10 yrs on will u be envious of all those 'muppets' that got into B2L now?

treliac

Deep down are you concerned you will once again find yourself facing smug b@stards at the dinner party

Was this what you meant, Conrad? .....

mewbie wrote: »

Check out my thanks count Stevie...:D

treliac

PasturesNew wrote: »

I am jealous of people who "know somebody" and get to do well paid jobs based on luck/who they know - without any experience/knowledge of that job before their good fortune landed them into that role. Seen a lot, a LOT, of this happening over the years. That's what I get jealous of - things I could have done given the chance, not things I couldn't.

Isn't so much of life arbitrary and seemingly down to luck? Just have to try and bend that luck towards us insofar as we can.

As you say, the cliche often holds good - it's who you know not what you know!

ad9898_3

IveSeenTheLight wrote: »

LOL, you take it wrongly then, as usual

It's nothing to do with being proud or ashamed or any other emotion, I just dont talk about my finances with other people i.e. how much I earn, what bonuses I get, how much savings I have etc etc etc.

Didn't your mother teach you manners like this?

Dude, don't get up tight, I was just takin' the pi$$.;), my mother taught me lots of things, including manners, and not to take houses away from FTB'rs to make a fast buck on the back of HPI, when I already had a house to live in.:D

treliac

ad9898 wrote: »

not to take houses away from FTB'rs to make a fast buck on the back of HPI, when I already had a house to live in.:D

Isn't that what you get though in a a capitalist economy? BTL may not have have taken off as it did if there had been enough social housing available.

ad9898_3

treliac wrote: »

Isn't that what you get though in a a capitalist economy? BTL may not have have taken off as it did if there had been enough social housing available.

True, my above posts were a little tongue in cheek, they weren't to be taken too seriously. Moderate amounts of BTL were a good thing, especially with the lack of council housing now, however, the government should have bought in legislation to curb it at a certain level, other wise it just turns into a massive ponzi scheme, and we all know what happens to those.

The perfect example was that woman on TV a couple of weeks ago who earned something like 25k p.a. yet had racked up 7.5 million pounds worth of debt by buying property, mewing, buying property etc........, that she has now defaulted on, not only is she screwed, she has screwed her tenants as well.

mp2

Conrad wrote: »

It is evident to me that there exists a slice of British society that became very envious of all those 'b2l muppet' colleagues that 'luckily' made a cash pile on the back of unforseen growth. TBH I myself feel irked by these tiresome property porners, so much so I deliberately avoid one friend as I find his boastful recounting of his investment prowess incredibly anoying, even though I did a bit of B2L myself:rolleyes:

Thing is this, I don't want to find myself envious of the next generation of lucky property beneficieries and I suspect quite of few you feel the same way.

We can knock B2Lers all we like but the fact remains property prices will rise rapidly again and those with nets cast and full of fish will be those that benefit from this inflation.

Deep down are you concerned you will once again find yourself facing smug b@stards at the dinner party in 2019 recounting thier investment journey?

why will property prices rise rapidly again?

because banks will revert back to loose lending again? i dont think so.

normal lending leads to normal house prices. loose lending = high house prices. tightened lending = low house prices.

misskool

I don't really see the bile for a B2L (except maybe the amateur ones who had no business plans and weren't in it for the long term). Home ownership is something most of the people on this board aspire to but it's not suitable for everyone. Not everyone can be responsible enough to hold their finances accurately and some just don't want the responsibility.

The social housing stock belongs to the council (who are sort of B2L landlords), that is the reserve/emergency for those who can't and don't want to own property.

Home ownership is not the answer for everyone, and there has never been a point in time where it is attainable by all.

Mr_Mumble

Conrad wrote: »

the fact remains property prices will rise rapidly again

http://google.com/images?q=japan+house+prices

Snooze

I personally don't think most BTL LLs will have anything to celebrate in 10 years time. Most bought at the top of the market in the mid 2000s and if they really think that house prices will have exceeded those levels by 2019 then I think they're gonna be in for a shock with the way the economy is heading at the moment. I think a large number of them will be repo'd well before then anyway, so no "envy" nor "jealousy" will be happening here.

R

silvercar

A lot of BTL landlords will be saved from repo by the drop in interest rates.

The business minded landlords will benefit from the drop in interest rates by investing in their properties (new boilers, double glazing etc), the others will draw on the extra profit the rental income gives them.