private landlords… I wondered how come? Thank you for explaining it to me. ✌🏾❣️
And of course as a result there's a huge lack of social housing available
😂😂😂😂 you seriously miss the point!!!
The minute you charged rent for your spare bedroom to a lodger you became a private landlord.
@@tomjones8715🤷🏽♀️ obviously, because I dunno what I said that is so funny… although always happy to make someone laugh! ✌🏾❣️
Much more than half. Thatcher wanted to create a nation of property owning Tories.
A friend of mine is a homeowner. Before Liz Truss and Kwasi Kwarteng made their budget announcement in 2022 he just about managed to pay his mortgage; after the announcement which led to the Bank of England ramping up interest rates, his mortgage TRIPLED! He is now in debt - this, on top of food and energy price rises because of corporate price-gouging! When Sunak took over as PM and Hunt became Chancellor, they decided they were going to rub salt in the wound by imposing more austerity cuts with tax rises on ordinary earners, whilst letting the super rich off the hook. A lot of tax payer's money ends up in tax breaks and subsidies to big corporations. It isn't a surprise to learn that British Gas has had a tenth-fold increase in its profits - a 930% in one year! This is SCANDALOUS. Meanwhile the energy companies fleece the public, council tax and rent increase letters are beginning to drop through the door! Why is it everytime there is a crisis, we end up paying, never the fucking rich???
That explains why my Gas Bill has gone "through the roof" and I've hardly had my gas fire on all year!
@@mikeoglen6848net zero levies is responsible.
Simply because we allow it, by doing nothing other than moan about it.
The interest rate rise wasn't liz truss's fault, she was a scapegoat, the interest rates will always follow American fed policy. If America puts their interests rates up and we don't you'll get a flood of cash leaving the UK banks to get better returns in the US, the fed controls everything indirectly.
Absolutely agree
Fair play to the guy, he is telling you he is wealthy in a system designed to protect the rich, yet unlike most he has exposed the system and given remedy that clearly is a disadvantage to him. We could do with a lot more unselfish people like Gary, well done young man 👏
Well to be honest he may be rich but at least he earn't that money from work. This is what he's trying to get across, it's not about those who earn money from work, it's the already acculated wealth that gains value without actually needing to do anything for it.
@@David-bi6lf Gary "earned" his money through betting. The entire financial sector is simply betting, and it is a betting system that is rigged (through insider knowledge) in a similar sense to the way the casino's or bookies always win. Betting is not work.
@@roywilkinson2078 still better than the ultra wealthy that don't need to anything.
@@roywilkinson2078
The point 👉 ➡️
Roy 👨
He got his money through luck and happenstance and he knows it. He happened to have a brain that could understand the system, and he lucked out in getting access to the system. Now he's using his position to expose the system to everyone who is "where he came from" so we can understand how the system is rigged against us - and knowing the problem is the first step towards fixing it.
My grandparents owned a house, my parents rent, I live in overcrowded social housing. At this rate if I manage to have kids they'd probably be homeless. Thank you Gary and those behind the scenes for advocating for us. ❤
Become Muslim have 10 kids and the mosque will make sure you're first in the queue for housing when the time comes you can take over England and have Sharia law in place. But remember you mustn't do the sensible thing you must marry and start reproducing first then you get priority on the housing.
We are moving back to being nomadic hunter gatherers...partial joke
Mine are already homeless and work full time, they are in their 30's and it's heartbreaking.
I know, i'm glad I opted for 1 child. It's the university costs too. Like £40k debt if maxed out.
Kids need schools, wages, holidays, rooms. And pay University at local (much lower) prices. The UK wants only cash and productive people and the bosses planned to import them from poor countries to "study" at full prices (hoping to remain in the UK and bring the family) and/or immigrate to work in the UK for low wages that nobody local want.
Thank you for this Gary. I've never had a pot to piss in my whole life. I've managed to pay off the mortgage on the council house I lived in all my life. I'm 53, disabled, and genuinely worried about my future. God bless.
53 and paid off your mortgage......you have done extremely well....big yourself up.
I know people in their late 30s..... Single alone without kids and facing homelessness and lack of calories. Sadly a few self deleted
@@penderyn8794 Thank you. When I realised my disability was going to stop me from working, I practically starved and went nowhere for 6 years to save enough. Paid it off this January. I feel genuinely sick for other folk in much worse situations. I even chose not to have kids about 18 years ago, as I knew the shit-show this country was going to be in. The days when the middle-classes can state "Our kids will be just fine" are long gone. Bless you.
@@penderyn8794 that’s a huge achievement but I’m thinking it’s likely not typical as the right to buy scheme which I assume they bought under sold off council houses fairly cheap. These days a like for like house may not be so easily paid off. I’m also hoping to get my mortgage paid off by age 55 years. I have no friends or family and terrified of not having a roof over me! Good luck to us all in these strange times! 🤍
Well done Gary. Saw you recently on politics Joe, it was excellent. I've shared the vid with my kids. The great American Bernie Sanders shouts about taxing the top 1%. He's so right and so are you. Thanks for caring.
@@penderyn8794 I have just payed my last installment on my house at 45 but I believe these clowns in government are somehow going to pull some crap on folks like me to asset strip us by back door taxation, Agenda 2030 you will own nothing and be happy! I vote for revolution.
My grandfather worked at a toilet paper factory as a machinist. The factory started selling off it's cottages in 1950s/60s. My grandad already owned his own home and they offered him one of these cottages and he could afford to buy one without even saving money. He said someone who needs the cottage should get it. A sentiment I wish more people had today. Anyway to buy a terraced house on that row today would be about £260,000. On the topic, the factory would make blue and pink toilet paper and the river that ran at the bottom of the factory would be dyed blue or pink depending on what toilet paper they were producing that day. Luckily the river is less poluted now, apart from the water company.
I really enjoyed this post. 😊 Bet you're full of interesting stories like this. 👍😊
Working in a toilet roll factory has got to be the perfect place to take a let lose a gigantic shit
@@mella8298my immigrant dad was like that. In the 80s he moved us as a young family to a larger home a wedding outgrown our little terrace. He could afford to keep the terrace for rental but once he heard his nephew was getting married he undersold it to him. My mom was furious lol as she knew prices would likely increase. As it was we could have done with keeping the house in the family as my brother developed severe health issues meaning he’d be on benefits most his life despite his initial academic success leading to a place being offers at Oxford. That property would have been perfect for him to move into and for my patents not to worry so much about his future. My dad’s passed now but it’s nice he thought of others in that way. A sense of community sadly lost now.
