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UnconventionalWisdom

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Everything posted by UnconventionalWisdom

  1. So basically fully supporting landlords. S24 then wont affect many and others can remortgage to get another place to rent out
  2. This is all just stupid and what happens when bankers are in government. IO is just the bankers screwing people over in plain sight. My previous landlords were a retired couple probably with an IO mortgage. No way should it be allowed to happen. Bid up prices and banks take the profits, no consideration for the future.
  3. Are they allowed to move to interest only? I thought IO were getting banned for owner occupiers. Certainly risky.
  4. I like HSBC. They aren't giving f*ckwits an easy ride with BTL. recommend anyone on here to leave nationwide if they are with them
  5. Yes, I agree. The book is great at encouraging people to look into their finances...too many people go along with things. The fact that people follow it directly tells me people are lazy and look are looking for a silver bullet in terms of investing. Like DB says on his thread, when the market turns it hurts the most amount of people.
  6. That rich dad, poor dad reference again. I know someone who got into btl following reading that book. Like her, they read one book and think, "right, I know stuff everyone else doesn't". Moths to a flame. These guys think they are being savy and have unlocked a secret based on reading one book. They then just follow that book directly and get into property because it says someone else paying your mortgage is great. People got screwed in 2008 after following advice from the book. House prices are turning, will the same happen and expose the book as nonsense.
  7. It annoys me when people think they are keeping up with politics by watching newsnight. Spoon fed agendas
  8. You are right that it's better than nothing but it seems to be more about getting the headlines of addressing an issue without actually addressing the issue. It's like the lettings fee ban. Stated that it was unfair on tenants and they would shift it to the landlord. We sit here, 1.5-2 years later and it's still the tenant paying the lettings fee.
  9. And consequently save the under 35 with no debt as they can finally have the chance of getting a house and spend their money on kitting out said house. No brainer for them really. Problem is that I often wonder if they have a brain
  10. My previous landlords were a retired couple who probably took out a big IO mortgage on a pricey house in the SE.of course it's reckless lending-they would be screwed if they couldn't get tenants. Problem is that people need places to live so you don't get to see that they are swimming without any clothes on.
  11. Micro economics. It has a detrimental macro economic effect. Investing in stocks can provide the company with capital so it can expand, increase efficiency and subsequently increase productivity. Taking loans out on flats and having people pay for it just serves to bugger everything up. But heh, the micro ecemomics looks good... Until it doesnt
  12. You may be right on this. As much as people may hate corbyn, him getting 40% on the last election has scared the sh!t out of the tories. They know they need to sort the plebs out buying up houses and destroying their chances among the under 35s.
  13. I agree the second person comes out best. But what if one person rents and the other have just bought at peak before a 35% reduction. Second person can't move due to negative equity and has to stay in crap job, bad relationship to keep up with mortgage payments. First person can jump in after the reduction and still have the option of moving on later (if there are not further significant falls).
  14. Up to Liverpool. But he did enrol on a tropical diseases course which will mean he might use so he can work abroad for a bit. Basically keeping his options open but doesn't necessary need to stay here. If things were better, he prob wouldn't consider it. Crazy way to treat young people
  15. I initially took this as a possible anti HPI article... Making out that she's a selfish landlord. The comments have me worried though. Seems they all don't care about the problems facing young people. Our society depends on young people having enough to have a comfortable life, if not then they will down Tools, Swan off somewhere better. I have a GP mate who left London because he couldn't afford to live alone and was sick of sharing in his 30s.
  16. In a downturn I get the impression banks would stop lending on these properties. Even now many won't provide a mortgage on flats above shops
  17. Corbyn had Htb in his election manifesto. They should be seen to actively oppose HPI to completely swallow up to under 35 vote.
  18. I have a mate who is renting a big place in a park in Liverpool. The place must have been derelict in 91 so is on a really low rate. Using some arbitrary date is stupid.
  19. It is really something when these idiots talk about affecting the economy. The economy has been royally screwed for decades because of HPI. Instead of people spending in the real economy, they spend half their money on rent /mortgage and loads of interest. Banks do well, the rest of us suffer.
  20. Because most people like to think they are clever at making life choices. To most, their only investment decision is the house and a pension. Stretching themselves makes them believe they will win big. It's bonkers.
  21. Their new financial editor has been critical of housing policies in the past http://www.thisismoney.co.uk/money/news/article-2296806/RUTH-SUTHERLAND-Is-Osborne-risking-US-style-housing-bubble.html http://www.thisismoney.co.uk/money/mortgageshome/article-2257295/RUTH-SUNDERLAND-Dangers-divisive-UK-housing-market.html
  22. That's 3 articles being critical of housing in 3 days from the daily mail.... Maybe, just maybe the new editor is changing tact.
  23. Check out the comments. Virtually everyone wanting prices to fall and only a few idiots talking about how people don't spend when house prices reduce. I wonder if some of these articles are released to gauge public opinion. Seems like there's a good political argument to have prices reduce.
  24. And in times of emergency monetary policy... It's beggers belief that this isn't widely known or cared about.
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