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Cozza

Sentiment Change In The Housing Market

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Wonder how long it will take until some of these ladies wake up.

"we will be able to know we won't be chucked out on the landlords whim and that is worth any amount of scrimping."

She seems pretty awake and clued up to me. Unless the UK adopts the longterm leases that tenants enjoy on the continent, people will always prefer to own rather than rent their home.

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"we will be able to know we won't be chucked out on the landlords whim and that is worth any amount of scrimping."

She seems pretty awake and clued up to me. Unless the UK adopts the longterm leases that tenants enjoy on the continent, people will always prefer to own rather than rent their home.

You can't get kicked out 'on a whim'. Section 8 Notices to quit during the tenancy agreement cannot be enforced on a mandatory basis through the courts. Section 21 Notices on the expiry of the tenancy agreement are mandatory, however, but only as long as statutory requirements have been fulfilled.

The situation on the continent is not that different ,although in France, increasing rent is a regulated area. There, you can still compel a tenant to leave if you or a family member requires tthe property as a main home.

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Mind you, they're talking about starting to save to buy a house.

So by the time they're ready in 2-3 years time, they could be very nicely placed to pick somewhere up at a price below the long term average.

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"we will be able to know we won't be chucked out on the landlords whim and that is worth any amount of scrimping."

She seems pretty awake and clued up to me. Unless the UK adopts the longterm leases that tenants enjoy on the continent, people will always prefer to own rather than rent their home.

I've been renting in west london for more than 10 years and I've only ever moved at my own whim...never the landlords. Does this really happen alot and I've just been lucky?

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I agree that sentiment change is a few years off.

When the average man in the street says he wouldn't touch property with a bargepole and that renting is the way to go, I may consider buying.

In the meantime, I'm renting a nice house in a good area for less than the bank interest I'd lose if I drew the cash out of the bank to buy it :D.

Oh, and my landlord treats me like a valued customer :).

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She seems pretty awake and clued up to me. Unless the UK adopts the longterm leases that tenants enjoy on the continent, people will always prefer to own rather than rent their home.

clued up?

£200 a month for three years?

£15k deposit?

sounds more desperate than clued up to me.

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I've been renting in west london for more than 10 years and I've only ever moved at my own whim...never the landlords. Does this really happen alot and I've just been lucky?

agreed - same here, not london tho

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agreed - same here, not london tho

Quality tenants are worth their weight in gold....and the rent doesn't go up, may never get another one like it. ;)

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When we STR'd the first let was supposed to be for a long term, but the landlord wanted back in after 6 months, the next property was marginally better at 12 months, then out again.. Very inconvenient.

Fingers crossed the current landlords stick to their word and say we can have it as long as we want.

I'd love tenants like us.

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agreed - same here, not london tho

I suppose it only takes once being chucked out of a rental at the whim of a landlord to annoy, but still...

I do sometimes get the impression people use this reason not because they've suffered it themselves, but just to add another percieved negative on renting to help justify their unfaltering desire to buy (borrow) themselves a "home".

I'd much rather run the risk of "landlords whim" than strap an 400tonne anchor of debt round my neck!

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I do sometimes get the impression people use this reason not because they've suffered it themselves, but just to add another percieved negative on renting to help justify their unfaltering desire to buy (borrow) themselves a "home".

I think that much is obvious, but well put

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I'd much rather run the risk of "landlords whim" than strap an 400tonne anchor of debt round my neck!

I’ve always thought that too: it’s like people would rather risk overpaying on the biggest financial commitment they’ll ever make, just to avoid the possibility of moving house once or twice. Even if you pay for removal men to come and pack the boxes for you, you won’t pay more than 1k for moving!

And given where rents are compared with house prices, I’d think the risk of kids being unsettled is far higher for those who take out a mortgage that they can’t really afford, and then struggle financially, than it is in having to move once or twice during childhood.

This little “truth” is pretty close to renters’ hearts though, cos it feels like a bit of a personal attack. I suspect we hear it as: “renters would put financial decision before their family’s stability, aren’t they terrible!”. But in reality guess it’s just another bullsh*t accepted truth that people repeat without thinking through, a bit like “it’s a good time to buy” during late 2008. (Funny, I don’t hear that one any more...I think sentiment is changing, just slowly)

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I suppose it only takes once being chucked out of a rental at the whim of a landlord to annoy, but still...

I do sometimes get the impression people use this reason not because they've suffered it themselves, but just to add another percieved negative on renting to help justify their unfaltering desire to buy (borrow) themselves a "home".

I'd much rather run the risk of "landlords whim" than strap an 400tonne anchor of debt round my neck!

It's happened to me.

1986 - ghastly evil landlady.

1992 - landlord returning home from abroad.

2005 - landlady selling up UK assets (after divorcing her english husband) and returning to her native Switzerland.

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In the road I rented in for 9 years, there were 6 other rentals.

one latecommer reluctant landlord was encouraged by the EA our LL was with to rent to DSS and put the rent up...same house as ours, wanted £200 more.

they got the high value tenant...for 6 months..then voided for months.

US, our landlord was told to put the rent up...we said no...and moved to a place 4 times the size, with double drive and a garden large enough to walk round, shed, outdoor laundry, 4 double (at least) bedrooms, just huge...and its CHEAPER than we were going to be paying for the other place.

I think the unstable landlord is a function of 1: greedy EA on commisions, and 2: new BORROW to let landlords, who are looking for a monthly flow.

We are currently being told that rents are going up...is this to attract private renters, or more likely, to attract BTL landlords to the Agent that can acheive these rents?

And how can an Agent acheive higher rents with sitting tenants? the answer is obvious...kick them and get another mug in...quality? they dont give a flying ******.

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I STRed in 2003

Aha! This is where all the bitterness comes from! :P

I think the lady on the thread is fine. She is saving for a house over a two or three year period, not loading up on BTL or 100% mortgage. Problem is she is only likely to save £7k (rather than 15k) in three years unless the promotions she talks about come about. Best of luck to her, she sounds sensible. Don't know why workingnomad has decided to troll the thread.

Edited by FaFa!

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I'm not bitter. I am willing to admit I was wrong.

I STRed in 2003 because, to me, it looked like 1988 all over again. Prices had risen rapidly since the .com fall out - as interest rates fell - and it looked like a bubble. Prices were going up in leaps and bounds. In fact, at that stage, I timed it well. I got out just as the market was slowing in the second half of 2003 as, having hit what was then a 50 year low of 3.5%, base rate moved up in 0.25% steps throughout 2004. By the beginning of 2005, with base rate at 5.25% the market was stalling.

What should have happened was a house price correction. What actually happened was idiots like Blanchflower managed to convince his colleagues on the MPC to drop interest rates - 'we must keep the credit driven growth going at all costs'. So, in August 2005, the BOE dropped rates 0.25% and, in January 2006 the market went nuts again and within a couple of months made up all the ground lost in 2004 and 2005.

The lunacy continued until the credit crunch and, despite EVERYTHING, house prices refuse to go down by any significant amount.

I had no idea the government would collude with the banks to sell half the population into debt slavery - and am now willing to believe they'll do anything, including printing money, to keep this thing afloat.

I was wrong. I wish I wasn't. I wish my kids had a chance of buying their own homes. But they don't - and won't. People used to endlessly take the p!ss out of anyone who presented a logical argument as to why 'it's different this time'. I was one of the p!ss takers.

Not any more. I can't kid myself anymore that the current situation resembles 1988 in any shape or form. 1988 was a bubble inflated by the banks and the then chancellor's stupid announcement in advance that joint mortgage tax relief was ending. When the bubble burst, the government (in those pre Euro days) let it deflate.

22 years on - things are different. Globalization for one thing, the Euro for another, the shrinking of manufacturing for another - the dependence on debt to create growth for another.

There isn't going to be a house price crash or, if there is, it will be part of a wider economic crash. Makes me sad to say it - but, as I have said a few times on here lately, I can't kid myself any more.

And, in terms of house prices in 2003 and now - will the charts show them pretty flat. Down in 2004/5 - up in 2006/7 - flat since. Overall- flat.

I just spent an hour looking at all the property in my 5 mile radius that I might be interested in - over 1,000 properties. I reckon on 5% have dropped their prices and those that have have done so by peanuts.

They ain't selling but they ain't dropping either. Nothing is forcing them to drop.

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.

They ain't selling but they ain't dropping either. Nothing is forcing them to drop.

I think most people on here have over estimated the problem. The vast majority of people are sitting pretty in houses that are fully owned or have very small mortgages left on them. The people that havn't been prudent have had a fright and are paying down their debt as quick as possible having being saved by the low interest rates and high employment levels.

It would take a huge rise in rates or massive jumps in the unemployment levels to get the HPC of 50% that some have trumpeted on here for the past 3 years. A few blokes losing their IT job to Mr Singh or a few middle management getting sacked from the local council isn't going to bring the prices crashing down either. The whole country is swimming in cash , have a look how much is taken by Camelot three times a week , the shops are full , the bars and restaurants are busy , 10 deep at the tills in Tesco, the roads are full , car parks the same , trains standing room only evn on a weekend.

Reading this site for the past few years you'd think the UK was a totally different place to what it was two years ago but in reality little has changed.

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I think most people on here have over estimated the problem. The vast majority of people are sitting pretty in houses that are fully owned or have very small mortgages left on them. The people that havn't been prudent have had a fright and are paying down their debt as quick as possible having being saved by the low interest rates and high employment levels.

It would take a huge rise in rates or massive jumps in the unemployment levels to get the HPC of 50% that some have trumpeted on here for the past 3 years. A few blokes losing their IT job to Mr Singh or a few middle management getting sacked from the local council isn't going to bring the prices crashing down either. The whole country is swimming in cash , have a look how much is taken by Camelot three times a week , the shops are full , the bars and restaurants are busy , 10 deep at the tills in Tesco, the roads are full , car parks the same , trains standing room only evn on a weekend.

Reading this site for the past few years you'd think the UK was a totally different place to what it was two years ago but in reality little has changed.

Fair point. Not having a go at you personally - but why the bear status?

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Fair point. Not having a go at you personally - but why the bear status?

I do believe they are overpriced and want them to fall.

I'd like the 25 year olds today to have the same chances i got. The ability to have somehwere to live cheaply and money to spend on themselves instead of just servicing debt.

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I do believe they are overpriced and want them to fall.

I'd like the 25 year olds today to have the same chances i got. The ability to have somehwere to live cheaply and money to spend on themselves instead of just servicing debt.

Thanks.

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  • 261 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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