Cadbury's village, anthr one.
@@averyintelligencelike I'd be a tester 😂
Hi Gary, I only discovered your channel a couple of days ago after seeing you on PoliticsJoe. I have been catching up on your videos since. I really appreciate your no-nonsense, easy-to-understand style, knowing it comes from experience. Many of us watching your videos can relate what you are saying directly to our own lives (I know that because I am seeing the thumbs-up button going mad as I write this). You are making me think of wealth, tax and politics in a new light.
yes same, fantastic interview that was on politics joe. i watched a few of his panel appearances and its crazy how they dont allow him to get his point across in them. thank god for channels like politics joe (and this one) so we can hear the thoughts properly!
Current care fees for my mum are £6200 per month. If that's not f ucked up I dont know what is. Edit : Made this comment two month a ago and just had another thumbs up so I read it again and spotted the typo, correction 6.5 k per month. For those people saying look after her yourself, have you ever cared/lived with someone who has dementia? particularly a parent? Apart from the obvious, I find it torturous seeing my mum slowly lose her faculties.
yep ridiculous, what happens when her savings and house sale stops paying for it, does the cost pass on to the government ?
@@chronicles8324: Yes but only up to a certain figure which was £800 per month ……that was two years ago.
@@chronicles8324 if you run out of funds then the government steps in apparently but it’s not guaranteed that she will be in the same home.
Yeah if you see yourself in decline sign your assets away to your kids and then they can't be touched and you still get the same level of care@@chronicles8324
Why not have your mum in and care for her yourself, and inherit her house , or vi's versa
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
When i did a little digging into who was buying all of the homes in my area, without even seiing them, i quickly found out that it tied to blackrock.They have so much money that i imagine they are always looking for new investment ideas. After some more digging i found they bought 40% of the houses in my parents area because models showed it was a good place for the rental market. The reason i looked into who the buyers were is because talking to people in the area i couldn't find one person that had the money to buy a home at the prices they were selling for.
American wealth destroying British people needs to end
I've known & thought this for a while but after seeing your comment a thought popped into my head, I wonder who is going to be living in them property's 🤔 & I wonder who is going to be paying for them 🤔 Could it not be those paying & living in motels 🤔
crikey
Oh yes. Now that money is buying up mobile home parks all around the US. They buy out the often elderly owners then jack up the lot fees - people own the home but not the land it sits on (technically they could move it but it’s very expensive). Years ago this wasn’t a thing but there’s so much money hunting for profits that it is now.
Capitalism is a machine that will eat itself.
and they control the politicians that impose regulations to drive the little guys out of the market. They then turf out long standing residents to accommodate foreign illegals and sell on the units as investments guaranteed by on going government expenditure. Tory and Liebour are exactly alike.
The question I never hear answered is when the generation that owns no property gets to old age who will pay for end of life care? I think most politicians are just geared to getting through the next five year election cycle and they are too scared of admitting the flaws in our property owning democracy.
Bang on. We’ve kicked the can down the road for so long that our society will disintegrate when millennials need social care help in older age
It will be like much of the USA where people in their 70s and 80s are working on check outs.
The baby boomers cannot take their property with them when they die, the vast majority will hand it down to their kids in their 70s to avoid paying for end of life care when the government provides it for free.
The ones who are screwed are the ones whose parents have no wealth to pass on.
@@crayontom9687millennials with no children of their own and a declining population.
Our short-termist political parties won't address that question as it's too far into the future. I agree though this will be a problem down the road.
Nice insight Gary. There is a massive problem with ‘Turkeys voting for Christmas’ with this one, as it were. The whole mindset that you look after your parents in old age and ‘why should my tax go to paying for your mum’s care’ and so on.
I’ve experienced this first hand and managed, with great difficulty, to protect my mum’s house from the grasping hands of the local authority. We had to literally draw all the money out as cash, about £100k and hide it so they couldn’t get at it.
They tried coming after us but we held firm and they finally gave up. It was a very stressful time being a target of state sanctioned theft.
No government seems to have any appetite to deal with this chaotic old age care crisis. Theresa May almost did but bottled out in the end.
I think enough people still don’t understand just how financially catastrophic old age care has the potential to be.
Councils are even managing to get trusts overturned now, that were put in place to protect property.
Did you just admit to tax evasion 😂
Neither of our establishment parties are offering to solve these issues. So it's more like, Turkey's you can vote for anything you like but you're getting Christmas.
@@cazzac4817if that’s your takeaway from what I wrote then you are lost.
We are talking about organised theft by government from those who have very little, in order to keep the super rich in their position. Never be complicit in such a sick game
I don’t think Theresa May bottled it, more messed up the execution of selling it to the people and paid for it at the election. However, it’s still not a solution. Decent State care is required and should be funded by taxes. Not private care which is pretty much bankrupting families, while the care home owners make off like bandits. NHS and care provision needs overhaul. The super rich need to be taxed appropriately. To quote Mark Blythe, the Hamptons (Long island) are not a defendable position!
The prospect of losing your home to pay for your end of life years is something that happens a lot even in wealthy countries. Switzerland for instance, I was stunned when I spoke to many ordinary people, who told me their parents' homes had to be sold to pay for the extortionate fees of nursing homes. Govt offers very little help. It means the next generation lose that entire inheritance of their parents' home, often in just a matter of two or three years of nursing home costs. What's bizarre is how many other Swiss people I spoke to who thought this system was right and fair, I couldn't believe it. As an Irishman, with our history of being evicted from our homes during the Plantations, I find it hard to fathom how people could be fine with such a system, even in supposedly rich Switzerland :/
The swiss put away 20% of their salary and retire on magnificent incomes.
What really gets my goat is the council takes your home and then uses the money from that home until they whittle down the value to about 17k. Given that at thousands a week then will get through it pretty quickly.
@@busandcoach some do, but there's a lot of people in Switzerland who are very far from rich, and even those with wealth can see it dwindle away quickly due to truly frightening nursing home/homecare costs
Propoganda and brainwashing is highly effective. Very, very few people have the inclination to turn their middle finger towards everything they've been told in their lives. It's a lot of work to rebuild your whole mental model of existence.
@@tomasohaodha6052 dunno mate I lived there for 14 years, fuck all poverty there. A dishwasher can earn 3.5k a month for a rent of as little as 600 a month. In England while the majority are hanging on by their fingernails, in Switzerland you are never worried about paying the gas bill.
I pray that the UK will change their tax policy to focus on taxing the huge lakes of wealth, rather than the small puddles and trickling streams, lest they dry up altogether.
