Misery of the BTLers and property developers...

FungusFighter

Dan: wrote: »

S
Why was yor nose rubbed in it anyway?

Because I wasn't stupid enough to think it was a brilliant money-spinner to go to some dodgy mortgage lender and borrow at 100% ltv for some craphole I thought I could rent out for twice the mortgage payments and then never stopped fewking going on about it to people I thought were inferior to me because of it:beer:

This thread is for everyone whose ever had to listen to some !!!!!! bring them silly about there proerty empire and being pitied for not jumping on the bandwagon :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

FungusFighter

Dan: wrote: »

This just shows how much you really know. :rolleyes:

Enlighten me then Danno:beer:

Dan:_4

FungusFighter wrote: »

Enlighten me then Danno:beer:

Well, i don't understand when you say "they have no hope of paying off the mortgage"

Why do you think this is the case?

Dan:_4

FungusFighter wrote: »

Because I wasn't stupid enough to think it was a brilliant money-spinner to go to some dodgy mortgage lender and borrow at 100% ltv for some craphole I thought I could rent out for twice the mortgage payments and then never stopped fewking going on about it to people I thought were inferior to me because of it:beer:

This thread is for everyone whose ever had to listen to some !!!!!! bring them silly about there proerty empire and being pitied for not jumping on the bandwagon :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Then your just envious and weak of these people.

I have many friends in BTL and have had many conversations with them about it - but I did not feel they were inferior for one minute.

Some people gamble, some people are prudent - This will never change.

JP45

Pobby wrote: »

Awwww, I don`t wish carp on anyone. I do understand the anger of many having been shut out of home ownership by the insanity of prices but I don`t think the vast majority of people have been greedy as such. Most wanted a place to call their own.

Having, last time around, felt the fear of maybe losing my home I can assure every body that it is not a pleasant thing.

This whole situation is hurting so many non greedy folk. Someone like myself who has invested in low yielding " safe " products has lost out at this time. Savings doing sweet Fanny Adams. I don`t think that I have been greedy.

It`s a fact that due to this current situation, families will split, jobs will go, suicides increase, long standing family businesses will go to the wall. Where is the cause for celebration in any of that?

I agree. Very few people are going to escape unscathed from the effects of this downturn and the hangover, in terms of future spending cuts and tax rises, is going to be both painful and long lasting.

Having said that, I can understand the anger that many young potential first time buyers must have felt over the past decade or so as they found themselves squeezed out of the market. They've no doubt seen or heard countless reports of relatively wealthy or reckless folk building up massive BTL empires. In many cases, they'll have been tenants of such people.

So I can understand it if some of them are now feeling a certain satisfaction over the fate that has befallen some of the more greedy or reckless amongst us. And let's face it, who wouldn't feel a sense of schadenfreude if, for example, Sir Fred Goodwin were to fall on hard times.

FungusFighter

Dan: wrote: »

Well, i don't understand when you say "they have no hope of paying off the mortgage"

Why do you think this is the case?

You work it out mate:beer:

Avrage salary, mortgage at silly multiple of salary or silly multiple of expected rent plus capital losses = fewked on all fronts

Letme guess - you a BTLer ? :rotfl::rotfl::rotfl::rotfl::rotfl:

FungusFighter

JP45 wrote: »

I agree. Very few people are going to escape unscathed from the effects of this downturn and the hangover, in terms of future spending cuts and tax rises, is going to be both painful and long lasting.

Having said that, I can understand the anger that many young potential first time buyers must have felt over the past decade or so as they found themselves squeezed out of the market. They've no doubt seen or heard countless reports of relatively wealthy or reckless folk building up massive BTL empires. In many cases, they'll have been tenants of such people.

So I can understand it if some of them are now feeling a certain satisfaction over the fate that has befallen some of the more greedy or reckless amongst us. And let's face it, who wouldn't feel a sense of schadenfreude if, for example, Sir Fred Goodwin were to fall on hard times.

Sorry mate but that's botox, the only difference between you and me is I'm honest about it:T

and I wasn't priced out of the market for the record

ad44downey

Dan: wrote: »

I have many friends in BTL .

including your bestest friend chucky of course.... nudge, nudge, wink, wink

Dan:_4

FungusFighter wrote: »

You work it out mate:beer:

Avrage salary, mortgage at silly multiple of salary or silly multiple of expected rent plus capital losses = fewked on all fronts

Letme guess - you a BTLer ? :rotfl::rotfl::rotfl::rotfl::rotfl:

No, im not a BTLer.....too much hassle for me!

This does not mean they can't pay off their mortgage. Rent will easily cover the mortgage payments esp right now with historic low interest rates.

Weather you like it or not, the economy will recover and so will house prices, so the majority will ride this out.

Let me guess - your a desperate FTB who earns a crap salary?

FungusFighter

Dan: wrote: »

I have many friends in BTL and have had many conversations with them about it
.

Yeah, and I've been stuck int he pub with boring tw@ts like you:beer: