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Debate House Prices
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come into some money - BTL to secure my future?
Comments
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My uncle says that property prices only ever go up, and that in years to come, due to low levels of house building etc and immigration/population increases, demand for accommodation will drive prices so much that in the next 10-15 years, the average man on the street will only be able to afford to live in a bed sit. Family homes will be a thing of the past, couples (and their children) will have to share with other families to split the rent.
He sounds a splendid guy.
Do you know if he considers BTL to be a 'profession'?0 -
To be honest, I envy your position. My uncle says that property prices only ever go up, and that in years to come, due to low levels of house building etc and immigration/population increases, demand for accommodation will drive prices so much that in the next 10-15 years, the average man on the street will only be able to afford to live in a bed sit. Family homes will be a thing of the past, couples (and their children) will have to share with other families to split the rent.
Sounds your uncle's making it up as he goes along.
Ask him where he thinks the money will come from for all this, now that the money supply is essentially deflating right now.0 -
LisbonLaura wrote: »He sounds a splendid guy.
Do you know if he considers BTL to be a 'profession'?
Don't know if he does but I do (if being a prostitute is belonging to the world's oldest profession).0 -
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anorthosite wrote: »Parasite is probably a more accurate term. At least prostitutes work for their money.
Guess which house Santa missed!0 -
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RenovationMan wrote: », so that you dont have to worry about tax, meanwhile your tenants pay the mortgage off and you reach retirement with one or more paid off properties.
Capital repayments are made out of after tax income. So not quite as simple as you suggest.
The more recent growth in BTL seems to have been focussed on rapidly rising property market to obtain a captal gain rather than any long term plan as to how the mortgage was going to ever be repaid.0 -
anorthosite wrote: »The BTLers hopefully - they've been naughty by consuming resources while contributing nothing back.
It's Christmas everyday for the BTL'ers - other people pay their mortgages for them.0 -
Thrugelmir wrote: »The more recent growth in BTL seems to have been focussed on rapidly rising property market to obtain a captal gain rather than any long term plan as to how the mortgage was going to ever be repaid.
Oops! :eek:0 -
anorthosite wrote: »Parasite is probably a more accurate term. At least prostitutes work for their money.
11 posts in 4 years. You should be contributing more with this degree of insight (incidentally are you currently renting from a landlord or a parasite?).0
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