Love the channel, much love from the USA
@@Condor_Commentary Not like he can vote is it
@@Condor_Commentary hey, I can only change things on my end, but I’m trying to support Gary and get the message out there as much as possible
@@gomperhooblet why so snippy?! 😂
But wtf do I know? I’m just an ancient Welsh anarchist who thinks *any* blokey invented hierarchical system isn’t gonna be bitch friendly (don’t even get me started on the ‘god’ Big 3 ones 😂) so I could or would *never* put my name to any of those ‘make me the boss of you’ mofos 😂 So, just out of interest, given that ‘democracy’ was invented thousands of years ago and has had all that time to practice and perfect, how’s that working out for you, dear voter?
One world, one love, no borders ✌🏾❣️
@@jelly_fischerthank you anyone supporting Gary is good in my eyes I’m looking forward to reading his book , I’ve been following him for a long time , people like him are our only hope , of educating people to why we are in this mess , than they might stand up for our economic rights
The UK state and it's establishment were built this way.
If anything, labour is desperately trying to save it. The Tories are merely accelerating it's demise
I'm 51 I own nothing. I'm looking forward to homelessness, etc, as soon as I can no longer work. No family and now I realise luckily no children to worry about. I just try to enjoy every day because the future quite frankly doesn't bare thinking about. He's correct 2 generations ago my family was wealthy we had a privilege life. How quickly things can change all it takes is a bit of illness and an economic decline. I really did have the most fabulous childhood though.
Go and teach abroad and save 25K a year tax free; Hong kong; china; Dubai...in the same boat mate, 51 here. Studying on the OU.
@@NutmegsyourmanGood plan, South East Asia growth is high Africa 30 percent, The U.K. on a decline 0.2 percent, just look at the shopping centres, services and roads
Not a bad idea if you still have the fortitude and good health to emigrate . Many older people are plain worn out now , and ambition is a distant memory@@Nutmegsyourman
no children just ensures homelessness at old age
some of the comments on here, you would think that the billionaires of the internet all watch Garys videos? the comments from people scared that when someone says "tax the rich" they automatically think its them with their 100K savings / 400K house. your small fry mate. by not getting the super rich taxed correctly, your only empowering a government to come after your money eventually. your not even in the same pond
Absolutely, just look at the wealth distribution of the 60s and now. It's pretty clear what is happening, the entire middle class is disappearing. In time that also goes for the upper middle class who still think they're rich. Also the argument that billionaires are providing jobs (basically trickle down) is nonsense. All they do now is accumulating wealth in unproductive assets and extracting rent.
Great talk, Gary. We've got three adult kids living at home, trying to figure out how to get their own places. With increasing bills, it looks like most young people wouldn't keep up with the costs of staying alive under their own roof. Older people have more health costs but it feels like everyone is taxed for the right to breath.
Can you talk about the changing standards in house building? It's interesting that a lot of the houses that used to be available to buy were well built because they were built to be assets for the rich. The first house I bought would have been built by one of the big car companies in the Midlands. The house we currently live in is ex-coal board. Some of the best built houses I've ever seen are council houses built in the 1930s and 40s.These houses weren't built for working people to own and invest in, but they do have the advantage of being built in areas where people need to live, close to city centres. New build "affordable" homes are too small, badly built on the worst land, and look like a horrible investment. Looking at older houses reminds us that children used to be brought up in houses with a garden to play in, not high rise flats.
Have they tried not eating avocado and buying coffees?
Just kidding. I’m not a moron.
There are two elephants in the room, one is diminishing property ownership, the other has been diminishing pension provision. Final salary pension schemes were closed out from the 1990’s onwards as such more and more people facing retirement now have insufficient assets whether that is housing, pension provision or savings. As Gary points out many people who may have relied on inheritances will find that after several years of nursing or care home costs that trickle down may turn out to be worth zero.
The third elephant is mass immigration, you can’t put a quart in a pint pot .
Brilliantly put, Gary.
Tax as a tool for redistribution, not just for state spending.
Problem atm is the working middle class families are paying a disproportionate amount of the tax while the rich find ways to write off a lot of tax.
How many of these rich people will it take to pay for 70 million people’s social care? Gary’s solution for everything is to tax the rich like it’s some revolutionary new idea. This analysis lacks any depth about the numbers involved or any modelling about how this extra revenue meets the needs of the UK’s ageing population
Expecting the thieves at the treasury to redistribute the money they’ve stolen 😂🤡
I think some replies misunderstood my meaning. The dialogues around taxation is usually around funding spending. I think it is inherently good to tax wealth to remove the wealth, redistributing assets, and levelling power relationships.
@@thejuicydollop That's not how money works.
The government is the currency issuer. It can issue as much money as it likes.
It could cut all tax to zero and keep paying its bills.
OK, yes, if it cut tax to zero, there would be inflation.
Which makes my point. The purpose of tax is the control of inflation. Not revenue.
The government doesn't need your money, its just needs you to not have it.
My grandma’s house paid for her care home. So the money went upwards.
Inheritance tax taken off when my father died the rest went on his care.
So my generation and my kid will be left with nothing and unable to buy a house
Exactly as planned I'm afraid.
Putting 2/5 percent away in Bitcoin could help beat inflation
@@PabloDon27 Errr... 10 years ago maybe. Not now. BTC has peaked, It could easily be back to 20k in 6 months. Its too variable to be an investment.
@@evildrome it’s variability, is overcome by viewing in a secular manner long term investment strategy In finance, secular is a descriptive word used to refer to market activities that occur over the long term. Secular can also point to specific stocks or stock sectors unaffected by short-term trends. Secular trends are not seasonal or cyclical.
In a secular graph bitcoin has done 150 percent growth per year, what does property do but is barely keeping up with inflation, same with Gold, probably even worse, let only real world inflation, That’s why most of the largest investment firms have all been heavily investing in via Bitcoin ETFs, with Blackrock Larry Fink even stating . It is an asset class that protects you." and with its upcoming Havling it becomes 50 percent more deflationary, name one commodity or investment that has done better in 5/10/ years or since it’s beginnings in 2009 ?
If old people fail to plan their estate/inheritence properly then that’s on them.
"If we tax the wealth back from the people who are taking your wealth, we can use that to give you the things you need which you otherwise have to sell your home to afford" Boom!
Government doesn't need your money or the money of the rich to do stuff.
Its the currency issuer. Anything it wants to do and for which the real resources exist, it can do.
The "money" is never a problem.
We need to tax the rich to stop them outbidding us on houses and to prevent the rise of a multi-generational Plutocracy but not because "we need their money".
