Sunday, Jul 13, 2008
BTL squeezed out the market by the Builders. Who’d of thought?
Scotland on Sunday: Builders turn to rental market as sales fall
HOUSEBUILDERS are turning to the rental sector in a bid to generate income from new properties they cannot sell.
Posted by sosoon @ 11:57 AM (941 views) Add Comment
11 Comments
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1. hpwatcher said...
Here's a revolutionary idea...Drop the asking price!
2. japanese uncle said...
Instead of the gazundering potential buyers, those builders will be facing gazundering pressure every month from the same tenant in the foreseeable future. Inevitable reality in the bear market.
3. sosoon said...
Here’s one for a future addition of the Oxford English dictionary, the opposite of “Equity Release”. “Equity Addition” just remortgage every two years as usual and add £ 10 or 20K to keep you out of negative equity.
I think it’s already a requirement for BTL in all but name.
4. Enuffznuff said...
Hmm. more like equity topup. Thats sounds betterl
5. plato said...
I suppose I'd better tell you what is happening everywhere. Renting as an alternative income to builders is their only hope. This requires more renters obviously. Now how do you increase the number of renters when unemployment is rising?
Correct ! You bring in 'labour' and supply 'education'. You offer assylum (loose terms with multiple real meanings) to those from abroad. The rest is simple-- local councils -- governments -- EEC -- grants -- help -- all paid for with your taxes.
There we are: Renting problem solved.
6. brian t said...
"plenty of underlying demand to buy new properties, but insufficient mortgages..."
Insufficient 100% and over-stretching mortgages, perhaps. You can still get a mortgage if you meet some basic lending criteria, such as: you have a deposit, and you want a mortgage of a sensible size e.g. 3.5x salary. Which is basically turning the clock back 10 years, to the time when Broon said "no more boom and bust". Crivens!
PS pedant mode: it's "Who'd have thought?" Why are people putting "of" in there? I don't get it. Are you just going by the sound, and disregarding what it actually means? GRRRR... I'm getting too old. 8-/
7. sosoon said...
We all have ways of saying things. Like when I see expressions like GRRRR ; I think must be a frustrated tw@t. I personally think if the essence of subject is grasped, to which by your own omission it was. There is no need for off subject drivel.
8. techieman said...
brian - its who'd have thunk or who'd have thought........ sorry thats according to the VI s book of ever increasing prices and englishem grandma.
9. Davip said...
No, it's poor English -- if you're (note: you're, not 'your') going to offer your opinions, then try and make sure the grammar is correct. Being wrong is no crime, but don't try and justify it.
10. This comment has been removed as it was found to be in breach of our Blog Policies.
11. Davip said...
See? Knowing how to say something correctly gets you everywhere