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Falling house prices are saving marriages
Property group Savills says there is a strong correlation between changes in house prices and the number of divorces in England and Wales as falling prices makes divorce less affordable. They seem to have a point as the Office of National Statistics reports that the divorce rate in England and Wales is at a 26-year low, with 11.9 divorcing people for every 1,000 of the married population.
Nowadays, couples are more likely to divorce at a higher age, so that there is more equity involved in the split. "The seven year itch is becoming the 20 to 25 year itch," said Lucian Cook, director of research at Savills. "They are couples who have climbed the housing ladder and, having generated significant equity, divide it between them when they separate." As a result, they could be more likely to stall on divorcing and selling up, or could be waiting for prices to fall further before buying smaller properties separately.
But other surveys suggest that the economic downturn could affect marriages among those working in the City. A poll commissioned by law firm Mishcon de Reya earlier this year suggested that a fifth of stockbrokers, hedge fund managers and analysts knew a colleague who had been issued with divorce proceedings since the downturn began. Property group Savills says there is a strong correlation between changes in house prices and the number of divorces in England and Wa... more -
Stamp duty gets stamped out
Thinking of getting your first footing on the property ladder? Well things might be looking up after our lovely government has announced a drastic cut in stamp duty, free loans for first-time buyers and specific help for those earning less than 60k a year.
After continuous declines in house prices, the government has axed stamp duty (in the first year) on any property below £175,000, meaning someone buying a new house for £174,000 will net a tidy £1,740. Thinking of getting your first footing on the property ladder? Well things might be looking up after our lovely government has announc... more -
Credit crunch: leaked letter to Gordon Brown admits rise in crime & terrorism ...
A leaked letter from the Home Office to Gordon Brown admits the ailing economy is about to fuel a rise in extremism and crime.
The document outlines how people becoming poorer will fuel resentment of immigrants as job competition stiffens.
The letter states: "There is a risk of a downturn increasing the appeal of far-right extremism and racism, which presents a threat as there is evidence that grievances based on experiencing racism are one of the factors that can lead to people becoming terrorists."
The leaked dossier also sets out the potential for an increase in violent offences caused by the credit crunch and soaring food prices.
Although data for last year showed crime falling by 10% overall, they pointed out that during the 1992 slump violent crime rose by 19%.
Particular "upward pressure" would be exerted on levels of property crime, such as burglary and car break-ins.
Police forces may have to protect finances by holding back parts of their budgets.
This could leave them facing "difficult decisions over officer numbers and priorities".
Furthermore, falling revenue from visa applications will also put activities at the Border Agency "under pressure".
Smuggling and illegal working is expected to rise as employers seek to "save costs".
Officials at the department examined previous periods of negative economic growth to come to their conclusions.
The Home Office is due to deliver the stark assessment to Gordon Brown amid fears that Britain is heading for recession.
The Tories said the document demonstrated that ministers had been "complacent".
A Home Office spokesman said: "It is... appropriate that the Home Office considers the effects the economic climate may have on crime and other policy areas.
"We are confident that we have the right systems in place to respond." A leaked letter from the Home Office to Gordon Brown admits the ailing economy is about to fuel a rise in extremism and crime. ... more -
Women and property are the cause of male agression
The reason why aggressive men tend to get the girl has been found by scientists. The hunger for women, along with property, are blamed for the evolution of belligerence and bravery by a study of the mathematics of warfare.
Today's research chimes with the findings of earlier genetic studies that revealed an estimated 16 million men today, plus an uncounted number of women, are the direct descendants of Genghis Khan, the 13th century Mongolian warlord who carved out a vast empire.
Other work has shown Viking genetic signature from the frontiers of their empire, such as the Scottish Western Isles, the Isle of Skye and Iceland, which fits the popular image of male invaders who took local wives. And studies of chimpanzees suggest that the urge to go to war is lies in our genes.
Now a Californian team has studied the evolutionary forces that shaped the need for males to be belligerent, which raises their probability of trying to conquer neighbours, and of bravery, which increases the probability of succeeding in conquest.
The mathematical analysis of the evolution war by Laurent Lehmann and Prof Marc Feldman of Stanford University focused on small-scale, pre-state societies, for instance hunter-gatherers societies.
