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Agentimmo

Just Watched Property Snakes & Ladders On Ch4

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It was filmed up until about April 2009. 3 projects. Every one showing losses on paper. So what do our budding entrepreneurs do? Cut their losses ? Nope. They decide to rent them out.....except no-one's renting at the price they need to cover the mortgage. So they move in themselves. One family (mother, father, son) admitted that the whole project put a big strain on their relationships. The blonde bint dyed her hair back to brunette and moved in with her mum...still convinced she'll be a property millionaire in a few short years. :rolleyes:

The last young bloke, mid-20s, was looking to rent out 3 of the rooms. Imagine, from budding millionaire to "hostel owner" in a few short months. I must buy his book when it come out.... :lol:

All in all, good bear stories. And with Ms. Beeney stating that things will only get worse, even in a rising market, as all the BTL brigade look to offload their properties. The flooded market will cause a slump.

Can't wait for the next leg down and I suspect Ms. Beeney is secretly looking forward to it as well.... ;)

Edited by Agentimmo

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watching it now on C4+1 -

i feel a certain nostalgia for a time when people just lived in houses, and chose not to televise their greed and stupidity

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watching it now on C4+1 -

i feel a certain nostalgia for a time when people just lived in houses, and chose not to televise their greed and stupidity

I agree, so why are you watching it ? <_<

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The classic statement during the program was that its not about supply and demand regards physical housing but supply and demand regards available credit. The credit tap will be off for forseable years we won't see 125% loans or 7 x earnings loans for at least another generation. With all time low interest rates the only way is up (for interest rates).

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