Buy to Let trash

girleight@

You can't blame BTL landlords. We live in a capitalist economy and everyone is trying to make money. Your greengrocer isn't selling you carrots to ensure you get proper nutrition- he's doing it to make a profit! Individual people can't be blamed for macroeconomic issues. So long as landlords provide a good service and don't try to rip off their tenants we can't have a moral problem with them as individuals.

There is a lot the government could do to improve the housing situation for young people- tighten up the rules to stop bad landlords refusing to repair anything and then threatening to evict people for a start. Maybe they should increase capital gains tax etc to stop BTL being so attractive. But you can't blame the individuals.

Imagine your boss came over and said they could either give you a pay rise or employ an extra person? I bet you would go for the pay rise. No one is going to pass up money for themselves just on the chance it might disadvantage some hypothetical person they don't even know!

brit1234

girleight@ wrote: »

You can't blame BTL landlords. We live in a capitalist economy and everyone is trying to make money.

Then raise interest rates, if it was truly a capitalist economy us savers wouldn't be bailing out your portfolios. If it was a capitalist economy the markets would have the freedom to correct themselves rather than artificially propped up.

If it was a capitalist economy we would have a free market not all the interventionism we have now. I would check your definitions next time before you quote capitalist economy.

:mad:

anselld

brit1234 wrote: »

If it was a capitalist economy we would have a free market not all the interventionism we have now. I would check your definitions next time before you quote capitalist economy.

:mad:

... and if it was a capitalist economy many savers would have lost a lot of money in collapsed banks.

brit1234

anselld wrote: »

... and if it was a capitalist economy many savers would have lost a lot of money in collapsed banks.

Yes but that's why you choose the prudent banks rather than the reckless ones to save in, that way you get a stronger banking system.

I fully agree, I wish we had a true capitalist economy.

mynameisdave

Edit: Cant read

mynameisdave

redmen9 wrote: »

I have to say I'm quite surprised by the tone of the replies to a youngster who is eager to get himself a home to live in though. Is it not a basic human need to have a roof over your head?

Yeah, but it is not a basic human need to own that roof.

Can you not sympathise with him for not being able to buy his own home and having to pay inflated prices to rent a place to live in?

A little, but suggesting I am worse than a murderer lost him that sympathy

redmen9 wrote: »

Can you not understand his anger and resentment or are you too wrapped up in your own greed and desire to make more money to care about those who have not.

Tesco sell food and make a profit while people go hungry. Hotels have empty bedrooms every night while people shiver on the street. What exactly is your point? People in all walks of life make money out of other people.

redmen9 wrote: »

I suppose that in mocking him your just living up to the perception that he already has of you.

Where is he being mocked for not being able to buy a house? I only see mockery of his likening of BTL to murderers (only investor BTL, people who inherit houses with no mortgage and keep it are cool)

James_N

The OP through his(?) original post and subsequent rants shows a highly simplistic and silly understanding of the complexity of the housing market. The OP can 'strike' as a FTB as much as "he" wants, no-ones moving over to make room for you, so learn to live with it or without it. Your choice.

Quoting a 0.1% fall in prices and other silliness in the SIG again shows a poor grasp. Here's the news: prices are either static or have fallen a tiny amount compared to gains made. Meanwhile, rents for good properties push on. So don't crow about a point something fall too quickly - it's not significant and varies by area and condition. All my wisely bought properties have gained in price despite the last three years chaos.

Like other landlords who have posted, my small portfolio is the result of hard work and careful application. I've paid for my own education, my housing and my kids. Nobody has given me a penny piece, even when we didn't have enough money to get the kids proper shoes (but we did get them proper shoes, even if it meant a very restricted diet for a couple of weeks). Mine is not as extreme as the example of the bloke who left a children's home at 16, but not too far away either.

I suggest you stop whining, get a grip, and apply yourself as others have done before you. Yes I am angry. You are a twit.

Loanranger

B_Blank wrote: »

I have saved enough to use as a rainy day fund, and so I am now trying to save up to get a house, but its going to take forever.

Its not illogical, I am trying to be careful and not get into financial trouble.

Ah, so here is the rub:" it's going to take forever. "
It's your choice to invest your earnings in stocks and shares and bonds. You are a whiny child who doesn't want to spend his pocket money on sweeties because he wants to keep the pocket money to count it every day and then blames everyone but himself because he hasn't got any sweeties.
Do grow up.

redmen9

mynameisdave wrote: »

Yeah, but it is not a basic human need to own that roof.




A little, but suggesting I am worse than a murderer lost him that sympathy



Tesco sell food and make a profit while people go hungry. Hotels have empty bedrooms every night while people shiver on the street. What exactly is your point? People in all walks of life make money out of other people.


Where is he being mocked for not being able to buy a house? I only see mockery of his likening of BTL to murderers (only investor BTL, people who inherit houses with no mortgage and keep it are cool)

Granted, the murderer thing is a bit silly and I can understand that it would grate with some but his point is valid and true.

People do make money from others in society, but with BTL, people are making money at the expense of others, there's where my issue lies.

Property speculation, be it through BTL investors or property developers has priced a generation out of owning their own homes. That might not seem like a big problem to you, after all BTL landlords are offering a service aren't they? Truth is, had those houses not been bought as investments, they would have been bought as homes.

It isn't illegal, though there certainly should be Government legislation to prevent people profiteering from housing, but in my opinion it is immoral and has indirectly lead to the worst financial crisis since the 1930s, probably worse.

You can't blame people, it's human nature, people can't help being greedy, it's the Government and bodies such as the FSA and the Bank of England that should have put measures in place to prevent this happening.

As for the OP being mocked, there are a few suggestions that he should buy a tent, live in a hotel etc in this thread. He is one of many youngsters in this country that the ageing population will depend on for their pensions and old age care. What incentive is there for him to stay in this country when there are no jobs and no homes to buy. He can face the reality of working his plums off and handing half of his wages over to pay off a BTL landlords mortgage.

sarahevie

completely disagree with this notion that a whole generation have been priced out.

At 26, myself and all my friends from uni are now owner occupiers. No, I didn't have parental help, we OH earns the minimum wage if we can do it anyone can.

Adjust your area, aspirations, get on with it