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House Price Crash Forum


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About Pedro

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  1. To get back to the original topic - I personally think living standards are pretty rubbish already in the UK for those that don't already own their homes (and for those who've bought in the last 10 years too). New build houses & flats have been getting smaller and smaller and overcrowding is getting worse. I have a friend who bought a house about 8 years ago (that was before the worst inflationary increases too!) and it's smaller than the council house her Mum and Dad live in and have lived in for 20 years (it is also just 5 mins down the road). So despite the fact that she and her husb
  2. I find it difficult to believe that rents will increase that much unless we see wage inflation (which doesn't seem to be happening at the moment, at least not in my sector). Rental costs are based on affordability -as many have pointed out. Although house sales are sticking near me, rentals - particularly at the upper end - are sticking even more. I think rents at the lower end may increase a bit (linked to wages / affordability) but at the higher end we'll see rents fall as more people can't sell their homes, have to move, are unwilling to accept low offers to buy and so try and rent - at le
  3. The online article is good, but I passed a copy of the real paper in a newsagent today. This article was front page news and it was pretty bearish (to say the least). I think the headline was something like 'house price falls in Cambridge'. I wish I'd bought a copy now - but I didn't because I always get one for free posted through the letterbox eventually. Surely this is a sign of a shift in sentiment?
  4. So, what should I do if I want to report a past landlord? Is there any reason not to simply submit all past landlords on the off chance some of them have been evading the tax man? (after all, they do enough checks on us - credit, references, seems the least we can do in return is to make sure it's all above board). Presumably, you provide details via the 'self-employed' link?
  5. Yes I've seen this in my area too - Cambridgeshire. Some places had 'for sale' signs for a while which have now changed to 'to let' signs.
  6. Just to reiterate what everyone else has said - it might not be nice, it will be their own fault. I am sure there is ample warning of the possible repercussions within the MEW smallprint. I have little sympathy for people who have been stupid / reckless, particularly since it is predominantly those BBs who have shown a complete disregard for the economic, social and environmental wellbeing of the next generation(s) (whilst being particularly keen on scr*wing them over wherever possible).
  7. Does anyone notice anything strange with the news these days? They seem to be desperately clinging to stories about individuals, one-off events, or manufactured political 'crises' rather than giving any insight on things affected the public at large (i.e. the economy). Is it a deliberate attempt to cover up bad news? There is news on the wider economy here and there but the main evening news tends to focus on stories like Madeline, airplane crash, etc . It was the same during the tube strike (affecting thousands of people and the London economy) - the strike got little to no air time until it
  8. It appears Blair timed his departure to perfection
  9. I agree, but really how many people will feel pain? Most of the population bought years ago. My Mum keeps on saying a house price crash would be the best thing for this country even though they have no mortgage and their house has gone from 70k when they bought it to being 'worth' 500k now. Her view is that having 'made' all that money means nothing because they'll always need somewhere to live so will need to pay close to all the money they've 'made' to buy a new place. Even if they downsize, the extra money they get won't be enough to pay for either of her children to buy a house (something
  10. Yes, there is absolutely no good reason to be a public servant (nurse, fireman etc) in the UK today. Even if you want to help people and are willing to accept a lower quality of life, young people today who choose these careers are facing NEVER owning their own home (unless the market crashes). We need these people - who is going to save all the accounts who are stuck in their homes when it floods, otherwise?
  11. This calculation depends how much the property would sell for. I assumed the property we're renting would sell for £200,000 but I expect it would be put on the market at more like £230 - 240k. It's a bit difficult to tell with ours as it's a period cottage with a modern extension, so a bit unusual and difficult to find direct comparisons. I only think it's worth £200k though (but I haven't bought a house 'cos I think they're all too pricey, so I'm not the best judge). Either way, we're still saving a couple of hundred quid a month which we can put in high interest savings accounts, without the
  12. Thanks for the thoughts. They are using the new TDS, although I think they're holding the money - but this should offer at least some protection. They are also members of ARLA, so I could always complain to them too.
  13. Does anyone have any experience of electric heating? I've been looking at a few places to rent recently and some of them have this which I've never had before. My brother has electric heating in his studio flat and says it's OK, but I'm not sure if this applies to larger properties too. It sounds like you need to plan in advance, and you can't adjust it much during the day, but my question is - is the heating sufficient in the winter? Does anyone have any experience - good or bad?
  14. Yes, so any additional charges this landlord wants to impose after the fact are illegal and the tenants have every right to say 'no'. He cannot evict them because they refuse to just give him money for random reasons. Any additional charges he wants to impose before tenants sign are likely to make his position more difficult in terms of getting tenants in if he is charging for things that other landlords are not in the same area. Shooting himself in the foot is I think the right phrase. I also agree that not paying the last months rent is a bad move, and I think unneccessary with the new tena
  15. I can totally understand the stability thing - I've been kicked out by a BTL'er before and it's a pain. However, the cost of moving while renting is several thousand pounds cheaper than moving when buying / selling - so in this way renting is a lot cheaper too. To be honest, although I think buying is crazy in the current climate, if I knew I was going to stay in the same area for 10 years (or perhaps even 5) I might consider it (for the stability reason) - but I want the flexibility to move to get better jobs, so renting suits me.
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