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Laura

Can't Get Tenant For Existing House

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I kid you not, I have just had this story direct from the couple.

Having just received a nice voluntary redundancy (public sector) handout for himself, they both think property is the only way to go.

This is despite their ex-main UK residence now being empty for three months & previous tenant trashing it.

I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

My OH gave me the usual discreet sign, although I was going to switch the subject anyway. He thought I might have gone into 'Do you think it's morally right to compete against those searching for a roof over their heads?' mode..... As if i would :)

....................................................

I was giving examples of extreme denial a couple of years ago. Now I regret to say I have concluded that said denial has become locked-in, as I suspected it would.

May I suggest, if you can find another land/planet to sit out this selfish madness, then go there now. Or if you are renting & don't wish to leave, organise a national rent strike ....... (& no, I don't know how you get by the usual UK apathy, sorry.)

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I kid you not, I have just had this story direct from the couple.

Having just received a nice voluntary redundancy (public sector) handout for himself, they both think property is the only way to go.

This is despite their ex-main UK residence now being empty for three months & previous tenant trashing it.

I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

My OH gave me the usual discreet sign, although I was going to switch the subject anyway. He thought I might have gone into 'Do you think it's morally right to compete against those searching for a roof over their heads?' mode..... As if i would :)

....................................................

I was giving examples of extreme denial a couple of years ago. Now I regret to say I have concluded that said denial has become locked-in, as I suspected it would.

May I suggest, if you can find another land/planet to sit out this selfish madness, then go there now. Or if you are renting & don't wish to leave, organise a national rent strike ....... (& no, I don't know how you get by the usual UK apathy, sorry.)

Hey, if theyve got a big redundancy deposit to put down, meaning the taxpayer is unlikely to get rinsed when they inevitably go broke, encourage them to do it by all means, hopefully the morons who bought in 2007 are using these greater fools as their get out clause.

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I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

I put the same question to a switched on mate....."what would you do with 150K right now ?"

answer '"BUY A HOUSE"

I'd bet 90%+ of joe public would give the samie answer, therefore it is !

plain fact is this chap is correct, housing is state backed in the UK via zirp,qe & housing benefit.

it's real, provides an income, only ever goes up / holds its value (they aren't making land you know) :P

gold is so manipulated, it's even worse than property !!

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I think this mindset was a big driver in blowing the bubble so big.

The insecurity and difficulty in finding reliable work over the past few decades has led people to speculate in housing, in a variety of forms. BTL, Holiday home rentals, B&Bs etc etc.

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I put the same question to a switched on mate....."what would you do with 150K right now ?"

answer '"BUY A HOUSE"

I'd bet 90%+ of joe public would give the samie answer, therefore it is !

plain fact is this chap is correct, housing is state backed in the UK via zirp,qe & housing benefit.

it's real, provides an income, only ever goes up / holds its value (they aren't making land you know) :P

gold is so manipulated, it's even worse than property !!

Erm, but aren't the 3 props you mentioned going to be withdrawn?

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I put the same question to a switched on mate....."what would you do with 150K right now ?"

answer '"BUY A HOUSE"

I'd bet 90%+ of joe public would give the samie answer, therefore it is !

plain fact is this chap is correct, housing is state backed in the UK via zirp,qe & housing benefit.

it's real, provides an income, only ever goes up / holds its value (they aren't making land you know) tongue.gif

gold is so manipulated, it's even worse than property !!

Well it`s real, but it doesn`t necessarily provide an income, always go up or hold it`s value (as a generation of sheep are finding out tongue.gif ) buying a house outright for cash is a good idea if you don`t own a house IMO, but right now? no way. Rent/mortgage free might be good for many if they can accept maintenance costs, the fact that the house is not a money machine, and choose an area that is not going Mad Max in the near future? 90%+ of Joe Public don`t have 150k, therefore a big collapse in house prices is inevitable.

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Erm, but aren't the 3 props you mentioned going to be withdrawn?

going to.......still going to...........very soon going to................................just around the corner.........................................the time is almost ready to withdraw stimulus...........................................................................?

oh yes,forgot prop4: they pay your mortgage when you loose your job/get sick/get pregnant/get divorced :lol:

government<->banks are the same thing, it's the biggest conflict of interests in history

Edited by concerned_money

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I kid you not, I have just had this story direct from the couple.

Having just received a nice voluntary redundancy (public sector) handout for himself, they both think property is the only way to go.

This is despite their ex-main UK residence now being empty for three months & previous tenant trashing it.

I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

My OH gave me the usual discreet sign, although I was going to switch the subject anyway. He thought I might have gone into 'Do you think it's morally right to compete against those searching for a roof over their heads?' mode..... As if i would :)

....................................................

I was giving examples of extreme denial a couple of years ago. Now I regret to say I have concluded that said denial has become locked-in, as I suspected it would.

May I suggest, if you can find another land/planet to sit out this selfish madness, then go there now. Or if you are renting & don't wish to leave, organise a national rent strike ....... (& no, I don't know how you get by the usual UK apathy, sorry.)

What's the discreet signal? Is it one of you reminding the other that you need to buy some toilet rolls tomorrow?

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Young girl with the bad neighbour I mentioned a week or so ago says she got valuations of £160 and £165...paid £130 18 months ago.

she earns a pittance, like Mrs Loo, and he does something for an indi car repair place...they were fully stretched with loans from BOMD to buy the current place.

anyway, their "mortgage Advisor" says they can now have £174K...yes, 174, not a nice round figure.

and theyve decided to "market" for 145K.

wonder why they are going under the 2 EAS valuations.....maybe its the 383 other HOUSES asking under 150k for sale within 3 miles on rightmove.

She cant beleive the £174K figure as that is beyond any sense she says, bearing in mind what they earn...but the broker insists the special rate will be repeatable in 2 years....she says theyve rejected that amount, so they are looking around.

According to the paper tonite, the AVERAGE wage around here is between 20 and 21K...Shes nowhere near that, and he...well he's a young man starting a career.....makes you wonder if the broker is pulling her chain, or she is? Apparently there is a shortage of lenders...we shall see.

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I put the same question to a switched on mate....."what would you do with 150K right now ?"

answer '"BUY A HOUSE"

I'd bet 90%+ of joe public would give the samie answer, therefore it is !

plain fact is this chap is correct, housing is state backed in the UK via zirp,qe & housing benefit.

it's real, provides an income, only ever goes up / holds its value (they aren't making land you know) :P

gold is so manipulated, it's even worse than property !!

I am not exactly Joe Public (I have been around here too long) but if someone came to me tomorrow with £150,000 I would buy a house with it. Ok, I know it would be more than likely I would lose some of it in the short term but it would nice to have somewhere decent to live with no (or very minimal) mortgage.

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I think this mindset was a big driver in blowing the bubble so big.

The insecurity and difficulty in finding reliable work over the past few decades has led people to speculate in housing, in a variety of forms. BTL, Holiday home rentals, B&Bs etc etc.

People were funnelled into putting what was left of savings into BTLs, straight after the City scared the little people by stealing all their 'share' money with the deliberately created .com (boom/bust) CON!

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I put the same question to a switched on mate....."what would you do with 150K right now ?"

answer '"BUY A HOUSE"

I'd bet 90%+ of joe public would give the samie answer, therefore it is !

plain fact is this chap is correct, housing is state backed in the UK via zirp,qe & housing benefit.

it's real, provides an income, only ever goes up / holds its value (they aren't making land you know) :P

gold is so manipulated, it's even worse than property !!

At the moment assets are not going up only the cost of living....not even gold....with gold you sell it when it is up, after that it goes down....some people keep it for years, then die. ;)

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I kid you not, I have just had this story direct from the couple.

