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Venger

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  1. Many of us already do. There's 1000s of troll-tactics. The Mods will have seen a lot. Also there's some lousy troll radars on HPC. All about 'no trolls' / echo chamber without trolls. Actually no - (Have you ever even read HPC?) Robust debate and disagreement on so many housing issues. However we can push back against resource burn diggy 'wishing misery' / 'wishing recession' x100 trolls imo. Troll/Troll Blindness: You don't allow a different view? From people who only ever claim x100 that HPCers are 'wishing misery on owners'. etc. Been on receiving end of that recently as set out by Neverwhere above... ('insane/hyterical') - I pushed back their position was the hysterical one. Claims they recently bought at £500,000 - but hanging around HPC forum, taking the piss about us being forever-wrong, saying 'the discussion here doesn't really matter' (knocking forum imo) - when that's what I come here for is to read the views of clear minds to try and clearly establish (as best as possible) 'what is going on'.... - positioning that renter-savers should go on 5-year plans to protect owners from pain of falling prices.....(errr I'm the hysterical one?) on and on it goes. Posting up images of 'Still Waiting For HPC' - guy with ice. Just trolling to me (and no need to be thin-skinned if someone gets called a troll... it's not death) and trolls exist who are here to affect morale/hope, and just generally take piss and waste time - others because they are extremely concerned about their BTL/HPI position, and seen quite a few rants.
  2. Although for 10+ years, so many BTLers 'all about me'. In a way though it's a signal that's she's given up on her 28 month effort to make HM Treasury see her 'truth'. All those letters. The 150 page+ Bosher Report, which incredibly for me, then demanded more than dropping S24, into making tenants positions even weaker than they are now. Searching 118 further back there was a thread in 2013/2014 which she latched onto - Busta's: Is Your MP A Landlord Champion. Seeking that all BTLers quiz their MPs to see if they were supportive of landlords in return for their votes. They all got into that one, as the core voting 'power' they believed themselves to be. In the depths of housing financialisation to extremes and all that Gen Rent carry, it has been great fun seeing Ros and other BTLers display their entitlement and narrow world-views to extremes. Blandy once made a great post about Busta. How Busta begins with the good answer he wants for himself at the outset, and then creates many a zany premise that eventually leads to that answer. I didn't really notice much more from Ros after HM Treasury finally got blunt with her (after all of her letters). And of course all the other replies from 2015..... Having drafted a number of replies for ministers, I can confirm this is civil service speak for "**** off and die in a fire". It's also likely that the minister themselves has personally directed not to engage with them any further, which is (or should be) extremely rare. I've only ever seen it used once. Even if they come up with a wizard argument in the next 6 weeks, all they will get back is "it's purdah, no comment". As with most trolling this tactic is primarily a play to the audience. It's resoundingly pointless if the person whose opinion the Galloper is intent on swaying is the same individual whose ability to respond they are trying to drown out with nonsense. Taken together with the frequent insults and denigrating remarks it speaks to a remarkable lack of interest in actually convincing anyone on the receiving end of such correspondence of anything at all. (h/t Pumpkin Muad'Dib for the gif ) Great times (despite it all on the Gen Rent Zany HPI++++ side of things). And now it's off to try and find herself an accountant. SECTION 24. *Bad Language in Video 1*
  3. As far as I can tell, she has become a core Conservative member. There was pic (here?) Facebook / can't remember - a few weeks back of her with T-May. And she wrote something on Conservative website (iirc) - yes here. Anyway it's readying for tax-time, looking for the 'wide-view'. There's a bunch of the regular LL faces on this thread, but it trips me out, so I can only look at it once every 8 weeks or so - and it's not really searchable. https://www.facebook.com/groups/housesofmultipleoccupancy/
  4. Most of the HTB stuff is affordable debt imo - <£200,000. Most renter savers I know still need a mortgage into a HPC. We've got recent buyers (around £500,000) tipping up on HPC claiming 'still waiting for HPC' posting their trolly stuff about HPC predicting 1 in the past 25 crashes and Shining guy frozen 'still waiting'. It's their position, all doubting HPC, and 'adding value by modernisation' and 'it will be mine in 25 year vs nothing in rent.' There market view. A HPC would just be an ego HPC, imo, with mad-gainz long-wave HPIers having to see value of outright homes fall. And other side of HPC, routing out many of the BTLers who decided to lay claim to loads of other homes in an ever greater supply and affordability crisis that they've played their part in causing and feeding upon for so many years.
