HPC thread of the week

gadgetmind

We're a long way from that in areas with decent yields, but areas where these are thin could see fast moves if the risk of capital losses pays us yet another visit.

Crashy_Time

And as I already explained to Chuck, the government (if not Chuck and the rest of the disciples on here) know that the London market is over-priced, and have decided to help first time buyers again with more crazy HTB schemes, however they are focussing on NEW BUILDS, not old houses that people like Chuck bought back in the early 90`s, so the young generation get helped to take on lot`s of nice banker loans, back stopped by the taxpayer, while people like Chuck see the pool of potential buyers for their property contract even further.

chucknorris

Crashy_Time wrote: »

It does if the buyer is buying your property as a second home or BTL, and it does if the market is flooded with BTL properties that no one wants to buy.

That applies to any property being bought as a BTL, not just existing BTL properties, there isn't anything distinctive about my properties that earmarks them as BTL properties, are you really this foolish that you can't see this?

chucknorris

Crashy_Time wrote: »

And as I already explained to Chuck, the government (if not Chuck and the rest of the disciples on here) know that the London market is over-priced, and have decided to help first time buyers again with more crazy HTB schemes, however they are focussing on NEW BUILDS, not old houses that people like Chuck bought back in the early 90`s, so the young generation get helped to take on lot`s of nice banker loans, back stopped by the taxpayer, while people like Chuck see the pool of potential buyers for their property contract even further.

Are you really that daft? We are sitting on over £4m of equity (net after CGT) in the London market where prices are still rising, but more to the point, have recently surged (so a 10% dip wouldn't be the end of the world), do you really think that I would rather be renting a one bed flat in Edinburgh, rather than owning (no mortgage) my own detached house in Surrey?

Crashy_Time

chucknorris wrote: »

That applies to any property being bought as a BTL, not just existing BTL properties, there isn't anything distinctive about my properties that earmarks them as BTL properties, are you really this foolish that you can't see this?

We have to go step by step with you it seems My main point was that your pool of prospective buyers is affected by the course that Osborne now seems to be on, and that you didn`t see it coming, can we agree on that?

Crashy_Time

chucknorris wrote: »

Are you really that stupid? We are sitting on over £4m of equity in the London market where prices are still rising, but more to the point, have recently surged (so a 10% dip wouldn't be the end of the world), do you really think that I would rather be renting a one bed flat in Edinburgh, rather than owning (no mortgage) my own detached house in Surrey?

But still you seem to leap on any anti-HPI post on here within minutes, if not seconds, banging out the same old mantras and "wisdom" and calling people names etc. Doesn`t really sit with the comfortable wealthy image you like to project IMO. The point was that your chosen business (BTL) and future plans (selling) have just been made more difficult by changes in legislation that you didn`t expect to happen.

chucknorris

Crashy_Time wrote: »

But still you seem to leap on any anti-HPI post on here within minutes, if not seconds, banging out the same old mantras and "wisdom" and calling people names etc. Doesn`t really sit with the comfortable wealthy image you like to project IMO. The point was that your chosen business (BTL) and future plans (selling) have just been made more difficult by changes in legislation that you didn`t expect to happen.

There is a big difference between saying they will crash and saying they have peaked, if you read my recent posts you would see that I don't think there will be any HPI (in real terms in London). I think we have reached the top of the market, look at this that I posted recently:

chucknorris wrote: »

I think in real terms London just simply doesn't represent value (but the problem is that neither does renting there either), if I hadn't invested years ago, or simply bought my own place I'm not sure what I would do (thankfully that isn't a problem that I have to solve). Although there is always the 'I'll downsize (move away) later in life' plan (and hope that there isn't a real correction, rather than merely a cyclical movement).

I've been saying for ages that London has reached its (real term) peak.

Jason74

Crashy_Time wrote: »

You sound like you have joined the Group Think over here in the bunker quite well. Well done. Were you expecting the chancellor to go after BTL quite as hard as he seems to be doing?

There's a real irony in the accusation of group think coming from an HPC regular. The forum here may be quite small in number, but it's certainly diverse in thought in a way that "toe the line or be banned" HPC most certainly is not. I have to admire your sense of humour though.

Oh,, and for the record, I think that the BTL changes are a very good thing, which of course actually illustrates my point about diverse thought over here rather well.

Prothet_of_Doom

gadgetmind wrote: »

I certainly was. No single killing blow, but lots and lots of small moves designed to cause fear, doubt and uncertainty. Regulatory changes, tax changes, now stamp duty, rinse and repeat.

That's the thing. Instability. Definitely good for the economy.

Not.

Thrugelmir

Prothet_of_Doom wrote: »

That's the thing. Instability. Definitely good for the economy.

Not.

No instability on the economy that I can foresee. Plenty of people would buy property if the price is right. Arguably it will improve social stability.

Don't lose sight of the fact that GO is after the top job.........