how many REALLY think there'll be a crash rather than a stabilisation ?

bloomsberg78

Melissa177 wrote: »

Seriously, how many STRs are there out there?

I know of no-one who has sold their house to rent instead.

I have, I STR'd last year (in Manchester). I wouldn't recommend STR if the only reason you're selling is because of the impending crash. Although it was a big factor in my decision to STR. Clearly if the math's added up and 10%+ YOY gains were likely and on the cards I may have bought again, but the fact of the matter is they won't. My business case for doing what I have done is based on house prices flat-lining. Any drops would be a bonus for me, 5-7%yoy rises for the next 5 years breaks me even, 7-11%yoy rises makes me worse off and if I have got it completely wrong and prices rise even higher than this, then i'm screwed. But you have to look at the data available and based on everything I see, this is a fairly low risk decision v the risk of purchasing another property.

My circumstances changed, my wife had a baby and we no longer wanted to live in the city. I STR'd and moved to a lovely house in suburbia. Rent is the same as my mortgage and the profit from house sale is more than covering the rent from the interest/investment return and effectively am living rent free. The bonus is of course, that the money that would have been paying my mortgage is now been banked and giving me a bigger pot of money for when I eventually get back on the ladder.

In my situation STR'ing is a no brainer, but am sure it's not right for everyone. Renting gives us the flexibility to take stock and decide where we want to bring up our daughter up and we can move around until we find the right place. Renting is really cheap at the moment. As soon as the sums no longer add up, i will again become a home owner.

Unknown1234_2

Melissa177 wrote: »

Seriously, how many STRs are there out there?

I know of no-one who has sold their house to rent instead.

Thats exaclty what im currently doing : )

free4440273

Melissa_Hewett wrote: »

Thats exaclty what im currently doing : )

sorry to digress, and i might have said this before, but those boobs on your avatar are just incredible!

lypsey

I have sold to rent for the last 2 years , my only regret is that i sold to early. I live in a fantastic house in the country , which is great for the kids , I save hard and my war-chest is growing despite paying rent.
You have to remember that for every 2 pounds you pay over 20 years a pound of that is interest to the bank
When I sold I thought if property drops 25%-30% if I buy the same house I would have virtually no mortgage. I now believe that house will drop by 50%. The headlines all point to a crash of epic proportions
1) Interest rates up from 4% to 6% (by year end)
2) Average wage 23 k , average house 200k means average borrowing 8 times salary. This is a record and normally averages 3.5 times
3) You can see that the total repayments of interest on mortgages and debts is now higher than in the last crash
4) Inflation totally out of control
5) Record oil prices
6) Food , council tax etc rising at a much faster rate than wage increases
7) The average age of the FTB'er is now 32ish
8) BTL muppets are now in deep s££t and the sums do not add up after several rate increases . A decade ago there were 70,000 BTL mortgages , today there are 850,000 , a lot of people are now using it as there pension and the BTL guys exiting the market will cause one of the biggets crashs in history
I would like anyone in any major city to show me how the sums add up on btl today , there are no FTB'ers so therefore who is going to be the bottom rung of the ladder
Something has to give and when it starts it will be BIG

phlash

Melissa_Hewett wrote: »

Thats exaclty what im currently doing : )

You've changed your tune?! I thought you were bullish?

Unknown1234_2

phlash wrote: »

You've changed your tune?! I thought you were bullish?

Im just doing what's best for me and my partner and our path in life

CB1979_2

free4440273 wrote: »

sorry to digress, and i might have said this before, but those boobs on your avatar are just incredible!

again going off topic, agreed the bird is indeed a BOBFOC

Body Off Baywatch, Face Off Crimewatch.

no idea who the pornstar is in the avatar though

nicola1982_2

Melissa_Hewett wrote: »

Im just doing what's best for me and my partner and our path in life

:T

A friend of mine has sold to rent so she can support her disabled partner (who lives far away). She needs the flexibility of knowing that she could move at short notice should he need her too.

Pobby

Leigh_Bush wrote: »

Predictions for the UK housing market[/


Bruno,where do you get your info from????

dolce_vita

Have you seen his latest offering?

uploaded 13 mins ago.

http://www.youtube.com/watch?v=aejBR1Z2s8g

This guy has a serious mental illness.