  5. You do realise you're answering a 7-post new joiner who is all about protecting HPI+++. Who, in those 7 posts, has tried to shaming renter-savers for wanting better value, and hides behind other owners as being more important like a human shield against HPC? All about him. 'Now get back into your rented box and suck it up and stop wishing misery.' Gen Rent Forever, BTLer double down to extremes, long wave HPI, very few owners with mortgages. Market. We (renter-savers/would be upsizers) can position for hope of lower house prices for our families, in a market that has seen plunging levels of homeownership, and extreme housing financialisation, without any guilt. He's the one who is selfish coming on HPC trying to shame priced out renter-savers. House prices can fall with very very few repossessions - (although I know of a lender going after someone at the moment - and that's at the top end. Not all owners are nice btw - sometimes they've brought it upon themselves, with spending extremes, ever more debt, and other property speculation. Just because you've laid claim to a top-end home with a mortgage, remortgaged it 10+ years later, doesn't mean you can stop making payments on it and default and keep it as yours. There has to be adjustments, and if unwilling to, then lenders not always going to just let your continue living there for nothing.) If you fear what HPC may do to your position, why not sell? (F13) New peaky extreme prices in many areas, and very low number of houses on market. You can't have it both ways. You're not the voice of all owners / spokesmen for owners. (F13) Very high prices - they can come to market if they are worried about spilling all their outright mad-gainz. And.... h/t Neverwhere And... Neverwhere: ...16.2% bought their current home within the last ten years (54% of 30%) so 83.8% are either unmortgaged or should have significant equity buffers / should be at a stage in their mortgage where they are making significant capital repayments. Then there is the fact that no one dragged anyone into buying in recent years with big mortgages, outbidding everyone else. Their own choice. Only past week been having an exchange of views with an ACA Accountant who doubts HPC possible, laughs at HPC as being ForeverWrong, and is happy having just bought for near £500,000 (tells us how he will own in 25 years so doesn't matter what price he's paid -vs- what renters do with dead money). His choice. Can't have it both ways, if prices do fall.
  6. That market can do all that by way of correction / market changes / allowing bad money to be found out, and sound money to replace / taxation. You claimed that you once though BTL was just 'a harmless service provision' in the quest to get us to think that millions are just innocent of whatever they choose to do, and that people aren't wrong/play any part in things by their choices. Your constantly changing 'evolving' world view, and where it's wrong... why Gov/others should bail me out, for not my fault/BTLers fault (anyone's fault) for thinking that way (debt jubilees). That's how I see your position. Everyone should be able to do reckless stupid things, and be bailed out for it, because of 'innocence'. Not just that, but you see yourself as an idealistic, but also admit you might buy a BTL if you saw value. How nice that would be for debt-jubilee with savers wiped out, mortgages wiped out, and just you and all the other outright owners vs the impoverished renter-saves. Last time you sang about Debt Jubilees (as outright owner and someone who self-admittedly never has had a mortgage) I told you that that's fine, providing you and all other outright owners give their homes up to the state for redistribution. You remaining as outright owner in debt-jubilee - and admitting you would possibly look to buy a BTL once savers are wiped out. You don't have the high ideals you pretend to have at all - just pure vested interest. Yes of course, outright owner and would-be BTLer. Switch and change, all the time, and society (renter-savers) to pay the price. Debt jubiless/Soverign jubilees, and lock in the HPI, for more Gov debt to protect the positions you set out. Switch and change, BTL, debt-jubilees. And a new BTL to add to it. It can play out. It wouldn't stuff his position. It would only wipe out renter-savers and leave them worse off. And then he can nip in for his BTL 'Mr Principles / Ideals' You and your high ideals and principles Northshore. Just protection of HPI and wiping out the productive as far as I can tell..... as you admit you'd buy a BTL if there was buying value. It's a nonsense from you.
