The Myth of record debt!

pickles110564

!!!!!!? wrote: »

Many people seem to think that letting a house is just about collecting the cash every month, not providing a business service and a vital service at that.

I know quite a few people that have said that if they had known then what they know now they would never have got into BTL.

mizzbiz

abaxas wrote: »

What a load of crap, it's all in the accounting.

I agreed that is isn't a 'record', however if you include PFI it is! Also remember this figures are not including NR/BB.

Spin by selecting a subset of data not the raw data itself.

That's why I turned down an interview at the ONS.
Unfortuntely, they didn't specify that you had to have a degree in Complete and Utter Bollox (a first-class at that).

You can make statistics say whatever you want them too if you choose the raw carefully. Government statisticians don't collate and analyse data, they manipulate it, which they do actually specify in their recruitment adverts! Every 'statistic' that is released is tweaked and tuned until it reveals the mystery they want it to reveal.

mewbie_2

pickles110564 wrote: »

I know quite a few people that have said that if they had known then what they know now they would never have got into BTL.

If I knew now what I knew then I wouldn't have been diagnosed with Alzheimers.

Sorry. Bad taste joke.

JonnyBravo

!!!!!!? wrote: »

BTL can make sense at the right price. I don't like gambling in stocks and shares and banks never seem to give savers a fair cut of the money they make off the back of savings deposits.

BTL might be a sensible way to invest my cash once the market is more sane ... though I'm not sure if I want to get involved with the hassle/responsibility of being a landlord even should the sums make sense. Many people seem to think that letting a house is just about collecting the cash every month, not providing a business service and a vital service at that.

Yep, all fair enough.

Sorry I'm not making myself clear. It's not so much why you want to/are thinking of entering BTL in the future, more why would you want to have a flat as a BTL?
I seem to remember you saying a house would seem more sensible due to the oversupply of flats etc and that all those BTLer's with their new build flats are shafted etc (Something I happen to agree with as my BTL is a house!)
Even when those shiny new build flats come down in price there will still be an awful lot of them!

moggylover

mizzbiz wrote: »

That's why I turned down an interview at the ONS.
Unfortuntely, they didn't specify that you had to have a degree in Complete and Utter Bollox (a first-class at that).

You can make statistics say whatever you want them too if you choose the raw carefully. Government statisticians don't collate and analyse data, they manipulate it, which they do actually specify in their recruitment adverts! Every 'statistic' that is released is tweaked and tuned until it reveals the mystery they want it to reveal.

:T :T Or hides the one they want hidden;) .

This could have been an interesting thread without all the usual culprits (from both sides) getting into petty arguments!

Don't see much hope for World Peace if this is the way grown adults behave:eek:

dopester

StevieJ wrote: »

Does that mean that negative equity is imaginary negative equity?

Hmmmmmmmmmmm.

“House prices are a matter of opinion, whereas debt is real.”

- Mervyn King [Governor of the Bank of England]

WTF?_2

JonnyBravo wrote: »

Yep, all fair enough.

Sorry I'm not making myself clear. It's not so much why you want to/are thinking of entering BTL in the future, more why would you want to have a flat as a BTL?
I seem to remember you saying a house would seem more sensible due to the oversupply of flats etc and that all those BTLer's with their new build flats are shafted etc (Something I happen to agree with as my BTL is a house!)
Even when those shiny new build flats come down in price there will still be an awful lot of them!

It's about price and cashflow.

A flat should be cheaper and easier to make a good yield from depending on market conditions. Obviously not at the sort of crazy prices we saw near the peak though. Anyone who spent a fortune on them are shafted, completely. I'd imagine many will end as social housing.

I'd also consider a small house of course. The idea would be to buy something manageable that yields me cash without borrowing heavily to do so. Something not very easy to do over the last few years but likely to be considerably easier to do if this pans out in a normal way. Massive inflation, all bets are off. I feel should put that in a .sig

JonnyBravo

!!!!!!? wrote: »

It's about price and cashflow.

Absolutely.

!!!!!!? wrote: »

I'd imagine many will end as social housing.

I'm really not sure about this. Undoubtedly it will happen in places but it is often said it will happen in large no's. I just dont see the Govt being willing to finance this on a large scale.

!!!!!!? wrote: »

I'd also consider a small house of course. The idea would be to buy something manageable that yields me cash without borrowing heavily to do so.

Yep. Surely there is the possibility that the rents will be lower for flats due to the number which have been built in recent years and so a small house may well be your best bet.

!!!!!!? wrote: »

Massive inflation, all bets are off.

Yep. Everyone will be scrabbling to take on debt asap and get it eaten away by inflation. At the moment that doesn't look too likely though.