Panorama tonight - Bursting the house price bubble.(merged)

Rabiddog_2

I think squatnow lives in a fantasy land, where all BTL-ers eat children and abuse their tenants. Where Tesco and McDonald's are benign corps. And the skys are not cloudy all day. Wishing ruination on other people wont make your own situation better. I'm fairly sure BTL-ers aren't inherently evil. Its not everybody's right to own a property..its only in this European country where "owning" is seen as such a priority. People making provison for their own pension after all the *hi* that we've been sold? I have no problem with that. Rachman No! Ordinary BTL yes...
And on the other program tonite "repo,repo,repo" How on earth did that Bloke make his £27k mortgage balloon to 145K in eight years? If he couldn't afford to pay off a £27k mortgage on even one wage? and they were both supposed to be working :eek:

roddydogs

Watch morning TV "Homes under the Hammer" etc, its all "How can we make a fortune" and "How can we rent for a lot type stuff, encouraging people to push up prices.

Generali

roddydogs wrote: »

Watch morning TV "Homes under the Hammer" etc, its all "How can we make a fortune" and "How can we rent for a lot type stuff, encouraging people to push up prices.

It's the bubble mentality, 'don't miss the boat', 'new paradigm' (remember that for internet stocks in the days when companies didn't need to make profit). It's always the same, people think they're going to get something for nothing or (better) very little and want to hear the message from others, reaffirming just how clever they are to have borrowed a few quid to invest in xxx.com or a piece of Floridian swampland or a BTL place.

peteskies

I finally got around to watching this last night and found it interesting. I agree with the previous post about the bubble mentality (or Nietzsche's 'Herd mentality') - and what a terrible mistake those 'investors' made by not even doing the most basic research themselves before investing in to their properties.

I think with the years of hype and encouragement to invest in the property boom, many ended up forgetting about the real cost and risk involved. Or perhaps it was just greed.

I guess it just goes to show you can never research too much! I have to admit I never realised how fallible the land registry statistics are, so I learnt something new there.

melancholly

SquatNow wrote: »

A professional landlord will provide a well maintained property for a very fair price, with excelent backup service (repairs etc) to attract people to WANT to live there.

BTL works on pricing out the population and giving them no other choice.

i've rented from BTLs who have maintained a good house, asked a fair price and i wanted to live there. i can confirm rabiddog's statement that not all BTLs abuse their tenants! and do you genuinely think that lots of people with BTL mortgages can't be bothered to find tenants?! they have mortgages to cover!!! people who own properties outright currently have less of an incentive to get people in!

a result of lots of BTL is that prices can go up.....that's very different from the point of BTL. it would be great if houses were more affordable, but the running with pitchforks after BTLers that is encouraged is just obsessive!

the current oversupply in the rental market is great for renters - lots of choice, lots of competition - landlords are already competing for tennants! and if they can't find them and can't pay the mortgage the houses will be sold - causing house prices to stagnate or drop and allowing you to laugh with glee while some people face financial ruin.