  7. He doesn't see it as possible (23%). His market view. One needs to remember all these exchanges if there is a tilt/change/HPC. No innocence, not coerced, not brainwashed - just other adult market participants willing to pay these prices and embrace the big mortgages. "20-25 years it will be mine." Their market view. It's not on the renter-saver to step in to protect their HPI. I hope the tilt of the market, brings out surge of those wanting/needing lower prices to be more vocal for continuation, and drowns out the 'but I'm special/innocent' types. The (main) banks are in a far stronger position than 2007-09, and BTLers have taken risks away from banks, onto the BTLer. Although I suspect news/statistics may be managed somewhat (if we ever go into HPC). I know for a fact that buyers may find their 23% better buying value 'overnight', without statistics showing 23% falls in wider market value. A small house (but would have been okay for us with an extension - kitchen/bedroom & there was space for that) transacted at 40% below peaky asking price in 2012, into a cooler market (BTLers had retreated a bit). Inheritor (who just wanted the cash, living many miles away from the inherited house). Cut asking price repeatedly over course of a year, then accepted nearly £20K below last asking, to an FTB. 2002-03 price level. Nearly a £100,000 saving for the FTB. My own fault for I didn't expect the seller to take £20K below what had just reduced it to, but other FTB went in with 'cheeky' offer. Then just a few months later came 2013 and HTB, which saw speculators believe Gov stands behind house prices, 'lack of supply' etc. Yet that's another price surge that makes house prices vulnerable to a shock (imo). To me the first stage will be 'overnight' and just a matter of finding the sellers willing to transact, even if those few sales don't bring down wider indices, and that goes on to take years. I see a few Inherited houses on the market (I know of one for sure), but they're currently holding out. £475K range came to market, and since cut asking price (not since Base Rate up). If there a cooler buyer side approach (stress-testing/mortgage rates ticked up) may have to cut and cut to find a buyer. My brother wants to buy such a home for his family at no more than £250,000 and rents and waits. It also needs a lot of money spent on modernising to bring it out of the 1960s - doesn't look like it's had anything spent on it for decades. And no one I know on renter-saver side wants to overpay to inheritors (although some in the market eager and willing to do so.. for houses that can't crash in value and 'will be all theirs in 25 years'). They see 'affordability' imo, of payments under teaser deals, and haven't been asking themselves if it's value for money. They don't see any HPC as possible, and that's their own market view.
  8. Not everywhere, and that is how you are interpreting some policy HTB. I see S24 and other measures. You saw 'contrarian to buy now' and rising. And you have 5-year plans for renter-savers and think that Gov can't let prices fall because it's 'politically unacceptable' to allow prices to fall, and would risk change of Gov. Surprised you haven't thrown in 'banks would collapse'. You're happy with your own adult market choice to buy at something toward £500,000. It's good you can 'attack' the mortgage with work and paying off the debt. I would rather pay less in the first place and I position for that. That is up to each individual renter-saver, depending on their outlook. Lot less than now for me.
  9. We don't need 'forced sellers'. Outright owners faced with a market where sudden drop off in what buyers willing to pay, will be the main trigger imo. Along with BTLers selling off. We only need to be right once. I refuse to pay current prices with big mortgage (2/3rd owners no mortgage), and what has been a BTLer double down to extremes. So what we've had to wait (many renter-savers HPC). It's clearer now that the system allowed more years of the BTLers dancing into buy up more homes. It has taken the HPC risks away from the banks, and onto the speculators. I can pull up my 2014 post where I pointed out it was a trap on the BTLers/greed. And then came in S24 which really changes things for so many BTLers. We just need some reality to return to market (as it was doing in parts in 2012 - house below ('peak 2007 value of £5m, sold for £2m), with fewer buyers pushing and falling over each other to buy, tighter financing, sentiment change, and then a time where older-owners (no mortgages/high equity) accepting much lower prices than peak. That brings all house prices down, when they sell for less. That was held off with more policy response / HTB/QE etc. Also I have younger people in mind, including members of my own family. Needs to be sorted for them. Study, education, into productive work.... to be into a system of older BTLer rentiers and HPIers to extremes? No way. You have your mortgage, and your view that price-didn't-matter for you will own in 25 years. Good for you. Your adult market choice vs renting. You paid your near £500,000 and think you can 'add value' (that will have been most likely priced in by the market). You also don't think you outbid anyone apart from those who went to view the house/put in offers. Your market view. You're a homeowner now. I choose to wait. Section24, 3% SDLT surcharge, talk of Hammond making further moves to homeownersship against the housing speculators in next budget.
