Buy to Let trash

B_Blank

FTBFun wrote: »

Troll.

He's posted something similar on a thread on the Debate... board.

Yes because all people who disagree with you are trolls right?

How you people can think its right for prices to be driven up by buy to let landlords (which they are - nobody seems to argue with this - even though it obviously isnt the only reason), and then these same people are rewarded with low interest rates and high rents (because of a monopoly of properties) is a scandal.

I am not left or right, I believe in the rights of young people. This buy to let issue is whats wrong with society today, us young people are forever being screwed over to maintain the bubble that your generation built and is trying desperately to cling to.

People should be taxed progressively higher amounts (maybe a new tax called "ownage tax") where they pay an extra £10k a year for every property they own over the first 2 (for more than 2 years) unless they get permission from the council to be exempt - which can be used so developers can do up run down homes and put them back on the market.

It will never happen though because a hit on buy to let people will hurt house prices, and that will make you 35-60 yr olds all get annoyed!

Save4ArainyDay

In your dreams Redmen9 - we are buying the repos and putting down 25% deposits in cash. So we have plenty of equity. Most of us have full time jobs too and/or other streams of income.

Whilst councils are not building houses there is a need for private landlords otherwise where would all these people live?

PasturesNew

googler wrote: »

Avis, Hertz etc buy cars so that they can hire them to the public.
Other businesses buy hand tools and hire them to the public
Others buy heavy plant machinery and hire it to other businesses

Why are rental properties any different?

All people do not need all of these things every day of their life.
People don't need to use a car, they can walk/cycle/bus/etc, or move closer to where they're going, liftshare, car pool etc.

Many people go their entire lives never needing a hand tool.

Many people never have anything to do with heavy plant machinery.

Everybody needs a property to live and thrive in, every day of their lives, it's a basic human need, to have affordable/decent housing every day.

Different thing entirely.

I have never hired a car; I have never needed to hire a hand tool or any heavy plant. I have needed a house every day of my life.

PasturesNew

Save4ArainyDay wrote: »

Whilst councils are not building houses there is a need for private landlords otherwise where would all these people live?

If a property exists, somebody has to own it.
If BTL had never been invented, then there'd be more owner-occupiers and more property groups like housing associations; more big companies/insurance companies/whatever would have bought into it.

I'm sure years ago it was possible to rent places from large faceless organisations, not aware of that these days.

Save4ArainyDay

PasturesNew wrote: »

If a property exists, somebody has to own it.
If BTL had never been invented, then there'd be more owner-occupiers and more property groups like housing associations; more big companies/insurance companies/whatever would have bought into it.

I'm sure years ago it was possible to rent places from large faceless organisations, not aware of that these days.

Yes that still happens big banks, pension funds and even Tescos own loads of properties that are let out - a friend of mine does all the electrical work on Tesco owned house/flats in South Wales

PasturesNew

Years ago, to have property to rent out you tended to be a local proper building firm, building up a portfolio of 1-2 per year, just to keep the staff employed during quiet moments, or you'd inherited it, or you'd applied for a proper business loan and been awarded it on the merits of the business proposal.

Then things changed and you could get one with nothing down.

B_Blank

redmen9 wrote: »

Blimey! Quite surprised by the amount of BTL members on this board, shows how rife it is really.

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?

It is a fact that BTL landlords have driven up the price of homes fuelled by programmes such as Homes Under the Hammer which promote houses as investments rather than their primary basic function, a place to live in. 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? 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.

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

All I'd say to the OP is hold your nerve mate, we are at a tipping point with the whole property scene. Inflation is continuing to rise and with the base rate being kept at an artificial 350 year low, interest rates will have to rise soon. A simple 1% rise which os way below the long term average would trigger carnage in the UK housing market. Job losses continue and the cuts are yet to bite. There's only one way for house prices to go after the huge boom of the 2000's People holding property as investment will have their fingers burnt. Your time will come.

Thanks mate,

I am surprised too.

I agree with those property programs which tend to show these "developers" as cool guys who are rolling in their cash.

It is a dream to own my own home, but it is going to get harder rather than easier in my opinion. These buy to let sharks are everywhere and often has relationships with the estate agents meaning they get "first dibs" on any property that comes on the market. Thus, we are left looked at the overpriced houses

It is so mean to keep pushing house prices up and then exploiting those of us who cant buy with high rental. This isnt a political issue, labour and torys are the same, they look after their 35-50 year old block of voters and us young people can go and root.

Lets see what happens when they all retire and are hoping we will pick up their pension bill I suppose! Not likely when we wont own our own houses and wont be able to pay alot of tax to support them!

Save4ArainyDay

Well BTL Landlords now have to put down 25% in cash. I have never in my life had a 100% or 130% mortgage, plenty of ordinary people have had them though, to fund caravans, luxury holidays, new cars, conservatories etc - living well beyond their means. Their greed and the banks greed has done this to the country not BTL Landlords!

redmen9

Save4ArainyDay wrote: »

In your dreams Redmen9 - we are buying the repos and putting down 25% deposits in cash. So we have plenty of equity. Most of us have full time jobs too and/or other streams of income.

Whilst councils are not building houses there is a need for private landlords otherwise where would all these people live?

Sounds like a gamble. It may pay off for you and then it may not. Reality is, people are feeling the squeeze right now, official rate of inflation is at 4% yet real inflation in what we need to buy daily is closer to 10-15% (food/fuel).

How long do you think people can continue to pay high rents when there budgets are being severly squeezed elsewhere. More and more people working part time, pay increases (unless your in the banking sector) none existant.

We are seeing a shift of wealth from West to East. Our standard of living is going to decline. If you think this a safe environment to invest in property then fair play to you, you're a braver man than I.

B_Blank

Save4ArainyDay wrote: »

In your dreams Redmen9 - we are buying the repos and putting down 25% deposits in cash. So we have plenty of equity. Most of us have full time jobs too and/or other streams of income.

Whilst councils are not building houses there is a need for private landlords otherwise where would all these people live?

Well done, you must be so proud of yourself:T