WinstonF

I read the comments section, there were a few landlords on there defending their "virtuous" and "socially righteous" enterprise. This landlord was the best so far " On my BTL, I was only left with £10 per week after paying the mortgage. Out of the £10 surplus (or £520 per year), I still had to pay for insurance, boiler repairs, gas safety certificate, electric checks, furniture replacement, washing machine repairs, building repairs etc... My salaried job was subsidising the rental. "... That's not a BTL landlord surely, that's a BTL saint... Failing to mention, if any of that is true which I doubt, that he is speculating on the value of the property rising. Filthy landloard lies, trying to get people to feel sorry for this scum, it's sickening.

People living on the scrap heap will still vote Tory - it's tribal and an ever so slightly dog whistle.... 15/16 years ago you could retire on 120K to give you 9K a year. Now you need in the region of a quarter of a million (£225K) or if you don't own property half a million pounds (£425K). While interest rates remain around zero, pension funds who are forced into investing into low / zero yield bonds will stagnate and not be able to cover the rising cost of inflation. Housing inflation only increases in this interest rate environment, you get favourable lending and government incentives (such as help to buy) following the cheap money. Houses as assets are non-productive and capital sits in them, the economy stagnates, there is increased rent-seeking by the ever growing rentier class. Meanwhile inflation measures are highly selective and not reflective of the true cost of living, hence the massive difference between 120K and 225K ( an 87.5% increase over 16 years ) or 425k ( 250% increase over 16 years). Has the "average" or "median" salary increased by that amount? The multitude of people earning 20K 15/16 years ago might be earning 25K a year if they are lucky. It's game over.

https://www.rbs.com/rbs/news/2018/04/ripe-to-buy--london-calling-for-prime-property-seekers--.html What starts in London will spread like wild fire to the rest of the economy, if the quantitative easing (money printing) and interest rates start rising, the ensuing house price collapse will be monumental.

London: Borough Average price reduction Kensington & Chelsea £113,491 Westminster £117,430 Hammersmith & Fulham £71,282 Camden £76,145 Lambeth £61,288 Ealing £60,880 Wandsworth £66,732 Richmond upon Thames £52,202 Brent £51,871 Merton £41,842

https://www.telegraph.co.uk/property/uk/sellers-forced-cut-asking-prices-25k-housing-market-cools/ Sellers forced to cut asking prices by £25k as housing market cools. Where are the biggest falls occurring? 19th April 2018 You have to register to read the whole article but the price falls are across the country not just London. Here are the cut & paste of the tables: National excluding London: Town Average price reduction Reduced properties on the market Isle of Man £41,212 29.91% Bradford £11,768 32.14% Doncaster £12,894 30.15% Blackburn £10,059 36.65% Hull £9,932 28.10% Mitcham £41,797 41.57% Liverpool £12,112 26.41% Newcastle upon Tyne £12,166 35.01% London £62,581 34.61% Swansea £15,607 31.85% London: Town Average price reduction Reduced properties on the market (%) Twickenham £41,832 (6.16%) 41.82% Mitcham £41,797 (6.77%) 41.57% South Croydon £23,965 (5.91%) 37.12% Croydon £23,503 (5.88%) 37.09% Reading £22,912 (5.47%) 37.03% Blackburn £10,059 (7.06%) 36.65% Harrow £29,722 (5.58%) 35.65% Chorley £11,597 (5.57%) 35.63% Norwich £17,255 (6.26%) 35.38% Swindon £15,154 (5.08%) 35.33%

Move up north. F*** London. Shocking, this is what a living wage gets you in London/South East - hardly worth working.

I think the picture is confused (to say the least) today we hear "Rate rise doubts as property demand falls, says RICS" http://www.bbc.com/news/business-43724002 and a couple of days ago everything was all going so well.. despite the fall in demand "The biggest gain in six months" https://www.theguardian.com/money/2018/apr/09/uk-march-house-prices-post-biggest-monthly-increase-for-six-months "Huge bounce/healthy rise" http://www.thisismoney.co.uk/money/mortgageshome/article-5593767/UK-house-prices-rise-healthy-rate-March.html demand falling, prices rise? Surely demand falls - prices fall, regardless of how few overpriced houses are on the market, people can't sell (they need the money from their only asset in most cases), prices have to be lowered, those who came in at the top are in negative equity. Leverage/debt results in exacerbating your losses. Just an aside it's clear that most of the houses on the market today, couldn't be brought by the sellers at their current price given their own wealth and income. It doesn't make sense, it's a jungle out there, property is 40-50% over priced given local wages. Got to be BTL rentier wanna be millionaires and foreign buyers that are driving up prices.

I have watched it, this guy is the Yorkshire version of "rich dad poor dad" Robert "Robbery" Kiyosaki, bascially promoting btl, the ultimate a pyramid scam. He's right though no one with any sense should be lending 75% on speculative investment, which is what the UK banks are doing. You need more suckers in at the bottom in these kinds of scams. Got any tulips I can buy? 75% leverage.