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Mods please feel free to move to anecdotal, but this is too good to miss.

Looked at a house in the spring. £550k. It was an open house day and there were a number of 'investors'. I may have posted about it at the time, spoke to one about how it was cheaper to rent than buy in the area at current prices.

I liked it, but not at that price. It was changed to offers over £500k and quickly went SSTC. this was April/ May time.

Got a call from the EA today saying the buyer was an investor and had pulled out due to the budget tax changes and asked if would I be tempted to put an offer in at a lower price. Said the seller would accept £500k. I said I was expecting more property to come on the market due to the tax changes so was holding off until the autumn to allow them to work through.

I am generally astounded this has just happened, I'm also astounded that a Tory government has done this. I am about to tuck into my hat. I never thought that a party whose rhetoric was so pro-rentier would do something like this.

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Well, the world has turned up side down innit.....

Maybe who ever the Tories are have seen that things can`t go on and are just setting things `in reverse.`?

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I'll start asking around colleagues in HK and Singapore to see if there is a change in sentiment in the east yet. If there is.......I am going long popcorn and nooses.

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Hopefully long popcorn and short nooses.

Thankfully the way it's graded in over 4 years will give the landlord scum plenty of time to feel the sweet wind of reality. So they can get out before, they 'get out' for good.

I'm expecting a raft of those horrible 'family killings' in about a years time.... :(

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...

I'm expecting a raft of those horrible 'family killings' in about a years time.... :(

boy-that-escalated-quickly_zps178aa246.j

Christ - can't we have a couple of weeks of speculating on possible prices falls over the next four years before moving on to the most extreme possible repercussions that may occur consequentially in a vanishingly small number of cases, (and may have occurred anyway because broken biscuits hurt people and the rationalisation of the hurt is not the cause...).

[Note: It's good to talk. If your ignore list is longer than the list of friends in your profile, deleverage fast or learn to talk. THIS IS ADVICE. If your ignore list is longer than your list of friends but you have no leverage then I hope that you get everything you want, though obviously we can't have a both a depression and wages rising to support the recovery in house prices at the same time, so somebody is going home empty handed. On verra.]

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Like there waz ever any difference between the parties?

There is. Conservatives forced through painful recession to right the economy. Then Labour came along and introduced all sorts of giveaways; non-means-tested Winter Fuel Allowance, free bus/tram/train, fuzzed in the FSA, windfall taxes, minimum wage - which them allowed everyone above to have massive payrises... house prices trebled. It's hard to stand against Labour when they're promising to spend ever more easy £billions, and the demographic is high on HPI gruesome economy.

1 October 2005

Departing Tory leader Michael Howard said he believes only an economic slump can return the Conservatives to power.

He told the paper: "When most people are relatively content with their economic lot, it is very hard for an opposition to win elections.

"I don't want the economy to go down the pan - I care about the country and I don't want anybody to go through any economic difficulties.

Smoothing by Conservatives out of that, was never going to be instantaneous. Banks first... position the banks.

2008

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Got a call from the EA today saying the buyer was an investor and had pulled out due to the budget tax changes and asked if would I be tempted to put an offer in at a lower price. Said the seller would accept £500k. I said I was expecting more property to come on the market due to the tax changes so was holding off until the autumn to allow them to work through.

I am generally astounded this has just happened, I'm also astounded that a Tory government has done this. I am about to tuck into my hat. I never thought that a party whose rhetoric was so pro-rentier would do something like this.

Good reading. I don't want to get excited.. think it will slowly play out over many months.. but will accept good news as it comes. I was beginning to lose belief in Conservatives, but they've done it before of course. Forced through painful house price corrections; deliberately been unpopular and not-nice. Don't want to turn this political really, but I can't recall Labour ever doing that; happy shiny people - "everyone should have what they want, the money never runs out... nothings is ever our fault - can't say the word austerity/cutbacks in 2010.. look at those bad nasty Conservatives". Tell it to Blairs' multiple houses portfolio, and even their/her recent purchase in Manchester somewhere.

Yvette Cooper vs Andrew Neil (on UK debt). 22/09/2008.

Andrew Neil: Under you watch has any country had a bigger borrowing binge than Britain? Any country?

Yvette Cooper: What you've got to look is the way in which people borrow for home ownership. And actually I think that's a good thing that people want to be home owners and should be able to be home owners, and you shouldn't punish people for that, and shouldn't say that's somehow a bad thing if people want to become home owners.

Edited by Venger

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There is. Conservatives forced through painful recession to right the economy.

Too funny.

They tried to join the Euro! When they feared the short term consequences they started the housing boom. Labour continued it and Coalition/Tories again.

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Was this a house in Oxford?

Yep.

To be fair the sums didn't work in this area beforehand. For example, I'm renting a house for £1350pm which would go on the market for around £700k. But with an unfavourable tax headwind blowing there's suddenly the real risk of negative cash flow while you're waiting for your magical capital appreciation to take place.

