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gruffydd

Landlord Sentiment On The Slide - Seething Grannies

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Just went out for lunch and a table of grannies (15 of them) were sitting in the same eatery, enjoying a Christmas meal... the main topic of conversation (for the entire hour) - what a terrible mistake btl had been (most of them seemed to be letting properties... this was a posh eatery!) - shock at the latest changes - more complaints about some compulsory landlord register with (shock, horror) classes for landlords - they were seething... seems like Osborne's budget hit them for six - how I smiled!

Edited by gruffydd

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Just went out for lunch and a table of grannies (15 of them) were sitting in the same eatery, enjoying a Christmas meal... the main topic of conversation (for the entire hour) - what a terrible mistake btl had been (most of them seemed to be letting properties... this was a posh eatery!) - shock at the latest changes - more complaints about some compulsory landlord register with (shock, horror) classes for landlords - they were seething... seems like Osborne's budget hit them for six - how I smiled!

They were probably moaning about Rent Smart Wales, there's a thread on it here: http://www.housepricecrash.co.uk/forum/index.php?/topic/207314-rent-smart-wales-all-landlords-have-to-register/

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They were probably moaning about Rent Smart Wales, there's a thread on it here: http://www.housepricecrash.co.uk/forum/index.php?/topic/207314-rent-smart-wales-all-landlords-have-to-register/

Sentiment has changed, I can feel it in the air. Rent Smart Wales has a lot going for it IMO and if it has upset these landlords you know the legislators got it right.

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Snap. Went for lunch with an ex-colleague who said it was obvious they are gunning for BTL now so not only was she not going to buy another one (which she was considering), she was also going to sell the one she's got. Plus sell the family holiday home in Devon.

I tried not to smile too much.

Edited by RentingForever

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Mwhahaha

I bet the 118 visitors wish they had sold 6 months ago.

Just stubborn I suppose. Too used to getting their own way.

6 months of good market conditions they have wasted. Writings on the wall now.

Will they be able to offload at the price they hoped now?! Doubtful...

Edited by growlers

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noticed on the local buy and sell forums people want to suddenly shift their houses as they have found 'my dream house'

the 3% stamp duty will obliterate deposits for the next house given the leverage required to buy.

the next few weeks will be fun, all those people who have brainwashed ideas that their house is worth more suddenly faced with the reality of actually having to sell it instead of just buying another.

so a big increase in supply to market, and a big decrease in demand from BTL dreamers. Couple this with the 2016/17 recession and we have a nice set-up for an entry point into the market (outside of the south-east, genuinely feel sorry for you guys in the south east)

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Mwhahaha

I bet the 118 visitors wish they had sold 6 months ago.

Just stubborn I suppose. Too used to getting their own way.

6 months of good market conditions they have wasted. Writings on the wall now.

Will they be able to offload at the price they hoped now?! Doubtful...

Its not just the rent offset changes and tsamp duty, its the fact the government is hungry for tax and has discovered a suitable source, like some a shark findign a dead whale in the Ocean - v. Cantonanish.

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Sentiment has changed, I can feel it in the air. Rent Smart Wales has a lot going for it IMO and if it has upset these landlords you know the legislators got it right.

From what I can tell Manchester started a scheme and it doesn't run anymore. From what I read it was toothless.

I don't believe the solution is registering landlords, I believe the answer is in empowering tenants to ask for their rights and for the local council to have the powers to force repairs (which they have) and for courts to stop evicting people for complaining (Which something has been done about?)

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From what I can tell Manchester started a scheme and it doesn't run anymore. From what I read it was toothless.

I don't believe the solution is registering landlords, I believe the answer is in empowering tenants to ask for their rights and for the local council to have the powers to force repairs (which they have) and for courts to stop evicting people for complaining (Which something has been done about?)

Agreed. Just posted similar in NI forum. Tenant autonomy and rights enforced by courts with publicity of enforcement. What I like is that Wales has introduced compulsory landlord classes - so if they stray from their responsibilities they can't fall back on sob stories of ignorance. They know what is expected of them. In NI a good sob story seems to wipe out all manner of pending fines and potential prosecutions.

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Not what I was expecting when I read the thread title. I thought they would be seething grannies on behalf of their grandchildren who can't buy homes and being being gouged by scum landlords.....NOT that they were those landlords and are upset about the changes!

Another thing about political expediency, the number of grannies concerned about how their grandchildren are ever going to get on the property ladder (pyramid) will far outnumber these aged landlords.

