Btl Scum Regrouping And On The Offensive. -- Merged

[shindigger]

So no back tracking on the BTL purge from Hammond the house builder.

Quality.

[Lovely Rum]

8 minutes ago, shindigger said:

So no back tracking on the BTL purge from Hammond the house builder.

Quality.

YEYS!!!

[TheCountOfNowhere]

27 minutes ago, shindigger said:

So no back tracking on the BTL purge from Hammond the house builder.

Quality.

Who needs to backtrack when you've just printed £170Bn to fund them and lowered IRs to 0.25%.

 

The only back tracking we need is 10 years, back to 2007, and see the bankers strung up for their crimes.

[iamnumerate]

1 hour ago, BuyToLeech said:

It never increases the supply of land, because such a thing is impossible. 

There are some things you can invest in that are near substitutes: 

For example: Land reclamation, of the sort they have in the Netherlands; transport infrastructure (which effectively brings land closer to where it is needed).  These can respond to demand in a limited way.

Also, the government can relax planning restrictions.  This doesn't respond to demand at all.

However, buying up land (which is all landlords do) will not cause more land to be made anywhere, ever, because there's no such thing as magic. 

If housing were somehow uncoupled from land, the market would have fixed the 'housing shortage' problem long ago, not by building houses but by eliminating landlords.

True but you can increase the amount of housing - the problem is partly planning controls.

[shindigger]

6 minutes ago, TheCountOfNowhere said:

Who needs to backtrack when you've just printed £170Bn to fund them and lowered IRs to 0.25%.

 

The only back tracking we need is 10 years, back to 2007, and see the bankers strung up for their crimes.

I fully expected him to unwind a good chunk of Osbornes work. So its a start.

Id also question your use of the word "just". All that cash has been done. Rates will only go one way now.

I see reductions Hardy... Be patient. etc etc etc....

[TheCountOfNowhere]

1 minute ago, iamnumerate said:

True but you can increase the amount of housing - the problem is partly planning controls mass import of slaves. 

 

[TheCountOfNowhere]

4 minutes ago, shindigger said:

I fully expected him to unwind a good chunk of Osbornes work. So its a start.

Id also question your use of the word "just". All that cash has been done. Rates will only go one way now.

I see reductions Hardy... Be patient. etc etc etc....

He was in charge when Carney did it.  Should have had him arrested.

[Bland Unsight]

5 hours ago, shindigger said:

So no back tracking on the BTL purge from Hammond the house builder.

Quality.

Indeed. Seems like a good time to recall the opinions of the author of the Ros Report, back in the day.

Quote

Dr Rosalind Beck says:

08/07/2015 at 19:55

I’ve got a feeling even the Government doesn’t know what it has proposed… It’s still not making sense to me. As others have said, we can all offset 100% of the interest against our gross income. My worry is that somehow it is going to mean we can’t offset the interest payments at all. Because people have been going on over the last few weeks or months about ‘a level playing field’ between residential and BTL mortgage holders – despite the fact that BTL is a business and we landlords also can’t offset our residential interest payments on our actual homes. According to that logic, we also wouldn’t be able to offset the money we spend on insurance, maintenance, everything really. We would be taxed on the gross rental income. According to this, our business wouldn’t be a business; it would just be a personal hobby, where we spend money on other people’s homes as an act of altruism.
Does anyone here have a contact in Government that they can ask to explain this? It seems like it could be a ****-up. Hopefully it will get cleared up in the next few days.

(Emphasis added)

Maybe Bosher's not explaining it clearly enough. Maybe what the situation needs is more ranty letters?

[TheCountOfNowhere]

I’ve got a feeling the Government knows EXACTLY what it has proposed

[Lavalas]

I love that she thought the introduction of some primary legislation could be a c*ck up rectified by asking round for someone to ring in government. It explains a lot about the last two years of letter writing.

I really must read the start of this thread one day. It must be hilarious.

[Bland Unsight]

7 minutes ago, Lavalas said:

I love that she thought the introduction of some primary legislation could be a c*ck up rectified by asking round for someone to ring in government. It explains a lot about the last two years of letter writing.

I really must read the start of this thread one day. It must be hilarious.

It must always be kept in mind that the PovertyLater clowns are fools who do not know that they are fools. 

[Dyson Fury]

30 minutes ago, Bland Unsight said:

Maybe Bosher's not explaining it clearly enough. Maybe what the situation needs is more ranty letters?

No no no.  You have missed the point completely.  You see:

Quote

Philip Hammond stated in the Budget:

‘A fair system will also ensure fairness between individuals so that people doing similar work for similar wages and enjoying similar state benefits pay similar levels of tax.’

I was very pleased to see this basic principle affirmed by the Chancellor as, logically,  he will now have to reverse Section 24.

So the government has had to concede defeat.  No more letters needed.

https://www.property118.com/similar-tax-similar-incomes/95315/

[mrtickle]

Excellent stuff. Yes, it was "all cleared up" in a few days. In the sense that's how long it took many people to see clearly what it meant. LOL.

 

[monkeyprojects]

1 minute ago, Dyson Fury said:

No no no.  You have missed the point completely.  You see:

So the government has had to concede defeat.  No more letters needed.

https://www.property118.com/similar-tax-similar-incomes/95315/

She clearly doesn't understand that it actually means the opposite. All people should be treated equally so eventually there will be no tax relief on btl loans...

