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About buyinbrazil

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  1. Or just the brought forward demand that the stamp duty holiday caused is now having the predictable withdrawal phase? The current market has so few properties at silly prices and high stamp duty….what a mess, what dysfunction.
  2. I know exactly what you mean. Some people express opinion or preference in language to make it sound like fact. “ need” and “ want” are two fine examples, you hear them transposed a lot! The other niggle is excessive use of “ because” as an explanation of something, inferring direct and sole causation. “ I’m not selling for X because I need Y” would cover most of my language gripes! I suppose it’s a combination of poor education, a lazy use of language and very high expectations of what constitutes normal ( eg ever rising house prices/ zero concept of loss) I’ve noticed that you can be accused op pedantry when trying to correct howling language misuse, so you can’t win, it’s all heading one way!
  3. Yes, that's my understanding too. So if he disposed of his portfolio, even if he was a higher rate tax payer, his gain must be 700,000 divided by 28 times 100? If he is a lower rate tax payer it's even higher. Therefore is was trying to do a " gross error" check on what high gains he has had if he gain, produced a CGT in that region. If he still has 1.5 million of debt it makes me wonder how little this speculator brought to the table in the first place! I wonder if they would cover a guy who got 1.5 million loan to buy shares in a mining company, which went up then down, or would they just call him or her a speculative risk taker. Oh, I forgot, this citizen was providing a service, innit! As the first poster on page two suggests, he's more skint than he realises, I think. It's weird to think where the UK goes from here , regarding the next generation getting secure shelter and being incentivised to earn it. I honestly don't have a clue how they are going to solve this messed up country. Too many greedy instincts have been rewarded over the last 20 years, the majority suffer as a result.
  4. I'm no expert on how CGT is calculated, but! Now bear with! If CGT due is 700k, and is charged at 28% then his Capital gain is approximately 2.2 to 2.3 million, right? So, how come he has 1.5 of debt on it all, it looks to me like he has never put any cash into his " business" . These kinds of articles used to make me feel angry. Now they just make me feel sad that individuals think this is a normal way to go about trying to make your way in life. As if no one else is affected by his " trade" . What a morally desolate wasteland we are occupying my fellow crashers! It does indeed look like the worm has turned on these misled BTL landlords which is fair enough, and not a moment too soon. In their defence, The wider picture as to why so many went into it is a screwed pension industry and The state stealing from savers. Lots got sucked in due to this. Cheers,
  5. To the count of nowhere, you quote the first part of my OP sentence, then you show a chart for a period of time after that period I referred to. Then commented, " in a rising property market" , what are you on? Well, read the whole paragraph me olde! I was on the lime and sodas, for what it's worth. What were you on?.
  6. Frugal git. Wise, wise words indeed. Feels like we are being farmed, there's a reason for that ! That is the kind of stuff I try to teach my loved ones too.
  7. Yes, I think foreign investment will wane . The biggie is whether or not the BTL crowd rush for the exit. The average UK property worshipping numpty has relished the ride up but even they must now see the problems that sill prices bring to our society. It's madness it really is. BTL investors blinkered to what they are actually doing " I'm providing a service" yeah right you are. Tide slowly turning but yikes this really is a very slow burner!
  8. Please excuse a general lack of specific facts in this post! This is a collection of my ramblings and thoughts, please correct or add to them ! In a rising property market, (like we saw from the mid 90s ti 2006/7/8 ish) reducing the BOE interest rate adds fuel to the fire. It encourages a " virtuous/ vicious" cycle of increased debt taking against assets, which increases the price of the asset. As has been said before, you can't breathe in forever! Now, however, (having have had historically low rates for several years ) because the banks have tightened criteria for lending, the speculative " investment" is not happening. Fewer investors will be looking to property as a good option, the downside risks of currency effects/ interest rates etc are just too high. With these low rates though, lots of home owners are under no pressure to sell, so there we are. The music has stopped on this game of musical chairs! Now that the man or woman in the street has been starved of their free wealth gains in the riding market, folk are beginning to understand that the debt is real and we are, in fact, not as wealthy as we thought we were. I see more aggression on the roads, it feels like a society on a knife edge, walking a type rope of debt. Haves and have nots, and of course, the will never haves! I don't like it. What a mess, what a joke. Employers using immigration/ globalisation to squeeze more and more out of their employees in a race to the bottom. Nice. The employee gets rewarded for their toil with tokens that have increasingly poor value when it comes to housing, as William Hague wrote recently, low rates have allowed asset holders to be rewarded for simply holding assets, whereas work has reduced levels of reward, in terms of house buying power. How does that insentivise work exactly? What a mess, you could not make it up! Where does it go from here? Too many in the UK do not contribute enough for the society to pay its own way. There is a high expectation level about what society owes them, the NHS for example. Huge demographic inequalities, in terms of numbers and resource ownership, distorting the policy makers' decisions against the minority demographics. Marked inequalities between the generations. Land tax really does appear the only morally right course to take but don't hold your breath. Perhaps we are in an adjustment phase, perhaps the ten yours of rising prices was the anomaly. I can not see where economic growth will come from, we've tied ourselves up in knots. Perhaps with the weak pound we will see a growth in manufacturing here. Perhaps we will all become a lot poorer and live simpler lives with more community spirit, no bad thing either.
