Rents soar to (another) record high

gadgetmind

Crashy_Time wrote: »

Living with two lodgers while trying to study is a s*hit way to live though

She's been in HMOs for four years, and there are stresses, but at least she's now in a nice place and has control over maintenance. She's never been happier.

what happens when the house reverts back to being worth 80k or less?

House prices are volatile. As long as she's not a forced seller (unlikely as she'd just rent it out) then this volatility can be ridden out.

I suppose you can comfort yourselves that the "lodgers" picked up most of the tab when it all goes pear shaped.

That's what makes the numbers work now. When she qualifies as a Doctor (4th year medic now) she'll have other options.

BTW, why quotes around "lodgers"? They are occupying rooms in her house and have signed lodger agreements. Income is tax free under the "rent a room" rules.

Your post is a great example of everything that is wrong with the UK and it`s broken property market.

Fine, let's say for argument that it's broken. At least she's making this breakage work for her rather than paying 2.5x the cost of loan interest to live in a damp and tatty rented house while making an abusive landlord rich.

If you think people pay silly money for houses, just look at what some silly sods pay in rent to live in a house someone else owns!

gadgetmind

mwpt wrote: »

What is amusing is that one day he will be correct, the market will suffer a crash

The market will crash the day after he says "sod it" and buys somewhere.

Jack_Johnson_the_acorn

HAMISH_MCTAVISH wrote: »

He's been doing it for at least the last 9 years....

If you look up the definition of 'mindless troll' in the dictionary it says 'Crashy Time'.

No I think the fact he's been doing it for so long demonstrates that he actually believes it..... scary :eek:

System

Just get people out of renting, that'll cut costs without needing to increase supply

Renting made inefficient by landlords profit, by the tax the landlord has to pay, by insurance, borrowing a whole property (when you may not need to) that's on a more expensive mortgage, etc

HAMISH_MCTAVISH

Jack_Johnson_the_acorn wrote: »

No I think the fact he's been doing it for so long demonstrates that he actually believes it..... scary :

Nobody could be that out of touch with reality, could they? :eek:

wotsthat

HAMISH_MCTAVISH wrote: »

Nobody could be that out of touch with reality, could they? :eek:

For whatever reason he became massively debt averse and was looking for a way to rationalise this. I imagine his lightbulb moment came when he found HPC and people talking about tulips and ponzis.

He'll never buy unless it's with cash (I rather doubt he'll ever buy given he's also got a liquidity fetish) Given how long he's rented for it'll never now be anything other than a very expensive way to buy. If he gets some satisfaction from having stayed debt free good for him but I don't know why he has such a problem with people (sheeple) who choose the more conventional and cheaper route of buying with a mortgage.

He seems happy enough with his choices and I'm pleased for him and his landlords.

Jack_Johnson_the_acorn

wotsthat wrote: »

For whatever reason he became massively debt averse and was looking for a way to rationalise this. I imagine his lightbulb moment came when he found HPC and people talking about tulips and ponzis.

He'll never buy unless it's with cash (I rather doubt he'll ever buy given he's also got a liquidity fetish) Given how long he's rented for it'll never now be anything other than a very expensive way to buy. If he gets some satisfaction from having stayed debt free good for him but I don't know why he has such a problem with people (sheeple) who choose the more conventional and cheaper route of buying with a mortgage.

He seems happy enough with his choices and I'm pleased for him and his landlords.

Nail, head.



More words

Rich2808

These statistics presumably only pick up rental agreements via these agents.

New rents are probably going to be higher than those for existing tenants who agree separately with landlords and have long term agreements. Better to have a good tenant on a lower rent than a bad tenant with voids.

Crashy_Time

HAMISH_MCTAVISH wrote: »

Nobody could be that out of touch with reality, could they? :eek:

Just answer yes or no Hamish, were you expecting Aberdeen to crash?

Crashy_Time

http://www.rightmove.co.uk/property-to-rent/property-53957110.html


450 p.m seems to be where Aberdeen landlords with basic flats are clustering in their panic to get tenants, although anything with the bed in the living room isn`t worth even that, my last flat in Edinburgh went up to 450 p.m (from 400) for about the last year of a seven year run, but that was one bed and a box-room, plus large kitchen and living room. Were you really expecting rents to "soar" Hamish, or did you just get carried away when you were watching LLL re-runs or something?