  10. Interesting read. Yet one can read the resistance to moves that would tilt things back to homeownership and anything that threatens the blessed HPI. Renters 'depend on' the BTLers, and any sell off 'drives up rents'. They've not been able to build houses faster than speculators been wanting to buy up all the homes, to turn would-be owners into renters. Always 'build more' / 'protect HPI' and (even when don't have BTLs themselves) protective of BTL for it's taken so many homes out of the supply (in the way of 2-10+ homes for 1 person and renting for other families) that they don't want them sold off. Also they can't grasp that markets move at margin. Minority of tenants? If it leads to a wider fall in house prices then it's possible for a big tilt to homeownership - and also get some of the older owners finally downsizing. HPC it.
  11. My focus isn't on those with big mortgages and 'wanting them to sell'. Many do have it good on low-rate fixes at the moment vs incomes. If some struggle, can see that some would do as you say (rent out a room). Even these low rates don't tell full story. Just like the couple with a £500K+ mortgage I quoted above. It's a lot of debt to service, but it is their debt, not mine. The maths can be worse than 15% rate the outrights often berate the priced-out GenRent forevers about + more risk, for far more debt involved. 2/3rds+ owner-occupiers have no mortgage. It's not 'dead-money' / 'high-equity' to own house outright. It's like Samuel L Jackson said in Pulp Fiction; "I'm buying something for my money." (Peace of mind / own home no-or-little debt.) You can't have it both ways. However a point comes in a market where it should make financial sense to sell. That didn't happen despite HPI+++ to extremes in many areas. QE/Global QE. David Smith in Times believes many olders haven't sold (to downsize) for they expected more HPI+. Even HTB can be seen as 'more HPI' tell, by some. Mathematically not everyone can get out of a market with peak price. I don't have any peace-of-mind in this market as a priced out renter-saver, looking at a market with low number of houses for sale, and thought of putting my savings + taking on a huge mortgage, in order to buy a home, with prices as they are. Gen Rent Priced Outs (these house prices, and you see them Winkie with your walks around the plush parts of London). Debt vs your 'pity the dead money of the outright owners and all that equity' ? Vs what renter-savers need to do (huge mortgage) to buy. Question is whether path of economy/financial policy (S24/BTLer sell off) with see some owners tempted to take the mad-gainz and be more amenable to accepting lower prices. A few more such owners accepting less than 'what it is worth peak price' and we get house prices falling. Although there are the millionaire homeowners who go into a rage at thought of owners selling for less than peak, who consider that 'a loss', and then lay in to the priced-out renter savers/Gen Rent.
  12. Thanks Ah-so. (for info and both links. 2nd link; fair-use snippet) Although there's a battle on. For all those who claim older owners never think about the value of their homes, and 99% want lower prices, you just have to read 400+ comments to know that the Protection of HPI is at forefront of many minds, including the BTLers. It's not going to be all about the 'core-voters of HPI/BTL'- other powerful VI in play, including HMRC looking for CGT/tax, and banks for fresh lending, imo (to FTBs/upsiziers). Makes no sense (for them) to have 2/3rd of housing stock with no debt on it, with zany high prices. Makes no sense apart from to the BTLers to have older VI BTLers with loads of homes claimed by 1 person/couple 'providing homes'. Needs a shakeout.
  13. Past year has seen a surge in HPI in main areas I follow. Both in prices paid and asking prices. It may just take the edge of those asking prices, and see more sellers cutting asking price/willing to accept lower prices. It may have some impact of overall sentiment (including outright older owners, where I know so many who think about what it is worth). Need more such owners to market, motivated to sell/more amenable to taking more sensible prices for the financial climate around them. Markets move at margins. Term Funding Scheme scheduled to end Feb 2018, and from memory, banks have tapped that for around £88 Billion (so far) to keep costs of money low. Anyway I think of renter-savers (as I think you do too). Too many years reading about 'pain for homeowners'.
  14. 2/3rds of owner-occupiers have no mortgages. Then loads with mad-gainz equity/nearly paid it off. House prices always depend on what prices active buyers and active sellers decide to transact at. His mortgage not mine. I wait for tilt of more owners coming to market, fewer buyers pushing and falling over to pay very high prices, and more owners willing to accept lower prices. Including older owners who tend to own the better housing stock.
  15. Radio 4 was just going over news-items, and the presenter lady said (something close to), "Hammond is expected to make further moves (in Budget) against those buying homes to invest in, wanting more money invested in businesses.'
