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Everything posted by Venger

  1. Only a few hours ago I was double-checking this as well. PDF 2014 General Stuff pre S24 (I presume it's the same clearance type some BTLers are looking at ???) http://www.themillerpartnership.com/wp-content/uploads/Clearances-TAXline-June-2014.pdf And ...subscription (?) https://www.taxation.co.uk/Articles/2016/10/18/335513/readers-forum-buy-let-portfolio Few weeks ago another article suggested being wary of any scheme with a Clearance Number blah blah on it - they suggested it doesn't mean much.
  2. My mind isn't fully-on this evening, but I'm sure you'll work it out kibuc. Impressive HPCer, and thought so by quite a few rent-forever-losers on my side, all HPC minded but way too busy working/family to be active on HPC. Although I'm not going to screenie entire thing because mixed in with some personal me stuff about renting on our side. Edit update: Wow - my fault. It was an analogy ! Switched on tough negotiators like you and would limit costs if/when we do Brexit.
  3. [Money / Debt] For long enough... Back to hunter-gatherers, before farming..........there was nothing to buy. Everyone more or less equal. Always been money and of course, power. Power changes things. When that shopkeeper persuaded the hold-up guy to sell him his gun, a rare misunderstanding by the holdup guy to main rules of the world. Power before money. And power is exerted in many many ways, by criminals and Governments. There was a good article a few weeks ago, setting out in very simple terms, how people don't just 'buy cheapest from China' in capitalism system. I'm not going to search it out to explain to those who don't know. Not a race to the bottom (cheapest). Loads of pukka businesses. BTL ain't no business. Those who think BTL a business calling us the brainwashed, it seems to me. I don't see it as a cultural thing, just BTL/HPI minded individuals long-having and still having the might of the system/market on their side to indulge in it. However; SECTION 24.
  4. We shall see - some of us don't believe that Gov will continually do that. You sure think they will, clearly. And we've got Section24 in play, to the astonishment and horror of many BTLers, with quite a few posting about preparing to sell, and indeed, even about their future bankruptcy. That bodes well to me for a change, vs "Gov won't let it happen / prop them up" post you're making above, which seems all done to impact on enthusiasm of renter-savers. HTB saw so many BTLers double down... straight into Section 24 a few years later. I can call up my posts about it being a trap. "It won't knock us out - it knocks them out." And the BTLers are squealing. S24 is amazing. Yeah 30 posts where you've already ripped into the forum as 'depressing' in your search for non-mainstream view. You have a very mainstream view yourself, wedded to Gov always propping up house prices, don't you think. Certainly that, together with +1-ing the view about misery/plight/pain if any HPC.... by your few posts you're not coming across as 'wanting any HPC'. Then +1-ing a Human Shield position of a new member who comes on to rant about renter-savers who wait for better housing affordability. +1 2014 And a few years more waiting is nothing vs these prices, towards what may be. I know there will be BTLers selling up. Section24... they've danced into Section24. HTB was a signal for BTLers to go in hard, and go in hard they did. Even more 'HTB' requires two sides to the lending equation. They've laid claim to house after house (family homes) at the £250K-£400K level around here (and above).... even Alan Turing's home was bought (somewhere in the £800K level) and soon thereafter came back onto rental market. I pulled up the details from LR.... hahahahaaha is all I'm saying. What a day of posts. We've had game-theory based on 1vs1 chess, and now more 'ball-games' about the housing market, all alone with "Stop wanting house prices to go down". "I'm here on HPC but I always think Gov will prop house prices, this depressing forum." HPI protection-ists are really coming out recent week. Good signal to me.
  5. They've not been able to build houses faster than BTL speculators have been able to buy them. It's okay - I'm done; but still HPC in position. Position as a whole. S24. The front line can't be held (it's not a blog). #Culture Special Circumstances Mode It's not about your having made 3 posts in 2008... it's about your coming back in 2017 with position that you've just bought a house, and your view renters should prefer a 5 year plan with hope of wage inflation, rather than seeing/hoping for prices to fall. !! "People who buy houses don't outbid anyone else really." - (whatever you want to believe as ACA is okay with me). Actually I have a lower-than-normal rental rate, for landlord doesn't want voids. Fortunate to find it in this housing financialisation BTL double down situation. Could easily be £250pm more and another tenant would view it. It came up for rent and we were first to view. Landlord is old and millionaire HPI, not overleveraged, but that won't save him from HPC (if we get it....from other sellers accepting less and transacting at lower prices). BTLers have laid claim to millions of homes - they are the housing crisis. You've paid whatever price you paid to buy a house recently. If it falls in value, it's nowt to do with your priced out renting neighbours. That's a fact. SMI is being cut/changed. I'm only telling you because there if prices fall, you don't seem to be aware it's all on you...not your renting neighbours.