  9. It's a terrible mess. I have zero faith that our politicians will a) ever really acknowledge the corner we are in nor actively engage with the electorate and explain why it needs to change. It's a complete mess. I see huge divides between generations, but also amongst the yoof. There are those fortunate enough to inherit unearned wealth from their property owning parents, and the rest! They have one thing in common, they will be difficult to insentivise. The first because they have no need to work, the second because apart from the basics( which are cheap enough) , aspiration to own a property is completely unrealistic. Money as an incentive is losing its clout. I hope that democracy will sort this out over time. We, as a country, have promised ourselves, through the state, unaffordable healthcare and state pensions. How the tax will be raised from income of a disenfranchised generation remains to be seen. We must Look after the next lot, it's their chance. where are the wise, public, figures going to come from to address such issues?
  10. In Sussex, friends selling a house. Valued at 1.7 m in 2006. Then 1.5 last year. On the market for 1.25 and not shifting. Stamp duty has changed, no other factors that I can see other than a cooling of the market. It's much more affordable than in 06 due to interest rates. Remember when Mail or Express had relentless house price rises on the front page? It's all gone quiet in that depArtment. So it's not shouted about but I'm certain that the market is cooling. Also, anyone who committed heavily at 06 prices , with the expectation of making a killing has not gone anywhere price wise. I feel the quietly things are coming back to almost realistic, at least in terms of affordability at today's rates.
  11. Ok, pants title but.... My better half goes on a tennis holiday, a load of Surrey mums. She is the only one without a portfolio of BTLs. My bro has three " as a pension" , almost everyone where I work have them. The Surrey mums seem to run them as a hobby, others see them as tangible security in an uncertain world, often accompanied by the line " I'm providing a service" . Now, if they were, en mass , to step back from " providing a service" then perhaps properties would sell at more like sensible prices. When I say sensible, I mean prices where the rest of society can run with some balance, rather than the headless chicken mortgage slaves/ priced out renting class working their butts off, with a decadent " in the boat" class being fed by them. I own my modest home, have done for many years, but it pains me to see the destruction to our society that this causes. Our local tennis club has literally no members between 18 and 50. It's teeming with 60 plus, many if whom have multiple properties and live in five bedroom houses. It's so far gone, yet we seem to accept it as normal. Families live in rabbit hutches, both parents gone all day to. Service their debts I guess. This is not how we have evolved thus far. So, who to blame. I go for governments for leaving the sector so untouched .they could chose to tax it into extinction, but they know their bank mates would be screwed. As it is our society is paying a high price, the real effects of we have yet to see.It seems that heads down, blinkers on, folk don't see the price we will all pay for this selfish way if life . " I'm alright jack" seems to be the way we live our lives. At what cost and who can I blame for the dysfunction? And don't say mrs T, though she must be in part to blame, for encouraging such attitudes. Don't even start me on university fees! Rant over !
  12. I found a pay slip from 10 years ago. I have had a promotion to a management position in my company within that time.So I took the last 10 years of RPI from government website ,compounded their numbers . I got a factor of 1.57 (using average of the RPIs ,compounded) . I factored my 2003 average payslip by 1.57. I now take home marginally more than I did then , despite work related pay rises and promotions. Obviously a much higher proportion of income tax. My employer is talking about a 1.3% rise this year. We are all getting poorer . I thought it felt like it ,and now i've proved it. Don't forget,the gov RPI figures could be on the low side and also since then ,mytake home pay in ratio with property prices has dropped off a cliff. meanwhile ,owners have been "issued" with "wealth" unearned and untaxed . We have created awful disparities in our society. Why or from where the next generation should be bothered with all this is beyond me. I blame banks and our governments.Nothing new in above ,just proof of my feeling of getting poorer in the UK is not unfounded!
  13. [ i have som advice. stuff living in a bigger house,use parks/get out to the countryside more etc. we have been brainwashed into wanting more,whatever that is! my children are now 15 and 13 ,we have a right laugh with them ,my nagger and i are cacking ourselves about them leaving home (although its gonna happen) coz we all get on so well. enjoy whats under your nose,your wife and kids,dont be beholden to a bloody bank. just my penneth worth mate.visit a library/walk on a different path .holiday in suffolk etc ,there is shed loads under our noses my fellah quote name=macca' timestamp='1327170039' post='3238418] 'Who wants to be the richest person in the cemetery!' So true.
  14. [ Interesting question . Yes is my answer,only because we were very modest when we got our home in 97 . Even so it would not be a yes if we restricted ourselves to 3 or 3.5 time . Lose money lending has a lot to answer for! Its a terrible mess ,greedy people have gaind tremendously by speculation and the price will be paid by the next generations and society will have to cope with the ersuing resultant disfunction. Stupid people are in denial ,but its a terrible mess for the next lot (and in the end,all but a minority of us).
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