In the Proceedings of the Royal Society, Biological Sciences, the study shows that the "selective pressure" on genes linked with belligerence and bravery can be substantial even in groups of large size, so that evolution has smiled on the most aggressive and audacious group.
When scientists refer to selective pressure they mean to the extent to which a population of individuals (or ancestor for instance) may acquire either a beneficial genetic or cultural trait that gave them an advantage and therefore made that group more likely to survive and multiply; or lost a trait that makes that group do something that makes them more likely to become extinct.
This pressure is substantially driven by the benefits of conquest that also accrue on the relatives of the belligerent and/or brave males within their group, showing how the spoils of war are shared by those who are related.
They add that bravery and belligerence may be driven by two independent type of "resources" that may boost the ability of a gene to be passed to future generations: additional mates for males to have more children by and additional territory (or material resources) for females, so they are more successful at bringing up the next generation of warriors.
The team points out that "hunter-gatherer societies are well-known to have frequently raided neighbouring groups from whom they appropriated territory, goods and women." The reason why aggressive men tend to get the girl has been found by scientists. The hunger for women, along with property, are blamed... more -
Metallica fence has heavy impact in Marin
James Hetfield co-founded the influential heavy metal band Metallica and, as its chief songwriter, helped pen and perform strident songs such as "Don't Tread on Me." It might as well be his anthem for property rights in Marin County.
The Marin County resident has erected a barbed-wire fence on his property near San Rafael, cutting off a fire trail that locals say has been used for at least a half century to access treasured hiking trails along scenic ridgelines.
Hetfield's representatives have told county officials that the metal and barbed-wire fence is a response to vandalism on the property. Nonetheless, the decision has infuriated the bikers, hikers and equestrians who use the trail. Some locals say it also threatens a century-old county tradition of property owners giving public access to open space.
Supervisor Kinsey said the county has negotiated several agreements with property owners to allow access for the public. Kinsey cited Hetfield's neighbor George Lucas as one such example.
Messages left with Hetfield's manager, his band's record label (Warner Bros. Records) and his contractor (Redhorse Constructors Inc.) were not successful in getting a comment. James Hetfield co-founded the influential heavy metal band Metallica and, as its chief songwriter, helped pen and perform strident son... more -
Things will get worse: you can bet the house on it
Behind Mervyn King's warning and government dithering, a host of factors suggest that the property crash will be with us for a long time - and could have far-reaching effects.
Nav Sharma is listening, downcast, to the sound of silence. At the once-bustling Ruxton's estate agency in Solihull, a suburb on the southern outskirts of Birmingham, househunters have all but disappeared.
'Have you heard one phone ring since you've been in here?' the agency's senior partner asks repeatedly. 'Most agents have written this year off. I have never seen a downturn like it and I have been in this business for 25 years.' Prices have already dropped by 5 to 10 per cent, he says, as buyers pull out of chains.
He blames Gordon Brown for the housing squeeze which is hitting this relatively affluent suburb. 'The government has been shockingly incompetent, they have pulled the rug from under our feet, they should start showing some leadership.' He adds that perceived hesitation over a proposed stamp duty 'holiday' is a making a bad situation worse.
'Their dithering has led to chains collapsing. All we need is stability. The bottom has fallen out of this market.' He says mortgage applications are taking twice as long as usual, compounding the problem.
Elaine Brookes, Sharma's colleague, interjects plaintively: 'Can you please go and knock on Number 10 and ask them to give us some help?'.
This sorry tale is being repeated up and down the country as the property boom which began to gather pace in the mid-1990s, and more than tripled house prices in a decade, turns to bust. The estate agents on the front line of the slowdown may not be among the best-loved professionals, but the fallout is likely to spread far beyond them. As homeowners everywhere rethink how much their property may be worth, spending patterns are being reined in, and buy-to-let entrepreneurs have their calculators out. Behind Mervyn King's warning and government dithering, a host of factors suggest that the property crash will be with us for a lo... more -
Toilet block sells for £35,000: so much for the credit crisis?
A derelict public toilet has defied the downturn in the housing market to sell for £34,500.
The single-storey, breeze-block building attracted interest from first-time buyers reportedly seeking a foothold on the property market.
Auctioneers said the purchase would allow the new owners to "let their imagination explore further possibilities".
