Rents Must Fall

Yeah right. There's so much pressure for 'rents to rise' that I have my landlady coming round to my rented notting hill gate flat this afternoon - she's going to beg me to pay early this month cos she's flat broke. What she doesn't know is that I'm going to suggest a 'reasonable' cut of 25 squids per week on the rent or give notice. If she says no, I'll p*ss off to the 2 bed flat 4 doors down at same price as this one bedder. Given that she is financially already up sh!t creek without any kind of paddling implement, whaddya think she'll say? I'll keep ya posted. BTW, I happen to know she has already spent my deposit, so if she says' go', I get a free month here, and she gets bailiffed.

People die, get divorced, lose jobs,get sick,relocate,have strokes,have more kids etc etc etc. Sometimes moving is the ONLY option. And the article u reference isn't that interesting - so they will sit on their 'spare' house as long as it takes will they? Even if they can't rent it out? Or cover the mortgage? As prices collapse, it become mucho pain for people to hold something they bought near the top. Not only can other people buy the same thing far cheaper, the monthly running costs are far lower than YOU have to pay. Imagine you paid half a mill for a flat, and prices collapse. You are supporting a half mill mortgage, someone else could (and will!) buy the same kind of flat for only 300k - you just 'lost' 200k, and worse still, they are only paying 60% of your costs per month!. And u will continually have your nose rubbed in it, in much the same way the rest of us have been bugged by BTL'ers for the last 3 years or so ("Look at me! I'm so clever! I',m rich and I dont have to work! I have *tenants*! Oh shit! Is thata crash I see???!!! Arrrrrrrrrgggggg!!!!). Just wait and see. Its all titsup (not a swedish lager by the way)

Yeah, right. catch a falling sword, why dontcha. Swedish beforna.

I see nothing but downside for rents in the near / mid future. I see hordes of poor BTL amateurs trying anything they can to cover their immense mortgage payments. I see massive anger against the pundits who advised everyone that a second property was a subsititute for a pension or savings. I see my own current landlady being repossessed imminently. She's already behind in her payments, and is effectively subsidising us by 200 per month. I wouldn't buy ot off her tho, cos it's mortgaged for 200k - I reckon it will fall another 50 before the market bottoms....

Rents going up? I think not, baby puppy. My e.a. mate tall tony came round today and took me to see another rental flat, in the same street as my current flat. Current flat, 1 bed, basement, large, £250 per week. New flat, 2 bed maisonette, bit of outside space, larger by far. 2 doors down. Landlady wants £275. Eh? only another 25 quids for all that extra? And tall tony afterwards said to me (and I quote) "She's a bit desper - she'll take £250". Now that's what I call a rent rise!!!! Seriously considering, but not sure whether I want to commit to a whole year more.. might miss all the bargains!

Superb, BB! tasty chart or what? So that looks like they're gonna come back to about 80k before it bottoms... woof.

Mmmm.... two points. (1) u people have obviously never 'traded' anything. Its a *market* . It goes *up* and it goes *down*. It was never gonna just collapse consistently month on month. Minor short term trends within the prevailing next timeframe trend are always easiest to explain after the fact (e.g. if it goes down again next month, everyone will say some old cr@p like "Ah, September, that was obviously people who had exchanged back in June, and couldn't get out of it" or some other daft reason). Expect it to (gasp) go up, and go down. As long as the general trend is down, we are happy. (2) Don't be surprised at a 10 times multiple -@ 360k - after all, imagine this scenario (admittedly reducto ad absurdum):- Interest rates go to ZERO. Banks will lend you a BILLION on ANY security / Income. Does that mean the price of a studio flat will suddenly zoom to 1 billion? Probably, because there are loads of retards out there who make things difficult for the rest of us by basing their long term decisions on short term variables. Next month, interest goes up by 1/1000 percent. Ooops. Not so cheap anymore is it? And btw, in a low inflation environment, 1 bill is still gonna be a lot of money 25 years down the line. How to pay ot off??? Er, not. So how does this relate to whats happening now? Easy. Start with 175k and apply 20% per annum compounded. We're over a mill by 2013 and over a billion by 2051 for a typical house. he he! Wasn't someone banging on about '50 year mortgages'???

