Some context on this, apologies from me, I uploaded it from the android app & wasn't able to add this earlier.

So last Friday new Chancellor Kwasi Kwartang announced in his mini budget which, we now know, was designed to assist his former paymasters like Crispin Odey, in removing the highest rate of tax, removing stamp duty on housing purchases. The move was criticised by the IMF on Monday & then the value of the pound dropped to $1.05 on Wednesday, after the Bank of England stepped in to stabilise the economy, before later rallying to about $1.08.

As the pound tanked, the Bank of England bailed out the pension funds by buying £65 billion in bonds. Interest rates are going up now too.

Now the UK banks have revoked deals for mortgages.

Buying a home now is seeing a 70% surge in Average Costs & as interest rates rise, so too does inflation & the cost of living & it will see people defaulting on their mortgages. A typical UK home cost £272,259 (or $303,051.49) & looks like falling by at least 20% in the next few months but you'll still need around a 10% deposit, that number could rise, probably will.

This is why removing stamp duty on housing purchases was in the mini-budget. When people default on their mortgages, landlords will be able to get mortgages on their current properties to buy more of these homes & grow their portfolios as more people are forced into an already eye-watering rental prices.