Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by pipllman

  1. As there is no possible way for me to ever be convinced that a council can provide anything more cost effectively than it could be provided by a for profit organisation And as there is no possible way for you to ever be convinced that privately owned housing should play a large part in social housing provision There really is nothing more that I want to add that wouldn't be a rehash of previous posts I will leave the discussion with something on which we can maybe both agree: the current way of providing social housing is not the best way
  2. is that my final badge from you or can I win some more?
  3. It is, of course, both stupidity and ignorance working in tandem And add in pure luck in terms of timing too But, based on the results so far, I am very glad I did it when I did, in the manner that I did and I hope to have the opportunity to do it again at the same level of risk to reward. Twice ideally. Somewhat sadly, I don't think the market will give me that opportunity again in my lifetime. But if it does, I hope to be there.
  4. the EURGBP rate is currently making sales here of cars made in EU zone quite attractive to manufacturers if volumes are falling they may well subsidise the sales here to drive volume with tempting finance and other offers - as someone else pointed out, with 'free' money that they have access to via ECB / BoE
  5. Proper job is very far removed from BTL / property / finance of any sort 4 no n/a 6
  6. Yes, as an investment that I hope will work out well financially. I have a 'proper' job. It was in the course of that work that I went to Switzerland recently. Enough is getting closer, but I am not there yet.
  7. Another aparthotel is coming to York http://www.yorkpress.co.uk/news/13944838.__10_million_riverside_apart_hotel_planned_for_York/
  8. There is an interesting response to a 118er from Rob Marris (Labour MP for Wolverhampton SW) http://www.property118.com/clause-24-and-housing-choice-an-open-letter-to-labour-mp-rob-marris/82097/ an extract of which... Regarding your 5 specific questions: 1. Rents should not go up as a result of this measure. The reason is that there is competition in the housing market and, due the chronic shortage of housing in many parts of the country, many landlords already charge what the market will bear. 2. Tenants should not be evicted as a result of landlords’ reactions to the measure. Legislation provides some protection for sitting tenants. If a landlord sells, it is likely to be another landlord who buys. 3. Clause 24 will have no impact on the level of homelessness. There will be just as many houses and flats after the introduction of this measure as there were before. 4. Clause 24 is unlikely to cause the supply of housing to increase. 5. N/A
  9. Yes. If the price / yield / location was right, I would very much like to add to the portfolio. Haven't done so for over 10 years now. Last chance to do so was probably 8 or 9 years ago - which I missed for various reasons. There was a sniff of a chance just after the banking crisis, but I wasn't quick enough (caught massively off guard by the bail out) and missed out on a couple of houses that would have been OK given how things have played out. In and around York, I reckon it needs about a 40% fall before I could contemplate a purchase. Different for each property of course, but that's about the size of it. Will that happen? I don't know. But if it does, I hope to be there.
  10. >Venger There are a few things you won't see me do - blame someone else for decisions I have made - moan about taxes / costs / regulation of LLs - ask for / expect a bail out if I call it wrong Other than that, I will wear any badge you want to give me.
  11. I rented for a while earlier too - whilst I saved a deposit and considered where I could buy. By nothing more than the luck of being born when I was, it certainly wasn't as tough to save to buy a house back then as it has been in more recent years. It was by no means easy, but I do know that housing was much more affordable back then than it became more recently and that it was, therefore, much easier. Whilst I can't claim to know personally how depressing it is to be a renter/saver in this market, I know enough people that are in the situation that you describe to have considerable empathy. I know enough about the rented market to know that finding a good landlord is tough and that rents in many parts of the country are very expensive too. I can understand why you would never enter in property as an investment and why you have such disdain for landlords. I also know that neither my words nor my actions do nothing to make your situation any easier.
  12. I have lived in rented houses in my life - some good, some bad, some indifferent. I have also spoken to and known bad landlords - some very bad in fact.. There are too many of them. You are right that what goes around comes around. Karma has a pleasingly frequent way of dealing with wrong doers.
  13. venger and willie I understand your arguments (and have done for a long time) and why you are so vitriolic towards LLs That understanding doesn't change my view on property investment or the housing market
  14. I will rephrase it a little then In order for council provided housing to be properly maintained, the councils needs more money (amongst other things). To achieve the same standard of housing, the council costs would be higher than that of good PRS providers, even allowing for a profit margin. Moreover, if the council agrees to pay LHA on a PRS property that doesn't meet the necessary standards, that is as much the fault of the council as it is the LL. Why doesn't the council simply say no, we aren't paying until you do X, Y, Z? The other costs that you refer to should be dealt with wholly separately from the cost of providing the actual housing. There is no reason why PRS providers can't provide secure tenure for instance.
  15. That is one of the risk factors in choosing whether to make the investment or not isn't it? Much like a share's dividend yield if its price crashes
  16. No, there is no obfuscation - where do you think there is any? All investments carry risks But, due to the fact that the tenants contribution to the purchase price of the property, buying a house and renting it out - with sensible leverage - can have quite a low risk at many points in the economic cycle.
  17. It shows that the reason council housing can be shown to be cheaper is simply because it isn't properly maintained. A council with a backlog of significant repairs that were identified as far back as 2009 and have not yet been completed is not a sign of a good provider of housing. Having one house with a boiler that was noted to be obsolete in 2009 would be quite bad. Having 4,000 of them is almost beyond belief. I contest that were proper maintenance and improvement programmes followed, the costs of the council provided housing would be higher than PRS equivalents - because councils are not good at spending money effectively. They should be, but the evidence suggests that they are not. Even allowing for a profit margin as a reward for their improved efficiency and effectiveness, good PRS providers would be better value for money than councils. Whether existing PRS properties measure up to the proscribed standards or not remains to be seen - the new bill that you link to will enable reasonable comparisons to be made. If they don't then the owners of said properties should be forced to bring them up to standard quickly (on their own bill). Whether councils have the ability to make that happen by proper enforcement of the appropriate legislation also remains to be seen. I suspect the lack of credibility caused by their own failings to achieve the required standards might hamper that.
  18. http://www.tcpa.org.uk/resources.php?action=resource&id=1273 We are only building half the homes we need - and younger couples are suffering most 4 November 2015 The latest household projections suggest that we need over 220,000 additional homes in England each year until 2031 if the projected growth in households is to be accommodated. Currently we are building only 54% of that number - putting pressure on prices and rents. The housing crisis is worse in London and the wider south east where 55% of the homes required need to be located. Even if the homes required are actually built the latest government household projections suggest that couples aged between 25 and 34 will be less able to live in their own home in 2031 than their counterparts in 2011.
  19. How do you know it wouldn't be allowed? Has an application been made and rejected?
  20. Indeed. Highly leveraged BTL was the new kid on the block. The traditional rental portfolio model hasn't had a look in since 2004/5/6 really. It might have a chance to make a comeback. It might not.
  21. Like many other investments, it has an element of risk attached
  22. Like many other investments, it has an element of risk attached.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.