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The Dark side of the Buy to let boom
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Posts: 223 Forumite
They keep coming yet another article regarding Gordons miracle economy.
http://www.getreading.co.uk/news/2011/2011937/buytolet_is_destroying_reading_communities?rss=yes
Whats to become of our society. An island laid to waste by property speculators.
http://www.getreading.co.uk/news/2011/2011937/buytolet_is_destroying_reading_communities?rss=yes
Whats to become of our society. An island laid to waste by property speculators.
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Comments
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What is the problem?
More big companies buying up property means house prices rising win win situation, great news hopefully they will buy up loads round our area so we can sell all ours at a very very tasty profit and so aid to a very early and comfortable retirement.0 -
pickles110564 wrote: »What is the problem?
More big companies buying up property means house prices rising win win situation, great news hopefully they will buy up loads round our area so we can sell all ours at a very very tasty profit and so aid to a very early and comfortable retirement.
I didn't know trolls got up this early.0 -
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There are 10 types of people in this world. Those who understand binary and those that don't.0
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Well as Reading was the place I was born I would like to comment.I left at age 38 to move to the west country.As a youngster Reading was a good place to be with lots of well established communities.
Today,when I return is a very unpleasant place.It`s overcrowded,filthy and the traffic system is very congested.These old communities are now gone.Little terraced houses split into flats.New build every where.These places are plumbed into the old Victorian sewage system which will not be able to cope.
There is some very violent areas populated by street walkers and pushers.Once an Ok market town is turning into a btl ghetto!0 -
pickles110564 wrote: »What is the problem?
More big companies buying up property means house prices rising win win situation, great news hopefully they will buy up loads round our area so we can sell all ours at a very very tasty profit and so aid to a very early and comfortable retirement.
Until your put into a care home and forced to sell your house to pay for it or they use your hard earned equity savings.
So not a win win situation really.0 -
Whats to become of our society. An island laid to waste by property speculators.
No different to an island already laid waste by stock market investors who care more about dividends than the jobs of the local workforce. See Cadbury etc. Don't blame the problems of the UK on property investment alone.
At least at this point in history peasants like me own some property and gain from HPI. I like people/companies buying property in my area. It increases the price of my property, and that I like. I am going to retire abroad on the proceeds.0 -
Until your put into a care home and forced to sell your house to pay for it or they use your hard earned equity savings.
So not a win win situation really.
???????? This makes no sense.
In my retirement, I am going to sell my property and move abroad. Once there, I am going to use my property fortune to pay for an 18 year old nurse to look after me.0 -
pickles110564 wrote: »Meaning? why would I not want property prices to soar?
I have worked hard all my life, why can't I be rewarded for this?
You are rewarded through your wage packet. You do not "earn" any money due to HPI, it offers no reflection on your abilities or efforts and is merely the luck of the draw.
Personally I hope prices soon come crashing down to historical levels, so that ordinary people can once more afford to buy houses. Of course, then people like you might face a retirement of poverty, but pardon me if I couldn't give a !!!!.0 -
pickles110564 wrote: »Meaning? why would I not want property prices to soar?
I have worked hard all my life, why can't I be rewarded for this?
Inflation is not a 'reward' for those who think they deserve to be richer than they are. Contrary to popular opinion, houses are not a guaranteed pension and should never be thought of as such.
Hard work combined with living below your means will make you rich. It's that simple. No 'rewards' necessary.0
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