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The insanity of house buying
Leviathan2009
Posts: 110 Forumite
Both by those who cannot afford it and those buy to let landlords who feel the need to buy multiple properties and get tenants to pay for their mortgages. A recent show on BBC "Property Watch", really made my blood boil.
Since I am new user I am not allowed to post links - I would like to draw users attention to an article at The Guardian - type in "Property Watch Warped Logic Guardian" into Google.
Why is the government yet again allowing a situation to develop where these problems continue - all for this fantasy of a property owning democracy.
If somebody could paste a more direct link to the article it would be greatly appreciated.
Since I am new user I am not allowed to post links - I would like to draw users attention to an article at The Guardian - type in "Property Watch Warped Logic Guardian" into Google.
Why is the government yet again allowing a situation to develop where these problems continue - all for this fantasy of a property owning democracy.
If somebody could paste a more direct link to the article it would be greatly appreciated.
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Comments
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Never underestimate peoples stupidity!!!0
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Here you go: http://www.guardian.co.uk/money/2009/may/16/property-watch-house-pricesLeviathan2009 wrote: »...article at The Guardian - type in "Property Watch Warped Logic Guardian" into Google.
I am just annoyed at how much rent always costs for a single person. Looking at moving and all I want is parking, freezer, bath (obviously everything that's normal and less than that, but those are the extras I now want) - and rents in the area I want to move to are about £550... with bills chucked in that'd come to about 80% of takehome pay. Not a posh place, that's where prices start.
As BTL LLs were buying up new properties at higher prices and wanting a rent to cover that cost, existing LLs put up their rents to match.0 -
Indecision is the key to flexibility
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Leviathan2009 wrote: »Both by those who cannot afford it and those buy to let landlords who feel the need to buy multiple properties and get tenants to pay for their mortgages. A recent show on BBC "Property Watch", really made my blood boil.
Since I am new user I am not allowed to post links - I would like to draw users attention to an article at The Guardian - type in "Property Watch Warped Logic Guardian" into Google.
Why is the government yet again allowing a situation to develop where these problems continue - all for this fantasy of a property owning democracy.
If somebody could paste a more direct link to the article it would be greatly appreciated.
Take away the property owning fantasy, what are you left with? Renting. Back to the landlords then?
There seems to be a gap in your logic.0 -
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No - that's the THIRD one
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PasturesNew wrote: »You can never have too much of a good thing ... come to think of it, maybe I should read the link now.
:rotfl:Not a bad idea!!0 -
The trouble comes solely from viewing property as an investment.
Both the young 'uns on that programme were looking to sell the property on in 2-3 years probably ... so they must think they'd not lose money and it would fund their next adventure.
Buying a house should be about securing a home that you can stay in for as long as you want to, so long as you keep up the payments.
Everybody wants to be "settled" at some point in their life. If you can't be sure where you'll be living this time next year then you stop making plans. You don't join groups, you don't get involved in the local community, you just stop doing things because you don't know if you'll be around.
People moving about all the time, not from choice, isn't something you want to do in your 40s, 50s, 60s ... etc.
There is a time and a reason to buy. It's not to make money.0 -
I watched this program and part of it just made me laugh and other made me cringe.
I couldn't believe that person who got extra borrowing against her home to fund 6/7 new houses as BTL's during the boom and talked like it was buying a new outfit or something
I know some of it was hyped for TV and watchable however it did bring to light that most of the UK DO see getting there house as just a 'step' on the ladder and not a long term 'family home'
Personally I am renting until I can buy 3/4 bedroom house that me and my BF can grow into (aka a family home)0
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