Mortgage misery: The homeowners facing repossession

[sleepwello'nights]

2 hours ago, Cunning Plan said:

One question I have always wanted to ask the 118ers - who are always banging on about if their costs increase, they must put the rent up to cover it (innit).

How much did they reduce rents by when interest rates fell to almost nothing overnight?

You ran a business didn't you. If there was a demand for your product/service that enabled you to retain the price you sold it for and your input costs reduced did you reduce the price of your product/service because you thought it would be unfair to make a higher profit?

I once had a contract with a company that had MOD contracts, cost plus. I know for a fact that when their input prices dropped their selling prices didn't. And strangely a lot of costs were incurred on MOD contracts that you wouldn't think were related to them. Strange eh?

Also strangely enough I quite liked the increase in profit. I must be a bad person 

BTW I'm not a 118er, although I have looked at their site on one or two occasions in the past. 

[Wight Flight]

8 minutes ago, sleepwello'nights said:

You ran a business didn't you. If there was a demand for your product/service that enabled you to retain the price you sold it for and your input costs reduced did you reduce the price of your product/service because you thought it would be unfair to make a higher profit?

I once had a contract with a company that had MOD contracts, cost plus. I know for a fact that when their input prices dropped their selling prices didn't. And strangely a lot of costs were incurred on MOD contracts that you wouldn't think were related to them. Strange eh?

Also strangely enough I quite liked the increase in profit. I must be a bad person 

BTW I'm not a 118er, although I have looked at their site on one or two occasions in the past. 

Well yes, that is the point.

One of my main costs is paper. If that goes down in price, I can guarantee one of my competitors will drop their price and I will have to follow suit.

You can either work on a cost plus basis or a market price basis. It seems that landlords work on a cost plus if prices go up, but as a cartel like a market price when costs are falling.

Sadly, with renterism, the customer loses either way.

BTW I am now selling print for less that I could 10 years ago - market price has seen to that and I have had to increase my efficiency and reduce my margins to remain competitive.  That is because there is no interference in my market.

BTW none of this is aimed at you as a person.

[Band]

42 minutes ago, Option5 said:

History, can't change it so why get bitter? They just got lucky, they could have ( and still could be) in trouble if things change. These things are cyclic, I know people who ended up in negative equity last property crash, wish they had never bought.

I will admit that I rent by choice, I tend to work 2-4 year contracts so just rent somewhere close to where I'm working.

No commute, no estate agents fees, no moving expenses (well apart from a days van hire). I can move if I don't like the neighbors, don't like the job, don't like the landlord (which has never happened, must be lucky). I also don't get stuck with something that doesn't sell, have to deal with beuracracy, worry about repairs, etc. etc.

Love your use of the word bitter, instead of responding to what i actually wrote about QE ZIRP etc being a free handout, well done.

So what you are saying is if someone is unhappy about the rigged banking/land system in the UK and they are on the losing side they should STFU and rent or otherwise they're bitter.

Maybe people should STFU about all inequality and injustice or be labelled as bitter.

Sleepy is a twat here to get a reaction and i was happy to call him out on it, if some boomer landlord was to say that to me in person after an 11 hour shift to work harder and get a better job they'd get a far harsher response.

As stated he was the one starting by telling me to fuck off, then he becomes a victim when I respond in kind.

 

 

 

[Option5]

1 minute ago, Banned said:

Love your use of the word bitter.

So what you are saying is if someone is unhappy about the rigged banking/land system in the UK and they are on the losing side they should STFU and rent or otherwise they're bitter.

Maybe people should STFU about all inequality and injustice or be labelled as bitter.

Sleepy is a twat here to get a reaction and i was happy to call him out on it, if some boomer landlord was to say that to me in person after an 11 hour shift to work harder and get a better job they'd get a far harsher response.

As stted he was the one starting by telling me to fuck off, then he becomes a victim when I tell him exactly how it is.

My reference to bitter was that feeling angry but powerless does you more harm than your target. If he/she is what you think they'll be winding you up for fun and winning. If they're not they'll be pissed off with you, nobody wins all lose.

Far from 'STFU' about the subjects you mention you should make your point. However resorting to vitriol and name calling (no matter who started it) only undermines your credibility.

Making your point nicely but forcefully works far better, ask Jacob Rees Mogg.

 

[sleepwello'nights]

32 minutes ago, Cunning Plan said:

Well yes, that is the point.

One of my main costs is paper. If that goes down in price, I can guarantee one of my competitors will drop their price and I will have to follow suit.

 

That's competition. I've dropped the rent I was asking when I had an empty house. I think it was back in 2009/10. There was a glut of rental properties at the time. I got in touch with the housing department of my local authority and they found two sets of tenants. Both were the worst tenants I've ever had. One was scamming the DWP, we found out that she was receiving about £28k per annum in benefits, paid into her UK bank account. It was being withdrawn in $50 and $100 increments from a cash machine in Ghana! The other, a single mother, moved her boyfriend and his dog in. The neighbours later said it was like Beirut when they were living there, constant shouting and fighting often in the street. Fortunately neither pair didn't stay very long. The DWP scammer vanished after 2 weeks and I didn't renew the tenancy for the single mother. I thought it best for the sanity of her neighbours.

