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Bunfight

A Small Anecdote

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First time poster and have read this site for many years. A brilliant island of sanity...

A small anecdote...

I deal with a large landlord in the South East / London who has just shy of 100 houses. I spoke to him a couple of weeks ago and he's selling up and totally unprompted cited legislation / new tax regime as the cause. He's been a landlord since the 90's.

I know of 3 other landlords, 2 'accidental' and 1 'semi pro' - all in the North. The accidental landlords are covering the mortgage shortfall from their own wages - I know this as they've told me. The pro lives like a miser - I summise this is again due to post tax income subsidising mortgage debt. I'm fairly confident none of them know of the tax changes.

I personally can't wait for this bubble to pop for the sake of my kid and everyone else's kids too. This whole debt ponzi nightmare has / is destroying the country.

Thought I'd share!

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First time poster and have read this site for many years. A brilliant island of sanity...

A small anecdote...

I deal with a large landlord in the South East / London who has just shy of 100 houses. I spoke to him a couple of weeks ago and he's selling up and totally unprompted cited legislation / new tax regime as the cause. He's been a landlord since the 90's.

I know of 3 other landlords, 2 'accidental' and 1 'semi pro' - all in the North. The accidental landlords are covering the mortgage shortfall from their own wages - I know this as they've told me. The pro lives like a miser - I summise this is again due to post tax income subsidising mortgage debt. I'm fairly confident none of them know of the tax changes.

I personally can't wait for this bubble to pop for the sake of my kid and everyone else's kids too. This whole debt ponzi nightmare has / is destroying the country.

Thought I'd share!

If this happens on a widescale, thanks George for the tax changes

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