  6. No players no game Option5. False equivalence total weakness.... "no one is really to blame....certainly not BTL landlord." Weak and total nonsense.
  7. Of course they are. Celebrating it. flb and others about landlords not impacting supply; 5+ houses for one older couple, and young couples all renting from them priced out. Tenants who have been served notice for BTLer trying to squeeze them for £50 more a month. BTL Bentley driving lazy multi-property owners. Pic after pic of them in newspapers in recent times... 10, 20 years a BTLer with 5, 10, 20+ properties rented out. HPI protection squad is worried about their HPI. Setting up? It's already here, on-going, and has been for many many years. Working couples carrying it for lazy parasitic 20+ house landlords in their dressing gowns. Although HPC not in any manifesto either, so maybe you agree HPC isn't 'politically acceptable'.
  8. Well you're the ACA..... All your renting neighbours - including myself - less likely to feel that way. Yeah, 'hysterical rants' - maybe - to your hysterically deluded position. HPC on you. Who turns up on forum saying they've just bought a house, that they ACA big-brains, HPC is politically unacceptable, and renters should hope for wage-inflation rather than lower prices. And I've seen one other post showing how you don't want to see your equity fall. 8YI pointed it out to me. I'm not going to quote each post for you will just use it against me. You continue to run your position that HPC forum posts don't matter, in your attempt to protect HPI, and try and murky the actual matters in the housing market. Actual matters where your mortgage is your mortgage - not that of your renting neighbour. I'm not going on your 5 year plan to protect the value of your house. You going to pay up 5 years of rent for me/or any of it - course you're not. Be an adult. You paid the price, outbidding all others, very recently in order to buy a house.
  9. It's not a business (BTL) - and it's imposed hardship on productive workers. Societally destructive greedy investment. Fact you're still calling it a business suggests to me you're still empty headed about Section24. Buying up homes to rent out to workers, while they BTLers nothing/little. They produce nothing. They are just parasitical on the productive. 5 homes+ does impact supply for they have claimed them, at the cost to others, with supply constraint. And so often buying at ever higher prices, beyond working incomes. Only difference is I will point hard at the BTL scum, and that joke about 'sometimes I think Venger and I only want to want HPC.....except not sure if Venger is sure about me" "Yeah....I don't find that funny." (in a Henning Wehn accent) Half-true. Hesitated for some time to tell you that. Well seeing the number of HPI+ protectionists springing up, it's okay with me. You keep claiming that it's "no-lose" to own a house. S24 shaking up the BTL forums with great concerns on their side. ACA? "Just bought house but you renters must think of the pain if prices fall, and think about going on a 5 year plan to hope for wage inflation, rather than want prices to fall." #Any Boy With A Sword Could Beat Three Meryn Trants.
  10. 5 houses for BTL.... mew-buy-mew-buy... 0 houses for younger renter-saver... Of course it causes a housing shortage, but not for the BLTer with 5 houses, rent roll, and in many instances seen mad-gainz for doing **** all. My family weren't born to be paying up to scum (and I mean that) scum BTL landlords who've laid claim to loads of properties out of GREED, buying up lots Even Alan Turing's home in Wilmslow was bought and rented out, not long back (and bought at the £800,000 level). Next you'll be saying that they don't understand the difference between providing and monopolising! Anyway I'm done with discussing it with someone who has recently bought a home, and thinks renters should embrace a 5 year plan where they hope for wage-inflation so that those who've paid high prices (and who has a view that buyers don't outbid many people at all, all but he very closest competing offer). What's the point. HPC. Greed out, clear the way for younger generations, and productive values.
