renting til I die Posted December 27, 2015 Share Posted December 27, 2015 Unlikely, they probably are aware of your position and didn't want to upset you. No-one even made any mention of housing to me. There there, poor little renters! Until I hear people say what a bad investment buying a house was, how much money was lost on that repo and what a drain that 2nd home is, nothing has changed. Quote Link to comment Share on other sites More sharing options...
Monkey Posted December 27, 2015 Share Posted December 27, 2015 Think i finally got a relative to stop going on about buying to me. I pointed out that for me to buy their modest 3 bed mid terrace, the deposit would need to be 3x my wage, and not the total mortgage. That would then leave a 3 x joint mortgage..... when they did the maths they shut up Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 28, 2015 Share Posted December 28, 2015 Unlikely, they probably are aware of your position and didn't want to upset you. No-one even made any mention of housing to me. There there, poor little renters! Until I hear people say what a bad investment buying a house was, how much money was lost on that repo and what a drain that 2nd home is, nothing has changed. People very rarely if ever go on about bad investments ime Quote Link to comment Share on other sites More sharing options...
juvenal Posted December 28, 2015 Share Posted December 28, 2015 Two mentions of the housing situation from a relative staying with me over Xmas. Separate friends of my relative with kids at home in their late twenties told my relative they've accepted that their kids will never be able to buy houses of their own. Both ruefully expect their kids to be permanent residents of the family home. Quote Link to comment Share on other sites More sharing options...
CunningPlan Posted December 29, 2015 Share Posted December 29, 2015 BIL (The banker) talking about selling up and cashing in his 400k equity (small terrace in Surrey) to rent a small place in Wales and sit it out until retirement. Was a whispered kitchen conversation though since his wife still thinks renting is for losers. Quote Link to comment Share on other sites More sharing options...
bankstersparadise Posted December 29, 2015 Share Posted December 29, 2015 (edited) My only real Xmas housing conversation was last night at one of my best mates house, his Dad telling me how they're downsizing their 185 sqm detached in SL3 (was 40m from flooding a few years back) as it's too big and they won't need to commute to London anymore. I said, looks like a good market to be downsizing in, good luck with the search. Despite what the HPC forum would have you believe not all Boomers are crazy!! Edited December 29, 2015 by bankstersparadise Quote Link to comment Share on other sites More sharing options...
wish I could afford one Posted December 29, 2015 Share Posted December 29, 2015 BIL (The banker) talking about selling up and cashing in his 400k equity (small terrace in Surrey) to rent a small place in Wales and sit it out until retirement. Was a whispered kitchen conversation though since his wife still thinks renting is for losers. Sounds like a smart guy. I'm having similar thoughts except it's a bit wet and I'd maybe buy (or preferably build) a small place in Wales rather than rent. Better to do it now then after the heart attack or breakdown IMHO. Life is after all very very short. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted December 30, 2015 Share Posted December 30, 2015 People very rarely if ever go on about bad investments ime Perhaps this is because surely HPI is to the real economy (and anything else worthy of competing with overseas), as airsoft or paintballing is to real combat. I doubt anyone would want to be seen talking about losing at airsoft or paintballing like it's some serious s***. Housing just one of those things where you can only talk in any serious way when you are winning without looking too much like a lamer who wouldn't have any reply whatsoever to "Russia went down by 20% when Ukraine hit so I put in another few thousand £'s". Quote Link to comment Share on other sites More sharing options...
SillyBilly Posted December 30, 2015 Share Posted December 30, 2015 Usual talk of property investment. Sister's partner wants to buy some land and put 4 houses on it, looking for investors... By the by but I dropped by car off for an MOT and tyre change in Ilkeston, Derbyshire earlier today and spent a couple of hours walking around the town. Good chance to scope an area out. Looking at the estate agents windows in town I couldn't believe the prices. £180-200k for 3 bed semis/detached. The town almost felt and looked like a mid-west town following the end of the Gold Rush. Most industry has gone, I suspect the local average salary is not much more than £20k, if that. Lots of boarded up shops, plenty of discount stores, dozens of empty pubs. I really just got the sense today that things are badly out of kilter and that this huge distortion is going to bring the whole edifice of "prosperity" down. Quote Link to comment Share on other sites More sharing options...
chiefofwales Posted January 3, 2016 Share Posted January 3, 2016 At a NYE party and got speaking to a couple who have bought a flat in Harrow (with the help of a wad of cash from parents..). New build, never saw the floor plan just knew it had two bedrooms. Cost them £275k with a 20% HTB equity loan courtesy of HMG. The one thing that struck me was the comment that in a few years they will buy somewhere else and try to "let it out" Just so wrong. Quote Link to comment Share on other sites More sharing options...
