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Debate House Prices
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Predictions on next boom - how big?
Comments
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HAMISH_MCTAVISH wrote: »In order for the UK to have the same oversupply of houses in percentage terms as Ireland does, we'd need to have 4,590,000 empty houses.
Ireland has ghost estates.
We'd need to have ghost cities....
Specifically, on top of our current houses, we'd need to build a number of entirely new and completely empty ghost cities the size of Birmingham, Glasgow, Edinburgh, Sheffield, Manchester, Liverpool and Leeds combined.
In actual fact, we have just 330,000 empty houses. And almost all of them are in the wrong place for demand, and not available anyway.
700K IN 2010
http://emptyhomes.com/statistics-2/breakdown-of-statistics/:T:TIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
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“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Thrugelmir wrote: »Without capital returns will be a poor investment.
Nonsense.
With BTL somebody else buys you a house over 25 years, and gives you sufficient extra cash over those 25 years to pay for void periods, maintenance, other costs and still have a few bob left over.
Capital gains are just icing on the cake.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Nonsense.
With BTL somebody else buys you a house over 25 years, and gives you sufficient extra cash over those 25 years to pay for void periods, maintenance, other costs and still have a few bob left over.
Capital gains are just icing on the cake.
Yet you still won't buy one.
Why spend so long trying to convince others when you can't even convince yourself?0 -
With BTL somebody else buys you a house over 25 years, and gives you sufficient extra cash over those 25 years to pay for void periods, maintenance, other costs and still have a few bob left over.
Not a model I recognise in the UK. As the majority of BTL mortgages are held on an interest only basis.0 -
Thrugelmir wrote: »Not a model I recognise in the UK. As the majority of BTL mortgages are held on an interest only basis.
Makes little difference.
The fact remains that over 25 years the revenue from rent will more than buy you a house, pay the interest, and cover costs.
What people choose to do with that revenue is up to them.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »Yet you still won't buy one.
Hamish is an anonymous poster on this site and no-one knows how many BTLs he owns
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moneyinmypocket wrote: »I think end of this decade we will see house prices boom again. I missed out on the last boom but am looking forward to the ride next time.
I honestly think that looking at the state of the world economy, it will be a long, long time – if ever – before there is a boom. For the first time in its history, the West in general is going into decline…
Decades ago, as well as more recently, the wrong policies were made in various respects, and this is the result.0 -
The-smoker wrote: »Yeah same story all over. Spain and Portugal are in the same boat as Ireland and the others. Half build estates and loads of empty new builds.
A good indication when you visit a country is how many crains you can see. There is usually a few crains here and there. But if there is a few almost everywhere you look then there is over building going on.
In London there are crains all over the place. New builds and new blocks of flats going up in huge numbers.
Q. Could the same happen here, yes very possible.
The thing about the UK is some areas are over populated and some underpopulated. When the benefit caps can no longer be put off there will be many low income families moving from over populated areas to underpopulated ones.
Looking at the entire UK together there is no shortage of housing, it is just the overpopulated areas. The underpopulated areas make up around 95% of the country, so the benefit caps will do a lot of good. Im sure the perma prop bulls who have been ramping property for ages will not think it is doing good but they have been wrong all the way down from the top of the property bear market any way.The thing about chaos is, it's fair.0
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