Nationwide "Real" House Price Index rose 1.6% in June

HAMISH_MCTAVISH

Well, it is absolutely mental for someone with multiple and/or investment property holdings to want prices to fall. You may as well buy shares in the company you work for and then do your best to sabotage it's profit...:rolleyes:

But seeing as how you have such a desire to see prices fall, presumably for the greater good, how about you just go out and find a deserving young couple to sell your spare property to, and flog it to them for £5K.
Afer all, you claim to not care about personal gain, and as we all know, prices are set at the margins....;)

I keep mentioning this option to the bears, but amazingly none have taken me up on it yet...:rotfl:

nearlynew

HAMISH_MCTAVISH wrote: »

But seeing as how you have such a desire to see prices fall, presumably for the greater good, how about you just go out and find a deserving young couple to sell your spare property to, and flog it to them for 25K.
Afer all, you claim to not care about personal gain, and as we all know, prices are set at the margins....;)

.

Or give to my kids when they grow up maybe?

mewbie_2

HAMISH_MCTAVISH wrote: »

Well, it is absolutely mental for someone with multiple and/or investment property holdings to want prices to fall.

No it isn't.

1. We all know that BTL is the key to a successful retirement, but some of us missed the boat. Therefore if prices drop sufficiently we will all have a chance of sharing in the riches.

2. Any of us who are already BTL owners are in it for the long term. And if they drop we'll just buy more. Because it's the yield that counts. And that actually goes up when prices drop.

So it's win win all round matey.

ad9898_3

nearlynew wrote: »

Or give to my kids when they grow up maybe?

See, this is the problem with Hamish and his like, they think money is everything, trust me it isn't and the likes of yourself prove the point. When you use money to buy things from anything from a CD to a Porsche, it has a novelty factor, which only lasts a finite amount of time, once the novelty has worn off, the only way for these kind of people to replace the novelty is to buy something else......... the cycle continues and you basically get nowhere, always chasing something that you will never catch........ NOW..

Take your statement above, when you help someone out, whether it be a minor thing or something bigger, like yourself with your children, you get a good feeling that can last a lifetime.... and that is the key to fulfilment. This is why I've said to my friends and family that if I won the lotto, I would give the majority of it away to them, the smile on their faces will last much longer than materialistic items that I could buy.

mewbie_2

ad9898 wrote: »

This is why I've said to my friends and family that if I won the lotto, I would give the majority of it away to them, the smile on their faces will last much longer than materialistic items.

If it helps I would be happy to take the lot off you. Allow me to carry the burden as it were.

HAMISH_MCTAVISH

mewbie wrote: »

No it isn't.

1. We all know that BTL is the key to a successful retirement, but some of us missed the boat. Therefore if prices drop sufficiently we will all have a chance of sharing in the riches.

Ahhh, so those that missed the boat want their turn. Good to see basic greed is alive and well.

2. Any of us who are already BTL owners are in it for the long term. And if they drop we'll just buy more. Because it's the yield that counts. And that actually goes up when prices drop.

Umm, unless I missed something, rents are falling just as much as prices in percentage terms. Yields are therefore not increasing at all.

And rental income is but half of the equation. Capital gains are just as important over the long term, it's impossible to be profitable at 3% or 4% gross yields (as is the case in many parts of the country) without them.

All the crash is doing is wiping out many years of profits for existing BTL-ers. Buying more only lessens the losses by lowering the average cost of acquisition. It won't make up for losses.

Now, if you want to argue that you live in one of those areas where 8% yields are achievable, then I'd agree with your point a bit more. But of course, the areas with 8% yields are also the areas with the biggest supply shortages, and prices have held up far better as well. I live in one of those areas, and prices here are only down 5.5% in the last 12 months... so not even enough to cover rent for a year.:cool:

Your argument therefore makes little sense.

ad9898_3

mewbie wrote: »

No it isn't.

1. We all know that BTL is the key to a successful retirement, but some of us missed the boat. Therefore if prices drop sufficiently we will all have a chance of sharing in the riches.

2. Any of us who are already BTL owners are in it for the long term. And if they drop we'll just buy more. Because it's the yield that counts. And that actually goes up when prices drop.

So it's win win all round matey.

Now, now mewbie don't confuse him.

mewbie_2

HAMISH_MCTAVISH wrote: »

Your argument therefore makes little sense.

Indeed. But it was short and coherent.

chucky

ad9898 wrote: »

See, this is the problem with Hamish and his like, they think money is everything, trust me it isn't and the likes of yourself prove the point. When you use money to buy things from anything from a CD to a Porsche, it has a novelty factor, which only lasts a finite amount of time, once the novelty has worn off, the only way for these kind of people to replace the novelty is to buy something else......... the cycle continues and you basically get nowhere, always chasing something that you will never catch........ NOW..

Take your statement above, when you help someone out, whether it be a minor thing or something bigger, like yourself with your children, you get a good feeling that can last a lifetime.... and that is the key to fulfilment. This is why I've said to my friends and family that if I won the lotto, I would give the majority of it away to them, the smile on their faces will last much longer than materialistic items that I could buy.

whilst i agree with your comments here i'd just like to add that there is a balance that is required. not the total focus of money, money, money...

also, some people do actually do these things to look after their future and their families future and security.

mewbie_2

chucky wrote: »

also, some people do actually do these things to look after their future and their families future and security.

Well said. I was very lucky to visit a palm reader in 2006, Lady Pamela, based at Brighton seafront if you ever need to know. After some deliberation she estimated my grandchildren would total four, and would have long and successful lives. I would of course one day marry, and move out of my rented bedsit. It was a great reading and well worth the fifty pounds.

As I got up to leave I ventured a question. "Would it help my grandchildren if I were to invest in BTL" I said. She looked up from her crystal ball. "Stay the fook away from it Mewbie, or tha Black card of the Tarot will haunt you forever"

Wise words.