  11. The only reason.....? By their actions they have made it so. Them, and people who thought like them. It has been willed into actuality. By lenders and by greedy speculators, actively involved in causing lack of supply. They didn't build the houses. The newbuilds would have been bought anyway. They have been active in buying older homes. They have created the demand (by buying family homes) that the pretend to service. There's no lack of supply for my landlord - he owns 5 houses. He's kicked back for years not working, living on HPI and younger people's rents. Just the other day story in one paper of a guy who basically retired from University, to buy/mew/buy/mew more and more homes, who is now looking to sell (doesn't want to sell too many in one go, for he fears swamping market and bringing prices of his other homes down).... who doesn't like S24 at all, but worse case scenario will still clear £1m (even with some reasonable HPC from these prices) on sales after CGT. Another just the other day.... BTL landlords since 1998....... more and more to 60 tenants... some career, now going on about a special plight about what a good person he is now he is facing bankruptcy. I am sickened by the number of BTLers out there, all-about-me. The BTL forums. The BTL selfish attitudes. How they see other people. MK-Don, Busta... on and on it goes. Newspaper article after newspaper article recently about BTLers plight and their greedy smug mug-pics in the newspapers. They need to be financially purged out of the system without mercy. And many now have shock of S24 to come with. They can see the conflict. Sleepers told us he doesn't give a f**k about anything but making money in BTL. He just didn't/doesn't care. And get back in our rented-boxes. BalancedBear on and on it goes "And on this day we raise a goblet...." And it's the same for so many other BTLers. This guy with 7 BTLs that Neverwhere replied to - it was all about him.... no sense of caring about anyone put himself. See way too many family/friends pay up to multi-property landlords. And as explored on this thread, hardship for young, and crazy wealth for just a few individuals, all from housing financialisation. And existing owners had some of that, for BTL has taken supply, meaning others pay more, fight over, ever less housing stock (sometimes to extreme prices... but that's their market choice... affecting all other non-owners by pushing prices up). I know all about housing life not being fair - because of BTL speculators and greed. Greed of extremes. Hehe Section 24. We'll see about that Mr BTLer - leverage, unregulated BTL mortgage debt.... as many have found out in the past... they weren't the ones to maintain control, because of greedy overstretch. How markets turn and find them out. Also POWER works two ways. There is pushback. Cause they like to see themselves with all the properties, have power over other people - and they fully believe in shortage which they help to create. HPI and rent roll from younger people who can't afford, in large part because of BTLers such as they having bought up millions of homes. They are hard involved. (BTLers) S24. Seen tenants evicted by landlords for not willing/able to pay up another £50 a month. Just business as usual. We've got loads of homes - well landlords/speculators have. And also so many homes that elderly should downsize from (empty bedrooms) They don't.... see David Smith's article (Times) - they treat HPI+ as an investment (his theory - which I agree with). It's all about housing financialisation. That needs to be tackled before we build more (often crappy ugly homes), for speculators to lay claim to. In bubble world houses are thrown up all too often, small and ugly, because they know someone (speculators/desperate) will buy them.
  12. There's a really good run of posts somewhere... @Neverwhere about how many builds in past 5-10 years seem to have been built by developers with the investor in mind, rather than for owner-occupiers. (Fru-gal ??). I couldn't find.. just a few posts that touch upon it, but not as well as the posts I remember. Small homes, flats, family needs not really in mind. Just lower quality, in out, rent-seek. How bubble/HPI/BTL housing financialisation may have hard massive (negative) effects on housing stock built past decade or two. Anyway, I can't agree with supply issues, when I have seen so many speculators lay claim to houses. And without HPC/wider downturn of bubble money, it's just more speculation on speculation on any new builds built. However we also have S24 and other things that may tilt market. "Trees cannot in the end grow to the sky." ...trees..... ?
  13. Yes but we don't need many people to sell, to bring prices down. You need all/most owners to not need to sell (at any real drop from where we are now), to keep prices high (+ Govt keeping on your side / BoE keeping on your side... if it actually is) Have you noticed some sellers more inclined to take lower prices... I'm not sure if it's true but there are reports of it in London. Kept up on Section24 and BTLers claiming they face bankruptcy? With 10, 20+ homes they've laid claim to. And then just many BTLers seeking to sell... murmurs... soaked up for now by proceed-able demand..... for now. Pretcher continued Although we take our market positions. You have yours with a property rented out abroad, and recent bought property in the UK to live in. I have my position on the Rent Forver Loser side -vs- there will be no hpc minds / shamers for wanting better value / HPIers / BTLers... Gov wont let it happen-ers.
  14. This isn't it but nevertheless also touches on same viewpoints. I can't be bothered to read about 'lack of supply / lack of supply' when I've seen BTLers gobble up house after house after house in my area during the last 8 years. And at mad-higher prices. MEW, buy... rent out. If we don't get HPC/correction, it's just more speculators on the new supply. And because they try and fix the wrong answer, including with HTB, fewer sellers because they don't fear price drops (not enough supply).