We don't.
Long time follower here and am looking forward to getting your book.
Thanks, as always, for the no nonsense wisdom and relating things in layman's terms.
Often a problem with the left is the unnecessary use of academic longting explanations - which while usually technically correct - alienates or causes an instant elitist aversion to those who actually need to receive and digest the message.
Sometimes man's need to understand the message, how it impacts their lives and take action, and in turn get back to their lives. Something the right actually understands quite well!
Subscribed. Heard an interview with you recently, found you fascinating. Mainly because you're a geezer. And that means a lot to me, I can relate - growing up in rough times in rough areas is fucking hard. And that also despite your clear arrogance (which I feel is both completely deserved and part and parcel of who you are) you are now making moves to make things better for other people. You've 100% earned my respect, and we need more people like yourself if we are going to level the playing field for decent hard working normal people. Everybody deserves a chance in this life.
The reason I agree with Gary, is because I see what he's talking about happen, to my family and people I know.
I don't see hoards of refugees or people on benefits stealing the resources, I see houses being too expensive. I see my friends living with their parents until they are 30.
The media is lying to us.
I know people living with their parents in their 40's and 50's.
I don't know about stealing resources, but the UK population has increased by almost 10 million people mainly due to immigration since 2000. These people have to live somewhere. Whatever way you look at it, it puts pressure on housing.
Its both dude. We already have a huge imbalance between supply and demand, adding more people makes this worse. Immigration is beneficial for other reasons, but trying to convince yourself it has no effect on the housing market is wilful ignorance.
@@alexanderrowe790 Unfortunately, in the UK we have a lot of low skilled immigration, with people taking more in welfare and resources than they actually contribute in taxes.
End of life care is a brilliant point Gary. It will ruin so many people’s inheritance - most likely mine as well.
The only thing I would add is that corporation tax also needs an overhaul as too many wealthy families hide massive funds through complex webs of interlocking companies. There will have to be huge investment in better tax legislation and enforcement. Difficult to see that happening in the next ten years.
In excess of 20,000 elderly died needlessly when the government moved patients from hospitals to care homes ,C19 event (source amnesty international) they do have ways of reducing the elderly tax burden👍changes to end of life protocols are already in place🤝Midazolam Matt (Hancock) ring any bells🤔
All it takes is one government that has the honesty and courage to do what the majority of the electorate wants.
Cogent as ever Gary. It really is very simple when someone explains it. Of course - you'll seldom if ever hear this on the MSM....looking forward to the book! Keep doing what you do....
Mate, switched on as always. Looking forward to grabbing your book (pre-ordered). Your a good man with an insight than many of us will never experience in that arena and opening it up to all of us to see. God bless bro. We basically grew up in the same kinda neighbourhood.
1) Tax inheritance - anything more than £2m (adjusted from inflation from now) per receiver. 2) Privately owned land can only be in a person's name, not a corporation or trust. If it's worth more than £2m when the deed holder dies, it gets sold, the beneficiaries get their up-to-£2m each, the rest of it goes to the state, and the state becomes the landlord. Publicly visible contracts for any entity (person or corporation) to lease the land, varying standardised contractual terms depending on what the land is and the use accordingly.
Will never happen, but 1) if anyone says that £2m isn't enough to live off, they're fucking liars. 2) family house worth more than £2m needs to be sold? Well, probably not, because the value of that house is likely to have plummeted to a "reasonable" level. But even so, tough shit - other people don't get that opportunity, so you shouldn't either. 3) A whole lot of people are going to be spending a whole lot more money so it doesn't go to the state... think of the stimulus effect.
Oh, and if anyone claims that all the rich people will leave, good riddance. They can phone me up, I'll drive them to the airport myself.
Many solutions: incentivise employers to pay workers more..
Restrictions on how many homes a private individual or company can own without incurred taxes and
Government to heavily contribute to old age care.
Tax on asset wealth.
And general higher rates of tax for the super rich.
A cap on the pay ratio between the top execs at companies against the average pay. It's well known that for years the pay ratio is ever increasing and when we are told by the government average pay is going up, it's not really, it's just skewed by those at the top. Make it so if the execs want a pay increase everyone else should get one.
Hi I have a senior role in the NHS and would love to explore how the economics of the NHS reflects what you are saying and how that might be a way of getting people to come together around shared class interest- as practical steps to promote equality was Nye Bevan's founding principle for NHS
Came across your videos and wisdom just today morning and I'm in awe. You strike me as a Robin Hood carater. I'm a working dad with a 3 years old beautiful child. Moved to London months before the pandemic, lost my fixed position/job and house back in Portugal, made redundant from the first job I had in London due to the pandemic. My fingers are crossed for this great country to be how it should be and you say it very well how it should be. Hope you know what I mean.
Clear, concise, honest, objective, informed, respectful - thank you for what you do 🙏✨we must find ways to make sure this message cuts through the noise of corporate media, ignorance and self-denial ✨
I saw a house the other day it was £280k and a complete wreck. There were 20 viewings. It went to a builder who has 14 houses who bid £300k. He hands the funds to revamp it and sell it for £360k. I give up, sick of seeing these builders buying houses.
If its a complete wreck, then I can assure you he will be spending more than £60k on it to renovate it. On a positive note: he is returning a house, likely back into the market and making it available for general use, rather than lying there empty.
Been watching it for 40 years, mate.
Nobodies stopping you doing it mate, it’s not easy
Absolutely not.@@user-paullynch
These developers and renovators are also offering a service tbh. Alot of families just want to move into a house already done up and not have to go through months of renovations and live in it. Sometimes ain't possible with young kids.
Tbh most people who are barely affording a home wouldn't be able to buy these properties which require severe works as lenders won't lend. Unless you have a specialist lender.
I wouldn't be upset with a baker buying wholesale or cheap flour then using it to make cakes. When I wanted to use the same flour to make cakes at home.
Older generation bought a lot of houses like a passive income through airbnb or renting. And this is why prices go up. Because amount of houses is limited. And people keep buying them as a passive income not a place to live.
Russian money and that from other foreign investors using London to launder dirty money have helped inflate the prices.
@@gee3883 embarrassing watching you lot avoid the elephant in the room, just embarrassing
Really? Most of the older generation are just getting by. Where do you get your info from, other than the Student Union bar?
@@danw5760 so you don’t think that’s had an impact ? Spill the beans if you’re such an expert
@@WheelieMacBin Who do you think owns all the private rental homes then?
