House price fall "accelerating"

Microstar_2

paintpot wrote: »

I am a buy to let landlord and I feel no panic whatsoever.

Firstly, I bought them as a long term investment and have no intention of selling them for many years to come.

Secondly, the rent more than covers the mortgage and the rental market is strong,

And I'd buy another BTL tomorrow if I had the cash and it was the right deal.

I think it very much depends upon where you are. In the East Midlands the rental market appears to be rather weak and getting weaker unfortunately...

tomstickland

Badger_Lady wrote: »

But now you're changing your argument again - we were talking about a home as a home, and mine is decorated / laid out the way I want it with "security of tenure" (for want of a better phrase). It is therefore a better home than the rented equivalent

Incidentally, I did buy 3 months ago but couldn't give a sh1te about the current monetary value of my house - it's a meaningless figure in the air until you sell. My mortgage repayments are less than rent would have been, and I've got space for 3 lodgers if I ever felt the need.

I'm so bored of people telling me to sell my home. Why should I?

But you're changing your argument. You originally said that only a fool would pay rent "money that would never be seen again".
Paying interest on a mortgage is also money they will never be seen again.

nelly_2

pinkshoes wrote: »

It says prices are falling, but less houses are actually selling.

That would indicate that those who HAVE to sell are having to accept a lower price due to credit crunch, higher interest rates, the fact that it's christmas/winter, and the unsure market, but others are obviously just not bothering to sell.

Given that there's no inclination that interest rates will rocket, maybe if prices DO drop significantly, every man and his dog will be out there trying to snap up all those properties where people HAVE to sell, while at the same time keeping their own property?!

That means that all those hoping to get on the housing ladder and snap up a bargain could be competing against experienced buyers in a market where there are very few properties for sale.

Are you a glue sniffer?

Rightmoves front page is saying over 1 million houses for sale or rent
exactly how does that fit in with your - there are very few properties for sale ????

nelly_2

tomstickland wrote: »

But you're changing your argument. You originally said that only a fool would pay rent "money that would never be seen again".
Paying interest on a mortgage is also money they will never be seen again.

And all the money we spend in tesco or the pub or on holiday or on a car or on petrol or on clothes or on etc etc etc

people in this cuntry are so guliblby led by those that seek to extort them

The expression 'copy and paste' is not only for links on the internet. It seems many many people have copy/paste minds.

Whereby they have never thought something through for them selves, and never had an original thought themselves at all. They have simply read it somewhere and regurgitated it word for word, without even thinking to think there maybe other avenues

I dont blame education I blame mother nature for allowing survival of the stupidest

tr3mor

nelly wrote: »

people in this cuntry are so guliblby led by those that seek to extort them

I don't suppose you saw Piers Morgan on Question Time t'other night. What an absolute tw*t!

Jonbvn

m00m00 wrote: »

I'd be wary about buying into an area for BTL thinking the students make it viable, and I'd very much look at any expansion plans for the university. In Nottingham many landlords have been caught out by the university's massive building program of it's own to provide student accommodation, and many traditional landlords are selling up, and BTL'ers are being badly burned with their newbuild 'appartments' struggling to sell at anything other than heavy discounts.

Noted, but we're not looking at new build apt. Considering traditional 3 bed houses around the Caerleon area. They seem much more realistically priced to what is available in Cardiff (where I live).

DreamBreaker

pamaris wrote: »

Yes, but that is an attempt to kick start liquidity. Maybe it will work, maybe it won't but lenders will tighten lending regardless. Right now hardly any money is availably to be lent. If money is pumped into the system, it will only be lent at sensible ratios to good credit risks.

I think that the bottom line is that lending has been fast and loose; this is what caused prices to climb so high, and the money just will not be lent recklessly anymore now that the banks must shoulder the risk themselves instead of passing it down the line. With no more 5-6x salary mortgages, prices have to come down. No two ways about it really.

Lending policies have NOT loosened, they have not changed much in years although the media would like you to believe they have as it makes a story for them. Lenders have been lending 5-6 times salary for years, it's really nothing new! Infact lenders quite often lend much more than that if after careful analysis of an application they feel that the applicant can easily afford to pay that debt. It simply is not in the interest of a lender to lend irresponsibly. Not a mortgage lender anyway, we are not talking credit cards here!

DreamBreaker

Badger_Lady wrote: »

But now you're changing your argument again - we were talking about a home as a home, and mine is decorated / laid out the way I want it with "security of tenure" (for want of a better phrase). It is therefore a better home than the rented equivalent

Incidentally, I did buy 3 months ago but couldn't give a sh1te about the current monetary value of my house - it's a meaningless figure in the air until you sell. My mortgage repayments are less than rent would have been, and I've got space for 3 lodgers if I ever felt the need.

I'm so bored of people telling me to sell my home. Why should I?

FANATASTIC POST! LOVE IT! I think you have spoken for many people observing these forums who are in fear of posting for fear of getting attacked by posters like boinging! We have started a revolution on the house price crash forum. Join us on there too, we need people like you to help us have an intelligent debate rather than the doom mongers out their dictating the content of these boards!

:beer:

DreamBreaker

dannyboycey wrote: »

This can be disproved mathematically. It is the reason why many of the 'super-rich' actually rent yachts and planes and even apartments on the advice of top financial advisors. I guess they are just simpletons though.

For give me if I am wrong but don't yacht's and planes depreciate over the long term unlike housing? Is that not the difference?

DreamBreaker

!!!!!!? wrote: »

The fly in the ointment: The UK economy has become so dependant on ever-rising house prices that falls may well trigger an economic recession, putting all our jobs in peril. However, I've got a very good deposit and with the right price I'd be prepared to take the risk of taking on some debt.

Frightening, yes if house prices fall drastically then it is possible it would assist in taking the UK ecconomy into recession - but that alone would not do it obviously. Unfortunately if that does happen you may well be one of the poor souls who looses their job and can't get a mortgage either, then what would happen to your deposit?