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Debate House Prices


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The typical STR attitude

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Comments

  • stonethrower
    stonethrower Posts: 340 Forumite
    I sold to rent and I can tell you I'm far better of now than I was with a mortgage.
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    stonethrower wrote: »
    I sold to rent and I can tell you I'm far better of now than I was with a mortgage.

    Without being disrespectful there isn't an STR who says otherwise (see thread title).
  • mcc100
    mcc100 Posts: 624 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Pimperne1 wrote: »
    Without being disrespectful there isn't an STR who says otherwise (see thread title).

    Just as there isn't a homeowner who says the opposite ..........
  • stonethrower
    stonethrower Posts: 340 Forumite
    Pimperne1 wrote: »
    Without being disrespectful there isn't an STR who says otherwise.

    A bit like the so called bulls who keep on saying houses are going up. I'm no genius but it was far easier in the last few years to make money in virtually everything else other than houses.
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    mcc100 wrote: »
    Just as there isn't a homeowner who says the opposite ..........

    Well I bought a couple of flats in 2007 which have dropped in value. How's that?
  • mcc100
    mcc100 Posts: 624 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Pimperne1 wrote: »
    Well I bought a couple of flats in 2007 which have dropped in value. How's that?

    You clearly want house prices to rise ...... STR's want them to fall.

    Everyone has a vested interest but, at the end of the day, you make the decision that you think is right for you ....
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Pimperne1 wrote: »
    Well I bought a couple of flats in 2007 which have dropped in value. How's that?

    It probably hasn't worked out too badly for you if you bought with decent tracker mortgages as I imagine the additional rental profit will be something near the fall in capital?
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    I dont mind him commenting on hpc, but I cant see what insight this offers into anything.
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    chucknorris wrote: »
    It probably hasn't worked out too badly for you if you bought with decent tracker mortgages as I imagine the additional rental profit will be something near the fall in capital?

    Yes but the fixes have now ended and I only make a very small profit on both of them now. Going to bite the bullet next year and sell them as they are a bit of hassle to me (I am the only landlord interested in keeping the 20 or so flats external stuff up together and looking good so I spend a day a month in summer just grass cutting etc). The upside is that I bought one from my daughter to move her up market so her potential loss is now my loss and that's good news as I can afford it.
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 24 September 2011 at 10:19AM
    Pimperne1 wrote: »
    Yes but the fixes have now ended and I only make a very small profit on both of them now. Going to bite the bullet next year and sell them as they are a bit of hassle to me (I am the only landlord interested in keeping the 20 or so flats external stuff up together and looking good so I spend a day a month in summer just grass cutting etc). The upside is that I bought one from my daughter to move her up market so her potential loss is now my loss and that's good news as I can afford it.

    I meant lifetime trackers rather than fixed for a few years. We bought a house in Feb 2008 and although the value has fallen we have been compensated by the rental profit (the mortgage is only 0.38% above boe base rate).

    I understand about the hassle, we won't be buying any more residential investments, although we are going to explore investing in commercial property in the future.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
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