The conveniences, in Bath, Somerset, were listed with a guide price of £10,000 but, after an intense period of bidding, the hammer eventually came down at £34,500.
The block is close to a row of shops and within a five-minute walk of the city centre.
A spokeswoman for auctioneers Breach Wood Ingram said: "Interest was particularly high in this sale.
"This was a rare opportunity in a stunning location and a truly unique chance to acquire a plot of land in a very sought-after area."
Is this the only kind of property most people could afford to buy these days? Have you seen property prices changing where you are, or been affected by rising or falling house values, whether you own or rent? And if you owned a toilet block, what exactly would you do with it? A derelict public toilet has defied the downturn in the housing market to sell for £34,500. ... more -
Market town houses cost more
Homes in two-thirds of English market towns sell for more than those in neighbouring towns in the same county, according to Britain's biggest mortgage lender Halifax.
House price growth has also been faster in many market towns, with just over half of the 112 towns recording price rises of more than the 55% seen across England as a whole during the past five years. Homes in two-thirds of English market towns sell for more than those in neighbouring towns in the same county, according to Britain�... more -
Happy birthday Haiti: 'Robin Hood' millionaire shows his birthday guests...
American property tycoon Frank McKinney showed the world just how the super-rich *should* behave when he surprised guests at his 45th birthday party by taking them to the slums of Haiti to see how the other half lives.
He first took party guests on an extravagant tour of his latest construction — a $29 million (£15 million) building in Manalapan, Florida, with glass staircases, fish swimming in the ceiling, indoor waterfalls and two wine cellars, one for red and one for white — followed by dinner and champagne at his beachfront estate near by.
But there was barely time for the maverick millionaire’s 55 guests to sleep off their hangovers before they were whisked away for the next phase of his $5,000-a-ticket birthday experience — a sobering trip to the festering slums of Haiti.
The Tour of Extremes took them from Florida’s Palm Beach County — among the nation’s wealthiest communities — to Cité Soleil, the poorest suburb of the poorest city in the western hemisphere’s poorest country.
There, McKinney has built more than 500 homes for 4,000 people living in abject poverty through his charity, the Caring House Project Foundation. His guests’ ticket money will fund the construction of 55 more houses.
“It’s not everyone’s idea of a birthday, but it is mine,” he told The Times. “I’m a modern-day Robin Hood. Here I am providing property to the world’s most wealthy; should I not be providing it to the world’s poorest and homeless too?”
Doesn't this restore your faith in humankind a little? It just goes to show, the super-rich don't have to be super-aresholes. Hooray! American property tycoon Frank McKinney showed the world just how the super-rich *should* behave when he surprised guests at his 45th ... more -
Micro-compact green homes: the future for young people?
Architect Richard Horden has designed a village of seven tiny, prefabricated homes, called "m-ch" (micro-compact home), for students at the University of Munich, the Guardian reports.
And now the homes are now heading to the UK - the Irwell Valley Housing Association is building six in Manchester to provide temporary accommodation for key workers, and a private client in London has made a planning application to build one on their land. And one is about to go on show at the Museum of Modern Art in New York, as part of an exhibition on contemporary living.
Each m-ch is just 2.6m sq - the size of an average living room - but has two pull-down beds, toilet (with pull-across screen), shower, table with seating for four, bookshelves and a kitchen area with sink, two-ring cooking hob, microwave, fridge, freezer and cupboards.
The homes are energy efficient, too. "Our aim is to be carbon neutral, using solar panels," says Horden, a partner at UK practice Horden Cherry Lee architects. "With all the fixed lights on, you are using the same energy as a single 80w bulb."
Each unit costs around £26,000.
As the credit crunch hits, could this be a solution for young people without the capital to buy their own standard-size home? Could live in a mirco-compact home like this? And if so, where the bloody hell would you put it? Architect Richard Horden has designed a village of seven tiny, prefabricated homes, called "m-ch" (micro-compact home), for ... more -
£80,000 home now worth £1
A Mother of three bought the Norfolk home in 1987 for £20,000, the house grew in value to around £80,000 based on the prices of houses of a similar size. At the time of purchase the house was 400 meters from the sea and now 20 years later, the house is just 60m from the sea thanks to 'chronic costal erosion'.
"We were angry and frustrated when we were told it was worth £1" said Ms Archer. "It is so unfair, because when we came here the policy was to maintain the defences".
