How does Buy to Let END!

[macca]

On 15/10/2021 at 20:24, spygirl said:

All non Brits who dont earn more than 20k are kicked.

All the remaining ones are removed from benefits and have to pay for public services.

Poof! 10m-15m go.

 

Immigration has always been about creating division, lowering living standards, wages and raising asset prices..

I would also add lots of slums living and low wages breed crime.. If you've got nothing to lose.

Edited October 17, 2021 by macca

[Wight Flight]

21 minutes ago, macca said:

Its going to be carnage anyway anyway,, There is no end game from all this greed and corruption that does not end in carnage..

Printing money and giving it to the rich to become debt for the workers was never going to end well!

Slavery of workers must end!

https://wolfstreet.com/2021/10/02/my-wealth-effect-monitor-for-our-money-printer-economy-is-out-in-the-pandemic-the-fed-totally-blew-out-the-already-gigantic-wealth-disparity/

 

The problem is that they are trying to kill BTL before they have got an alternative in place.

Building millions of decent council houses is the only way out of this without destroying a generation.

[macca]

2 hours ago, Wight Flight said:

The problem is that they are trying to kill BTL before they have got an alternative in place.

Building millions of decent council houses is the only way out of this without destroying a generation.

If the economic collapse happens from all the stolen money we might not need more houses..  See how many more people the Conservatives can kill in the next few years..

But on a lighter note yes we need to return housing to a social good not investments for lazy, greedy stupid people to get rich!

They are homes not slave boxes.. If you make it so everyone has a decent affordable home crime goes down, gardens are nicer, people can focus on a future with opportunity, less stress and more living.

We cant all be well paid doctors, bankers etc, some people have to do the low paid work and they deserve a home as well.

[Option5]

This is getting to peak BTL, Dot-com bubble all over again

 

"Is buying shares in property via the Portfolio app a good investment?"

 https://www.thisismoney.co.uk/money/investing/article-10073599/Buying-shares-buy-let-Portfolio-app-good-investment.html?ito=native_share_article-masthead

 

[JoeDavola]

21 hours ago, Wight Flight said:

The problem is that they are trying to kill BTL before they have got an alternative in place.

Building millions of decent council houses is the only way out of this without destroying a generation.

Council houses in any great numbers won't happen, and if they do they won't be available to the workers that are struggling to buy at the moment.

The plan is quite obviously for the next generation to become lifetime renters to increasingly smaller and smaller living spaces.

[Wight Flight]

29 minutes ago, JoeDavola said:

Council houses in any great numbers won't happen, and if they do they won't be available to the workers that are struggling to buy at the moment.

The plan is quite obviously for the next generation to become lifetime renters to increasingly smaller and smaller living spaces.

I agree. Which is why I am not really cheering the current wage rises for workers. It will soon get absorbed in rent increases.

The music has stopped, and some people have been left without a parcel.

[JoeDavola]

16 minutes ago, Wight Flight said:

I agree. Which is why I am not really cheering the current wage rises for workers. It will soon get absorbed in rent increases.

The music has stopped, and some people have been left without a parcel.

What I don't understand is all of the people of various ages have gotten into the market before the ladder was pulled up but happen to have children, young or old, who don't yet own housing, don't have the foresight to look into the future and think "what will my children do" or even, heaven forbid, "what will future generations (if they don't have kids) do".

Nobody gives a shit. It's literally "lolz my house is up 20% this year!!", and maybe if you're lucky they might realize that they couldn't actually afford where they're living at today's prices, but it's a small percentage that even realize that much.

Edited October 18, 2021 by JoeDavola

[Wight Flight]

6 minutes ago, JoeDavola said:

What I don't understand is all of the people of various ages have gotten into the market before the ladder was pulled up but happen to have children, young or old, who don't yet own housing, don't have the foresight to look into the future and think "what will my children do" or even, heaven forbid, "what will future generations (if they don't have kids) do".

Nobody gives a shit. It's literally "lolz my house is up 20% this year!!", and maybe if you're lucky they might realize that they couldn't actually afford where they're living at today's prices, but it's a small percentage that even realize that much.

Most people are incredibly selfish. You should have learned that by now.

[JoeDavola]

Just now, Wight Flight said:

Most people are incredibly selfish. You should have learned that by now.

Yes it's the only conclusion I can come to.

[Boon]

15 hours ago, JoeDavola said:

What I don't understand is all of the people of various ages have gotten into the market before the ladder was pulled up but happen to have children, young or old, who don't yet own housing, don't have the foresight to look into the future and think "what will my children do" or even, heaven forbid, "what will future generations (if they don't have kids) do".

Nobody gives a shit. It's literally "lolz my house is up 20% this year!!", and maybe if you're lucky they might realize that they couldn't actually afford where they're living at today's prices, but it's a small percentage that even realize that much.

