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Richmond

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  1. Or maybe poor hiring that resulted in the wrong sort of people.
  2. Nah, if you have no deposit you can't get a mortgage and can't buy (even if you have good income). This lets people buy who couldn't do normally. Reducing the price by 5% wouldn't have the same effect.
  3. I still don't get it. The Canada deal eliminated what, 99% of tariffs. How come they could get away with it without joining EEA? As I understand creating a FTA between two countries (or group of countries) is completely legal (and would look like frictionless trade).
  4. I don't think this is true. Otherwise every trade deal with a third country would automatically apply to all other third countries. So a deal with say Canada is a deal the whole world get. Which treaties forbid free trade deals between countries? Will Canada join the EEA?
  5. If it is taxed at source (PAYE) then you never see the money. So it doesn't feel so bad. If you are taxed after the money hits your account, then you are more likely to feel aggrieved that they are 'stealing' your money. Even more so if you have spent all your money that month and then the bill hits.
  6. I do wonder why the remain campaign didn't focus on this exit bill. I don't remember this being made clear (just a generic we will be poorer). Did they not foresee this possibility? I would agree, if this was clear it may have swung the vote the other way. The leave campaign did a good job of having a big number and focusing on it - this could have helped remain
  7. For me, it is gambling if you are selling your primary residence at X in the hope of buying the same or better property at X-Y. If you are trying to time the market to get 'rich'. Nothing wrong with this, just don't come crying if the market doesn't correct as quickly or as much as you would like/need. I think it is a risky strategy myself - unless you are well enough off generally to recover if it does go wrong.
  8. Nah, did anyone lose any bank deposits in the last meltdown? Didn't the government even bail out islandic bank savers? Your money is probably safe (unless you are so rich you are exceeding the 75k deposit guarantee across multiple institutions - even then you probably know the right people so will be OK). Of course your money may only buy a fraction of what it did before hand, but I doubt the numbers on your statement would change much.
  9. Maybe. The anecdotal evidence I have suggests this isn't phasing anyone yet. When I suggest that the market is on the turn I get told no, it isn't, it is a temporary blip. Maybe more of these reports will start to filter through and change that sentiment.
  10. This suggest to me that the sentiment change is with the Kite flyers, not flying their kites quite so high. It is laughable, every house near me that comes on the market adds like 20k to the previous sold price. There is one where a developer has doubled the size of the house, though only added one extra bedroom, and has put it back on at twice what they bought it for. When a similar project nearby went a couple of years ago for pretty much what the developer paid to buy this one, that is like strapping a kite to a deep space probe.
  11. True. Note I wasn't suggesting anyone should be rushing out to buy at these prices. I was commenting on whether someone who already owns a family home with enough equity to make STR worthwhile would be 'gambling'. If you need or have large amounts of debt then I would argue no, take the punt. But lets say you bought in the 90s and only owe say £20k on a property now worth £800k. Should you STR? Not what I was suggesting. I would say taking a 700k mortgage on an 800k property is equally gambling and likely to leave you insolvent. It was directed more at high equity low loan STR.
  12. You know the saying though - markets can stay irrational far longer than you can remain solvent. I have been a reader of this forum for 10 years now and pretty much just HPI even with a stonking financial crisis at the start. I remember watching programs about STR in the early naughties - I wonder where they ended up... Where do you put the STR cash? In cash? In bonds? In the market? What if the crash is 10 years away? I would say if you are in a house you can live in for the forseable future with plenty of equity STR is potentially a gamble. Gambing something perfectly fine that is a 'slow and steady wins the race' to try and win the top prize. Unless you have a very clear plan in case there is no crash (perhaps embrace the renting lifestyle, many swear by it) or tons of disposable income or are stuck in some tiny place that you desperately need to get out of (but with no hope at today's prices), then it may be worthwhile risk. maybe all these years and I am just highly pessimistic of any crash happening.
  13. So the main changes as I understand are 1) all rental income is considered taxable income. So before you could ignore that which was offset by interest but now you can't. So someone who had £10k rent and 10k mortgage payments and 0 income before but will now have 10k extra income 2) Everyone can still offset 20% of the tax. So higher rate payers only pay 20% tax and lower rate pay nothing on this income. So arguably it is still quite a generous tax break I suppose 'accidental' landlords (e.g. Married couple moving in together) could be unaffected if say the one who owns the property isn't highly paid.
  14. This is one of the saddest posts on this thread. Out of interest, would you still hate them for their Brexit views if remain had won? I have heard that the Scottish refurrendum had a similar impact on some families - how divisive these things can be.
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