How Much Did Your House Earn in 2014 ?

purch

How Much Did Your House Earn in 2014 ?

I'm !!!!ed cos I have fill in it's Tax Return.

It's wired up with superfast Broadband, you'd think it could do it online itself, but NO, just like every year it ends up being down to muggins here to do. :mad:

kabayiri

Hopefully, a salutary tale, to heed/ignore as you see fit.

Back towards the peak /approaching end of the 80s housing boom my then partner and I went to see a company in Winchester, encouraged by her sibling.

The company was a broker setting up 'innovative' mortgage and refinancing schemes which seemed to follow a cycle of mortgage to generate cash / extend / get revalues / remortgage etc etc.

The claim was simple; leverage the increasing asset value in your house to get improvements and upgrades, all seemingly risk free.

The place was packed. Appointment slots were limited to 10 minute sessions, where the 2 chiefs imparted their wisdom. There was certainly a buzz about the place, and I think some people were responding to this.

However, they failed to persuade us arch cynics, much to their annoyance. We left empty handed.

Jump a number of months forward. The market had changed. The company had featured on BBC watchdog or similar and I think the bosses were eventually found guilty of some fraud. We were lucky, and that's all we were. People lost a lot.

The moral of the story, if there is such a thing? For me it's this : it is fine to enjoy stories of your house purchase good fortune, but that does not mean you lose a sense of perspective. I honestly think that up here in the "Grim North (TM Generali)" the perspective is still reasonable, but it sounds very different in London.

Bubble_and_Squeak

Aberdeenangarse wrote: »

We usually get frequent updates from the OP telling us how much their house has gone up in value.They don't seem to have posted for the last few months, I do hope they're OK?

we are but two weeks into 2015 and every piece of news this year on the housing market (apart from something relating to 2014 by halifax) has been bear fodder. as we move towards an era on low inflation there is very little prospect of house price rises in the medium term.
i doubt you'll see anything from the op for several years on this subject.

Bubble_and_Squeak

kabayiri wrote: »

Hopefully, a salutary tale, to heed/ignore as you see fit.

Back towards the peak /approaching end of the 80s housing boom my then partner and I went to see a company in Winchester, encouraged by her sibling.

The company was a broker setting up 'innovative' mortgage and refinancing schemes which seemed to follow a cycle of mortgage to generate cash / extend / get revalues / remortgage etc etc.

The claim was simple; leverage the increasing asset value in your house to get improvements and upgrades, all seemingly risk free.

The place was packed. Appointment slots were limited to 10 minute sessions, where the 2 chiefs imparted their wisdom. There was certainly a buzz about the place, and I think some people were responding to this.

However, they failed to persuade us arch cynics, much to their annoyance. We left empty handed.

Jump a number of months forward. The market had changed. The company had featured on BBC watchdog or similar and I think the bosses were eventually found guilty of some fraud. We were lucky, and that's all we were. People lost a lot.

The moral of the story, if there is such a thing? For me it's this : it is fine to enjoy stories of your house purchase good fortune, but that does not mean you lose a sense of perspective. I honestly think that up here in the "Grim North (TM Generali)" the perspective is still reasonable, but it sounds very different in London.

its different this time!

wotsthat

Bubble_and_Squeak wrote: »

its different this time!

Says the board resident bear who's throwing women and children behind himself in a desperate bid to get on the ladder.

Bubble_and_Squeak

wotsthat wrote: »

Says the board resident bear who's throwing women and children behind himself in a desperate bid to get on the ladder.

making things up AGAIN!
you really should seek some kind of help.
compulsive lying is a disorder.

wotsthat

Bubble_and_Squeak wrote: »

making things up AGAIN!
you really should seek some kind of help.
compulsive lying is a disorder.

6th April 2015 - that's when the boomers get their pension money and will descend upon the East of London looking for pokey holes to buy.

Tick tock.

Bubble_and_Squeak

wotsthat wrote: »

6th April 2015 - that's when the boomers get their pension money and will descend upon the East of London looking for pokey holes to buy.

Tick tock.

sounds like a down and out EA pinning all his/her hopes on a geriatric BTL boom to revive the market.
wait, it IS a down and out EA pinning all his/her hopes on a geriatric BTL boom to revive the market!

mayonnaise

wotsthat wrote: »

6th April 2015 - that's when the boomers get their pension money and will descend upon the East of London looking for pokey holes to buy.

Tick tock.

This pension freedom thingy is going to have a massive impact on the housing market in 2015, especially at the lower end of the market.

32% of respondents said they would consider using some or all of their pension pot to fund the purchase of a buy-to-let property as an alternative to a traditional pension income funded by an annuity.

http://www.professionalpensions.com/professional-pensions/news/2388219/number-of-silver-landlords-set-to-boom-as-third-of-retirement-savers-consider-buy-to-let

Hang on to your hats. 2014 HPI is going to look trivial compared to what's coming.

wotsthat

mayonnaise wrote: »

This pension freedom thingy is going to have a massive impact on the housing market in 2015, especially at the lower end of the market.

http://www.professionalpensions.com/professional-pensions/news/2388219/number-of-silver-landlords-set-to-boom-as-third-of-retirement-savers-consider-buy-to-let

Hang on to your hats. 2014 HPI is going to look trivial compared to what's coming.

I don't see it personally but it looks like B&S will need to get his skates on because undoubtedly there's going to be at least a partial return of his arch enemy - the BOMAD!