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"sipps Blow Could Boost Sunbelt Homes Sales"

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I challenge you to read this without smiling (or laughing out loud even)

http://www.propertyinspain.net/news/2005/1...sury_taxbreaks/

Terry Walker of Spanish specialists, PropertyInSpain.Net said: "This decision might have the opposite effect to what the Government intended. It could see more people buying sunbelt homes with their own money and low cost euro mortgages, rather than putting the purchase through a SIPP and boosting their pension. Spain with the biggest share of the second homes market could see an inrush of new sales from the start of next year as UK buyers focus on the equity growth and lifestyle benefits rather than their tax and pensions.

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I think London Landlady made the very valid point that people who were waiting for SIPP's, but that fully intended to buy regardless, would no longer have anything to wait for now & that could also have the opposite effect to what you expect.

Of course! How could I have been so stupid!

As Terry Walker says, buyers will now focus on "lifestyle benefits rather than their tax and pensions".

:lol::lol::lol::lol::lol:

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Of course! How could I have been so stupid!

As Terry Walker says, buyers will now focus on "lifestyle benefits rather than their tax and pensions".

:lol::lol::lol::lol::lol:

Like it or not, it's a perfectly valid point. How many people really would have been 'relying' on the assistance under SIPP's anyway? If you could commit enough to your pension fund, you are probably secure financially anyway.

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Like it or not, it's a perfectly valid point.

Like it or not 5bn of your "wall of money" has already vanished into SIPPS, locked out of the housing market. If it is bound for anywhere it will be the stock market.

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Like it or not 5bn of your "wall of money" has already vanished into SIPPS, locked out of the housing market. If it is bound for anywhere it will be the stock market.

Or Gold?

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Like it or not, it's a perfectly valid point. How many people really would have been 'relying' on the assistance under SIPP's anyway? If you could commit enough to your pension fund, you are probably secure financially anyway.

Okay. So there will always be those who are wealthy enough to buy what they want, when they want it and be unconcerned with costs of ownership.

The question is: Will these lucky few be enough to support the Spanish property market and keep people like Terry Walker in work?

Only time will tell I suppose.

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Guest The_Oldie
How many people really would have been 'relying' on the assistance under SIPP's anyway?

The people who thought that although property is grossly overvalued at present, it would represent a reasonable investment if effectively purchased at what they perceived to be a 40% discount?

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Right. I meant capital markets in general. Presumably you meant commodities?

Yup! :D Sorry just caught up with the news on SIPPS Was out at a meeting yesterday. I am grinning stupidly at the moment and not really thinking. Gold is up today so it has started off well. :D

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How many people really would have been 'relying' on the assistance under SIPP's anyway?

No one would have believed in the last years of the nineteenth century that this world was being watched keenly and closely by intelligences greater than man's and yet as mortal as his own; that as men busied themselves about their various concerns they were scrutinised and studied, perhaps almost as narrowly as a man with a microscope might scrutinise the transient creatures that swarm and multiply in a drop of water. With infinite complacency men went to and fro over this globe about their little affairs, serene in their assurance of their empire over matter. It is possible that the infusoria under the microscope do the same. No one gave a thought to the older worlds of space as sources of human danger, or thought of them only to dismiss the idea of life upon them as impossible or improbable. It is curious to recall some of the mental habits of those departed days. At most terrestrial men fancied there might be other men upon Mars, perhaps inferior to themselves and ready to welcome a missionary enterprise. Yet across the gulf of space, minds that are to our minds as ours are to those of the beasts that perish, intellects vast and cool and unsympathetic, regarded this earth with envious eyes, and slowly and surely drew their plans against us....*

TTRTR : "The chances of anything coming from Mars are a million to one, but hey, now they're coming, they'll want somewhere to stay!"

_________________________________________

All credit to H.G.Wells, The War of the Worlds. Thanks to Project Gutenberg

Edited by Sledgehead

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IF SIPPS had been introduced and IF foreign purchases had been prohibited then I suppose it could be said that this might have diverted some people away from foriegn purchases. However to purchase foreign property people need to be either confident that they can realise a lump sum at a later time and borrow to do so or indeed release funds by sellling - something that for a little while SIPPS may have enabled. This is a global bubble and when the plug is pulled proepty everywhere will experience the same pressures - both in sentiment and financial terms.

I had a look on a French listing site that I've not looked at for a while, seems to me that stock is building up rapidly.

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I had a look on a French listing site that I've not looked at for a while, seems to me that stock is building up rapidly.

The news this morning just keeps getting better and better. One of the up days :D to get us through the next downer! <_<:)

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  • 301 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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