Rents soar to (another) record high

gadgetmind

Crashy_Time wrote: »

Many private landlords don`t want benefits claimants.

Thanked as most others in this thread wouldn't have known that.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

So you're too embarrassed. No problem. Enjoy the HMO. I'm loving these historically low interest rates and long fix

As I said, not an HMO and not on the outskirts of anything (only your mind maybe as you seem drugged or something) The low rates didn`t help the would be seller near Leeds in the link I posted, they are called "emergency" rates for a reason.....:rotfl:

Jack_Johnson_the_acorn

Crashy_Time wrote: »

As I said, not an HMO and not on the outskirts of anything (only your mind maybe as you seem drugged or something) The low rates didn`t help the would be seller near Leeds in the link I posted, they are called "emergency" rates for a reason.....:rotfl:

Drugged.... you're the one unable to answer a simple question. BCR or too embarrassed?

What's a sellers position got to do with me in my forever home? No intention of selling.... just enjoying these ridiculously low interest rates. Must make you sick.

gadgetmind

Crashy_Time wrote: »

The low rates didn`t help the would be seller near Leeds

People can get into a fix for all kinds of reasons and a forced seller is never going to get the best price. However, I live in Leeds and the market is very robust, so I can't see someone struggling too much unless the property was basket case regards condition and area.

A house a few doors down from us sold for £1m about 8 years ago, which seemed like a silly sum (still does!). A few months ago, it changed hands again at £1.7m without even going on the market. The buyers have now bought the house next door and have applied for planning permission to demolish it to build a five car garage with guest/staff accommodation above.

Doesn't feel like a crash just yet.

wotsthat

Crashy_Time wrote: »

Many private landlords don`t want benefits claimants.

No I wouldn't either but the comment was to put your £400/ month rent into some sort of context. If the government have decided those who live on the taxpayer should get a bigger budget it's doubtful that £400 gets much of a place in central Edinburgh whether private rented or not.

I'm sure you're pretty thrifty and negotiate a reasonable deal but a £400/ month rental in Edinburgh will be easily identified as a £400/ month rental.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Drugged.... you're the one unable to answer a simple question. BCR or too embarrassed?

What's a sellers position got to do with me in my forever home? No intention of selling.... just enjoying these ridiculously low interest rates. Must make you sick.

If there hadn`t been a bankers rigged property bubble you would have been able to afford a much nicer home, secretly I think that makes you a bit sick.

Crashy_Time

wotsthat wrote: »

No I wouldn't either but the comment was to put your £400/ month rent into some sort of context. If the government have decided those who live on the taxpayer should get a bigger budget it's doubtful that £400 gets much of a place in central Edinburgh whether private rented or not.

I'm sure you're pretty thrifty and negotiate a reasonable deal but a £400/ month rental in Edinburgh will be easily identified as a £400/ month rental.

£400 p.m gets you a one bed flat, and the landlord sets the rent to keep good (working) tenants. The dilemma for the landlord is that although the benefit rate is slightly higher, it comes attached with someone they don`t want in the flat, surely even you can work that out, the benefits person doesn`t care where they live because they are on free money, the worker will get a deal or go elsewhere or share (because they are a sought after tenant)

mwpt

Crashy_Time wrote: »

If there hadn`t been a bankers rigged property bubble you would have been able to afford a much nicer home, secretly I think that makes you a bit sick.

It makes me angry, for sure. My wild guess at where London prices would be now in the absence of market props and suppressed interest rates is about 20-30% lower. That would have been nice.

But that isn't the reality. The reality is that all the electable political parties in the UK like keeping house prices high and most certainly don't want huge falls. Once I realised this I realised I could not beat the system by trying to time the housing market, and I bought.

What do you think will bring the London market crashing down and when? Answers such as : China and soon are pointless hand waving.

Crashy_Time

mwpt wrote: »

It makes me angry, for sure. My wild guess at where London prices would be now in the absence of market props and suppressed interest rates is about 20-30% lower. That would have been nice.

But that isn't the reality. The reality is that all the electable political parties in the UK like keeping house prices high and most certainly don't want huge falls. Once I realised this I realised I could not beat the system by trying to time the housing market, and I bought.

What do you think will bring the London market crashing down and when? Answers such as : China and soon are pointless hand waving.

Sales volumes in the 500k and lower band collapsing, and it will happen well before your mortgage term is up.

mwpt

Crashy_Time wrote: »

Sales volumes in the 500k and lower band collapsing, and it will happen well before your mortgage term is up.

Hand waving. I didn't expect anything else, but it's is fun to get you to think a little more about your position.