A leg up in the form of HTB (in their eyes) and a slap in the face of their landlord competition will do no end of good in terms of support for the tories, many of them lifelong tory supporters beginning to doubt whether forever HPI for them to the cost of their kin was a good idea afterall.

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Ipods stimulate the mind, delaying the onset of dementia. Trainers keep the body fit, delaying the onset of muscle atrophy and death. So even without the irony, you are right.

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If only these grannies spent more money on ipods and the latest trainers, they wouldn't be in this mess.

:lol::lol::lol:

Reap it Granlords.

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Not what I was expecting when I read the thread title. I thought they would be seething grannies on behalf of their grandchildren who can't buy homes and being being gouged by scum landlords.....NOT that they were those landlords and are upset about the changes!

Where are the old people who are angry on behalf of their younger relatives? I certainly don't see them. All I get from the 60+ people at work or in my family is "buy a house buy a house buy a house buy a house". Zero understanding that buying a house actually is harder for 20 and 30somethings now than it was for them.

Older people are supposed to be the living memory of society, the ones who have seen it all before and so can bring some perspective to the current situation. However, when you have a generation of older people who have only seen economic growth and rising living standards throughout their entire adult lives they have no experience worth drawing on when economic times are bad.

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Where are the old people who are angry on behalf of their younger relatives? I certainly don't see them. All I get from the 60+ people at work or in my family is "buy a house buy a house buy a house buy a house". Zero understanding that buying a house actually is harder for 20 and 30somethings now than it was for them.

Older people are supposed to be the living memory of society, the ones who have seen it all before and so can bring some perspective to the current situation. However, when you have a generation of older people who have only seen economic growth and rising living standards throughout their entire adult lives they have no experience worth drawing on when economic times are bad.

There have been shocks in their lifetimes. Recessions. Changes.

Complacency took over, imo, for so many of them (not all), with '97+ extreme long-wave HPI.

Some of the push to 'buy a house buy a house buy a house' (with ever higher prices giving them no concern with their advice) has always struck me as ramping up their own positions. Old owners tend to have the bigger houses, and so gain directly (their house value) by those younger people paying very high prices for more basic houses that don't come close to comparing with their fancier houses. Value gain.

Why are your 60+ work colleagues that concerned with getting you into buying (at these prices). Push push push their own positions imo.

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There have been shocks in their lifetimes. Recessions. Changes.

The current older generation have no previous experience of anything like homeownership among 25-34 year olds falling from 59% to 36% in just 10 years and with no bottom in sight. For them a recession is a couple of tight years, then things go back to normal. They have no frame of reference for this large multi-decade collapse in living standards for an entire generation of working adults so have largely chosen to ignore/deny it.

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You're so right with that Dorkins. Willfully chose to ignore it and too often happily singing about their riches.

It can and will change though. The changes announced by Treasury this year. BTLers in shock because they believed their votes mattered. Next for the hyperinflated equity home-owners.

Too many such HPI owners living in a smug wonderland.

Daily Mail
September 2014


-Comments
Kilo Charlie, My World, 9 hours ago
We purchased a property in 1983 for £72,000.........today it's worth £650,000 plus. It's certainly possible and quite likely.

Sam, Bucks, 3 hours ago
Bought house in ,74 for 16k added extension about £8k now valued at £480k you do the maths?

The idea that older people don't see their homes as investments is a ridiculous self-serving platitude.

If that were true, the age demographics of landlords wouldn't be what they are, the daily mail wouldn't print the house price of every serial killer and murder victim, and house prices probably wouldn't be an issue.

Very few people can afford to ignore the value of their home, whatever their age, it's a key factor in everyone's decisions about housing.

I'll repeat my earlier point, in the hope that reading comprehension wasn't just a passing fad from my youth.

We live in a market economy, of sorts. The selling point of a market economy is that selfish decisions should lead to an optimal allocation of resources.

The distribution of housing is not optimal. Why?

The elderly ought to downsize. Not that they should be forced to, like in a command economy, but that it ought to be the outcome of their selfish decisions, and it isn't. That is a fact that needs explaining.

I claim that this can be explained by looking at the lack of incentives to move. Retired people don't downsize because:

1. They don't pay the costs of their decision, other people do.
2. Homes are investments, and the financial incentives beat the real economic incentives.

In other words, we don't have a free market for housing. An alternative position is that we do have a free market, but free markets don't work for some reason.

'Some older people are poor' isn't an alternative argument.

Nor is individual psychology, the relative mentality of demographic groups (as if such a thing even exists) or how anyone feels about anything.

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