Something to cheer the renters up

3under3

dopester wrote: »

IIt wasn't greed or cheating the system - it was pure superior intelligence - of actually recognising the fundamentals involved.

Nah, some have already admitted they called it too early, some got it just right - some are still trying to sell!? In a few years you can guarantee some will be on here wailing that they missed the boat to get back on the ladder, "I wasn't being greedy banking all that ill gotten equity I just wanted to do it for my kids".

borntobefree

neas wrote: »

Ihe people on HPC (me included) would easily think about snapping up a BTL property if they had just come out of a crash.... during the next boom it would be a good investment.

Hi
I wasn't making an ethical judgement. I'm just saying that I don't think property is a particularly good investment. It's too easy to get totally burnt. I would not invest in property EVER, not even in the next boom. I buy my house so I have a home to live in. It's far to easy to get trapped with property and the results are always dire.


http://www.amazon.co.uk/Rich-Dads-Who-Took-Money/dp/0446691828/ref=wl_itt_dp?ie=UTF8&coliid=IB6KRTJPD4U22&colid=3RZLZ19MQB4VN
Read this - Rich Dads Who Took My Money?: Why Slow Investors Lose and How Fast Money Wins

Who's got your money?

borntobefree

dopester wrote: »

I wouldn't call it greed. Remember Krusty telling everyone how daft it was to STR not long ago... how they would be the losers.

There were many people who STR years before now - and crashed and burnt - he wasn't wrong.:cool: It's too hard to judge when to sell property, it's only for the thrill seekers

Pobby

PasturesNew wrote: »

If property prices hadn't gone mad through this speculation, most people could be buying houses at £60-90k now, which at 6% is £390-580/month on a 25 year repayment mortgage.

Yet because of BTL speculation, these people are having to rent at £450-700/month. This has bled the country dry. People don't have any disposable cash to live a life.

There would always have been "proper landlords", but those who wished to buy would have had the choice.

In recent years, because they could borrow more than actual buyers, BTLers pretty much snapped up everything/anything that was going, creating a false illusion of value/worth. Not a real naturally rising market at all.

A bubble.

Darn good post if I may say so.Also it isn`t just about disposable cash to live on, It`s about a nice chunk of money freely, in circulation in the economy. That keeps the wheels turning! Not a chunk of debt tied up in some overpriced, chav infested slum. Now as I recall Jimmy Mac White Heather Club Brooone was the prudent one,the King Canute of boom and bust!!!!

borntobefree

neas wrote: »

well payed people but most have 1 property and missed out on the BTL thing because it never even crossed their mind... they lived comfortable lives and to them a house was a home. Its when homes get turned into investments that problems arise.

I'm sure they are glad they "missed out" on this BTL thing - or maybe they thought "too risky" cos if something looks to good to be true, blah, blah blah.....

FraudBuster

Not read all of this but OP appears to have embarked on a business venture that is starting to turn sour.

Time to take independent professional advice:

http://www.bdl.org.uk/

PasturesNew

neas wrote: »

STRers have realised their profits.. by passing on a stupidly high house to some naive FTBer....

Mine went to a family who wanted a new life and a new business. It was their dream life, in a better place.

They're doing what they want, where they want. And they're not over-stretched or strapped for cash. They invested when they bought; invested in a better life/lifestyle for themselves and their family. And they appear to have done their research right, hitting their target market and providing a service not available in the area.

So I don't feel bad. I feel pleased they could see their dream in the house I sold them. And they are now having the life they dreamed of.

cells

neas wrote: »

Its funny but.... everyone has a vested interest.

The people on HPC (me included) would easily think about snapping up a BTL property if they had just come out of a crash.... during the next boom it would be a good investment. So in general blaming he OP for trying to invest her money isn't the best way because given a role reversal some of us would've done the same thing (except at a different state of the BOOM).

i dont have a problem with her kids BTL, i could not care less even if she has 100 BTL houses/flats

what i object to was her trying to play the saint, look at poor me who was trying to do the best for meh kiddies, now i am hurting becuase of things i didnt have the forsight to see or bother to try learn. OH AND IT WASNT FOR THE MONEY. yeh right


remove the bit in bold and i would have skiped over this thread. BTL-ers dont bother me. someone trying to play the saint when they have no right, that isnt a nice thing to do.

Oliveru

cells wrote: »

i dont have a problem with her kids BTL, i could not care less even if she has 100 BTL houses/flats

what i object to was her trying to play the saint, look at poor me who was trying to do the best for meh kiddies, now i am hurting becuase of things i didnt have the forsight to see or bother to try learn. OH AND IT WASNT FOR THE MONEY. yeh right


remove the bit in bold and i would have skiped over this thread. BTL-ers dont bother me. someone trying to play the saint when they have no right, that isnt a nice thing to do.

Exactly and her thread seemed like a cry out for sympathy which just made it even worse!

seven-day-weekend

I am not from Housepricecrash (which seems full of envious people who take delight in someone else's misfortune).

I do not have a mortgage, nor a b-t-l (although I have had both in the past).

I have not read all the thread so forgive me if this has been answered already.

Right, what I want to ask is this: How does buying a house to rent out push prices up? (This is a serious question)

The house is there, sitting on the market, waiting to be sold. Anyone is free to buy it - it isn't ring-fenced for a prospective landlord.

So the first-time buyers have as much chance of buying it as anyone else don't they?

What's the problem? Have I missed something blindingly obvious?