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Dubai Exile

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  1. What a top post. And with the number of FTB who cannot buy growing day by day, any potential crash would quickly rebound as they all come rushing in. Not only will the FTB come rushing in but also those people waiting to join the BTL gravy train. Very simplistic but it will happen...so there will not be a crash, perhaps the odd short-term decline which will only last until it reaches a level where the FTB's are waiting to pounce. Simple supply and demand economics.....as I have stated on here before the number of houses is simply not growing at the rate of people wanting to buy them.
  2. Liverpool premier champions? With the likes of Cisse and Crouch upfront a house price crash is more likely. I have picked up my winnings again this year from my scouse mates "Cisse wont get 10 in the premiership" bet which i offer every year. So thats 200 quid I have picked up on him over the last 2 seasons (and 100 on Diouff the year before). Please dont sell Cisse. Sorry mate, but unless you get Owen backto get 20 a season a premiership title is out of your range. Great cup final and congratulations on the result. Gerrard, what a player, i hope he decides to play at the world cup
  3. Eric, I understand why you must be frustrated.....if you had bought 3 years ago and sold today you would have a tidy sum in the bank. Someone needs to tell it too you straight........your constant babbling about a crash isn’t going to make it happen, no matter how hard you bang on your keyboard. Just completed my house sale which I mentioned on here a while back whilst under offer. Posters on here warned me that it hadn’t completed, well 6 weeks later it has for the full price. Money safely in the bank. I was told by the valuing EA's (3 different companies) that there was a line of people who made offers just on the news the house might be coming onto the market. Eric mate, the market is thriving; I have made a very healthy profit as you could of if you purchased 3 years ago Forget all your stats about FTB's, VI's and all the other BS. House prices are subject to the basic economics of supply and demand. There is an ever increasing population chasing a comparatively fixed supply of property. Add to that the imminent influx of Romanians and Bulgarians.......its not rocket science.
  4. Which is no worse than the argument... "FTB's can't afford to buy.....it must crash soon" I have previously outlined my reasoning why I do not believe a crash will happen including the demand fed by immigration, demand fed by divorce rates, BTL's who see property as part of a pension portfolio, BTL who do not need to sell , ever increasing demand for rental property due to FTB unable to buy etc.
  5. I noticed the expression in a previous thread, but I did not get the impression that it was intended as a slur. In much of Europe the vast majority of people rent, and I do not think they are viewed as being badly off. Is it not inevitable that the UK will become similar, as it getting ever more difficult for FTB to own their own home?
  6. I guess I am bullish, but I do try and enter into debate, albeit I accept that many posters on here are often better informed than myself. But how does "tee hee" promote useful debate?
  7. What does that mean? I guess you had a good laugh at all the buyers last Spring and for a few Springs before that... They are the ones laughing now, Jerko.
  8. Thanks for that. I hadn't considered it from the angle of liability in your chosen country of residence after the UK. Sounds a bit harsh that the Oz government can tax you with CGT on profits from an asset outside the country? But that said I suppose its consistent with most countries income tax laws which generally tax on world-wide income. I have been NR for over 8 years and do not have that problem in Dubai, but say I move to Australia I assume they can't tax me on the cash I take there with me?
  9. CGT exemption for non-residents (NR) only starts after you have been NR for over 5 years. Therefore if you decide to move overseas, and sell up your 2nd property within the first 5 years after your move CGT will apply. However, as I understand it, once you have been NR for 5 years you can buy and sell in the UK as often as you wish without CGT. Would be grateful if anybody can confirm that my understanding is correct.
  10. And how did you answer those posters last spring? You probably shot them down and warned them of the immanent crash “just around the corner”.. Well it hasn’t happened, and its not going to. I feel sorry for any first time buyers who can afford to buy now, but are frightened into waiting by the views expressed on this site and find them self priced out in the not too distant future. Bear goggles, be honest......this time last year did you expect a crash to have happened by now? And now that it hasn’t are you not starting to doubt that it will occour?
  11. Yes, if you have been non-resident from the UK for over 5 years.
  12. Of course its a "nightmare", and thats why the landlords are being paid x pounds every month by the tenants, and earning the capital increase on their properties. There has to be an element of effort to get the reward. When those BTL's are laying on a beach in the not too distant future sipping a g&t paid for with their BTL houses, the effort will be a distant memory.
  13. Why is that a problem? It is precisely that fact which supports the housing market and IMO will prevent any significant HPC. It is not a problem for BTL's that they are holding, it's good for them. There are plenty of people who need to rent (influx of E.Europeans and the ever increasing numbers of FTB who cannot afford to buy). So the BTL mortgages are generally being covered. Why would any sensible BTL want to sell???? IN 10, 15, or whatever number of years the BTL will own a few properties paying for a pleasant retirement. Easy.
  14. TTRTR, would you mind elaborating on how you plan to sell (i assume your properties) without CGT? I have been NR for over 5 years so, as i understand it, can buy and sell property free of CGT. Are you referring to this or another way to avoid CGT?
  15. You are probably correct TTRT. I have just read Terrified's thread from November, which you resurrected. An interesting read and a pity terrified didn't take the sensible advice of BTP, Dalek and Catch 22 back then. It seems Terrified preferred to listen to the other posters, the same ones who appear to think property is a bad investment......
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