Jump to content
House Price Crash Forum

Christmas Conversations... Htb... Btl...


Guest

Recommended Posts

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.

Link to post
Share on other sites

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

Link to post
Share on other sites

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

Link to post
Share on other sites

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.

Link to post
Share on other sites

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 by bankstersparadise
Link to post
Share on other sites

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.

Link to post
Share on other sites

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".

Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites
  • 2 weeks later...

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

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.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

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.