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House Price Crash Forum


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Everything posted by LiveinHope

  1. That's a good summation of the Labour party, not just Dennis
  2. Any species is focused upon replacement. Each individual only needs one offspring to survive to reproduce to fulfill that objective. If lots of children die before reproducing due to famine or disease or toil, then parents have to have lots of children to get one through to reproduction. Children dying in those circumstances seen in Africa or Brontes Britain is expected. Be fit or lucky enough to make it to reproduce and you'll probably live a long and healthily. Intervening with food to save children's lives because lots of children dying of starvation looks awful on TV is not the solution as you just create a greater problem down the line when the short term food aid disappears. What you need to achieve is an improved economy and child survivorship and then, birth rate should drop as very few parents will want 15 children surviving to become adolescents, unless the state provides incentives.
  3. I've always thought the above is not much use without an inexhaustible supply of bullets. My thought is that it is more useful to be able to run, hide, and survive from the land, so I try to know what plants I can eat and how to hunt animals.
  4. Well, if houses had just followed inflation it should now be £65k. When I looked at it I thought I'd give £60k as a house today given it's location and style. As it needs conversion back to a house, it's probably worth less than it was in 2001, which was £43,500. Priceless.
  5. Yes, there has been a big recruitment drive for foreign students and both foreign students and an increasing number of UK students prefer 'Halls'. It will be interesting to see what happens to the HMOs. I can't see the LLs wanting the expense of converting them back into family homes so they will probably be undesirable unless very, very cheap. And as new homes are being thrown up two a penny, although currently advertised at market prices, I think there will soon be a property glut in Plymouth. The city is a dire place to live, however.
  6. Very good description of traditional LLs vs 118'ers, one who buys cheap to hold and understands yield, and one who only buys to sell and doesn't understand that prices can go down as well as up. Savvy LLs in the student market should have started selling up in Plymouth 3 to 4 years ago as the writing appeared on the wall. Students have also changed too. A greater proportion of students are far less independent than in the cohort 30 years ago, and so they will probably stay happily in 'halls' for all three years given the opportunity. (I think this is another effect of encouraging students who wouldn't normally have considered university to follow a university education). So, a local private rental market that expanded for the increased student numbers is having the ground cut from under its feet. Lovely jubbly.
  7. Plymouth University had been in a dire financial state when of some these student accommodation builds were planned. Page 27 of the 2013-14 financial statement makes astonishing reading. Financial problems aside, it makes sense for any University to find a way to retain student's money. But it will only help if it is spent wisely on student education and facilities, rather than the VC's and other managerial salaries. I do eagerly anticipate the knock on effect on private landlords, however.
  8. Grief. You have a memory. It works for me. GF and I spend very little time indoors and we're quite happy to live with a standard of decoration and fittings that many wouldn't accept as it wouldn't keep up appearances; but if people visit it's the quality of the food and the company that matters; and the food and GFs company is always good. Repairs are just the usual stuff. For example, the immersion element failed last week. I had it fixed within two days and the bill will go to direct to the landlord. On the other had, about 20 tiles fell off the bathroom wall about 3 years ago and they are still stacked on the floor; but that's simply because I haven't been bothered. It isn't like that for all the tenants, however. Some wouldn't see it as their job to arrange the repairs, and so they start a series of fiery letters that leaves them with cold water for longer than necessary. Most of these tenants do come direct from home owning or previous BTLs and so perhaps they have had different or bad experiences in the past. Structurally, the LL doesn't know the expression of a 'stitch in time saves nine'. The back porch is about to fall off and it will take quite a bit of the roof with it. But I won't have a leg to stand on if I commission a repair until it does fall off.
  9. yes, because there is a much reduced student demand for private rental. The area was student land. I expect the same scenario is playing out in many other University towns.
  10. I expect the properties you are seeing are most likely student properties. Soon most student accomodation will be in purpose built flats commissioned by the University This 22 storey block is just nearing completion. Many other tower blocks have been completed in the last 5 years. Private landlords letting to students have seen their market vapourise. It will be interesting to see what happens. I expect prices will tumble as there is no market without conversion back to a home and, as the whole area became student accommodation, it is unlikely that there will be much appeal for an individual to buy and convert an individual property among what remains a road of HMOs.