  16. That has never been my position. Perhaps I earn more than you. Never had any issues with people earning big money from productive endeavours which adds to the economy. I am impressed by the enterprise of those who are behind HPC (the website/hosting) for example. My position is you/anyone/everyone has to look at the market and make their own choices about renting, buying, selling. I have read all you have set out about the reasons you recently bought a home at something near £500,000. Much of it I see as sentimental stuff (adding value with modernisation whatever), how it's saving you over renting, how it doesn't matter what you'll pay for you'll own it in 20-25 years etc, vs renting. Yet all that is fine. Your market choice. Nothing to do with me, providing you don't expect bailouts if things change on you. Yet you're here making posts about how mortgage-rates didn't immediately go up. All that recent stuff you posted about renter-savers accepting 5-year plans to protect the HPI of their owning neighbours, and prevent 'pain' for owners was just WUM stuff, or just you being very protective of your own position. You made your choice to buy. You can't expect priced-out renters savers to put you before their own needs/family. Your position on 'politically acceptable solution to house price problem' that 'preferably leaves Government in power' - errr BTL to extremes/HPI+++ been politically acceptable. Governments change. Attitudes change. Taxation change (just heard on BBC Radio 4 a claim that Hammond is expected to clamp down further on those buying homes to invest in). You're here most days mocking HPCers (called the last 1 of the last 25 crashes) and you seem to be conflicted in a mix of both happy with your own choice to buy (good choice for vs renting), and yet concerned about losing value. I defend your right against many who claim buyers/owners are 'coerced' / 'brainwashed' /'lacking' etc. You made your own adult market choice - and you're ACA intelligent. Everyone is intelligent enough to make a call against these house prices (rent or buy). You made your choice, and you bought. And I have many issues against the BTLer Financiers and the BTLers themselves. You go on about how most of those with mortgages on low-rate fixes (true), and rates won't really mean much to them. Did you also know that 2/3rd of owner-occupiers have no mortgage (BoE Deputy Governor Broadbent just yesterday - although I have pointed that out for years now... and no better housing value.. and of course there are all the BTLers with claims on millions of homes.). My main view is just need a tilt of more sellers coming to market to cash out on mad-gainz, and more hesitant buyers/fewer proceed-able buyers due to MMR/mortgage rates. However we each need to take a position with housing. You made your choice, I make mine (renting).
  17. What is a waste of time is superior-HPCers claiming there is no real choice between buying and renting. Those who point to tenants as being complicit in keeping the BTLers in rich/advantage positions. When it's the BTLers who, often-time many many years ago (and at it for years with buying more homes, even before tenants were born/started work) have moved in to feed and taken advantage of the young, pricing them out, and buying up millions of homes. Creating the demand they pretend to service. Those who claim 99% of people would want lower house prices (speaking for all people in the market - and speaking nonsense too). And another waste of time is superior egos who see those who buy as 'brainwashed' 'coerced' 'victims' and on and on it goes - because they choose to pay ever higher prices - without knowing anything about each and every buyer, and their outlooks, financial positions and market views. Control squadding arrogance - if you want to find the idiots they should look at themselves. It's a market out there and buyers make their choices, seeing it as better for their money/debt than renting. Just as the ACA Chartered Accountant posted the other day, having recently bought, seeing it as better choice than paying rent - and having a laugh at Count and his view that buyers/owners are idiots. You've all got the right to be wrong. You see it from your view as a 2001 buyer, and the rent you would have wasted if you hadn't been able to buy. Some weren't able to buy, from then to now. Priced out. Renting because can't afford to buy (others choose to pay prices they pay to buy), and BTLer double down. Pointing to VANs. It's not just one couple who rent who are 'speaking Esperanto' - there are priced out Gen Rent Forevers. And there are millions of people happy with their HPI positions. Those who don't see prices falling. Those who expect more HPI. I'm with those who hope/want house prices to fall in many areas, for better affordability, and to see the BTLers come a financial cropper.
