Jump to content
House Price Crash Forum
Sign in to follow this  
TheCountOfNowhere

Are The Pension Raiders Pushing Up Prices ?

Recommended Posts

Just noticed some insane asking prices here locally ( northants ) in the last 2 weeks.

( Despite there being 30% reductions across the board ).

I've seen several really over priced houses going SSTC this week too.

Are the boomer pension raiders pushing up prices now or are they not hat stupid ?

The higher it goes the more spectacular the collapse is going to be, but it's really really mental now.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

I can't say I've seen much evidence of it. I'd love to see some statistics on how many are actually releasing it all early - I suspect not many.

Share this post


Link to post
Share on other sites

FWIW I got quite into this when complaining to the BBC about Simon Jack's ridiculous 500,000 wall of pension money ******** (h/t Ah-so) and I reckon that it could be as few as 10,000 pots and these people would have been able to make the investments before budget anyway.

Being so unimpressed with the BBC, I was even so deranged as to contact The Bank of England who directed me to two documents

Thank you for your email of 9 May concerning estimates of the number of people who potentially could be withdrawing defined contribution pension pots to invest the money in buy-to-let properties. Your email has been passed to me for reply.

The Governor was making a general point about recent changes to annuity rules. To the extent that the impact of these changes takes time to feed through, the Governor’s words were meant to highlight the importance of understanding those changes and their impact. The Bank will consider this as part of its regular analysis of the housing sector as part of its semi-annual Financial Stability Report and its quarterly Inflation Report.

However, you may be interested in existing published work in this area. The Institute for Fiscal Studies (IFS) has published a report which you may find helpful. Please follow the link below to read the report in full:

http://www.ifs.org.uk/uploads/publications/bns/bn147.pdf

In addition, I have included a link below to a paper which considers the question of the distribution of pension wealth.

https://www.nestpensions.org.uk/schemeweb/NestWeb/includes/public/docs/Cox-Private-pension-wealth,PDF.pdf

Even I had to draw the line somewhere, and having ascertained, before I received the reply from the Bank of England, that it was all BS, I didn't read the documents. (Simon Jack's source is beyond comedy - I'm waiting for the BBC Trust to f**k off my appeal in September before I post the details.)

If anyone does read the documents at the link, let me know what they say.

Share this post


Link to post
Share on other sites

NEVER underestimate the stupidity of Boomers... Although to be fair if I'd had everything handed to me on a plate all my life I'd probably also be pretty careless and stupid with my money.

Share this post


Link to post
Share on other sites

NEVER underestimate the stupidity of Boomers... Although to be fair if I'd had everything handed to me on a plate all my life I'd probably also be pretty careless and stupid with my money.

My uncle traded a 09 Mercedes for a 04 bog standard 4x4. Straight swap. We worked out he'd lost at least £3000. The boomers are stupid alright.

Share this post


Link to post
Share on other sites

Don't think my parents are stupid they've always been extremely frugal with money and never racked up debts or credit cards or anything like that.

Share this post


Link to post
Share on other sites

Local EA's certainly think pensioners are heading into BTL. Flyer through the letterbox from my local agent Brown and Key of Poole today states:

'Market conditions continue to be very bouyant...coupled with the expected increase in new buy to let landlords using their pension funds..'

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   102 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.