House prices fell 1.20% in June

AndrewSmith

Gorgeous_George wrote:

and that the yanks didn't land on the moon in 1969.



GG

A man after my own heart

asandwhen

you say that unemployment is rising this is true but employment is also rising so yes there are more people out of work than this time last year but there are also more people IN work.

Conrad

[QUOTE=sikejsudjek

Just watch the Buy To Let's bail out when the penny drops that their pension investment is actually a debt burden ! I did ! :-)[/QUOTE]


Interesting. I did too. Are we in a minority?

I know some very experienced old timer LLs. Not one of them would buy at todays prices, indeed some like us are selling. mmmmmmmm

I worry for these new amateur B2Ls comming into the market. Certainly those I talk to dont have any idea of comparartive yields / growth.
Thier sole reason for B2L now is "its me pension", no real thought beyond that. If only investing were so simple.:D

martyn4764

asandwhen wrote:

you say that unemployment is rising this is true but employment is also rising so yes there are more people out of work than this time last year but there are also more people IN work.

Virtually all in the public sector; they COST the taxpayer, rather than create wealth.

BobProperty

Conrad wrote:

Interesting. I did too. Are we in a minority?

I know some very experienced old timer LLs. Not one of them would buy at todays prices, indeed some like us are selling. mmmmmmmm

I worry for these new amateur B2Ls comming into the market. Certainly those I talk to dont have any idea of comparartive yields / growth.
Thier sole reason for B2L now is "its me pension", no real thought beyond that. If only investing were so simple.:D

What do you reckon we can pick them up for and when? I'm going for about 4-5 years time and about half current prices.

meanmachine_2

Conrad wrote:

Thier sole reason for B2L now is "its me pension", no real thought beyond that. If only investing were so simple.:D

That worries me.

If people think of a BTL as their pension, then aren't they prepared to put some money in each month, to cover any rent shortfall?

So "I" put in a little bit (the owner)
and "they" put in a little bit (the renter)

Of course it makes no sense as a business, but as a pension obligation I can see this going on for a while yet - until the cost of borrowing rises. That's something you don't have to cope with when it comes to traditional pensions.

Dead_Eye_Jones

Depends who you want to believe doesnt it?

LONDON (Reuters) - House prices rose 0.3 percent in June, lifting the annual rate of increase to 5.0 percent, its highest in three months, the Nationwide Building Society said on Thursday.


http://go.reuters.co.uk/newsArticle.jhtml?type=personalFinanceNews&storyID=1285684&src=eDialog/GetContent



FTBs can afford to buy, I just bought a 3 bed semi in London. How did I manage that? My parents bought it? Nope. I have some High flying job? Nope. I won the lottery? Nope.

When I came out of universty I was a natural born MSE and spent carefully, I didnt drink my way through Uni so my debts were less than most, I didnt feel pressurised by the media into seeing the world, buying a flash car, big TV, an iPod. I saved hard for 7 years and built up a nice juicy deposit. With this and the kinda mortgage you can get on an average salary I was able to buy the house with in commuting reach of London. It also helped that I was prepared to live slightly further out (zone 6, inside the M25 still ), albeit in a safe and pretty area.

The problem imo is that my generation is used to having what they want, when they want it. They are bombarded with messages from the media draining their money away, and have the priorities horribly wrong. When faced with the choice of 'living for the moment' or 'saving for the future' most pick the former and seem slightly pssed off that they cant have it all.

Anyone my age could buy a house now if they had put the effort in at school, worked hard once in the big wide world and saved their money rather than wasting it away on luxury items they felt they deserved. There is nothing special about me, I just knew what I wanted, and planned for it - a long time ago!

I havent had all the breaks in life, I just took my opportunities and worked hard, and people who cant do this need to learn the hard way...

asandwhen

martyn4764 wrote:

Virtually all in the public sector; they COST the taxpayer, rather than create wealth.

infact public sector workers are on the decrease aswell.

david29dpo

Dead_Eye_Jones wrote:

Depends who you want to believe doesnt it?

LONDON (Reuters) - House prices rose 0.3 percent in June, lifting the annual rate of increase to 5.0 percent, its highest in three months, the Nationwide Building Society said on Thursday.


http://go.reuters.co.uk/newsArticle.jhtml?type=personalFinanceNews&storyID=1285684&src=eDialog/GetContent



FTBs can afford to buy, I just bought a 3 bed semi in London. How did I manage that? My parents bought it? Nope. I have some High flying job? Nope. I won the lottery? Nope.

When I came out of universty I was a natural born MSE and spent carefully, I didnt drink my way through Uni so my debts were less than most, I didnt feel pressurised by the media into seeing the world, buying a flash car, big TV, an iPod. I saved hard for 7 years and built up a nice juicy deposit. With this and the kinda mortgage you can get on an average salary I was able to buy the house with in commuting reach of London. It also helped that I was prepared to live slightly further out (zone 6, inside the M25 still ), albeit in a safe and pretty area.

The problem imo is that my generation is used to having what they want, when they want it. They are bombarded with messages from the media draining their money away, and have the priorities horribly wrong. When faced with the choice of 'living for the moment' or 'saving for the future' most pick the former and seem slightly pssed off that they cant have it all.

Anyone my age could buy a house now if they had put the effort in at school, worked hard once in the big wide world and saved their money rather than wasting it away on luxury items they felt they deserved. There is nothing special about me, I just knew what I wanted, and planned for it - a long time ago!

I havent had all the breaks in life, I just took my opportunities and worked hard, and people who cant do this need to learn the hard way...

good for you!! stupid people sending money they have not got.

lowis

depends on your circumstances. i could not afford a 3 bed semi in the 'burbs on my salary. i can afford a 1 bed ex-council flat under the right to buy scheme in EC1 though (just). anyone earning 3 or 4k less than me wouldn't be able to afford that - so no not everyone can afford to buy their own home in the area they want to live in (or were brought up in). i could afford a house in some run down or out of the way town somewhere MILES from london but i would need my london slary to pay for it.