Media Is Now Predicting A Massive 40% Property Price Crash

bobbymotors

I think you are on a wind up, you can't (or rather shouldn't) run a business on that basis.

I hope the early retirement was worth it in the end. As doesn't sound as if you've planned for the future very well.

Ha ha. well spotted, yes I like a wind up. My son will get them. Plenty of CGT to pay, but, death and taxes and all that...!

bobbymotors

noddynoo wrote: »

bobbymotors wrote: »

yet another rent paying crash hoper, convincing nobody that renting is the way forward.

I deserve it all matey. You know f*** all about me, in my day, in my business, I out worked anybody. Graft, and your wits, that's what it takes...I suspect you are somewhat short on both jealous people often are. no one gave

carrer in comedy when you've finished with proberdee

Not at all...I don't need a career, i've had one already.

However because I worked hard and used my wits I will wake up tomorrow morning about £150 richer than when I went to bed...that's without any increase in the property value, just the rent.

And its thanks to people like you and crashy that are permanent renters that this is so.

So, thanks very much for that.

noddynoo

You're welcome your incessant need to boast is rather strange for someone so successful thats all Enjoy your money it sounds like it has fulfilled you

bobbymotors

noddynoo wrote: »

You're welcome your incessant need to boast is rather strange for someone so successful thats all Enjoy your money it sounds like it has fulfilled you

Well, I've been poor, and I've been rich: but rich is better.

So a big thank you to all HPC'ers who have helped me along the way.

On a more serious note, money is far from the most important thing. None of us will be on or deathbed saying 'if only I had another tenner I'd be alright'. It won't happen.

westernpromise

Barbados is seriously worth thinking about as part of an exit strategy.

To buy a £600k property as a second home there costs about £18k including all legal costs. To buy a place of that price in the UK would cost you £38k in stamp duty alone. For that £600k in Barbados you'd get a 4-bedroom villa with private pool overlooking the sea on an island that's not had a hurricane since the 1950s (they miss to the north). In London you'd get 2 bedrooms in West Hampstead.

The annual property taxes would be about £1,200, so those are cheaper too.

The personal allowance is about the same as here, and you pay 16% income tax above that. There is no CGT and no IHT. Prices are driven by the dollar, so if you are bearish about the cable rate, it is a good hedge. You could sell somewhere in the UK, buy somewhere there, hold it for 10 years and it would likely buy more rather than less than what you sold in the UK if you ever felt the need to move back.

The main difference though is that in the UK, people with £600k second homes are envied and hated by the state. whereas in Barbados. they are welcomed. It's really not worth what I am charged in tax to live here.

It's a thought. You can get a lot for £600k somewhere like Scotland but the weather, people and politics are all nastier and from the south-east of London it takes almost as long to get there.

westernpromise

bobbymotors wrote: »

because I have time as I spend my entire life effectively on holiday, as I managed to retire at 49 due to....property investments....!

How about you? How's the old retirement plan coming along?

Crashy rents a bedsit, so he has the huge advantage of not having a mortgage hanging over his head. Instead he has a lifetime of rent to fund, which is obviously better.

Herzlos

westernpromise wrote: »

It's a thought. You can get a lot for £600k somewhere like Scotland but the weather, people and politics are all nastier and from the south-east of London it takes almost as long to get there.

I always found people generally friendlier from about Middle England and up. Our weather is awful though. £600k gets you a lot of house up here.

AdrianC

There are a lot of very nice places within the UK that £600k gets you a very nice house in a very nice area surrounded by very nice people.

You may not get Caribbean weather, though.

ReadingTim

And only today, the media is also predicting it ain't gonna happen...

Hold the Shard-enfreude – a house price drop is not about to happen

economic

I honestly do not understand why people even bother reading stuff from the media. Not only do they sell fear - they are coming from people who are not even qualified to write such crap. They are only journalists - anyone can do that job.