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spyguy

Section 24 could cause the next pension crisis

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21 minutes ago, spyguy said:

Eh?

Its me pensiion innit.

https://www.property118.com/section-24-cause-next-pension-crisis/

I dont see why it should if you own the house you are letting out. Or at least have a repayment mortgage on it.

Whats thats? Loads of leveraged up IO loons. Ah nothing could save those stupid, greedy  tw@ts.

break out the worlds smallest fiddles!

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35 minutes ago, Freki said:

But how will the entitled generation go on cruises twice a year?

They will be fine/ because the Shafted Generation can come along too.

As rowers, down in the galleys.

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Yep I thought it was something to do with losing State entitlement, but apparently it's to do with BTL investments topping up that pension. Clearly, landlords are more equal than the rest of the population and it's a crisis if they can't go on cruises.

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Quote
Dr-Rosalind-Beck.gif

Dr Rosalind Beck

22 hours ago

But will the Government care if many landlord pensioners are living in poverty? (well done on the new site BTW, Neil!)

Should they care more about landlord pensioners, Ros?

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14 minutes ago, Parkwell said:

I don't see any pension crisis here. When these people's business investments fail they can happily draw the state pension. No problem.

 

Assuming they've paid into it. Although, even if they haven't, they'll probably receive benefits worth more than the state pension :(.

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Unless people look after their health, and lifestyle they will find trouble spending much at all except forking out for people to care for them.....mind is willing body weak.....the job took the best of life, energy and strength....nothing much left to show for it....puff and it's gone.;)

 

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The "property as my pension" idea should never have been allowed to become established. All that money going into non-productive assets, and increasing the cost of shelter. Imagine what could have been if it was invested into business development, research, technology..

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5 minutes ago, Clarky Cat said:

The "property as my pension" idea should never have been allowed to become established. All that money going into non-productive assets, and increasing the cost of shelter. Imagine what could have been if it was invested into business development, research, technology..

Barely any moeny went in.

Io mortgafe, rent comes in, mortgage payments go out.

Nuts. Banks should have not made io btl loans.

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On average there are 7 private tenant households for every 1 landlord household, and at least landlords generally own their own home. How are those private tenant households supposed to keep paying private rents when they start retiring in 3 decades' time? Out of their dismal defined contribution pensions? Could the government afford to pay housing benefit to 10 million Generation Y pensioners?

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On 21 July 2017 at 5:14 PM, spyguy said:

Eh?

Its me pensiion innit.

https://www.property118.com/section-24-cause-next-pension-crisis/

I dont see why it should if you own the house you are letting out. Or at least have a repayment mortgage on it.

Whats thats? Loads of leveraged up IO loons. Ah nothing could save those stupid, greedy  tw@ts.

Good spot. 

"77% are reliant on residential property investment."

These guys aren't reliant on "residential property investment" they are reliant on debt. And thereon lies their problem. Who relies on debt in their retirement....? 

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10 hours ago, Dorkins said:

On average there are 7 private tenant households for every 1 landlord household, and at least landlords generally own their own home. How are those private tenant households supposed to keep paying private rents when they start retiring in 3 decades' time? Out of their dismal defined contribution pensions? Could the government afford to pay housing benefit to 10 million Generation Y pensioners?

Because of this, S24 could avert Britain's pension crisis. If people are able to get out of the rented sector and into owner-occupation, the costs of paying their rent for their entire retirement will be removed. 

This cost will be be enormous and will represent a massive transfer of wealth from the tax payer to wealthy landlords 

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2 hours ago, Phil321 said:

Good spot. 

"77% are reliant on residential property investment."

These guys aren't reliant on "residential property investment" they are reliant on debt. And thereon lies their problem. Who relies on debt in their retirement....? 

Even worse than that.

Theyre relying on non amorising debt i.e. continuation of a lunacy that no regulated bankshould be doing, at least nt without charging 10+% irs.

And the continued oversight of being able to offset irs against rent. S24 ends this.

And a bouyant, ever increasing rental sector. Stopping lha, brexit/euers going back etc is seeing this end. Ive seen houses that have been let for years suddenly start showing longer and longer voids.

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