Such a good point. Thank you for sharing Gary - keep up the good work
Thank you very much for distilling pretty complex stuff into a simple digestible format. Been watching all your videos recently and love them, trying to educate myself more on how everything works!
Excellent video. As a lifelong renter-Vancouver BC., I am quite terrified of not being able to have dignified end-of-life.
My question is: who exactly are rich people and what about all these nameless/faceless corporations, numbered companies etc?. There are so many loopholes
Do something to the people in the tall towers, and you'll get free rent and food.
On a vaguely related note, surely the Personal Allowance should be set at the minimum income you need to live on (incl housing, bills & food but excl benefits) before you pay any tax to the Government but you cant live on 12570/yr (1047/m) in most parts of the country so that's basically a Destitution Tax (of 20%)
True, I’ve been expecting it to rise to at least £15k but still not happened 🤦🏻♂️
Thanks Gary. Your book is on pre-order and this viedo is a gem for sharing and explaining simply what's happening. 😀😀💪💪🙏🙏
Excellent, very succinctly put. It's very simple when you listen to this chap
After purchasing my house, ive been looking for a good way to lose it. Thanks for helping me become homeless
my mums house was split three ways. Nowhere near enough to buy a house. And if it had been a larger property, the government would take their share. Still helped lots, bless you mum. But if we'd been on Welfare, it would just be sucked up as the welfare stopped. If you are too poor, it seems impossible to get out of the trap. Unless you are like our new immigrant brothers, they pool their resources, and avoid their taxes too, but that's not the point.
Just read the Guardian about your book and you in general. Keep up the good work, you are getting under their skin. I have been telling friends and family to tune in and have all said you have helped them understand the simple mechanics of the economic system. Thanks Gary👍
One thing not often mentioned regarding the shortage of housing. I'm retired and divorced, I'm lucky enough to own a house, which I live in on my own, but so does my ex-wife. So we take up two of the available houses! I've quite a few friends in the same position. For my parents generation, OK there were widows and widowers living alone but couples lived together (not always happily) I can remember no occurrences then of living couples occupying two houses.
As I've said many times on this channel: equity release or even selling off your whole home nowadays often isn't even enough to cover end of life care. I've seen examples of people in expensive care homes who ran out of money and had to go on a waiting list for social care homes. Last year there were over 37.000 people on waiting lists for a place in a council-run care home.
Yes friends I know have both parents in residential care and the cost for them both is £2000 A WEEK!!
£2k a week I'm in the wrong business@@JohnAdams-kc8wx
@@JohnAdams-kc8wx I never understood why people do not themselves take care of their parents !!!
@@JohnAdams-kc8wx: Well all I can say is your’e lucky…..my mother died two years ago and admittedly she was in a nice care home but her fees were £1650.00 per month.
Where are you supposed to exist while you're on this waiting list?
Bang on, local authorities used to provide social and residential care for the needy old as recently as the 1980's.
The care home industry has been sold on to asset management ( private equity ) companies now. They're just cleaning up in the UK.
Once the torys introduced 'right to buy' it became impossible for councils to build new social housing if the Tennant could just buy it off them for a massive discount 3 years later
The right to buy legislation prevented councils from using the money generated by sales to build replacement housing that was its great fault in my eyes.
@@robertboyle3838
Residential care has been bought up by asset management companies in a big way in the UK, their purpose is to "streamline" the business ( i.e. cut down the front line care ) whilst maximizing the profit ( i.e. rinsing ) care home residents of their life savings and assets. This is happening all across the UK thus shifting the onus from government provided care to asset management provided care which is basically just shifting more wealth to the rich.
You're talking companies like Legal and General here, on the surface they look like they legit care ( buying and building new care homes ) but if you dig a little deeper they're in fact one of Europe's largest asset management companies.
As the Americans love to say... Go figure.
@@robertboyle3838- I’ve been arguing with someone in one of the 50s women’s pensions groups who thinks that people who live in council houses are to blame for everything. It makes me despair.
Just found your channel Gary, you’re spot on. I’m your parents gen, so milked the system. Worked with the big agencies in residential development for 37 years, 20 of which was IoD, Canary Wharf. Seen the lot go up, down and back up. It’s a basket case. Now helping estate regenerations with councils and housing associations. Renting must be a viable alternative way of life, like it used to be. That’s the only way to break our ownership obsession.. Oh & stick CGT on sale of main residences, that’ll things out a bit too.
L&G, Lloyds, Blackstone are finally pouring funds in Build to Rent, not just posh blocks either. Housing’s getting a tasty look. Could be the turning point ?
Thank you Gary for standing up for our economic rights you are an inspiration, good luck with your Book, keep doing what your doing
Thanks again, Gary.
Given the current pretty grim political choices facing the electorate this year, and the chosen position of deafness with respect to ever increasing erosion of living standards of working people, of all ages (as well as those retired on low incomes,) from either Red or Blue teams for the foreseeable future, when do you envisage a wealth tax realistically being introduced, given that a very small percentage wealth tax would create significant public investment opportunities for the UK?
Also, what is your view on various tax mechanisms which could be introduced in light of profiteering companies, like British Gas, recently reporting 900+ % increase in profits in a single year, to raise tax revenues?
Hi Gary, can you do a video on the uneven geographical distribution of economic wealth in England (i.e. infrastructure, major institutions - legal, political, finance are all based in South East England) with perhaps a comparative analysis of Germany? The reason for this is the cancellation of HS2 to the North of England and its future consequences. Thanks. Also, affordable living in Berlin is very achievable as opposed to London where the emphasis isn't on home ownership but fair rents.
Enjoying your video's Gary. Finding your take interesting. I'm also from a working class background, though through education and graft am in a position of not having to worry about the basics. However, I don't have the bunce to set my kids up for life. I have 3, all studying stem subjects at good universities and so I'm shocked and angry that they are likely to enjoy a lower standard of living than I have. The drive for my politics is straightforward and has always been a support for policies that are in the genuine enlightened long-term interest of the working population. For the past 30+ years it seems the government consensus has been that wealth should not be taxed as it will just drive away the necessary wealth creators. You've now persuaded me that policies to tax the wealthy are essential to rebalance society, especially for the next generation. If Labour were to offer this, along with policies to sort out the housing market, which must include vastly lower levels of net migration (unless they can magic up 1M houses a year) then they will have my vote. The icing on the cake would be for those with a middle class obsession for identity politics to piss off back to their ancestral home - the Lib Dems, so that Labour can once again focus on championing the wishes and needs of working people.
Allow councils to borrow to build social housing.
