Tuesday, Oct 30, 2007
Who are the real villains behind the property bubble?
MoneyWeek: Why you should sell out of buy-to-let now
With falling house prices and mortgage approvals, the bad news has been coming thick and fast for the UK property market. And it’s only set to get worse...
Posted by mary @ 12:45 PM (731 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Axxo said...
If you are a " buy to debtor " selling now and delaying completion to April 7th you only pay 18% capital gains... and this 22% saving will cover the potential loss on value....
But most importantly you miss the flood of other " but to debtors " flooding the market next year when we will see land Reg figures ( trusted house price survey ) and the media confirm the 15-20% price reductions that are happening right now!!
2. Ill_handle_it said...
"She described her original decision to buy “as a long-term investment, but I hadn’t anticipated that the property would be so debilitating… now I can’t sell because there are so many apartments in the area. I’m at a desperate stage. I’ve lost an enormous amount of money - about £14,000.” Gunna be a bit more than that sweetheart ! Snigger.
3. dugmug said...
I think someone made a similar comment yesterday, but if this woman can't sell her flat at the £140,000 price she has had it newly valued at, then it isn't "worth" £140,000 at all, as far as the market is concerned. Its "value" will be whatever she actually can sell it for, so she's actually already lost more than this £14,000 sum, but just can't see it yet!
4. Seenitallbefore said...
Amazing isn't it?
Bought as a "long term investment".
But,........at the very first sign of trouble, i.e. losing £14,000 (in theory) she wants to get her money back out.
Where has the "long term view / investment aspect" gone????
More like, "Oh, I thought property always went up, but as I realise now that it doesn't and I've obviously been mislead and it's really not fair and, if that's the way it's going to be...I'M NOT PLAYING ANYMORE and I WAN'T ALL MY MONEY BACK OR ELSE I'M GOING TO STAMP MY FEET AND THROW THE MOTHER ALL TANTRUMS".
5. tony marshall said...
Axxo - no can do - the CGT date is the contract date.
6. uncle tom said...
OK..
'Buy-to-let - sell-in-debt'
Remember - and repeat!
It's taken longer than I first thought - the market has dodged many bullets - but it's happeniong now.
Last time round, at the end of the eighties, I was the lone - and very ridiculed..!. - voice
I was right then, and I'll be right again - and not just on paper.
Since the last crash, I've rarely worked more than 1000 hours a year, and have made more than my modest lifestyle needs for the rest of it's days..
Being perceived as 'wrong' has been good for me..
- funny old world!