Pretty accurate.

But that's the nub of it all, the government know that people are too self-absorbed in their own affairs... as long as they can deliver some house price gains every year, most people will turn the other way when they know the government are incompetent and corrupt.

We have something in common with China in that the government will probably do the bare minimum it needs to avoid social unrest, whilst simultaneously not really giving a shit.

 

[HousePriceMania]

https://www.telegraph.co.uk/property/buy-to-let/buy-to-let-mortgage-rate-rises-mark-end-cheap-debt-boom-landlords/

 

No more cheap debt for landlords as buy-to-let rates rise

Property investors warned the 'tide is turning' on cheap mortgages

[Noallegiance]

45 minutes ago, Boon said:

Pretty accurate.

But that's the nub of it all, the government know that people are too self-absorbed in their own affairs... as long as they can deliver some house price gains every year, most people will turn the other way when they know the government are incompetent and corrupt.

We have something in common with China in that the government will probably do the bare minimum it needs to avoid social unrest, whilst simultaneously not really giving a shit.

 

For me this is a symptom not a cause.

A succession of governments have fucked this country economically. So much so that the family and community unit has been shattered. People have been forced into being more self-absorbed in order to make ends meet.

It's like a central bankers 'plan'. Things are so bleak that people can only do things that deal with now. Fuck later. Except that when later arrives things are worse. Nothing gets fixed because nobody wants the pain. You can only make that decision if, on some level, you realise how truly painful what lies beneath is.

The lack of discipline, honesty and mental fortitude comes from the top.

Collectively, we are in trouble on multiple levels.

[HousePriceMania]

8 minutes ago, Noallegiance said:

 

It's like a central bankers 'plan'.

Nail on the head....

 

 

The bankers really are the cause of all our ills.

[mh9000]

16 hours ago, JoeDavola said:

What I don't understand is all of the people of various ages have gotten into the market before the ladder was pulled up but happen to have children, young or old, who don't yet own housing, don't have the foresight to look into the future and think "what will my children do" or even, heaven forbid, "what will future generations (if they don't have kids) do".

Nobody gives a shit. It's literally "lolz my house is up 20% this year!!", and maybe if you're lucky they might realize that they couldn't actually afford where they're living at today's prices, but it's a small percentage that even realize that much.

It’s getting to the stage where no matter how much I save for a deposit, if the mad HPI gainz of last year continue I may as well have not bothered. There must loads of people in this scenario.

My parents neighbour is selling her house, (would’ve been ideal for me and ex-gf) on the one hand she says feels sorry that the next generation can’t afford it but also thought the lower valuation was miles off, haha!

I can still just about afford the areas/type of house I’m looking at but does feel like a potential trap at the minute. I’m relatively fortunate I got a deposit saved from contracting (UK engineering pay low rates not software sadly), cash that would’ve gone into a pension. 

I guess if it’s somewhere I’d stay for 5 years or longer and fixed then all good.
Anyway I’ll let you all know when I do it, as the inevitable crash will come as soon as I’ve finally given in and bought one.

[Noallegiance]

12 minutes ago, mh9000 said:

It’s getting to the stage where no matter how much I save for a deposit, if the mad HPI gainz of last year continue I may as well have not bothered. There must loads of people in this scenario.

You're not alone. We save and we lose ground. So we spend a little then feel guilty. 

I've never felt so shackled. And I'm 'in the knowledge (allegedly!). There's millions out there who don't understand why their efforts se them gong backward.

No wonder mental illness is so rife. It's the effect of having your future hope and prosperity taken away.

[afly]

28 minutes ago, mh9000 said:

It’s getting to the stage where no matter how much I save for a deposit, if the mad HPI gainz of last year continue I may as well have not bothered. There must loads of people in this scenario.

You're not wrong.

 

 

MENTAL

[Wight Flight]

44 minutes ago, afly said:

You're not wrong.

 

 

MENTAL

I would rip your arm off for that.

We were 23% last year - and 50% in my individual road.

 

[Frank Hovis]

On 19/10/2021 at 13:21, mh9000 said:

It’s getting to the stage where no matter how much I save for a deposit, if the mad HPI gainz of last year continue I may as well have not bothered. There must loads of people in this scenario.

My parents neighbour is selling her house, (would’ve been ideal for me and ex-gf) on the one hand she says feels sorry that the next generation can’t afford it but also thought the lower valuation was miles off, haha!

I can still just about afford the areas/type of house I’m looking at but does feel like a potential trap at the minute. I’m relatively fortunate I got a deposit saved from contracting (UK engineering pay low rates not software sadly), cash that would’ve gone into a pension. 

I guess if it’s somewhere I’d stay for 5 years or longer and fixed then all good.
Anyway I’ll let you all know when I do it, as the inevitable crash will come as soon as I’ve finally given in and bought one.