Well. That was a nice crash, wasn't it? Hope you all managed to get on board at the bottom (Set 26th? 27?) and are now enjoying these fabulous tax free gains. :-) But here's a thought - (I'm not suggesting anyone do this, btw, just wondering about what repercussions there would be :-) How about if all the renters in Britain acted as one and decided that they wouldn't pay any rent next month? When the parasite/landlord comes round, give him some cr@p about 'check in the post' or 'been laid off, can't pay till next month'. I wonder how many Buy-To-Lose landlords would swallow this? I wonder how many could afford to? ! Most would no doubt use up the deposit in lieu, so tenants would have to be firm about not paying rent in their last month either. Or electricity bills etc. If everyone did it together, there's NO way the courts would have enough resources to process requests for evictions etc - in fact the backlog would probably throw the whole court system into crisis ... And it might just topple the 'weak holders' over the edge and start the crash fer real :-) Of course, the people who would get hurt most would be Time To Bleat About My Rents and his ilk (I'm assuming for 1 second he actually HAS property, and isn't the Foxtons tea boy) - 1 tenant taking 1200 quid off you would be nasty, 20 doing it would *really* hurt! I can see it being an annual thing - every september, all of Britain has a 'rent holiday'... :-) he he! Council Tax riot anyone?

Yeah yeah, Big Boring Butthead...whatever.... Enjoy the crash. >yawn<

? eh? Certainly looks to me like the crash has started.... falling prices... panic, just like last time in fact - 2 years from now the redistribution of property in this country will be truly fabulous... Unless Ali, u know something we dont? :-) PS, BBB, whatever, u loser

Er... you were expecting an estate agent to... TELL THE TRUTH???!!! Arf! that's funny dude! Next you'll be telling us that Tony B.Liar truly likes Gordo, or that Time To Frig The Board actually lives in Sweden!!! He he:-)

that is just brilliant! Especially the bit about the 'magic property plateau', shielded from 'evil market forces'.... arf! go read!

like it! how about "Most patently obvious platitude" (e.g. 'sensibly priced property will sell' )

Sorry Bum-B*ggering BoyScout, but this is the *House Price Crash* forum. If you want a *House Price Boom* forum why don't u go off and start one? After all, you obviously have a HUGE amount of time on your hands (running a 'gigantic property empire' pretty relaxed job, is it? Yeah, right. Surprised you manage to find time to do your other job serving McFries) As for having a go at 'Time To Try And F*ck Up The House Price Crash Form' - he's an E.A., so he must expect to get flamed whenever he comes here. Compared to some of the 'don't miss the boat' or 'excellent time to buy' crap he *regularly* posts, my replies are moderation personified, as are Monkey's posts. The fact of the matter is the market is crashing, you two twats were wrong, so just go away whydontcha. This thread is a suggestion to the mods that if they want this forum to continue to grow, they need to exercise a little control over w*nkpots like u constantly adding useless pointless new threads in a vain attempt to devalue the forum by filling it with off topic crud. Is that clear? Or do you want me to explain it in one syllable words you moron?

It's starting to look like the two 'permabulls' are trying to crowd out the board with silly polls, rude pics etc. This will have the effect of diluting the value of the content on this site, and hence will be detrimental to the board in several ways. Suggest you impose a little editorial control on these jokers??? (or anyone else who posts spam) After all, any one new coming to the forum today will find nothing but back and forward personal insults between members and wierdo porno pics from Big Balled Brainstormer... think they will come back again??? Not if they are looking for the definitive forum on house price crashes... ciao Rents \/

Well said, Monkey. It was established long ago that Time To Suck Your C*ck was actually an estate agent's junior in Cheam (or was it Walley Range? Can't remember). His loony dreams (of living in a wooden chalet in snowy Sweden with some huge-b'd Nordic bimbette while effortlessly collecting massive monthly rent checks from overpaid and gullible Londoners) first alerted us to his real status - after all, anyone who had actually spent any time in Sweden (as have I) certainly wouldn't want to brag about it (except perhaps in certain redneck communitoes where inbreeding from a depressingly small gene pool was popular! :-) As for 'BBB' (Big Bald B*stard'? Brainless Boring Buggerwit?) - he isn't fit to sweep the cashew droppings from around your hairy feet. ON THE OTHER HAND.... if they weren't here, it would be a pretty crap forum, composed purely of Bears, patting each other on the back for getting it right... the only topic of conversation we would have is 'How Far' its going to fall, and 'How Long'.... Ciao Ciao - gotta dash - have to check on my Docklands residential empire - I own Canary Wharf, dontya know - commute in from Chamonix twice a year with my pair of French model-twin girlfriends to collect the rents in bars of solid gold...:-)

Found this - thought you might enjoy it! Looks like a *lonnnnnng* haul!!

