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Noallegiance

Rents to Rise

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Of course, landlords are the only ones who are affected by economic uncertainty, and so they can just put rents up safe in the knowledge that everybody can afford to pay whatever price they decide to set.

Which is a good thing for them, because economically, the leveraged ones would be ******ed otherwise.

Edited by Fully Detached

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So rents are rising whilst debt interest is falling......rents have to be paid today, but debt paid some day in the future if not erroded away via inflation or defaulted on after milked of all the capital that can be made from it and income no longer pays...... something doesn't quite add up.... ;)

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Not a case of won't pay......it will be can't pay......sitting around for months waiting for someone who can pay until they can no longer pay or won't pay......might get the rent asked for but not for 12 months of the year.....that is not an increase. ;)

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8 minutes ago, hotairmail said:

 

 

LOL. Absolute tosh. It is a wish expressed as a forecast and a hope that landlords hold the line.

FT seems to be on the wrong side of the argument on everything these days. It is becoming hated even, under Lionel Barber's editorship. FT always prioritises advertisers and business interests above its readers and retail investors.

Fail. Desperate.

I am afraid it can't influence me because I can't read it. ;)

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I see that the FT is faithful to what Savill's was trying to say - this is a section 24/ stamp duty consequence. For some reason the BBC has steered well clear of reproducing these arguments. 

And fair enough - this is nothing more than lobbying under the auspices of pseudo expert research. 

It is s great advert for BTL - not only will the asset price surge but do will rents. Fill your boots ! 

 

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So I would end up paying 820 pounds month to live in a suburb of london that isnt particularly nice. 

A decent flat in a semi ok area would go from 1400 to 1750 per month!

What rubbish. 

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36 minutes ago, winkie said:

I am afraid it can't influence me because I can't read it. ;)

That's good. Obviously like me, you deplore people who get round the firewall by pasting the headline into Google and clicking on the search result. 

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"The reason was "post-referendum economic uncertainty" and weaker consumer sentiment"

 

that will push up rents????

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So the estate agents Savills are saying that house sales with flat-line, but rents will rise so...

...hey, wannabe landlords, what a great time to buy so estate agents can do more business.

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Crap.

London rents, like everywhere else, are set by the LHA.

Lower LHA and rents fall.

Its that basic rule that you have to question whether LSL are fcking idiots or lying. Id guess the former.

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A bit disingenuous on the mathematics/logic of it all. Puff piece.

But forecasting a 20% increase in housing? Now? Is the Beeb losing the plot? Surely there should be disclaimer that this is rhetorical and in fact not news at all?

Wages forecast to increase in the region of 7% in the same time.

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1 hour ago, Ah-so said:

...Savill's was trying to say - this is a section 24/ stamp duty consequence. For some reason the BBC has steered well clear of reproducing these arguments. 

Wonder what that might be?

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Meanwhile, back in the real world.

 

Quote

London rents fell by -0.11% in October, with major falls occurring in Westminster (-1.86%), Kensington and Chelsea (-1.81%), Richmond upon Thames (-0.99%) and Camden (-0.93%).

http://www.mortgageintroducer.com/london-rents-fall-0-11-october/#.WBs-Uo_XK1g

 

 

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1 hour ago, rantnrave said:

Wonder what that might be?

Like you, I find this rather puzzling. 

It's almost like they deliberately avoided repeating BTL propaganda, whereas once they would have faithfully reported this as fact. 

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My rent hasn't gone up a penny in 3 years and it wont be going up for at least the next 3. The landlord tried to raise it by "only 10%"  on the recommendation of the agent last year. Apparently he was being generous as 20% raise was the actual suggestion. Told him to ****** off and had a new house lined up at 20% less the next day. He got around to calling me back a few days later to let me know he'd decided to allow me to stay for the current rate. I had the great pleasure of explaining to him I'd found somewhere else for less already so would just let the contract expire at the end of the month and move. Pretty sure he crapped himself there and then as I'd be out before needing to move on to a rolling lease and so didn't need to give any notice at all. He was suddenly faced with not getting any rental payment the next month.

Unfortunately the other house fell through due to dodgy agents so I ended up staying where I am without any rent change. Pretty sure he's not going to try and raise the rent again any time soon but I'll be moving somewhere cheaper in the new year. Rents in me area have gone down, not up. I strongly suggest to anyone who gets a rent raise to tell them to stick it and move somewhere smaller if necessary. People have got to start fighting back.

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11 hours ago, Simon Taylor said:

This tosh has even been reported as fact in the FT..

https://www.ft.com/content/679d6088-a1b5-11e6-82c3-4351ce86813f

It's getting a fair old thrashing in the comments....

 

It gets a well-deserved thrashing from Shaun Richards here.

Particularly liked this line; "There is a lot at play here. Sadly one of them is the increasing way that the media reproduce what are in effect not far off press releases and call it journalism".

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7 hours ago, Ah-so said:

Like you, I find this rather puzzling. 

It's almost like they deliberately avoided repeating BTL propaganda, whereas once they would have faithfully reported this as fact. 

Odd isn't it.

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17 hours ago, Noallegiance said:

PropertyLaterz will be happy:

http://www.bbc.co.uk/news/business-37864258

Given it a good thinking about and I am calling it.

I think that it is a false prophecy because a number of the key measures have already changed, but nevertheless, even if I am wrong, and it is the point and purpose of an hpc poster to be wrong about this, at least I can defend myself with the fact that the line of argument is intended to be amusing even if in the fullness of time it is shown to be empirically incorrect.

Now the meat/joke.

When the c*nts doing the marketing are talking about how the rents are about to go up then they've given up on the prices because the prices are about  to consider the merits of having a metaphorical wind beneath their wings but no actual wings or sub-wings winds.

For any MK Don style landlords still mainlining leverage there is this...

(It's a song about someone who deals with alienation by taking smack and ends up dead.)

 

Edited by Bland Unsight

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