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Mods please feel free to move to anecdotal, but this is too good to miss.

Looked at a house in the spring. £550k. It was an open house day and there were a number of 'investors'. I may have posted about it at the time, spoke to one about how it was cheaper to rent than buy in the area at current prices.

I liked it, but not at that price. It was changed to offers over £500k and quickly went SSTC. this was April/ May time.

Got a call from the EA today saying the buyer was an investor and had pulled out due to the budget tax changes and asked if would I be tempted to put an offer in at a lower price. Said the seller would accept £500k. I said I was expecting more property to come on the market due to the tax changes so was holding off until the autumn to allow them to work through.

I am generally astounded this has just happened, I'm also astounded that a Tory government has done this. I am about to tuck into my hat. I never thought that a party whose rhetoric was so pro-rentier would do something like this.

You were looking to buy a UK house for 500k? Are you mad? Do you realise what it is worth?

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Also, I should add that I am moving this month (into a larger rented house locally), it will be interesting to see whether our LL sells up or re-lets.

There was some rumbling from them last year about selling up "in a couple of years", I wonder if these changes will push them into that decision?

They're redecorating after we move so they are not yet marketing it for further letting.

I'll keep you posted.

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You were looking to buy a UK house for 500k? Are you mad? Do you realise what it is worth?

I was needing to move house and looking seriously at all options. Around £500k is my budget, it's a relative sum based on my earnings and capital, I needed to assess the pros/ cons of renting vs buying in the actual current market, not just looking at websites and reading forum rants :)

There are no good options in the UK housing market right now for someone in my position, just least worst options.

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Too funny.

They tried to join the Euro! When they feared the short term consequences they started the housing boom. Labour continued it and Coalition/Tories again.

From memory alone - I don't recall it that way. John Major got laughed (by Labour) for putting so much effort into securing opt-outs at Masstricht, and they entered the EMU - precursor for monetary union, giving them the option to stay on-side but without committing. First article I checked suggests the same.

1) Sir John Major

The top slot is reserved for Major who negotiated an opt out from the single currency during the Maastricht treaty negotiations in 1991.

We were very concerned that there wouldn't be convergence, by which piece of jargon we meant that the southern European states wouldn't be able to compete with Germany within a single currency on a level basis. Of course in 1991 Germany was still unifying; but we looked forward to when she'd have a much more powerful economy and ask ourselves whether the southern states would compete. We didn't think so, and we thought that would be chaotic.

more http://www.theguardian.com/politics/wintour-and-watt/2011/nov/24/john-major-davidcameron

What housing boom? No one dragged anyone into the banks when end of main part of MIRAS on a schedule was announced late 80s. Then admittedly some sillyness trying to keep £ in the EMU range, capitulation to the will/firepower of the markets (despite having option of billions of deutschmarks to borrow, but frayed nerves from position markets taking against them, and losses). Recession, HPC.. "If it's not hurting it's not working". Election campaign.. Kinnock big smiles flashy lights all-ego-yeah-year.

Major out in towns around the land standing on a soap-box setting out the facts. Big win Conservatives.

johnmajorsoapbox.jpg

Steady steady from 1992... still pushing down with purging malvestment, a few fall-outs, allegations of sleeze... then shiny New Labour promising all the promises... 1997 spindoctors, frantic cheerers of Tony into no.10. Oasis and co at Downing Street. First term looking steady but some major changes in play (too many to list), then second term the HPI free-spending party begin after the first term.

Edited by Venger

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My neighbour rents out a small flat, suspect it's owned outright or at least very high equity. Says he's going to sell it - "when they start these things it only goes one way".

If the Conservatives want people to own because OO are more likely to vote Conservative - does that mean that Labour may have intentionally encouraged BTL because tennants are more likely to vote Labour...?

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The Tories seem to have changed with this new government.

Or was it the LibDems that caused the last 5 years of misery?

The LibDems kept telling us how they had watered down 'Savage Tory policies'

Now we know what they meant.

Thanks Clegg you b..............

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My neighbour rents out a small flat, suspect it's owned outright or at least very high equity. Says he's going to sell it - "when they start these things it only goes one way".

If the Conservatives want people to own because OO are more likely to vote Conservative - does that mean that Labour may have intentionally encouraged BTL because tennants are more likely to vote Labour...?

A lot of them do tend to be teachers....

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The Tories seem to have changed with this new government.

Or was it the LibDems that caused the last 5 years of misery?

The LibDems kept telling us how they had watered down 'Savage Tory policies'

Now we know what they meant.

Thanks Clegg you b..............

Cameron said that he wished he'd implemented HTB sooner.....

Enuff said.

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My neighbour rents out a small flat, suspect it's owned outright or at least very high equity. Says he's going to sell it - "when they start these things it only goes one way".

At the moment there's a lot of talk, over the next few months we'll find out if any of it turns into action.

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