...his Doctor. 'Heart trouble' my sweaty @ss. He's preparing his excuse now, cos he know's the jig's up. He's gonna leave that Jock hypocrite Brown with the mother of all fvckups. And *us* as usual, paying for it all. I dunno. What a country. Almost enough to make you move to Sweden and eat cold fish for the rest of your life...

brill article in the Snail on Sunday about some property exhibition, and the despair in the BTL stalls :-) He he! and down she comes!

Hey, swedish rent-boy you really are a bit nutty, aren't you? It sounds like you are suggesting the geezer should trade down his company car so he has more cash to give to parasites landlords like you?!???!!! Like, yeah :-) that's really gonna happen! And by the way, 'not one day void in 9 years'? You are *so* full of crepe - same tenant for 9 years, or you managed to move in the next one the same day you moved the old one out??? Never had to take it off the market to redecorate it? What a load of monkeys. You are an estate agent. You have no money. You will have even less over the next 4 or 5 years. get used to it.

while technically correct, you have to be sensible. Although a previous post already addressed your flawed logic, I'l spell it out for you in simple terms. Everyone want a house in the UK for a number of reasons. Security, being able to paint it any colour u like etc, and ... capital appreciation. Fine. But... the most important element of that is... can u guess? Yeah, well done Big Broke Bulls!tter, it's *capital appreciation*. Take that away, and the main incentive for owning goes away. Let me put it even more simply for you. Imagine that houses depreciated every year by 20%. Unlike a car, a house is such a big huge expense that no one would want to do it, would they, not when they can rent and not have all the hassle of ownership (and especially when renting is now actually CHEAPER than buying!!!). So. what's the cutoff point before people really *don't* want to own a property??? 20% per year depreciation? Yes, of course. 15%? Yes. 10%? yes. 5%? yes, of course. On a 'standard' 175k house thats about 8k IN ADDITION to the mortgage payments (which DON'T fall with this depreciation, of course, and hence make the depreciation even more serious - you are effectively paying incremental 'over the odds' extra charges for every year that properties don't claw above zero!). Bottom line is, the number is probably ZERO (or close to it). Now what do you really see happening over teh next few years? Maybe a little depreciation perhaps??? So what does that make you think will happen? :-) I'm certainly prepared to rent till it bottoms out, because *renting will work out cheaper than buying till the crash finishes its grisly work, and I will THEN be able to buy, cheaper than I can until that point - so my mortgae will be as low as it can go*. And in the meantme, I'll forgoe the wonderful pleasure of having to pay for repairs, plumbers, etc, cos that's my dummy landlord's responsibility. And I'll shave money off the rent as the years go by! just my 2c

Yeah Yeah, Landlord. Keep wearing the leather shorts and eating reindeer burgers. Only thing I will say to you now, you antoipodean windup gimp, is that instead of trying to argue that prices 'won't fall', you now seem to have given up on that , and are focussing instead on 'rents must rise'. Well u were wrong the first time, and u are wrong on this too. Most people in the UK simply *don't have the money* anymore. What part of this don't you understand? With all the tax rises, the carefully massaged inflation figures etc, most people in this fab city end the month broke. You try and put their rents up, guess what will happen? No, d!ckweed, they won't pay up happily. They'll walk. Move further out, downsize, go back to Dad's etc etc Ah, when your portfolio has crashed 45%, WE are the people who are going to be buying your repossessions at auction :-) Difference is, we will LIVE in your ex-properties, rather than try to parasitically use them to create our own private slave pool... rant over, composition time 4 minutes. BTW, agree with the Taleb post - star. Ultimate contrarian!

Rent must fall - there is now simply too much property. Especially now all the new developments are not going to sell. Bell End Homes etc are going to have to become giant landlords themselves if they intend to survive the next 2 years, and they WON'T be getting stonking rents for their cruddy little 'designer' flatlets. Nice kitchen but IT'S IN THE MIDDLE OF NOWHERE!!! Sanity returns, rents fall, the property market collapses, and the economy is revealed for what it is, a sham, propped up by loony debt and wicked speculation by people who should have known better... Those of us with cash, on yer marks...! :-) Bring it on!!!

"Pwice cwash, pwice cwash, pwice cwash.... What pwice cwash? There's never been a bwetter time to buy. Make me another tea pwease Kiwrsty, its all you're good for now you fatass sloane" - Phil "Phook off you bent slaphead commoner" - Kirsty

Yeah!!! Till the pips squeak! And now would be a GREAT time for Gordon Brown to institute that 'pay monthly tax on unearned rental incomes' strategy he was tinkering with!!! Down she comes!