  18. I still don't know where you're going with this (still get the sense you think renters... and they are not 1 couple by their own, are to blame for not being able to buy at more affordable prices in the past, during a BTLer double down). Do you understand there are millions of people renting homes from the BTLers?????????????????? Many priced out and unable to afford to buy at current prices/low inventory - and still £10Billions being lent to BTLers each year to buy more homes? BTLers in my area been paying ever higher prices for homes. £300K, £400K family homes, then onto the market as rentals. Old houses/probate houses... BTLer outbid many a family (including HPCers in regional forum who go to view), and back on the market as a rental a few weeks/months later. BTLers doubled-down doubled-down and doubled-down past 15+ years. If you hadn't bought in 2001 prices would have rose anyway. I know !!! Of course. Prices rose because some buyers prepared to pay a lot more than previous prices, pushing all house prices up. However that's been what some on the renter side have done (or later... 2002-2016), with no equity to show for it, as BTLers went on a double-down doubled-down, others paid higher prices, and values soared and soared. Including those appalled by self-cert and BTL - expecting an end to come (and credit-crunch did come) - although on wrong end of policy response that went on to see even more of a BTLer double down in many areas. What about those who were beginning work in 2005 (on a 2-year-contract) with no savings to speak of (indeed a hefty post-graduate loan they had to get stuck into), priced out and still renting. They HAVE paid many years rent. Credit-crunch and most of those areas zoomed again on back of policy (QE/zirp). And yet it's always the 'buyers/owners don't know what they're doing argument' from others, every single week/year, for those who choose to buy - against my position, and those of other renters-savers needing prices to fall. Many buyers seen prices zoom, big equity, and fine positions. What the constant owners-are-victims positioning? If prices fall it's good for renter-savers. You can't have it both ways. And on the same theme, @TheCountOfNowhere still holds that buyers are 'coerced' 10 years more renting and prices doubling on him - it serves him somewhat right to see an ACA Chartered Accountant who has just bought at nearly £500,000 and happy with buying vs renting, come on a thread and ridicule his HPC outlook (The Shires thread etc). Buyers make their own choices Count. Why you looking down on buyers/owners/people all the time, simply because they choose to pay more than you would for a home? It's not all about the owners, but about renter savers vs very high house prices, and BTLism, and plunging rates of homeownership among the young. Buyers of last 2,5,10-20+ years are not ignorant, they're not uninformed, they just have a different market view (and that often includes factors as seeing no HPC risk / more HPI)- perhaps they earn far more or have huge money from BOMAD. They don't need permission from the superior control squad, who spend their lives thinking people have no minds of their own, and coming up with ridiculous answers that there 'is not real choice (apart from buying) - errrrr RENTING. I'm HPCer, priced out, and we hope for better value . Others buy at far higher prices than we can afford. It's called a market. Good. Sadly it wasn't the case (1997). Many have paid the price of housing financialisation, having seen BTLers buy up homes and priced out. Wishes got nothing to do with it, for it happened (housing financialisation / BTLism to extremes, house prices doubling/trebling - doubling and trebling again) is the reality.
  19. Totally agree with those viewpoints. I like the cynicism in attempting to find a reality view - although many in market do just that and jump to easy answers that give me the shivers, to suit their own limited agenda. I mean the search for honest objective market realities, as do you I'm sure. And honest objectivity tells me the BTLers/BTL financiers have been very involved in pricing the young out, creating housing financialistion. And that we have S24 in play. Similar to what I picked up from DiggerUK.
  20. Hehe - that is very similar the same attitude I read in two books about/by Jesse Livermore. Got to take your own bearings, and have your own market view - and be very wary of those selling their own end, and tipsters views. Jesse Livermore 'The Great Bear of Wall Street' (about) Jesse Livermore - his own book
  21. I bet there were people in 2001 claiming buying was bad decision / don't know what you're doing. I can point back to a source many decades ago where Labour guy was claiming borrowers 'didn't know what they were doing'. At all stages of the market the control-squad superiors are there. They don't like other people having their own minds and views which differ to them - and often time can't see that some are earning big money / getting big money from BOMAD / think prices okay (and they are okay for me in some areas). And there's been others since 2003...gazumped on purchase, expecting things to change (credit-crunch did come but policy response resulted in bailout that also was a win for most of those mortgage debt, outright owners, BTLers.. who soon went on a double-down) - still renting. Just because you bought, others have been through exactly what you set out. And why... in large part due to BTLers buying up so many houses and raging HPI+++ with it. I don't understand what you mean. Please tell me you're not laying into tenants - and being a cause/blame. They are ENTIRELY *********** innocent. Are you ever going to ever have a go at the BTLers? What if you had been priced out by foreverHPI raging, with BTLers all around you for 15+ years (credit-crunch going the way it did, with zirp QE £400 BILLION/HTB/BTLer double down) if you had missed out on buying at a then affordable price for you in 2001. It's not all about you having lucked out in 2001 before HPI+++ BTLers really took hold of the market to ever greater extremes. Other people exist. Priced out. Parents who live in backwater - who they may not get on with. Working... wanting a home, but can't afford to buy, so rent. They have no blame.