 

Most people are being partly the architects of their own problems by saving for a house / house deposit in cash.

Cash has been relentlessly devalued for years and with current inflation that is only going to accelerate.

[mh9000]

I agree, I’ve done exactly what most people do with it because it was the fear of losing outweighed the potential gains which stopped me investing more although it’s losing anyway thanks to the HPI. 

I’m grateful to the posters in these threads and particularly the reflation thread and my mate who pointed me in this direction. I’ll be honest until then about two years ago I followed most typical personal finance stuff, bond/stocks split (although was 100% stocks due to age) accept shite cash savings if you need it in 5 years etc.

So where would be a better home in your opinion for a deposit then? Reflation stocks? PMs? Not taking it as advice just curious.

Feels like I’ve missed a lot of the reflation gains now though from what I have invested so between a rock and hard place, hoping for interest rate rises to drop prices.

54 minutes ago, Frank Hovis said:

 

Most people are being partly the architects of their own problems by saving for a house / house deposit in cash.

Cash has been relentlessly devalued for years and with current inflation that is only going to accelerate

 

[Noallegiance]

1 hour ago, Frank Hovis said:

 

Most people are being partly the architects of their own problems by saving for a house / house deposit in cash.

Cash has been relentlessly devalued for years and with current inflation that is only going to accelerate.

Agreed. Until asset deflation occurs.

Rising daily costs and reducing asset prices is, IMO, on the cards. I'm hoping that it's not just because that's what I want!

[Frank Hovis]

27 minutes ago, mh9000 said:

So where would be a better home in your opinion for a deposit then? Reflation stocks? PMs? Not taking it as advice just curious.

 

Whatever suits you tbh.

I've always taken the long view, as in what investments which are going to do seriously well in the long term, rather than trying to play the markets.

I decided way back - thirty years back! - that that was the stock markets. Since refined to low fee trackers of big companies in developed economies.

I haven't changed that view though sold some nearly ten years ago to buy a house.

 

As it's a house deposit then the horizon would be more short term; maybe 50% stock markets 15% physical gold 15% crypto (though research it first!) 20% cash.

There's risk there but both upside and downside; cash is just downside.

[Frank Hovis]

22 minutes ago, Noallegiance said:

Agreed. Until asset deflation occurs.

Rising daily costs and reducing asset prices is, IMO, on the cards. I'm hoping that it's not just because that's what I want!

 

I certainly agree about rising daily costs.

I either don't agree with or don't fully understand the rationale for asset deflation. Not sure.

 

Though I am expecting a mini-crash in Cornwall seaside house prices, which includes mine, because the reason for their recent boom was Covid / Lockdown (wfh, staycation) and when that goes away then so do the rises.

[Bobthebuilder]

11 minutes ago, Frank Hovis said:

Though I am expecting a mini-crash in Cornwall seaside house prices, which includes mine, because the reason for their recent boom was Covid / Lockdown (wfh, staycation) and when that goes away then so do the rises.

This is what I am expecting to see in my Dorset search area, 30% maybe, but that would only be the froth that rose over the lockdown. I am keeping a close eye on it at the moment, hardly anything is selling now, lots of over priced stuff in the towns. In the trophy villages nothing is selling at all at the moment, but more listings than I have seen since 2008.

[Frank Hovis]

9 minutes ago, Bobthebuilder said:

This is what I am expecting to see in my Dorset search area, 30% maybe, but that would only be the froth that rose over the lockdown. I am keeping a close eye on it at the moment, hardly anything is selling now, lots of over priced stuff in the towns. In the trophy villages nothing is selling at all at the moment, but more listings than I have seen since 2008.

Good.

Greedy people trying to take their profits are going to watch those profits evaporating.

I was chatting to someone in a small seaside town yesterday and he said that pretty much the whole opposite side of the street of small terraced houses was now holiday lets. Not St Ives.

There was no sea view and just street parking.

Amusingly whilst there a couple arrived in two big black cars, one a SUV, and started unloading their luggage for the week.  Their cars ran across the frontages of five houses.

They must be really annoying the residents.

[spygirl]

1 hour ago, Frank Hovis said:

Good.

Greedy people trying to take their profits are going to watch those profits evaporating.

I was chatting to someone in a small seaside town yesterday and he said that pretty much the whole opposite side of the street of small terraced houses was now holiday lets. Not St Ives.

There was no sea view and just street parking.

Amusingly whilst there a couple arrived in two big black cars, one a SUV, and started unloading their luggage for the week.  Their cars ran across the frontages of five houses.

They must be really annoying the residents.

Fingers crossed on budget finally sorting out gormless sbrr on fhls.

 

Edited October 24, 2021 by spygirl