If anyone has 50pence, do you want to go halves? We can live it up for a few years before the big crumble... A Mother of three bought the Norfolk home in 1987 for £20,000, the house grew in value to around £80,000 based on the prices of houses... more -
Overseas Property Design
A short film shot in Spain highlighting an overseas property company's in house design.
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The best way to sell a house? Tidy up? Brew fresh coffee? Hide mum's corpse i...
An estate agent is recovering from shock after he showed a group of viewers round a house - and found a dead body inside a wardrobe. The 48-year-old owner had put the detached house on the market for £350,000 after his elderly mother died. An estate agent is recovering from shock after he showed a group of viewers round a house - and found a dead body inside a wardrobe. T... more
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REDEVELOPMENT: A tale of two cities. Eminent Domain Abuse.
"Reason.tv host Drew Carey revisits the problem of eminent domain abuse following up on his earlier video, National City: Eminent Domain Gone Wild.
The City of Los Angeles used eminent domain to take a popular Hollywood bar and numerous other small businesses so that the city could hand the land over to private developers planning to build a W hotel and million-dollar condos. Fortunately, there's a better way to revitalize neighborhoods. In contrast to Hollywood, Mayor Curt Pringle of nearby Anaheim has found a way to encourage redevelopment by working cooperatively with property owners, without using the power of eminent domain."
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The Drew Carey Project "Reason.tv host Drew Carey revisits the problem of eminent domain abuse following up on his earlier video, National City: Eminent... more -
The Seegers Family Edifice Venture. (The History and Beginning)
The Seegers Family Edifice Venture is a documentary of a family that is turning an old church camp activities center into their future home. One of their goals is to show practical construction methods that will turn this building into an efficient green dwelling.
The History & Beginning is the first webisode of The Seegers Family Edifice Venture. In this episode you will meet the Seegers family, see us close on the building, learn its history and see the new roof go on. You’ll also get a tour of the building with an explanation of how they plan to renovate it. The Seegers Family Edifice Venture is a documentary of a family that is turning an old church camp activities center into their future... more -
Cowell buys former hostel for the blind, Burmese
Simon Cowell has reportedly splashed out £40 million on a new home in west London. Work is currently being carried out on the property and construction has already begun on a large underground extension. It will include an underground swimming pool, a mini spa, Jacuzzi and a car park.
And maybe a room of mirrors, like in Enter The Dragon, where Cowell can hold the finals of his ultimate fighting championships. Simon Cowell has reportedly splashed out £40 million on a new home in west London. Work is currently being carried out on the property... more -
Now we know where our $3.00 or more per gallon of gas is going, hmmm.....
Check out the photographic history of Dubai. Some of the images are done in CGI but they are taken from the images created by the Architects and Designers of this new mecca of Capitalism.
Dubai is the new Mecca.... Check out the photographic history of Dubai. Some of the images are done in CGI but they are taken from the images created by the Arch... more -
12.8 acres of Chelsea sells for £959 million
The Candy brothers, the youthful property magnates who develop homes for the super-rich, have completed the deal to buy 12.8 prime acres of Chelsea for a record £959 million, more than three times the amount estimated when the land was put up for sale by the Ministry of Defence.
The deal for the Chelsea Barracks site, struck in partnership with the Qatari Government, is thought be a British record for a residential plot. The Candy brothers, the youthful property magnates who develop homes for the super-rich, have completed the deal to buy 12.8 prime acr... more -
Man Refuses To Sell £60k House That's Now Worth £10 Million
'They could offer me £50million, but I won't change my mind. My granddaughters love coming on holiday here. They'd kill me if I sold up,' said the 86-year-old about his home of the last 35 years. 'They could offer me £50million, but I won't change my mind. My granddaughters love coming on holiday here. They'd kill... more
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Israeli Billionaire Buys UK's Most Expensive New Home
Lev Leviev, an Israeli diamond billionaire, has bought the most expensive new property ever sold in Britain for 35 million quid.
The house features a gym, sauna, ballroom and cinema, a private hair salon and a one-tonne bathroom basin carved from a single piece of white Iranian onyx. And a bullet-proof front door. Lev Leviev, an Israeli diamond billionaire, has bought the most expensive new property ever sold in Britain for 35 million quid. ... more
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