Legal & General plans to become large-scale landlord

CLAPTON

reading the BBC article it doesn't really say much about new building but they plan to

Legal & General plans to invest £15bn in housing, education, energy and transport over the next ten years.

so that's 1.5bn per year over housing , education, energy and transport out of a current portfolio of 433bn

They already have quite a considerable property portfolio which they basically simply let out for others to manage
so they own student accommodation but simply let it to the Uni to manage.

And of course 'invest' doesn't mean 'build'.

Interesting I can't find anything about any of this on their corporate website.

So one might conclude that BTLers are safe for at least for foreseeable future

Loughton_Monkey

IveSeenTheLight wrote: »

you don't recognize sarcasm then Graham.

Do keep up.

Nor Irony, Satire, or Banter....

Do look it up in the dictionary, Graham. You'll find it between "Sap" and "Sardonic".

Jack_Johnson_the_acorn

Loughton_Monkey wrote: »

Nor Irony, Satire, or Banter....

Do look it up in the dictionary, Graham. You'll find it between "Sap" and "Sardonic".

You cheeky monkey, he'll accuse you of being a sock puppet if you're not careful.

ruggedtoast

CLAPTON wrote: »

I have already welcomed any increase in new building.

There are some that welcome large corporations but despise small business people. I don't share that view.

However we will see in due course how it all pans out and how many are actually built and how they are managed and how much subsidy they seek.

And yes the reference to 'intergenerational injustice' is almost unbelievable coming from L&G.
Hopefully the idiot will be encouraged to seek new challenges outside the company.

Apparently the idiot is the head of the company. As you are rarely shy of explaining that the only way that people end up in positions of privilege, advantage, wealth and success is through diligence, enormous sacrifice and hard work; so I suppose we will have to assume he knows what he is talking about.

Does it ever trouble you that maybe all the reports about inter-generational injustice on the internet, printed newspapers, television, books, prominent public people et al may just occur because there is inter-generational injustice?

Or do you just generally assume it's a shadowy, but extraordinarily well coordinated and multifarious conspiracy against boomers to be ignored? (Even though a lot of boomers are worried about it too, not you of course)

Edit:


Nigel Wilson, Head of Legal and General and successful boomer so appalled at exploitation of the young by fellow boomers he is bringing his giant financial company to their aid

Loughton_Monkey

Jack_Johnson_the_acorn wrote: »

You cheeky monkey, he'll accuse you of being a sock puppet if you're not careful.

I have already admitted being Hamish's sock puppet. Bang to rights the noo.

Better than being a suck poppet.

CLAPTON

ruggedtoast wrote: »

Apparently the idiot is the head of the company. As you are rarely shy of explaining that the only way that people end up in positions of privilege, advantage, wealth and success is through diligence, enormous sacrifice and hard work; so I suppose we will have to assume he knows what he is talking about.

Does it ever trouble you that maybe all the reports about inter-generational injustice on the internet, printed newspapers, television, books, prominent public people et al may just occur because there is inter-generational injustice?

Or do you just generally assume it's a shadowy, but extraordinarily well coordinated and multifarious conspiracy against boomers to be ignored? (Even though a lot of boomers are worried about it too, not you of course)

Edit:


Nigel Wilson, Head of Legal and General and successful boomer so appalled at exploitation of the young by fellow boomers he is bringing his giant financial company to their aid

I can't recall a single post of mine that would lead anyone to believe that I think people in power have any good qualities at all.

Having had a brief look at the website I would say he fits my profiling rather well.

Maybe you could have a look and see how he is bringing his massive financial firepower to help the young:

L&G do own several Uni halls of residence which they lease back to the Uni ... is that what you mean?
(I'm sure the Uni will come to regret selling their silver and like PFI it will be seen as a mistake.

If there are problems that need solving then creating dissent, division, hatred and anger are likely to be ineffectual.

Better to have a rational discussion about what the problems are and about possible solutions.

Anyway I am glad that you have found a boomer soul mate to love and admire.


In love and peace

Thrugelmir

CLAPTON wrote: »

So one might conclude that BTLers are safe for at least for foreseeable future

LG bought a 45% stake in Cala Homes from Lloyds earlier in the year. So the direction of travel is obvious. Cut out the middle man. Fund and build your own developments.

CLAPTON

Thrugelmir wrote: »

LG bought a 45% stake in Cala Homes from Lloyds earlier in the year. So the direction of travel is obvious. Cut out the middle man. Fund and build your own developments.

L&G hold stakes in a wide range of industries and companies.

I would see this as dealing through a middle man.

As I've already posted L&G own several University accommodation blocks but they simply lease them back to the Unis.


Maybe L&G are funnelling new money into building new houses: if so then new builds is good news but I would rather wait and see.

Graham_Devon

There appears to be a need to find a sinister motive in this?

Everyone, including you clapton, have been saying this is what's needed to bring prices down. Now it looks as if someone is planning to do it, you are looking for anything, guessing even, to suggest it's a bad thing?

Thrugelmir

CLAPTON wrote: »

I would see this as dealing through a middle man.

On the scale L&G intend to operate. Creating your own end to end supply chain makes financial sense.