[Pop321]

27 minutes ago, Lavalas said:

I love that she thought the introduction of some primary legislation could be a c*ck up rectified by asking round for someone to ring in government. It explains a lot about the last two years of letter writing.

I really must read the start of this thread one day. It must be hilarious.

They never really got it and I doubt they ever will. 

Not a tenant tax, not a Landlord tax.....it is a 'tax' on leveraging. (Well a removal of tax relief). 

So why can other businesses leverage and off set interest costs? Because they borrow to buy equipment and resources to carry out their business (often depreciating equipment).....businesses do not borrow to 'buy assets'.

And there in lies the whole debate.....investment or business. So still some room for challenge until you throw the fact that we are talking about housing. A basic need for all, like water, food, energy it is political and essential and only an idiot would think the government would not control, tax and equalise. 

You can't have 2m landlords owning 20m houses (there are only 26m houses in total.). They probably won't let me buy all the water supply either.  

The control of PSR will continue and I see tax relief disappearing altogether eventually. 

So the action is clearly to write ranty letters and cry out shrieks of entitlement. I missed the boat on the letter writing, sold when empty and now have virtually no debt. So I feel daft now and best write a letter to a  MP saying how daft they are, how brilliant I am and can they send me some money rather than fund a hospital or something less clever than my Ponzi leverage housing plan.

[TheCountOfNowhere]

22 minutes ago, monkeyprojects said:

She clearly doesn't understand that it actually means the opposite. All people should be treated equally so eventually there will be no tax relief on btl loans...

They are either half wits or dim wits, not sure which.

TPTB are just going to take more and more and more to try and prevent their system from collapsing.

 

it's gone past the event horizon now IMHO.

[mrtickle]

48 minutes ago, Dyson Fury said:

No no no.  You have missed the point completely.  You see:

So the government has had to concede defeat.  No more letters needed.

https://www.property118.com/similar-tax-similar-incomes/95315/

Unbelievable. Almost 2 years in, still in deseperate denial. 

[mat109]

3 hours ago, mrtickle said:

Unbelievable. Almost 2 years in, still in deseperate denial. 

Is it me, or does the constant use of the word "stated" get on anyone else's nerves? All the P118ers use it, all the time.

The chancellor stated this, you stated that.

Other decent verbs exist.

[Bland Unsight]

18 minutes ago, mat109 said:

Is it me, or does the constant use of the word "stated" get on anyone else's nerves? All the P118ers use it, all the time.

The chancellor stated this, you stated that.

Other decent verbs exist.

All their years living off state handouts (LHA paying the interest expense on their mortgages) has left them with a deep and profound love of the word state.

Edited March 9, 2017 by Bland Unsight

[mrtickle]

21 hours ago, mat109 said:

Is it me, or does the constant use of the word "stated" get on anyone else's nerves? All the P118ers use it, all the time.

The chancellor stated this, you stated that.

Other decent verbs exist.

I'm equally annoyed at the creeping use of the Americanism "ahead of" to describe something happening BEFORE something else. It's wrong, too - "ahead of" can only describe things in a physical space, like cars on a road. Not things happening in time.

Before is shorter, easier to understand, more correct. etc. The BBC are terrible for this.

 

[Venger]

5 minutes ago, mrtickle said:

I'm equally annoyed at the creeping use of the Americanism "ahead of" to describe something happening BEFORE something else. It's wrong, too - "ahead of" can only describe things in a physical space, like cars on a road. Not things happening in time.

Before is shorter, easier to understand, more correct. etc. The BBC are terrible for this.

I know, but only because I took note of your post below, when you were reviewing a BTL news release, and put it into a notepad file on ‎23 ‎February ‎2017, ‏‎00:21:25 in a 'Wisdom' folder.    Always willing to learn and don't want to fall into that 'ahead of - before' trap myself.

On 2/22/2017 at 11:55 PM, mrtickle said:

Interesting page. Yet another use of the ghastly American "ahead of" (which is only right for physical objects in physical spaces - not time!) instead of the correct - and shorter - word "before", which it seems is being rapidly erased from our language. The BBC love saying "ahead of" everything all the time now - only a few years ago when I heard it on an American TV News clips it was incredibly jarring.

Oh, and it's in comic sans font too. That says it all.

 

[mrtickle]

21 minutes ago, Venger said:

I know, but only because I took note of your post below, when you were reviewing a BTL news release, and put it into a notepad file on ‎23 ‎February ‎2017, ‏‎00:21:25 in a 'Wisdom' folder.    Always willing to learn and don't want to fall into that 'ahead of - before' trap myself.

 

Oops. I must be a stuck record!

[The Knimbies who say No]

22 hours ago, Bland Unsight said:

All their years living off state handouts (LHA paying the interest expense on their mortgages) has left them with a deep and profound love of the word state.

If I was smarter and funnier I could firm up a parallel with incarcerate and incarcerated.

[hi5lo5]

https://www.property118.com/philip-hammond-prepared-u-turn-now-put-pressure-reverse-section-24/95489/

Love it 

 

Edited March 16, 2017 by hi5lo5

[AvoidDebt]

:/

Edited March 16, 2017 by AvoidDebt