  15. Still searching my History - but I have feeling I won't be able to find it... it was hot with so many good reasons about our housing market that does not work to rational economic theories. There was also this one... 'reasonably interesting'. https://medium.com/@ian.mulheirn/2-1-billion-square-metres-to-swing-a-cat-in-b1f13ee7ad6b
  16. Can only do the HPC post by DrBuyToLeech - very very good. Article the other day was from a source I can't easily search... very very good in other ways. Although you're introducing something else there, about building where you want to (even I don't want to see that - seen some right crappy places - we need certain regs) My point was about how we've had years of very low inventory on market, in blistering to extreme to new extreme areas of the country for HPI. Very few tempted out to sell..... housing market (supply contained) isn't like other markets. Mad gainz not tempting out sellers, sometimes because anticipate further HPI. Another BTL for you down South Kensington?
  17. Read a great post the other day for why this has not been happening. drbuytoleech has touched on a few of the reasons as well. Why housing not anything to do with 'basic economic reasoning'.
  18. My view is that they took the view the economy/banks/society couldn't handle it. That they've allowed a BTLer/speculator double-down. ....2008---2017 Can't find what I was looking for on Twitter (so difficult to search)... 2016 Merv King 'welcome lower house prices'. And to get there I have to believe they've allowed greed/speculators to double down. They have the equity to smooth out the losses ahead (HPC) rather than banks. Although not certain; Carney recently again putting it all on 'lack of supply'. That's just plain simple 'managing expectations' and such a limited view, imo - and also suggests to me still some way from 'allowing' HPC. Often speculators... I've seen a property sell from BTLer to BTLer to BTLer since 2009++ mostly at higher prices, but last one may have taken some loss after costs. Things change.. and BTLism can change hard... All those improvements.. vehicles.. but backwardisation in housing tenure. Greed.
  19. Yeah but that's exactly what the BTLers say about Section24; "not fair - it wasn't in their manifesto - we're core voters'. x 1000 posts I've read it. Back from their initial view that they would soon change Conservative minds about S24, to ever growing shock and disbelief - then all the letter writing about how they are core-voter special BTLers. This part they got right... Life doesn't work that way. ForeverHPI / BTL++++ wasn't in any manifesto I read. Imposed on me in the new e-con-o-meh. Sounds reasonable to me. And I think it's 'not been enough yet'. There's been perception of banks/govt fully commited to HPI/protecting house prices... and I saw one Bomad in 2015: "You may get dribs and drabs of better value, but not even that in expensive areas." Money all stumped up to help upsize. Headwinds, from these prices levels can result in sharp volatility imo. You don't need that many sellers, selling for lower prices, to bring values down sharply (imo). So I disagree with your view that if tighter lending does begin to tilt priced down, as wider market realises banks aren't powering it so much, that 'rich' will step in and more BOMAD. Not in a market where there is real sense of turn/tighter lending. There could be cascade falls. You've also made plenty of posts about volatility, including risks from speculators pulling out/selling. Good. It doesn't matter if we can't immediately see why it has turned. If we can't see every single reason (we've got a good grasp of a many triggers that could turn the market - many a combination). We can leave that to later... after it has turned, Gen Rent isn't being farmed, prices have corrected, money is being spent in productive economy. We can come back to that. All that matters is it turns. And BTLers have lots of problems ahead... right now in fact for some of them. Mr.Nimrod posting about bankruptcy ahead as 20 years a BTLer, with 60 tenants.
  20. I know zugzwang - I know.... And he's just won planning approval - after many years of trying to get it - for an Icerberg basement for his classic car collection...(according to one news report I recently read).
  21. Just to be clear... an apartment in Manchester they rented from a landlord - and where I got a strange sensation of being on a treadmill whenever I went to visit, walking down the corridor. Just felt like not getting any further down the corridor, towards their door. Corridor goes on and on and on... past doors that are all the same. (They've since moved on to another rental, out of the city.... babies.) Apartment in Manchester... where a landlord who drives around in top of the range Bentley who owns loads of Manchester properties. Where some tight-fisted landlord served notice on friends a few doors down because they wouldn't agree to a £25/£50 rent-raise. Got someone in who would. (**********) It wasn't that easy to get the debit-card refund either. Had to show receipt about the refund (all processed before happy-dayz full-store went into administration). It was a table or something, and his wife mentioned them having just bought it. I had to tell her what I had just read... (read on HPC..... about concerns to their financial position). They kept me informed. He found it hard to believe (administration) for everything had looked some hustle and bustle, happy faces. Days later (after getting a refund processed) store is closed... all locked up/sign up.