  22. Oh and from memory the VM lady did say the vast majority of mortgages are fixed rate. (Although as I recall it there are many on quite expensive SVRs too - struggling to qualify for better rates.) Not sure if can rely on this one as a source. Not got time to search out a better source. 2016 about 1 guy http://www.telegraph.co.uk/personal-banking/mortgages/the-great-mortgage-rate-divide-some-pay-099pc-others-are-stuck-o/ https://www.moneywise.co.uk/news/2017-09-12/mortgage-prisoners-face-losing-to-6500-year All those equity rich/outright owner homes as well though. What matters is what buyers into future will/won't pay sellers for houses. Whether houses to market pick up. Sentiment change etc. Unlikely to change quickly imo. S24 ratcheting down on BTLers though. 3% SDLT surcharge. There's never much housing on the market in areas I search - just 4-5 pages per area on RM. And what has been on market always gone SoldSTC pretty quickly at ever higher prices last 2 years. Needs a tilt. There's a few inherited homes (by looks of things) and if money tightens (rates + stress-testing), can hope more such sellers will look to take lower offers... values found/set at the margin. Although sellers may just about keep matching those willing to pay these prices (out of their own adult market-choice free-will decisions, with their own market view, as per our ACA friend recent buyers at something toward £500,000. )
  23. Radio 4 a moment ago. They had a lady on from Virgin Money (I think it was the Chief Exec - Jayne-Anne Gadhia) and asked her if VM going to pass the interest rate on for savers. She carefully answered that VM 'always looks to what rest of banking sector does, and then tries to do better' - she thought entire banking sector would pass it on for savers, 'especially for new customers and the young'. (My memory). I took the view it's going to be savers who have to search out for better rates. Oh and then there was a lot of stuff about house prices being solid/stable, with a happy tone of voice. Yet there were also some points about making sure those taking mortgage can afford them, and something similar for unsecured debt (and it's said that lenders generally are easing back on unsecured debt in future months - I've had one overdraft limit cut recently).
  24. Fair use snippet from within a more detailed subscription article about the Base Rate rise (not FT) - with a view the rise is directly because the economy is weak (overall forecast productivity at just 1%) and prone to inflation, thus meaning higher interest rates to push back against that inflation. (Not that I agree with all of that - rout out the BTLers, get house prices down, and let's get economy going again - people buying homes, upsizing, buying in shops... instead of BTL rentier HPI speculation land.)
  25. Yet the priced-out renter savers have no choice really - apart from tents/vans. If they acted alone, no one would follow (into tents/vans). Rental strike hasn't been possible (yet - could happen one day). My renter-saver friend is not going back to back-of-beyond, 70 miles away from where he works, to live in a box-room at his parents council house, with his wife and 2 kids. (Although I think they've now got a smaller council house than one he grew up in). I know what you're saying, but that's all the more reason to have big issues against the BTLers and the BTLer financiers - that they have chosen to do what they do to exploit the situation to extremes. @iamnumerate - I recalled one of your recent posts, about daughter(s)... living with you... paying lower-rent/lodging?. Sadly not all younger/older people have family homes near work. And many have right to want space for themselves/family - they can't afford to buy so they rent. Yet there's a massive difference between choice in renting and buying. No buyers and prices would fall. And thankfully we have Section24, which anyone who wants to see the BTLers pushed right back should be right behind. I recall you wanting better housing opportunity for your daughter(s)....... HPC is what my family needs, and many other families, for more affordable homeownership - and my view is BTLers need to be pressured into selling off some of the millions of homes they've laid claim to. That includes the BTLers who have been paying £250,000-£500,000 for family homes in my own area. Can't do anything about those who choose to pay these prices/higher prices. If it's been a greed trap in recent years for the moar-homes-for-me specualtor BTLers to dance in, and the BTLers set to take losses (and not bring down the banks), for HPC and younger people to get position, then overall it will be worth it. The BTLers have blame. Sorry @mrtickle - article once again (Took me a few minutes to work out what you meant... then I got it.... (grrrr)... 'nest egg'. It's madness. 2, 3, 5, 10 houses for me, and priced out renter for you. It's greed and extreme selfishness.)
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