Sunday, May 03, 2009
Of leeches and scavengers
Times: Many happy returns
"The buy-to-let market is making a comeback as the canny investor’s best bet" ...?!? not quite sure what this means, like the rest of the article
Posted by confused76 @ 09:26 AM (1789 views) Add Comment
13 Comments
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1. Henryweston said...
Just another Times property ramping article, i like the comment under it:
"BTL is scurge of the decade..pricing houses out of reach for many generations...... All tax incentives should be removed immediately.. BTL is NOT a business that should be allowed in a civilised world."
derrick robertson, aberdeen, scotland
2. mytimeisnigh said...
Rents are falling - the rental market is flooded by housing associations buying up new build and people who can't sell at the price they want. Both of these parties can offer more competitively priced rent or better living conditions than the buy to lose scumbags.
3. britishblue said...
The headline and inference is totally wrong which is shameful for a paper like the times. No, Buy-to let isn't making a come backand it is discraceful that a paper that used to be renowned for quality can steep so low.
This guy has bought two properties at a 65% discount from the liquidators of a developer who has gone under. The real current story is that other people who bought those flats two years ago could be looking at a 65% loss on what they paid and how frightening it is that the liquidators/ bank believe that is all they could get given they have many routes to market from property auctions to local estate agents. The real story is that some property is still miles overvalued and the real story why the banks wont give out mortgages is because of this.
4. paul said...
They are taking advice and quotes from Phil Spencer from the fabulously successful Garrington Home Finders.
Nuff said.
5. wdbeast said...
I got as far as;
"In 2006 ........Rather than pump more money into what he saw as an overpriced property market, he invested in Poland and Iceland."
6. crunchy said...
The financial social engineering programme is still alive and well, just.
7. bidin'matime said...
More rubbish from the Times. They never publish my comments - I think I must have been black-listed long ago for pointing out the truth.
8. lenny said...
They never publish mine either, especially after one of my comments to an article by Rosie Millard asked how she was doing with her new Auction property which it looks like she couldn't get the finance for and lost her deposit. Ooops do you think I upset her?
9. house said...
What I do not understand is that they always say that the return on the cash investment is next to nothing. This is not true. You just have to visit the moneysupermarket.com and you will find that on a fixed term investment you are able to obtain between 3% to 4.4%, so where is the benefit of buying property in a falling market when you are gauranteed a return and no tenants or estate agents (VI's).
Perhaps a campaign should be started to let all the poor investors (Lemmings) that there is an alternative to property.
Perhaps there should be a slogan or perhaps any comment should start with "There is an alternative to property investment".
Any comments. Please prove me wrong anybody out there.
10. confused76 said...
how about returns on shares. 30% in the last month
and corporate debt?
houses are going to be a lousy investment for 20 years on!!
11. crunchy said...
Houses have ran there course.
Now for something completely different.
The question is will it be a bull trap? lol. The big boys are as hungry as ever! Buy at rock bottom and they cannot harm you.
Enough said. The crunch.
12. it_is_going_with_a_bang said...
More advertising made to look like an real article.
More of a case of the Times Brochure than Times Newspaper
13. peter_2008 said...
Just checked Rightmove. You CAN by new flats in Warrington WITHOUT discount for about £50,000 to £70,000. £30k to 40k for ex-council flats. That is just ASKING price.
Valued at £120K? The valuer can lick my xss.
Judging by the price, Warrington seems to be hit really hard. I wonder where is the employment to sustain his BTL? Oh, forgot GB is going to pay that.