Motor_Blade Posted January 3, 2016 Share Posted January 3, 2016 At a NYE party and got speaking to a couple who have bought a flat in Harrow (with the help of a wad of cash from parents..). New build, never saw the floor plan just knew it had two bedrooms. Cost them £275k with a 20% HTB equity loan courtesy of HMG. The one thing that struck me was the comment that in a few years they will buy somewhere else and try to "let it out" Just so wrong. Mate of mine just bought his first place and says once he has built some equity, a BTL is on the cards.... Madness Never underestimate the capacity for human stupidity.....still, stupid friends do us a service by reminding us how clever we are (or at least are being stupid in more original ways....). Chances are they aren't the only ones thinking along those lines. Quote Link to comment Share on other sites More sharing options...
renting til I die Posted January 3, 2016 Share Posted January 3, 2016 Do these people not understand how tax on rental income is changing or the additional 3% stamp duty when buying a 2nd home? I suppose it doesn't matter if you believe that prices will be up 200% in 10 years time! Quote Link to comment Share on other sites More sharing options...
Inoperational Bumblebee Posted January 4, 2016 Share Posted January 4, 2016 Not quite a 'Christmas' conversation, but I didn't feel comfortable making a specific thread. It happened over the Christmas holiday though! My pregnant wife, who has slowly been softening to the HPC argument after several years of incredulity at my beliefs, suddenly suggested we STR. Totally out of the blue. Quote Link to comment Share on other sites More sharing options...
streamingfreedom Posted January 16, 2016 Share Posted January 16, 2016 Usual talk of property investment. Sister's partner wants to buy some land and put 4 houses on it, looking for investors... By the by but I dropped by car off for an MOT and tyre change in Ilkeston, Derbyshire earlier today and spent a couple of hours walking around the town. Good chance to scope an area out. Looking at the estate agents windows in town I couldn't believe the prices. £180-200k for 3 bed semis/detached. The town almost felt and looked like a mid-west town following the end of the Gold Rush. Most industry has gone, I suspect the local average salary is not much more than £20k, if that. Lots of boarded up shops, plenty of discount stores, dozens of empty pubs. I really just got the sense today that things are badly out of kilter and that this huge distortion is going to bring the whole edifice of "prosperity" down. Hehe what an excellent description of Ilkeston, a truly sad place IMHO. Having spent most of my life in Nottingham up to the last 5 years I have seen the decline there, although it was never great. 200k for a 3 bed there is ridiculous. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted January 16, 2016 Share Posted January 16, 2016 Do these people not understand how tax on rental income is changing or the additional 3% stamp duty when buying a 2nd home? I suppose it doesn't matter if you believe that prices will be up 200% in 10 years time! If they understand, then the certainly don't care. I know several BTL landlords, with 1-2 properties each. Not a single one of them declares the rental income. Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 16, 2016 Share Posted January 16, 2016 If they understand, then the certainly don't care. I know several BTL landlords, with 1-2 properties each. Not a single one of them declares the rental income. Shop them Quote Link to comment Share on other sites More sharing options...
Sawitcoming Posted January 22, 2016 Share Posted January 22, 2016 I won't be talking house prices to wider family this year - (inner family is hpc) - and with changes announced in Budget and Autumn Statement, feeling much more relaxed for the future anyway. At wider Christmas Gatherings I'm now fed up with the nickname D&G. (Doom And Gloom.) Begun by older couple who have traded up to a house with lots of empty bedrooms, when they should have downsized imo. Don't worry. The satisfaction when there is a HPC will be proportionate to the derision now. I try not to discuss it too much. Just quietly listen to the HPI narrative with amusement. Not always easy though especially as you want to help those you care about. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.