  11. No, AST. But not a recent BTL, landed gentry. In one way or another, >50% of my income goes to individuals who inherited their ability to extract cash from the workers, whether I'm renting a home, land or moorings. Do I begrudge their 'luck' ?, yes, if I dwell upon it, but as landlords, they all act decently, up until now.
  12. I sit between boomer and millenial. At every time that housing was more affordable in the UK I needed to be too mobile to commit to one place. As a result I've rented for >25 years. It's been much more economical for me than owning; OK I've rented the same private property all that time. I was brought up under the 'home ownership' doctrine. But now, I've no interest in owning a home unless it becomes an affordable option.
  13. I've often wondered if house prices will resolve when millenials lose total interest in owning property because of its lack of affordability, and then, with nobody to sell property to, the boomers will have to just give their houses away. But then, what happens to my other view? That boomer's will have to sell their property and use it's value to pay for their care home fees. Boomer's, or their offspring rubbing their hands at the portfolio they may inherit, may be disappointed, ultimately. A couple of decades may be left for that to play out perhaps. Of course a house price crash could happen sooner for other reasons, with any luck
  14. After no building for years, that type of property is now being thrown up nineteen to the dozen around me, it'll be interesting to see what happens.
  15. In my experience, cash or credit makes no difference now, unfortunately. However, knowing what you are prepared to pay, knowing value, and being ready to buy now, is still as important and influential as ever, as dealers need to make a sale. And the best time to walk in and say I will buy a car today if the price is right, is also always the last day of the month.
  16. Around me (South Devon), I have never understood why people buy that type of New Build estate property at the prices they are offered and sold. Two bedrooms crammed into the attic before you even decide to convert! Is it desperation, lack of imagination, or stupidity? I honestly, could not see living a life in them. We've rented for 25 years rather than buy that sh1t. If in 20-30 years time people don't look at these properties and see them as worthless, the UK will not be a place to be IMO for certain. And if they are worthless, what then ?, and what a waste of materials.
  17. Perhaps Christmas does only come once if you spend £2k
  18. GF and I haven't spent anything extra on this Xmas. The presents we gave consisted of pots of homemade jam and pickle and only 12 of those were given away as they're so valuable!. I confess that I did post 5 cards and GF sent a few more; must try harder. All our friends did pretty-much likewise as we're all so fed up with the falseness.
  19. I had a theory that it was pre-arranged rhetoric that would give Trump and Putin an 'opportunity' to hug and agree to reduce, and so a PR 'coup', unless there's 'something up' in the middle east I'm often wrong
  20. Initially, I typed insightful as inciteful, as that is how that policy made me feel; but I thought someone would come along and correct my spelling. It will have a major impact on the value of money.
  21. That is insightful, and a little worrying for anyone trying to i) profit from their own work and ii) plan their financial future. It's certainly another reason to consider moving to a country less involved in this mess. To use an analogy, I think the economy has entered an extinction vortex.
  22. Given that I received a letter last week saying that my interest rate was dropping from 0.75 to 0.65 from January 16th, I think they have just filled their boots with money from a source that is a cheaper than from savers, whom they don't really need to retain any more. With my cynical hat on, I wonder if perhaps an intended consequence of the cheap money is to drive savers to pour their money into bricks and mortar and then, when all the money is in paying off some of the debt, collapse the market.
  23. Another Boomer benefit. Most FTB newbuilds don't have an attic, it's the 3rd and 4th bedrooms.
  24. As other posters suggest, "you can't scam an honest man", so a willingness to turn a blind eye, after all, it's just exploiting a loophole the IFA recommended, right? And onto that greed, and the IFAs just showing how clever they are, "look how much money I saved you, please keep employing me rather than somebody else" and you end up where they are, hopefully, with HMRC paying a visit.. And to perhaps answer the question of "why not tell the IFA to be honest", well the celebs innate insecurity probably means they feel the need to show they earn than the next guy.
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