When I was born it was a council house. About two years later my parents bought first house, (mid 70''s,) a new build.....even if they couldn't afford furniture (I remember donated furniture). But they built a home and great childhood.
Their jobs when they bought a house?
Care assistant and a PC that has to be possible again.
When Thatcher created right to buy she changed the way councils had to account for housing. She made them list housing as a liability, not an asset so councils couldn't use existing stock as leverage to build new houses and the funds from council house sales were not available either (can't remember if ring fenced or just robbed off by government).
New Labour built IIRC 6000 council houses the entire time they were in power.
Worse even than these Tories.
Just two cheeks of the same arse.
Social housing goes to what’s called the most in need , not people on the list with current living accommodation like parents houses . With a massive social home building policy it would still not satisfy demand and as happens now always goes to new immigrants who are technically homeless, not indigenous in temporary housing .
All my wealthy friends leverage their assets and rely on asset inflation to stay wealthy. All my regular friends sell whatever assets they have and stay poor.
I lost my house 10 years ago in a divorce - I have just finished paying off the mortgage... yay!
Pisses me right off that houses are no longer homes - they have been commoditised. If I hadn't been a maths geek I wouldn't have spotted the possibilities of BTC back before it was cool - thank fck for that. It's the only inflation-proof asset that a chump like me can access.
Wish I still had your energy to keep on fighting for the cause.
So yeah, keep on keeping on, brother!
Bitcoin (don't touch it- it only worked for early adopters)@@user-mw9bd2ey6s
Gary, We have huge corporations and individuals paying no tax. It’s plain wrong. We all know this. London is a Laundromat the rinsing capital. Would really like you to discuss how these complex systems could be exposed and changed so that this wealth is not allowed to be flushed in and out. And reorganised to trickle down into the real economy. Because from what you say it’s bankrupting us. Another issue I find alarming is on homeownership. An example being that so many Londoners have to live in Flats. Supply and ongoing demand. Now so many are being fleeced extortionately by Developers on unregulated service charges. And we are now seeing how many freeholders are registered in tax havens like Monaco. This has been blown out of all proportion in the last decade trapping many with huge costs. Service charges are now like second Mortgages. And Developers are still building substandard homes and donate to Political parties. This is a time-bomb of bankruptcy facing many, and no government is dealing with the root of this problem. Your views are always appreciated. On this would like your input on how you see this as a future problem in home ownership. Are Leaseholds now just a Scam?
Never mind Monaco, look little closer to home, like, right at home. The crown dependencies are 'possessions of the british crown' and allowed partial independence so that they can function as tax havens. The UK is the center of corruption.
My mother has experienced a nose dive into dementia at a rate described as ‘unprecedented’ by the consultant. Its breaking my parents hearts to have to be thinking about selling the house. My dad has said he will walk into the sea before he goes into a home and diverts our inheritance to care home owners. I want them to be looked after, but having just had a baby boy and working my arse off to be on track to be mortgage free before retirement, i know exactly what he means. The fees are mindboggling, you could perpetually be at an inclusive five star resort for the cost.
Brilliant work you're doing Gary - thank you!
"tax the rich", "axe the tax" and whatever else will not help. a decent solution would be ownership limits. because a person needs that much to have a decent life. most fulfilment comes from personal achievements, not from how many pounds, cars or houses you have(some people do but that is cancer of our society. it is rather direct comparison)
Quite agree but I bet if you said ok the limit to the amount one person should own in money and physical assets is say £100m because well why would anyone need any more than that. If you imposed a 100% tax on wealth above it there would still be uproar. I bet even people that have no where near that amount would still say no.
How would you enforce that?
How would it be introduced, would you strip everyone of their money over a certain threshold?
What happens for people who own a company worth more than the limit?
Where would the government get the money for social services without taxes coming in?
All the large business owners would simply leave the country, taking the jobs with them.
I don't understand how this would be superior to taxation.
@@thegrinderman1090 the same way we are doing things right now. :D it is not working :D humans are creative creatures :D societal indoctrination might help. Christianity and other religions tried to do that, but we know the result. and I actually doubt that there will ever be equality and fairness in human world. some people would *uck things up just to make it fun. matrix is and interesting idea in this regard, but we need something else to enforce same rules on all of us without exceptions. for now that's natures laws(which are not that moral to like them :D) but some are trying to meddle with them as well. we'll see where that brings us
What about moving everyone in together so the younger generation take care of the older generation all in the same house?
Hi Pobaett. I've seen a few CZcams videos of university/college students living in nursing homes (or something similar). It seems like a nice fit for some.
Did u see that TV show a few years ago where they put toddlers in a care home? The OAPs health improved tremendously
@@averyintelligence thats the natural way, kindergarden and oap homes are highly unatural and detrimental to life experience of the very young as well as the very old
A fantastic channel. I'm sharing the link with others.
You should be consulting the government and pushing for this in the education system. Great work, Gary, thank you.
Another interesting video. I guess the answer is to base taxation on assets and not income.
At its core the problem is the current FIAT system which enables governments to inflate and destroy currency hence reducing wealth as everything is measured by it.
Wouldn’t say that was the core but it’s significant. The core is nobody has any energy to change thing there’s no public animus.
Gary has previously mentioned QE has been shown on occasion to be successful and a useful tool rather than borrowing from the capital markets.
Thank you.
Hi Gary, great video. Do you have sources that would show this? Studies proving this with numbers?
When the first generations unable to afford to buy a home, enter retirement, won't the housing benefit bill eventually bankrupt the country? However, hearing about the bond market and how the UK will no longer be able to rely on UK pension funds to buy more government debt, I think that bankruptcy is coming a lot sooner.
To some extent, they already fudge the numbers on housing benefit. There is a figure that they say is based on the rents in the area. When I was on it, this figure was lower than the actual rent.
And UC claws back certain amounts depending on what you earn or have.
My expectation isn't that they go bankrupt, but that they redefine housing benefit numerous times until there's no promise of survival on it. There will be landlords who exist on taking that pittance for questionable living conditions, the government will turn a blind eye.
Also, at least one side of parliament would like to stop paying housing benefit completely.
Net migration is larger than the number of new homes.
Without any migration the population would be falling as the average woman has 1.5 children, below the replacement rate.
In my view net migration needs to be kept below 50,000 until we have built the infrastructure and homes to be able to cope with a higher population.
The problem with that is if we have an aging population that want or need to retire at some point we will need more young people to keep the economy going and contribute towards national insurance etc. The only way to do that would be through immigration
@@josephtodd2 you make the state pension sound like a pyramid scheme, gary says we can tax the rich more to fund what we need.