Having just received a nice voluntary redundancy (public sector) handout for himself, they both think property is the only way to go.

This is despite their ex-main UK residence now being empty for three months & previous tenant trashing it.

I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

My OH gave me the usual discreet sign, although I was going to switch the subject anyway. He thought I might have gone into 'Do you think it's morally right to compete against those searching for a roof over their heads?' mode..... As if i would :)

....................................................

I was giving examples of extreme denial a couple of years ago. Now I regret to say I have concluded that said denial has become locked-in, as I suspected it would.

May I suggest, if you can find another land/planet to sit out this selfish madness, then go there now. Or if you are renting & don't wish to leave, organise a national rent strike ....... (& no, I don't know how you get by the usual UK apathy, sorry.)

you should have gone for it......all barrels blazing.......On the other hand you could have repeated the mantras of their religion.....'they are not making any more land' is one of the best. I have suffered fall out from a friends girlfriend who idolised filth and krusty. My tirade against VI rampers was met with a frosty silence and I have never been invited back.

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At the moment assets are not going up only the cost of living....not even gold....with gold you sell it when it is up, after that it goes down....some people keep it for years, then die. ;)

It's usually a drug related execution! ;)

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It's catch 22 with peoples suggestion to clear out all the overpaid civil servants.

The government may just end up paying them off with QE money and they then use it to buy BTL property.

Hellooooooo black swan...

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At the moment assets are not going up only the cost of living....not even gold....with gold you sell it when it is up, after that it goes down....some people keep it for years, then die. ;)

Gold is not an investment, it is a hedge. It doesn't pay an income but not bothered about that.

If I had 150k I would certainly consider buying a house - To Live In, not for BTL or investment purposes. In fact I have and have rejected it.

The reasoning is this: If I did not have a place for my money in order to beat inflation, and in fact, grow, then I would buy a house. The majority of people are not financially savvy enough to look beyond a Savings Account, nor are they interested in learning about how to do so. I looked, and have found, a few places that are better than cash, gold, most property, most stocks, etc and that is where I am. If that chances I may well dive into property.

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Gold is not an investment, it is a hedge. It doesn't pay an income but not bothered about that.

If I had 150k I would certainly consider buying a house - To Live In, not for BTL or investment purposes. In fact I have and have rejected it.

The reasoning is this: If I did not have a place for my money in order to beat inflation, and in fact, grow, then I would buy a house. The majority of people are not financially savvy enough to look beyond a Savings Account, nor are they interested in learning about how to do so. I looked, and have found, a few places that are better than cash, gold, most property, most stocks, etc and that is where I am. If that chances I may well dive into property.

....the moral of the story is....don't put all your eggs in one basket. ;)

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I kid you not, I have just had this story direct from the couple.

Having just received a nice voluntary redundancy (public sector) handout for himself, they both think property is the only way to go.

This is despite their ex-main UK residence now being empty for three months & previous tenant trashing it.

I mentioned gold & silver might be worth a look due to the parlous state of the UK economy & the probable effects on the currency.

Talk about reaction:- "What use are they?!! - You can't get an income from them!" said Mr Man with some force.

My OH gave me the usual discreet sign, although I was going to switch the subject anyway. He thought I might have gone into 'Do you think it's morally right to compete against those searching for a roof over their heads?' mode..... As if i would :)

....................................................

I was giving examples of extreme denial a couple of years ago. Now I regret to say I have concluded that said denial has become locked-in, as I suspected it would.

May I suggest, if you can find another land/planet to sit out this selfish madness, then go there now. Or if you are renting & don't wish to leave, organise a national rent strike ....... (& no, I don't know how you get by the usual UK apathy, sorry.)

