Right to buy on privately rented homes

MobileSaver

The-Joker wrote: »

Now it is the great financial catastrophe the gfc of 2019

MobileSaver wrote: »

Can you give us a clue as to the ramifications of this "catastrophe of 2019"?

It's interesting that you chose not to answer this, it's almost like you know that you're posting nonsense...

Sailtheworld

The-Joker wrote: »

The question is what will happen as more and more try to sell their rental portfolio all at the same time

I don't want to burst your bubble but BTL mortgages issued for the purpose of buying a house (as opposed to remortgaging) has fallen YoY since 2015. The government trailed their attack on BTL well in advance. The idea that there's going to be a mad rush for the exits is a fantasy.

The first people out will have been those who were highly leveraged. Those left will be in a far better financial position and able to weather the economic cycle without needing to be a distressed seller.

Cakeguts

The-Joker wrote: »

You sum up all the reasons why so many are choosing to get out of BTL

The question is what will happen as more and more try to sell their rental portfolio all at the same time

It is going to be a steady trickle as assured shorthold tenancies end the nicer properties will get sold. The ones in run down areas will probably not get sold because landlords who own those are going to be housing all tenants so they will be able to see a rent rise coming. We are going to return to the kind of rental market for families and not very well off tenants that was there before the introduction of assured shorthold tenancies. So lots of cheap houses in run down, high crime areas, being the only property available to rent to families and build to rent 1 and 2 bed flats available to young singles and couples on high incomes.



Anyone looking to rent long term in a nice area with good schools now should be worried because those are the properties that will get sold.



The private lettings market has been here before it is just history repeating itself. It starts off with security of tenure. Large numbers of landlords sell up. Rents rise because of the reduction in available rental property and then rent controls are introduced. There are many landlords who are retired. They can remember what the rental market was like before the introduction of assured shorthold tenancies. They don't want to be the victims of this interference on a whim by politicians. The people who this is going to hurt most are the people who can't get social housing or a mortgage.

Smellyonion

It is an absolute fallacy that renting should cost more than property ownership. The Germans have much lower levels of property ownership than the UK because renting is cheaper and people are happy to rent (even life long) as house prices are fairly static. The net result is less money tied up in assets, less debt, less risk in the economy and more consumer spending (since rent is cheaper).


In the UK, due to the pure depletion in housing stock, red tape in building on land, increasing property price is seen as the norm where you must own property as your rent is non fixed as it will increase in line with the property's value. The solution is build more house - drastically build more house - new towns - new schools. Eventually when supply matched demand - house prices will not rise and rents will be static and the demand for housing will eventually start falling with falling house prices.

The-Joker

MobileSaver wrote: »

It's interesting that you chose not to answer this, it's almost like you know that you're posting nonsense...

Do you deny the problems from 2008 were just pushed into the future and made much worse?

How do you solve a problem or too much debt? I know more debt😃

MobileSaver

The-Joker wrote: »

Do you deny the problems from 2008 were just pushed into the future and made much worse?

I did not deny anything.

You stated there is going to be "the great financial catastrophe the gfc of 2019." As clearly you are much more financially savvy than me (and prescient too) I have simply asked what the nature of this "catastrophe" will be.

They were your words, surely you can explain in simple terms what you meant?

The-Joker

Rich2808 wrote: »

Alternatively Labour right to buy tenant plan saves first time buyers £50 billion?.....

There are 2.5 million landlords in the UK - and presumably 60 million plus who aren't - and a lot more renters/young people. Do the maths about where the votes are!

Not saying I agree with this specific policy as it won't work in practice - but lets not break out the violins for poor landlords as their days of generous tax breaks and making easy cash on the back of others productive work are coming to a halt.

This post sums up everything

Yes even though most don’t like JCorbn the numbers will vote for him because of all the things he is offering

This is why all the popularity pops don’t mean swag didly

Look at what happened in USA with hilery vs trump all the polls had trump losing same as JCornb at the moment

The-Joker

All the trouble Boris is in lately what with his illegal activities and giving the blond bimbo hundreds of thousands of public funds, it’s looks like JCorb may be in with a chance,

All those that said right to buy private tenancies would never happen, well stranger things have happened

The-Joker

chucknorris wrote: »

I certainly wouldn't get into it now, but leaving is another matter though, mainly because of the capital gains tax bill. It is usually financially better to keep that tax amount invested and working for you you. But it has become a lifestyle issue with me now, the money is secondary.

The way to get out of cap gains Tax is to kick tenants out and move into your rental properties yourself for a year each

Hey presto no cap gains due

lvader

The-Joker wrote: »

All the trouble Boris is in lately what with his illegal activities and giving the blond bimbo hundreds of thousands of public funds, it’s looks like JCorb may be in with a chance,

It's just a distraction tactic, the opposition is trying to bombard his office with stuff in order that he can't concentrate on Brexit.