Back to my question though if there was inelasticity of demand and no competition would you drop your price because your input costs fell? 

[sleepwello'nights]

7 minutes ago, Option5 said:

My reference to bitter was that feeling angry but powerless does you more harm than your target. If he/she is what you think they'll be winding you up for fun and winning. If they're not they'll be pissed off with you, nobody wins all lose.

Far from 'STFU' about the subjects you mention you should make your point. However resorting to vitriol and name calling (no matter who started it) only undermines your credibility.

Making your point nicely but forcefully works far better, ask Jacob Rees Mogg.

 

Its so easy to resort to name calling though, I often do it, but under my breath with a smile. Just for the record I wasn't trolling, although I suspected Banned would get wound up. I stated my case in accordance with the views I hold. If you disagree with my views fine, I can live with that.

To be honest though in the subsequent discussion with Goldbug I was running out of arguments and that's why I resorted to batting back the criticisms levelled at me on other types of investment. I think its one of the reasons in my early career that I would be one of the top performing salespersons in my retail jobs. I could empathise with the customer, makes debating difficult though.

 

[Option5]

Has everyone calmed down now?

[leonardratso]

is that fergus?

[Wight Flight]

30 minutes ago, sleepwello'nights said:

That's competition. I've dropped the rent I was asking when I had an empty house. I think it was back in 2009/10. There was a glut of rental properties at the time. I got in touch with the housing department of my local authority and they found two sets of tenants. Both were the worst tenants I've ever had. One was scamming the DWP, we found out that she was receiving about £28k per annum in benefits, paid into her UK bank account. It was being withdrawn in $50 and $100 increments from a cash machine in Ghana! The other, a single mother, moved her boyfriend and his dog in. The neighbours later said it was like Beirut when they were living there, constant shouting and fighting often in the street. Fortunately neither pair didn't stay very long. The DWP scammer vanished after 2 weeks and I didn't renew the tenancy for the single mother. I thought it best for the sanity of her neighbours.

Back to my question though if there was inelasticity of demand and no competition would you drop your price because your input costs fell? 

To answer your question. I have no idea. Because, apart from renterism, there is always competition.

We even have a government department to ensure that there is.

 

[Option5]

3 minutes ago, leonardratso said:

is that fergus?

Twat 😂😂

[Band]

21 minutes ago, leonardratso said:

is that fergus?

Doubt Sleepy is man enough to handle Judith.

[Band]

1 hour ago, Option5 said:

My reference to bitter was that feeling angry but powerless does you more harm than your target. If he/she is what you think they'll be winding you up for fun and winning. If they're not they'll be pissed off with you, nobody wins all lose.

Far from 'STFU' about the subjects you mention you should make your point. However resorting to vitriol and name calling (no matter who started it) only undermines your credibility.

Making your point nicely but forcefully works far better, ask Jacob Rees Mogg.

 

I dont think itd be possible for anyone on the internet to actually wind me up or most people on here for that matter despite how it may come across. Tory party printing more money or coming up with help to buy may get me angry for moment as that has a genuine effect.

But sometimes some people just need to be told exactly how it is in no uncertain terms.   

And JRM maybe polite  but it hasn't helped much for Brexit, maybe he'd have been better getting angry and telling May exactly what she is ... works for Trump!

[Option5]

25 minutes ago, Banned said:

And JRM maybe polite  but it hasn't helped much for Brexit

Not yet, but you never know

[Band]

9 minutes ago, Option5 said:

Not yet, but you never know

Come on you trying to tell me you'd not like to hear him tear Theresa a new one and tell her exactly how it is, i've no doubt he excel at it.

Us plebs are tired of the PC polite way, hence the rise of Farage and Trump.

[Option5]

3 minutes ago, Banned said:

Come on you trying to tell me you'd not like to hear him tear Theresa a new one and tell her exactly how it is, i've no doubt he excel at it.

Us plebs are tired of the PC polite way, hence the rise of Farage and Trump.

On the contrary, I think he will, but politely.

I was once given the advice "always make your words sweet and pleasant just in case you're forced to eat them later"

 

[spygirl]

13 hours ago, sleepwello'nights said:

That's competition. I've dropped the rent I was asking when I had an empty house. I think it was back in 2009/10. There was a glut of rental properties at the time. I got in touch with the housing department of my local authority and they found two sets of tenants. Both were the worst tenants I've ever had. One was scamming the DWP, we found out that she was receiving about £28k per annum in benefits, paid into her UK bank account. It was being withdrawn in $50 and $100 increments from a cash machine in Ghana! The other, a single mother, moved her boyfriend and his dog in. The neighbours later said it was like Beirut when they were living there, constant shouting and fighting often in the street. Fortunately neither pair didn't stay very long. The DWP scammer vanished after 2 weeks and I didn't renew the tenancy for the single mother. I thought it best for the sanity of her neighbours.

Back to my question though if there was inelasticity of demand and no competition would you drop your price because your input costs fell? 

'Weve got a private LL asking if weve any tenants that need housing!!!!!

Lets get rid of Shazna Scumster'