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Debate House Prices
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House price -0.9% YoY in April 2008 (Hometrack)
Comments
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'Buying is dead money'0
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Torgraph reporting the same.
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/28/nprices128.xml
The average residential property is now worth £173,100 - £1,500 less than a year ago, claims Hometrack, the property research company.
The 0.9 per cent slump is "highly symbolic", say industry analysts, because it is the first time since the credit crisis began that any property index has shown house prices falling on an annual basis.
Homes are now taking a record length of time to sell, with the average property staying on the market for 9.1 weeks before it is sold. Sellers are taking a seven per cent cut in their asking price.
The data from Hometrack is the firmest indicator yet that the 13-year house price bubble has burst, as the turmoil in the mortgage market makes buying property increasingly difficult for many people.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
'Buying is dead money'
No, the interest you pay on buying a property is dead money, just like rent.
If you can buy a property with the interest paymentsless than rent, then you are better off buying.
Over the term of a mortgage, paper valuations will go up and down.
Whats important is affordability.
But if society becomes a load of renters, then this is only good for the properties I rent out
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »But if society becomes a load of renters, then this is only good for the properties I rent out
I would disagree,
If renting becomes the society norm, governments will pander to the largest demographic providing more security. This is how democracy works.
However we should put that in the 'it'll never happen' bracket, as the UK tax system relies on estate ownership to enforce it's payment.0 -
I have no problems providing my tenants more security.I would disagree,
If renting becomes the society norm, governments will pander to the largest demographic providing more security. This is how democracy works.
I already have signed up to the government as a registered landlord.
If a tenant wanted to sign a tenancy for a longer period, I am happy to let them do this.
If a tenant advises there is a problem with the property, I do whatever I can to resolve the problem, even small ones i.e. a tenant once complained of a draft from under the kitchen sink. I got this resolved within a couple of days. I actually promote tenants advising of property issues as it helps me to maintain the property.
What also is needed is security for landlords.
I'm sure there is a happy medium for both tenants and landlords
Still, if society became more renter orientated, even with more tenancy security, my properties would still have a higher proportion of available renters meaning that the risk of void periods would be reduced or longer tenants meaning less advertising costs.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I would disagree,
If renting becomes the society norm, governments will pander to the largest demographic providing more security. This is how democracy works.
However we should put that in the 'it'll never happen' bracket, as the UK tax system relies on estate ownership to enforce it's payment.
I think we will see less security for LLs (in tax breaks) once this government get rid of their other properties.
It's hard to believe that a Labour governemnt is the one that have diddled so many of its young voters out of the chance of buying a home.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
When you think of the huge rises in house prices that were being shown in the early part of 2007, the market must have been plummeting in the last few months to get to a negative now.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
It's their frontpage headline.Torgraph reporting the same.
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/28/nprices128.xmlIllegitimi non carborundum.0
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