We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
4,000,000 to need UK housing!
Comments
-
Milliewilly wrote: »They have to sell first. I know 2 people who laughed up their sleeves as they went off to Spain. 6 years on the novelty of sitting in the sun all day has worn off and they are unable to sell their properties, in the meantime the houses they left behind have rocketed and they can't afford to move back to their original location anyway.
Yep I would agree. From friends of mine it`s a bleak picture. The allure of, in their case, Spain caused people to not think things out. Obviously the sterling crash which no one ever thought would happen. People moved there and had mortgages with little idea of what work they would do. My friends bought out right with an income of £120 per week:eek: Very tough but doable with a bit of part time work. I felt that that £200 per week would give a reasonable standard of living but that was 5 years ago.
Prices have increased and it`s a double whammy if you are relying a fixed UK income when local groceries have rocketed.
The figure of an 8% drop in Spanish house prices I would disagree with. The area I know would appear to have much higher drops so if you can sell it might not be to great.
Add that to the tons of new build still to be sold and it doesn`t look too pretty.0 -
It will be impossible to allow the population to grow. Something needs to be done about it.
Even China has its limits with the one child policy.
To simply not do anything is very foolish indeed.
You don't get it, do you?
70 million is absolutely locked in. 80 or 90 million may be required to manage the pensions crisis. It will happen, no matter what you may think about immigration.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
My friends bought out right with an income of £120 per week:eek: Very tough but doable with a bit of part time work. I felt that that £200 per week would give a reasonable standard of living but that was 5 years ago.
It's partly because of this that people do not trust pensions and see property as a viable option in order to maintain future pension security.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
HAMISH_MCTAVISH wrote: »You don't get it, do you?
70 million is absolutely locked in. 80 or 90 million may be required to manage the pensions crisis. It will happen, no matter what you may think about immigration.
I've said before that continual and rapid immigration is a short sighted view of dealing with the pension crisis.
If you need 80 or 90 million to manage todays pensioners, how many will you need in the future.
No the resolution to the pensions crisis is to make people more self reliant.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »It's partly because of this that people do not trust pensions and see property as a viable option in order to maintain future pension security.
I agree but it rather turns some people into business persons as I feel that owning btl is a huge business step. In truth though, I doubt all of them have a proper business plan where voids, repairs and bad debt is factored in.0 -
> 80 or 90 million may be required to manage the pensions crisis<
Err, welfarism is a Ponzi scheme, that 90M will need 110M for their pensions, etc. etc. Of course, post peak-oil/food, that's not going to happen.
I applaud the Japanese for changing the rules by huge use of robots inc. for personal care.0 -
I agree but it rather turns some people into business persons as I feel that owning btl is a huge business step. In truth though, I doubt all of them have a proper business plan where voids, repairs and bad debt is factored in.
I don't see it being that big a step.
Voids - I'm running a 0.675% void rate or an average 2.46 days per year for the last 3.25 years. If the property is marketed properly and is in a good rental market then there is no real need for voids. I believe voids really are a product of poor marketing and complacency.
Repairs - Proper property maintenance goes a long way to keeing repairs to a minimum. You also benefit from repairs being deductable from income and thus subjected to less tax. I repaired a properties windows having them replaced. The loss incurred from this maintenance was carried over to be deducted from future years profits
Bad Debt - Maybe I'm fortunate, but so far I've not encountered a problem with tenants paying. Possibly due to stringent background checks carried out before leasing the properties.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
There is no way on this earth that 4,000,000 will return.
Even with the £ exchange rate being poor the cost of living is fate lower in Spain.
There are not the heating costs for a start.
Fags and Booze are cheaper, as are fresh fruit and veg when bought form the markets.
People who went to Spain with no real job prospects or independent income will suffer and will probably only return in the short term because of the generous benefit system we have.
This must change after the election, as the benefits are now unsustainable.Lic.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards