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Once Bitten x2 Shy

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Everything posted by Once Bitten x2 Shy

  1. Ok a scenario for you. I understand your sentiments on BTL and you are taking charge of your future which many don't. But why continue to invest in a market at it's peak, than to take your profits and find alternative investments which still have opportunity? Residential property yields what at the moment? 5% (before maintainence, tax etc) if you're lucky? Pension funds available to invest in residential property (so we are told) post April06. Property investment with tax advantages (40% tax relief on contributions, tax free income and no CGT on the way out) Pension funds now can invest in
  2. The Public Sector , the bureaucrats by any chance?
  3. I agree that there will be BTLs which have been bought well, will be maintained for the long term because of the intent of the person doing it. However there are sheep and I am aware of many people who have bought large numbers of properties of plan (with assumed disciunts) with very high levels of gearing and whose asperations were not long term. High Risk scenarios. The pension arguement is s good one, but for most it is still too much hassle and they don't like to get their hands dirty. Apathy reigns - either carry on paying the contributions because it is easier or stop paying - spend th
  4. I can see an album coming on! Who is this great new talent - X factor eat your heart out.
  5. 88 Crash, Are your figures correct, because if they are then this is amazing? I didn't realise the figures were so high. This must then be the huge speculative element of the market and must be the catalyst for the falls in House Prices.
  6. "The bubble has burst mate" I agree, it's just how much and long it will deflate for now. What I see is that house prices are now being cut to try and get some demand going (up to 10%) and if they want to sell than that's more off (90% of asking prices). That's in effect 20% already. I think there will be regional variations with some areas holding up better than others, but where there is clear oversupply and overpricing these areas must suffer more than most. Markets are always driven by sentiment and confidence. The difference this time is the BLTs, some of whom have bought lots of pro
  7. Fantastic, Perhaps you and the Monkey could make sweet music together?
  8. Great article Ray Boulger, senior technical manager at Charcol, the mortgage adviser, said the situation was not necessarily a matter for concern. “The vast majority of our clients are in the market for long-term capital appreciation; if that means that in the short term they have to subsidise rent by a small amount, most people will do that,†he said. He obviously knows a lot of them personally!!!!! A majority of people do not have patience and want instant profits and when these are no longer available with BTLs they will look elsewhere. The trouble is can they sell and still get out
  9. Taking your points here, which I do agree with incidentally, when are the next figures to be released by Hometrack and LR?
  10. Sobering post The govt seem pretty calculating lot to me, so I concur with your comments. They have no real opposition, so are laying off any bad news until after the election. What happens after is anyone's guess, but I think taxes will be increased again, and I think things will become tougher for a lot more people. I remember a few years ago, before the massive increase in house prices, those in the south paid a lot more for their lifestyle including mortgage payments etc, compared to those in the rest of the country. London lifestyle was considered pretty poor due to lower levels of disp
  11. Good post, I know this is local authority tax, but it will hit people's pockets again. I am not exactly sure as to how many people are aware of how much extra tax we are paying since New Labour arrived in 1997. Last year and counting I believe there were 40 + tax increases. Has everyone just got used to paying more tax, or will it start to bite a bit more over the next year? Could this be the straw that breaks the camels back, and lead those who have over borrowed into difficulty? How many more tax increases are we going to see over the coming months, assuming that they do win the next el
  12. Interested in your posting. We have sold as well and are renting whilst we take a leisurely look around. Selling was a nightmare (15 months and eventually the 4th buyer went through) which is why we decided to rent (reduce the chain). Have heard of similar stories, last minute drops in asking prices just before exchange etc, chains falling to pieces etc etc. Choice to sell was due to wanting to move to another area andf renting meant that we could look around as well. Started viewings in Spring 2003 and sold in summer 2004. 3 agents valued the house, variance was nearly 25% between top and
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