@@josephtodd2 That just pushes the problem down the line. What happens when the next generation is coming up to retirement and the population is 30% larger? You have the same problem, just at a bigger scale. Add in climate changes expected effects on agriculture and it's a recipe for disaster.
@@josephtodd2 You don't need population growth to achieve that, small amounts of immigration can maintain the population
Sovereign wealth fund or even better private pensions would be better. e.g. instead of paying NI you can invest the money how you see fit.
@@josephtodd2most of what you just said is made up, we do not need to keep the economy going we need a better economy!
I'm a huge fan of Gary and his message. It really resonates with me and makes total sense. Something I'd love him to put some more focus on is why the rich like to pile a lot of their wealth into housing. I think Gary's eyes would be widened if he looked at the recommendations being made by companies like Touchstone Education & Assets for Life (both have CZcams channels). The reason why rich people still buy housing with debt/mortgages is because 1) it makes your money go further and 2) you cannot currently tax on debt. So when those houses increase in value (capital gains) the landlords of those houses can re-mortgage the property at the higher price and pocket the difference tax free! Which is why they will hold on to property assets until they die or put them into trusts, so they can be passed on. They can also drive prices up through artificial scarcity. Have you noticed the boom in Serviced Accommodation in the staycation AirBnb market? This ultimately removes property stock from the market and the side effect of this is higher property prices due to lack of supply. Would love to see Gary's view on this if he were to research into it.
Spot on.
Hi Gary! Really love your videos. Could you do one outline your predictions for economic growth? Seen that you’ve said you think there will be deflation and a recession. I was wondering whether you’d be able to flesh that out more?
In ireland if you are a private landlord ,the tax on rental income is taxed in the same Manor as income earned through the tax system , a lot of landlord have sold ,as tax is too high ,now an acute shortage of rental properties
What? Rich people hanging on to land and leaving homes empty because, boo hoo, the taxes are too high so they would rather sit on them (and more to the point, can *afford* to sit on them) empty? And you want to blame who for this situation? Doesn’t sound like it’s the greedy rich… Although, in the olden days, people had squatters rights as part of a checks and balances to rich people pulling this kinda shit. However, unfortunately, neoliberalism (or whatever the f*ck euphemism you wanna use for greedy mofo motivation) has made that, if not outright illegal, then so very difficult as to be nigh on impossible…
One world, one love, no borders ✌🏾❣️
Crucially these houses being sold by small time landlords in Ireland are being bought it seems by wealthier concerns....driving the price up as we go
@@conormcelroy1898yes because Ireland is a tax haven and large entities can navigate the system to their benefit, more then ur man who’s granny left him the house
There's no easy solutions for housing. Landlords pay money down that makes more housing built. The problems is unsustainable immigration and lack of building.
@@nevermind824 Attlee built 1m new council houses.
How about we try that?
If he could do it when debt to GDP was 270%, it should be a piece of piss for us now.
You don't just need an inheritance or parents support you need a partner as well who also had an inheritance or parents who can support them.
Thank you for these videos. They are very clear and well explained.
Gary, your videos are very good, you must persevere and continue what you are doing, we need to bring awareness of the skewed system and inequality to the critical mass of society, we must change things, before things change us . . .
we need to organise more, . .
New to watching. I would offer two thoughts you may have covered at other times. Any solution which runs through tax and thus government must assume a government that is on your side. Governments tend overwhelmingly to be lobbied if not bought to work against your interest. Thus taxing to a solution is a poor direction to go. Here in the US 1971 was the year the dollar became completely unbacked by gold. Since 1971, assets values have risen in a parabolic fashion. Liabilities have not. Rich own assets, poor own liabilities. GLTU
This is why we're screwed. The two main parties (here and in the US) don't work for you. They work for the man.
The man owns the media too. And the education of economists and they own the Think Tanks and the central banks and well, anything that might threaten them.
They might be scum but they're not stupid.
There is the option for our parents to use the same tricks as the wealthy and put them into trusts which will prevent .gov taking it to pay for end of life care. There are certain rules around this but this is one way to ensure they can pass on their 'wealth' to the next generation. An idea worth exploring.
Love your no BS approach bro, these things needs saying, keep up the good work 👍
Another excellent video and explanation.
The world hasnt changed a great deal, however the institutions and systems we once took for granted are gone, the securities the state offered are gone, the expectations you had based on those securities and taken for granted assumptions are also gone. But little has actually changed in real terms. For poor ppl thst is. We still die at twice the rate of your aversge person. We still dont own property. We are still blamed for the worlds woes. Little changed.
The social contract has now been broken.
Hiya Gary
Excellent presentation, nailed it completely.
Residential property shouldn't be the vehicle for investment that it has become. The house I lived in in 1995 increased almost 10 fold in value, my income over the same period doubled. So that house is now 5 times more expensive. Governments need to look at measures to cap rents on residential property. Airbnb has contributed significantly to rent inflation also.
Gary. What are your thoughts on Universal Basic Income (UBI), combined with a complete tax system overhaul..... where the emphasis for HMRC's revenue could be shifted to Land Value Tax (LVT), as opposed to VaT (a tax on the poor), Income tax (a tax on the poor and production) and Corp tax (a tax on production). Abolishing the top 2 hundred forms of Tax relief alone (there are over 1,000), would yield HMRC enough to cover a basic income of £175 per person, per week for everyone in the UK..
Not everyone needs a ubi. It erodes the value of the welfare state. What we need to do is support thet, help and encourage it to grow and develop beyond simply 'hand ups and hand outs'.. ot should be the vehicle through which a leisure society is achieved.
Commie systems won’t be implemented yet.
Too many old farts and millionaire MP’s in the U.K. right now.
Maybe in 2 or 3 generations we may see a UBI.
Pilot schemes have already indicated their efficacy.
@@DJWESG1 UBI is a bad idea. You get an extra £100 a week, your landlord tacks £100 a week on your rent.
UBI would just be a subsidy for the super rich.
If you want a UBI you also need rent control and a price board to stop Tesco's tacking £100 a week on your shopping bill.