  22. I accept this part, but I think we've had the period of cash rich buying in. Banks have been restructuring. Time may come when speculators/ BOMADS/HPIers/ work out they have been taking all the risks, and far less so the banks. And you tell me banks make money on transactions/churn, and for that they will require lower prices. Yet we can still have a crash, where speculators/HPIers have to give up mad-gainz, and banks in position to handle it..... and there are VIs in out there who want banks to do well (shareholders) which means mortgage lending on lower prices. What the hell use it it for banks to see millions of homes owned outright worth fortunes? Or owned by foreign speculators. They have no debt on them / non voting speculators can be squeezed. Other people who want less money locked up in unproductive housing, but spent in productive economy (I would spend more in economy with lower house prices/not renting---- go to furniture shop..... although my pal nearly got caught out at Dwell -furniture- for his rented place, just before they went under...... - may have come out of adminitration since - had it not been for HPC I wouldn't have had advance warning to tell him to go and ask for a refund and that got processed days before they went under.) And not everything will be done to protect older people's HPI, imo. They believe themselves 'core-voters' - but look how the BTLers/118ers were astonished at the move on them. Absolutely astonished and defenceless. They thought themselves the power. They began their letter campaign. They were/are nothing against power.
  23. Okay I get it - thanks. Although some of it is for Demo to think on/answer about. My view is there is enough power and control in Government to do certain things. There are intelligent people highly involved - at many different levels (including in the Treasury and in HMRC). Yes, they are not omnipotent and can't control all aspects of market, but their powers are real and have effect day-to-day (right now). True things can run to extreme where they lose control of matters, and even seen markets overpower Govt's wishes (ERM and trying to maintain the pound). Govt/Treasury was forced to beat an expensive retreat. I don't care for the view that we're run by simpletons with no powers. And I hold with my view that BTL/easy-money/HPI+++++ occurred because it suited a greed-paradigm, at the time, during HPI Bubble 1.0 years, from power on all sides, including older homeowners, and G's no-more-boom-and-bust, easy money for everything for votes economy, totally overwhelming those who held to productive values. And then people took it as the new-normal, including bankers pulling out big bonuses. If FSA/Treasury/BoE not looking over them.... in fact G coming to congratulate them at one of the Bankers Dinners (Mansion House?) just before the credit-crunch on the prosperity they had brought / he had wanted / HPIers had wanted / BTLers adored........ Sometimes the system as a whole is drawn into situations where things have to be done that are not vote winning for core-voters, vs alternatives that are even worse. And there are other parts of the economy to think of as well - vs mad-gainzers. My hope is the BTLers/HPIers are the saps who danced into a greed-trap. They took on more lending, and they have the equity to absorb a HPC. Even HTB saw BTLers rush to double-down, thinking it was Gen-Rent forever. Maybe they don't want to seen as triggering it, but why did Treasury/BoE sit over HPI 2000-2007..... 2010-2017 (BTLer double down). They may still trigger it all the same... .... I mean you had your view about evidence of Government/Conservatives/Treasury beginning that journey... Where's the democratic mandate for HPI vs Corbyn/younger people? What about all that stuff about fairness and politicians not giving a fig who they throw under the bus? FreeTrader put that best.... with the view it won't always be renter-savers/young people. About face-ripping...? I was later convinced by Pipllman's view that CGT charge is made after sale/after mortgage repaid to lenders - HMRC don't get first dabs. Although interesting how things are being sped along for CGT with requirements to report sooner to HMRC. Section 24..... / Treasury. So many easy-life HPIers from all sides were gagging for easy life answers/solutions.... moar and moar mad-gainz HPI+++ year-on-year. And I can't work out your view about lower lending not going to be enough... and 'cash-rich' just going to buy up houses if they begin to fall. It's not been enough yet... but time will come when it may be (for HPC). I've already seen Bomad doubled-down. They will be paralysed if prices begin to drop, and won't be in the market (to any significant extent). Values can cascade. They are set at the margin. Just as prices can rocket (seen it here during the BTLers double down since 2013, far more BTLers involved in buying than HTB.... but now S24 / 3% SDTL surcharge / tighter lending with lending criteria upto 140% rent cover?).
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