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House Price Crash Forum


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Everything posted by richc

  1. It's a bargain! You'd make a fortune renting it out as an AirBnB brothel.
  2. Wow, there are some seriously thick BtLers out there.
  3. I finally post this news because no one else had, then someone makes the same post at exactly the same time. It's certainly worth repeating.
  4. http://metro.co.uk/2017/03/13/rents-fall-for-the-first-time-in-six-years-6505839/ Average London rent down 5% in past year. I thought all the BtLers were raising rents just about now to cover the costs of the "tenant tax"?
  5. Are you saying that immigrants don't cause higher levels of traffic congestion?
  6. Having enriched themselves through Human Rights Law and Housing Benefit, this is the Blair family's latest effort to enrich themselves by using their government contacts and over-meddling government interference: Tony Blair's son working in apprenticeships For a "small fee", Euan helps his corporate clients avoid the legal pitfalls set up by his father's cronies.
  7. Just some feedback from another immigrant to the UK: you sound like a walking argument for Brexit. You're not helping,
  8. I feel like I need to take a shower just after looking at those pictures. I generally think that property flippers are scum of the earth, but the current owners have done humanity a favour by redecorating that place.
  9. http://pdf.euro.savills.co.uk/uk/rural---other/uk-agricultural-land-2016-lr.pdf Prime arable land goes for just under £10k an acre. For someone with such strong opinions, you sure do seem uninformed.
  10. Saying that farming without subsidies is not profitable is a completely load of horse sh!t. Farmland sells for £10k an acre in the UK. No one is buying farmland at £10k an acre to lose money.
  11. It's interesting that rents are falling almost as quickly as sale prices in these areas. Clearly, there's a very big drop in demand for housing in central London.
  12. Great investment there. 3% rental yield, with capital values and rents falling by 10% a year. "Completion expected March/April 2017." It's time to start panicking.
  13. A two bed, at the higher end of the range of rents for the area. A lot of flats are coming onto the market from the One Tower Bridge development, all at very high asking rents, and none of them seem to be rented. This appears to be pushing rents down for other flats that were previously viewed as the top end for the area. Honestly, I'm not really sure who the market is for these flats. They are mostly set up for single people or for sharers, but if you're making enough money to pay the rent that they're asking, you're probably also old enough to be fed up living with housemates or you're married/partnered, having kids, and need more space. We're getting this flat as a second-house, as it's a two minute walk from my partner's office. We also have a big house outside London. I can't imagine that there are so many people out there looking for a similar arrangement to sustain demand at current asking prices. In my email this morning was an alert from Rightmove with 9 new listings. 4 of the 9 are reductions in asking rent.
  14. I just rented a flat in a nice part of SE1 and the landlord seemed pretty desperate to rent it. It had been on the market for 6 weeks with one reduction already. We really liked it so didn't bargain too much. I would think that this has to be prime territory for bankers and corporate clients (5 minute walk to the City), and nothing seemed to be moving.
  15. I like how the BTL supplies are all stored in the old garage in pictures 13 and 14 -- knackered wardrobes, stained mattress and To Let sign.
  16. Also from that article: Chinese investors are presented as cash buyers, but clearly they're just borrowing the money in China. This guy is talking about a purchase in Australia, but for people like him who bought in London, they will have seen their rental income fall by 25% with the devaluation of the pound while their mortgage payment has stayed the same.
  17. I liked Metro's take on the Spire: http://metro.co.uk/2016/11/02/new-london-skyscraper-looks-like-a-massive-*****-and-balls-6230922/
  18. Thanks for linking to Neal Hudson's new blog. He seems like one of the few commentators who does more than regurgitate VI press releases.
  19. For reference, the S&P 500 is up 60% in the past ten years. And the pound has lost 38% of its value (against the dollar) in the past 10 years. Woo-hoo, we're rich!!!
  20. You can't get through a couple of paragraphs of that article before they start resorting to out right lies. "Britain has the highest property taxes in the world". BS. Most states in the US have much higher property taxes (both annually charged taxes and one-off transaction taxes) than the UK, but because they've only looked at US Federal taxes (where property taxes are minimal) when comparing the US and UK, they've come to the conclusion that property taxes are lower in the UK. He's also parroting another lie when he says that business rates are going up. This is not true. Rates are being recalibrated with some going up and some going down but with no overall increase. I suppose it's the Telegraph, which you always have to read with a grain of salt, but do these people have no shame when it comes to printing out-right lies?
  21. The rent I pay barely covers the maintenance costs of the house I live in. Roof work three months ago, redecorating 2 months ago, electrical issues last month, the boiler has started making funny noises this month. I'm more than happy to be "wasting" my rent this way. The housing market in the UK is very risky at the moment. Even if some people have made money over the last few years, others have lost a great deal of money as well. My partner works with someone who really stretched themselves to buy a flat in prime central London two years ago. He probably lost his entire annual salary last year from the fall in the value of the flat. .
  22. This whole idea that everything should be based on an individual's contribution makes no sense because many of the investments required for a successful society have a pay-back period that extends beyond one single lifespan. The belief that everything comes down to the individual is completely naive. Societies succeed because a generation is willing to invest in the future -- a future that they will not themselves live to see.
  23. The rate of inflation nearly doubled in the euro area last month. This is being driven by oil prices more than the pound.
  24. They could just outsource every low-paid employee to another company and get around this rule. It would be very easy to do. The whole question of income inequality is almost entirely irrelevant at the moment (so, of course, Labour decide to focus on it). Income does not matter in the UK -- it's all about wealth and assets. There is an enormous and increasing inequality of wealth in this country, driven almost entirely by self-serving and destructive government policies. A moderate level of property tax (a real property tax, not council taxes or stamp duty) would go a long way to fix this situation. What has Corbyn said about property taxes (that he would be paying on his mansion in Islington)?
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