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Gorgeous George

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About Gorgeous George

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    HPC Poster

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  1. If only there could be a HPC without repossessions and hardship. Without the threat of higher interest rates, it will only be those who need to move/sell that will be really hurt. Many more will think they have lost as their equity disappears but thisn't real. Those who have waited for a crash will not gain anything - but they will have avoided losing something. The winners will be the STRs and BTLers who sold at the peak. GG
  2. Seems to be a lot of people hoping to gain enjoyment from other people's hardship. A little sad IMO. The biggest losers in a HPC would be those who gained the least during the HPI years. As well as increased repo's there would be increased divorce (upwards market pressure) and increased suicide 9downwards pressure). Happy days ahead? GG
  3. Royal Mail is trying to compete with its hands tied behind its back. Other companies are allowed to cherry pick the profitable areas of the business. Whatever you do, do not move to the countryside. It won't be long before post is delivered once a week. I prefer Royal Mail when my post is being delivered. GG
  4. FWIW, 2008, 5.25% 2009, 5.00% 2010, 5.25% 2011, 5.00% 2012, 4.75% GG
  5. Banks borrow money from different places and fixed rates were expected to fall. The upshot will be that BTL LLs with good credit histories will be able to buy houses when sub-prime borrowers will not. The biggest losers will be the government. There is far less tax/Stamp Duty paid on BTL properties than on owner occupied homes. What is needed is some better form of control over BTL. Perhaps a change of use from owner occupied to rental and vice versa would prevent LLs from cashing in on price fluctuations. GG
  6. So, are HPCers anti-Labour or just anti-Government? My guess is that they are anti-Government, regardless of the party in power. GG
  7. Absolute rubbish. I believe there will be a correction/crash caused by banks tightening up their lending multiples - the same lending multiples that caused HPI in the first place. The multiples were relaxed because low IRs allowed them to be. Very little to do with BTL. GG
  8. This is just more of the same old anti-BTL 80LL0CK5 that this forum revels in. If the OP had a brain, he'd be a danger to himself. GG
  9. If I was a clever property investor I would sell now - but I'm not. I bought TO LET and not to make a easy dollar in a rising market. My tenant would be gutted if I sold her home from under her and I am not that kind of person. Will I end up in negative equity? Only if my £15,500 4 Bedroomed house loses more than 80% of its current 'value'. And before you say I stole it from a FTBer, this particular property had been oin the market at £20,000 for more than 6 months. It needed work doing on it. Something many people are not prepared to do these days. I bought it for cash before it went to auction. There are likely to be many BTLers whose business plans are less robust. I feel for their tenants. GG
  10. Just as I was thinking a HPC was inevitable, you lot give The SCUM credibility. Disappointing. If property investors are sheeple, surely renters are cheaple? GG
  11. Lots of people are overpaid. The City types with their fat bonuses, the David Beckhams and Lewis Hamiltons. golfers, tennis players, snooker stars. HIP salespeople (I cannot call them surveyors), politicians, the Police. The list goes on and on. Let's not forget the dole wollers (is that a word?), BTL LLs (I wish) and estate agents. If we wanted to change the situation, we could. But we don't care enough. GG
  12. That must be the diffrerence between 'buying to let' and 'buying to make a profit from somebody else buying your investment at a hideously inflated price' or BTMAPFSEBYI for short. BTL. I provide a rental property for my tenant who can choose to leave at a month's notice or less. BTMAPFSEBYI. I take over £70,000 out of the local economy to spend on foreign holidays while my buyer sees the value of their home crash. GG
  13. Oh no, now I'm worried. Should I calculate my yield using the 'present value' of £90,000 or using the purchase price of £15,500. With the former, my yield is a paltry 4.5%. With the latter it is a more respectable 33%. *** Biting my nails worrying what my yield is *** However, if my BTL is owned outright I hope it will provide the equivalent of a week's pay when I retire. I just need to know what my yield is. I didn't even know that I had one till today! GG
  14. Every house is unique. If only the postcode or number on the door or location, it is unique. You cannot have very unique. It's like having a 'bit' dead. I remember seeing an ad on fleaBay for a UNIQUE car registration number. I guess that was as opposed to a registration number not being unique :confused: GG
  15. I just had a look at Dow Jones on the Beeb. The best winner on the day is HOME DEPOT. GG
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