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House Price Crash Forum

abroad

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About abroad

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    HPC Regular
  1. Those who were involved in doing it consecutively are just as culpable as those who did it concurrently. In the end its only limited by their appetite for debt and 'ability' to service it. Each sale added to supply and demand regardless of timing. There is also in my view a public service provision in the private rental market. I say that as a renter myself. I choose not to buy as I require the flexibility of location and the ability to move easily without being tied to a house in a foreign country. Not everyone wants to buy a house or is able to. Are you suggesting that everyone should be forced to buy ? The bottom end of the market is not wholly dominated by BTLers. if you knew anything about the actual market you would also know that the supply of flats increased to match the demand as well. That is why we have so many 'new build' crap flats.... Like it or not Its a free market, you can't pick on one group of buyers and say 'It was them that did it'. Its complete nonsense. The market was expanded by all buyers. Housing ballooned to meet the demand from all buyers.
  2. Last time I looked the general public didn't have access to other people's bank accounts and balances either......can't be healthy or right can it ?
  3. No more than everyone else who bought and sold houses in the last 14 years. If I theoretically moved home 4 times in that time, making a profit with each transaction and 'trading up' would I somehow be guilty of nothing in your world ? Anyway as i said and you managed to ignore, BTL is pretty focused on a narrow band of the housing market. Namely 1 and 2 bedroom flats. How do you explain general market inflation being down to BTLers ?
  4. You don;t pay for me, i pay for myself and my family. Can you say the same? I'd suggest you spend less time on the internet and more time doing your homework, schools will be back soon.
  5. Its the same transaction, pumped money supply from banks in form of mortgage credit and people trading up caused house price inflation. BTL's were a small cog in a big machine and as you can see from this story. Its not without risk. Your whole argument is based on some irrational hatred of one small group. I can only assume you had a poor experience renting.
  6. Only if another landlord buys them, what if he doesn't and its a 'developer' or someone looking to just flip them . They'll all be out on their ear at the end of their tenancy agreement term. I'm sure they will be happy as its for the greater good. I agree that more supply would send house prices in the right direction. House prices need to drop as they are out of line with wages but the majority of this is due to general public and banks. BTLers were just the tail end of this and mostly only involved in certain specific areas of the housing market. I still don't see how a guy who played the system and took risk for reward should be vilified. It would seem to me that his crimes were 'investing' in an asset class and having had a public sector pension. Neither of these options are or were closed to anyone on here. As I said , looks a lot like green eyed jealousy disguised as concern for the greater good. I mean who the hell did he think he was trying to make money....bloody hell 7 BTL flats, fecking millionaire....
  7. Yes but will they be able to buy them....not just rent them as they have been.
  8. Exploitation ? Pushing up everyone's cost of living ? That would surely mean that anyone who owns a house is in some way guilty of the same given supply and demand are what moves prices. The BTL crew like this guy were just the last suckers in the game.
  9. Each to their own, its not for me to say what is right for anyone percentage wise but having all your assets in a single asset class is risky. Anyone who was wholly 100% in cash has paid the price for lack of diversification by missing out on opportunity. They have also of course not taken quite as much risk. I own PM's but moving 100% into PM's at this level would seem to be extremely risky or do you disagree ?
  10. Impressive rant, I can see you having to clean the spittle from your screen after that. In one post you had a dig at him having a pension, having the cheek to try and create a second income and insinuating that he is in some way robbing the people living in his over leveraged flats. The only thing I can see wrong with this guy is that he over extended himself and his leverage probably killed what could have been a reasonable little business, until he was really retired. I wonder what will happen to his tenants now.......Those who criticize loudest are usually those with the most to hide.
  11. I can say that having 'contractors' or 'freelancers' in Germany is not the norm and when my firm have done it we have always insisted for example on them providing all their own IT equipment, this is used as a differential between employees and 'consultants'. Are you sure they are not looking to offer you a permanent position ?
  12. What is your protection against a forced devaluation which is instant inflation. Clearly only nutters are 100% PM's but everyone should have it as part of their portfolio.
  13. Why would you not just take the part pension per country ? I don't see the need to 'consolidate' it. Certainly all my correspondence is based on what I've paid in so far.
  14. I have opened a new account with TSB and RBS since I was abroad(in EU). Seems strange that as you already have an account they won't let you open a new one. If you moved back for a couple of weeks, opened an account then decided the weather was a bigger issue than you remember then went back to foreign lands then I don't see how that could be deemed illegal. Since you have already done it once.....Plenty of offshore places will allow EU residents to open an account e.g Jersey. You just need proof of ID and address,as you do normally in opening an account.
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