Hey Gary, I'm your parents age.. I don't have a property and not well off at all. That's not the point of my message here.. Something much more interesting: Please know, that as elderly people who are no longer able to look after themselves, this is one of the answers. If they get rid of their property and equity to their children, (I think maybe 7 years before - although please find out the year amount), the local council will have no choice to 'home' them and the council would fully pay for the extortionate costs for care homes. (Wink) .. I'm in a lucky position as I am completely healthy and no medications of any sort have yet passed my lips. I love what you're doing Gary and look forward to seeing your progress over the next several years. Don't leave all of us more mature people out who also are with you. Much love 🥰
Thank you, Gary , for sharing your valuable knowledge and insights. Politics, economy and social dynamics are intertwined. We live in a culture that is celebrating individualism. It is not family or children friendly, nor community -oriented. If it is - would seniors need to pay for the care? Living together multigenerationally could be a hell or a gift. If dominant culture is shaping us with "Me, myself and I" values, entitlement and attitude, living with parents and grandparents as an adult would be a hell by default. If we are thaught empathy, kindness and solidarity I imagine we would stick together and even enjoy it as it is known to be the case in more than one culture. Joint resources over the time may even increase the wealth. I do beleive that rich/corporations should be taxed more but I am not holding my breath that this may actualy happen. Changing our relationships, learning how to strenghten and keep the family, finding and cultivating "a tribe", building communities with the housing as a major incentive to start with, and discovering the finer, more noble benefits to keep us human and connected may be easier to achieve. To me, it's a common sense. I sometimes feel that this alienating culture that venerates individualism and self-interest is imposed on us by design. It's not how we had evolved. We are social animals and as speices we have successfuly envolved backed up or within functional social units; coupledom, family, tribe, community. An average middle class divorce so often cripples prosperity and wellbeing of children. Disapearance of public spaces and events in new urban settings , lack of free (social) time, affect communal cohesion and make neighbourhoods often unsafe. I believe that middle class in Western countries should start to learn how to live together again, how to care for others at least as much as we do for ourselves. Like, for real.... We are where we are exactly because somebody had convinced us that one is entitled to much more and that is Ok to not care for people around. My two cents worth. All the best!
Had to subscribe.your an interesting bloke with a lot of common sense.
Kept the content coming
Most people will never loose their house. Most people dont have a house to loose.
We lost our council homes many years ago Gary!
And extrapolate this to the third or fourth generation and you get a sort of feudal society; hardly anyone owns anything and the owners want you to stay put for convenience sake.
Gary could you please tell us why the energy prices keep going up? Thank you very much
Love your work Gary, spot on!
A HUGE part of the problem with this. Is the wrecking of the family unit.
The way this used to work is that when parents/ grandparents got to a certain age. They would sell up And move in with the kids.
This wasn’t just financially a good move. Socially it provides the parents with an extra set of eyes and ears to support the children and passing on the knowledge and wisdom of their lives.
It was the nuclear family that destroyed the multigenerational household. Just staying.
I think it might be useful to show how much the 1% tax on the 10m+ "SuperRich" Tax will deliver Gary?
In fact calling it a "SuperRich Tax" might be a bit smart?
With the SRT tax revenues going into National Re-Structure Funds = Health, Housing, Education, Highways...
Hey? I wonder what the revenues from 1.5% SuperRich Tax on those with £50m...? ;-}
= Deficit busting levels in 3 years..?
Keep up your Good Works Gary. 💪
You are a good Brit 👍and credit to your parents.
😊❤
Hedge funds usually pay the rich around 10% pa
@@Jay...777 Gary has the 1% in mind. As a starter i suspect.
The 0.001% is where the real wealth is so tax to the max. 1% is a large group that could be taxed a bit more@@kimberleyaxxxx934
Can't wait to hear you on Full Disclosure.
Thanks Gary.
I don't know if this is viable, but what about enforcing a limit on how many properties a company, person or family can own?
You say As rich get richer, they buy more assets. Limits would stop that.
Take away their money and they won’t buy the assets!
We all know it would be viable but well you know, where do some of those property owning classes do their part time day job 😉
We need more *public inheritance.*
People accept the idea of *private inheritance* as legit but public inheritance gets reframed to as welfare which in term becomes a slur word only marginally less offensive than a certain word referenced by the phrase see you next Tuesday.
As many of our current overlords have software connections I rather like repurposing a couple of programming terms.
Perhaps private landlords should be required to sell their properties to their occupants with a discount somewhat like councils were compelled to do by the blessed Magrat.
I never say I'm on benefits/UC. I tell people I'm employed by the government. Same thing. I mean they pay me to be sick. I see that as a job and In good at my job
@@averyintelligence👏🏻👏🏻👏🏻
My goodness Gary you’re so right. We have a very decent home (we’re retired) and want to give some money towards our kids’ despair for a mortgage. At the moment it feels very difficult. They are all renting their homes and at the moment only one of them looks like being able to afford a home.
Hi Gary thanks for this insight. I’m knocking on for 70 and want to do what I can for my kids so thinking of putting my one bedroomed house into trust should I?
Investing in alternate income streams should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
This video got me hooked, and now I’m determined to become a billionaire in just two years! 💪💰
That's great! I'm motivated too! How can we achieve this challenge?
No specific one really, because there are lots of investment plans and strategies littered all over the internet today, for instance, investments like real estates,gold, drop shipping crypto currency and lots more
I've heard alot about crypto currency investments and how effective it can grow your income! Any recommendations on a guide?
Her availability is open on face b o o k
I going to get kicked out of my Council House and the Council are going to sell the house to the rich.
I’m screwed and scared!☹️😱
Is there no Buy Your Own Council house scheme in your country/borough? Used there be? Is anyone on the case to get one organized/bring it back?
Is this a joke? Because that is actually happening. My council sold off tower blocks and the land to Private developers to raise money to cover their debts. It was their newest building stock. The purchasers knocked down the houses and flats, and built private houses for sale.
The joke is, the Council hadn't repaid the mortgages they took out to pay to build those homes. You are talking about high quality blocks, with gas and, that weren't jerry built during the corruption, earlier around the time of their building. They made developers richer, and lost money on the deal. That's part of the history of local councils going bankrupt.
They started employing big private companies and accounting firms to run their operations. And guess what? Everything went to hell in a hand cart, but the private sector got richer.
Who would have guessed? the private sector getting rich off poor people in the UK? Predatory Capitalism at it's finest, and not for the first time.
You aren't old enough to remember, or educated enough to know from this comment. Perhaps that's why this country is getting worse. Not enough people remember, or think it won't happen to them. But if it's happening to the people at the bottom, the appetite for more profit means that once they run out of the low fruit, they will have enough money to force private housing to be sold to them.
Buy a Camper Van now you can live on a Campsite cheap with electric hookup and showers beats living on the streets
Love the content, Gary. I'm studying a degree in economics and maths and your talks not only cement what I'm being taught, they go steps further provoking thought. Looking forward to watching more 👀
wow, just discovered this geez: got a feeling i’m gonna be learning some stuff.