Renting in your 40's and staring into the abyss

mayonnaise

Crashy_Time wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/204529-new-build-losers/page-6


At least so far they are losing less than the smart renter has put aside, but I expect losses to pick up soon.

Wonderful thread. Countless pictures of houses that have lost value at some point during the last decade or so. Including Rightmove links, google street view screenshots, all carefully uploaded on a picture hosting website. Pure dedication. Time well spent I'd say. :rotfl:

I do love this post by 'dances with sheeple'.

Welcome to modern Britain where you can trade a lifetimes unsatisfying work to
live like a battery hen

Is that the same guy who's hopping from shared houses to rented bedsits well into his fourties? #livingthedream :rotfl:

caronoel

wotsthat wrote: »

They want their cake, they want to eat it and if you'd contribute towards it and light the candles that would be even better.

Much like Fiona from the OP.

Many of the hpc lot don't understand the consequences of a HPC

The last time we saw a crash in the UK was 2008 to early 2009.

house prices dropped 20% or more in many places, but FTBs were unable to get mortgages to take advantage of the once in a generation price drop.

given that the property cycle lasts approximately 15 to 20 years, the next crash is due no earlier than 2023.

how much will prices have risen by then though, is anyone's guess...

wotsthat

caronoel wrote: »

Many of the hpc lot don't understand the consequences of a HPC

The last time we saw a crash in the UK was 2008 to early 2009.

house prices dropped 20% or more in many places, but FTBs were unable to get mortgages to take advantage of the once in a generation price drop.

given that the property cycle lasts approximately 15 to 20 years, the next crash is due no earlier than 2023.

how much will prices have risen by then though, is anyone's guess...

I'm sorry for people who want to buy but can't. Sympathy decreases in proportion to the impact of their own choices though.

As for the HPC lot who would have us believe they're renting whilst sat on cash waiting for the economy to tank just so they can pick up a house cheaper than today I hope they end up renting for ever. If a crash comes along I hope their savings lose a load a value and they're unable to take advantage.

I'm torn though because there was a poster who spent a couple of years calling BTL landlords scum and then went and bought a BTL himself. I wish a large HPC and many voids upon him.

Crashy_Time

wotsthat wrote: »

So some houses are selling for less than they previously sold for?

Thanks for that.

People in various parts of the country paid (borrowed) too much for houses that are now losing value, and they can`t avoid the facts any more, BTL`ers are now the enemy of the government and tax authorities, not their pal, it is a big sea change.

Crashy_Time

mayonnaise wrote: »

Wonderful thread. Countless pictures of houses that have lost value at some point during the last decade or so. Including Rightmove links, google street view screenshots, all carefully uploaded on a picture hosting website. Pure dedication. Time well spent I'd say. :rotfl:

I do love this post by 'dances with sheeple'.


Is that the same guy who's hopping from shared houses to rented bedsits well into his fourties? #livingthedream :rotfl:

Big psychological difference between being a heavily indebted overleveraged battery hen and a debt free cash flow positive one, a bit like the difference between economy eggs and free range actually :rotfl: There are some great discussions on HPC just now about how the tax changes could affect BTL.

Cornucopia

Crashy_Time wrote: »

BTL`ers are now the enemy of the government and tax authorities, not their pal, it is a big sea change.

I don't think that's true. It was inevitable that the Government would make a grab for more tax from BTL (since it was probably under-taxed in the first place). But then, arguably so is private ownership.

I wonder if the next target will be capital gains on all property sales, maybe at a rate of 1-2%, just to see what the effects might be. HPC people should be in favour of this, BTW, as it would take some of the heat out of the market.

The tax authorities have always had the hots for any individual with additional earnings. It's just that BTL (and eBay and all sorts of other things) have made more people additional earners than ever before.

ukcarper

Crashy_Time wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/204529-new-build-losers/page-5

Makes you wonder what Graham and others are complaining about doesn't it

Thrugelmir

Cornucopia wrote: »

Even after participating in several HPI/HPC threads, I still really don't understand what it is that the property bears want. And that's before we even get on to the question of whether what they want is possible, sensible and compatible with our existing governance structures.

Balanced economy and a better culture. Short termism does no one any favours in the longer term.

wotsthat

Crashy_Time wrote: »

People in various parts of the country paid (borrowed) too much for houses that are now losing value, and they can`t avoid the facts any more, BTL`ers are now the enemy of the government and tax authorities, not their pal, it is a big sea change.

All I hear is wolf! wolf!

I still don't see what's so exciting about finding some houses that have sold for less than their last purchase price. It could be novelty value I suppose as they are become rarer. Don't really see why you've shoehorned a few new builds selling at a lower price into being related to tax on BTL's. For all you know it's BTL landlords buying them to take advantage of the opportunity.

I've seen some of the threads on HPC about the BTL tax changes. I did note one bright spark warned against repeated 'premature congratulation'. A condition you've suffered with for many a long year.

wotsthat

Thrugelmir wrote: »

Balanced economy and a better culture. Short termism does no one any favours in the longer term.

I can't see how that sentiment marks you out as being bullish or bearish on house prices to be honest. Someone who is bearish thinks house prices will fall and is probably mixing in a bit of bias by wanting them to fall too and vice versa.

What you're suggesting is that prices should fall - can't see a view there about what you think will happen.