I was at a house party in january and a conversation between a few guys turned to the economy and houseprices. I said a few things but mostly had to smile and nod. Eventually though I had to say something and after one toff had given his opinion that the recession was over, houseprices were to restart their upward movement and all was fixed I blurted out that I disagreed. They all went quiet and looked at me incredulously, I told them that I believed that prices would fall further this year and that we were only at the start of this mess and the effect would last years. The toff was disgusted and ended up walking off within minutes, as did the others to reform their little group away from me, lol

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I was at a house party in january and a conversation between a few guys turned to the economy and houseprices. I said a few things but mostly had to smile and nod. Eventually though I had to say something and after one toff had given his opinion that the recession was over, houseprices were to restart their upward movement and all was fixed I blurted out that I disagreed. They all went quiet and looked at me incredulously, I told them that I believed that prices would fall further this year and that we were only at the start of this mess and the effect would last years. The toff was disgusted and ended up walking off within minutes, as did the others to reform their little group away from me, lol

So 8 out of 10 us agree that denial is locked-in.

2 out of 10 of us are staying in Au & Ag

& the other 59 million have no idea.

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So 8 out of 10 us agree that denial is locked-in.

2 out of 10 of us are staying in Au & Ag

& the other 59 million have no idea.

Weirdly enough: I seem to find that general depressive feelings about the economy are now wide-spread amongst my peers (30 something singles or newly married with no kids) and translates into anxiety about job security. Nothing new, but this somehow co-exists with general HPI bullishness (it will always go up, bricks & mortar etc). So denial about HPC - yes, denial about economy - no.

Oh, and count me in the PM gang :)

Edit to add: Hmmmm, maybe I am friends with the couple you posted about. :)

Edited by Cash with Nowhere to Go

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Weirdly enough: I seem to find that general depressive feelings about the economy are now wide-spread amongst my peers (30 something singles or newly married with no kids) and translates into anxiety about job security. Nothing new, but this somehow co-exists with general HPI bullishness (it will always go up, bricks & mortar etc). So denial about HPC - yes, denial about economy - no.

Oh, and count me in the PM gang :)

Edit to add: Hmmmm, maybe I am friends with the couple you posted about. :)

Yes i would agree with that sentiment people are worried about the economy but think house prices will stay high and increase.

A few reasons, the people in their 30's will have parents that have houses worth massive amounts compared to what they paid for them , and will have heard the stories about people paying only x for somewhere that is now worth y, they would have heard these stories over and over again. So it is ingrained in their heads that prices will always stay up.

If people stop and look why houses have always gone up so much they would maybe see the reasons and also see that what has led to this increase, high wage inflation over a few decades followed by very low interest rates plus higher x salary mortgages , they would also see that it has come to the end of the line and those reasons that have led to this growth are not there any more. But people do not sit down and look at everything.

Another thing I have noticed in life and a phrase that I have coined is" lying to yourself". I have noticed people with money worries big debt's and big mortgages lie to themselves how much their net worth is . It is no different to someone with massive cc debt's not opening the mail they put their head in the sand and hope the problem goes away.

With the people that you meet in social situations , you do not know how much debt they are in, how big their mortgages are , how their financial situation would look in the cold light of day if they sat down and went through all the assets and liabilities. Maybe many people are slightly aware that things are not what they seem and in the back of their mind's they are not sure how safe they are. Their s--t has not hit the fan yet but they are becoming aware a bit more of what is going on around them and might be starting to feel a bit uneasy. The conuter balance to this telling themselves that everything is going to be ok as the house they have will always go up, that makes them feel better and stops them having to confront reality . They do not want to look the deman in the face and them saying to you or others and continually quoting houses always go up is not them speaking to you or anyone else but reasuring themselves that they will be ok.

Quite often people do not like reality and do not confront it untill they are forced to.

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Rule 1 - Never discuss your negative views on house prices with more than one non-believer at a time.

Sorry to contradict an 'elder' (I see you've been on since 2005), but isnt the first rule of HPC that you do not talk about HPC? (Also the second). Somewhere down the line comes the ones about only two people to a 'fight' and that if this is your first night talking to non-believers then you have to argue with one of them?

Edited by General Melchett

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  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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