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A landlords views


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My grandfather passed away earlier this year and my mum inherited his house. I’ve been living in it for the last few months. Last week my sister landlord asked her if she knew of anyone looking to sell so my sister mentions this to my mum with a view to him buying my grandfathers house. He popped over yesterday to have a look around. While here he openly suggested (in fact stated as fact) that next year prices will plummet. In fact he thinks we’re going to see chaos, so he’s selling up any investments he has to buy property. His thinking is while property will be hit, he can see mortgages harder to get so renting will become more common. He’d also rather own a house than shares in a business because houses can’t disappear but businesses can go bust and become worth nothing. Said that estate agents are all thinking similar and have told him that the brakes have suddenly, from nowhere been hit. Post covid things went mad, they didn’t have enough properties to sell, now suddenly everyone is pulling out.

He said he’s not worried about drops initially, he’s been doing it 35 years and lived through many crashes and he knows it’ll come good eventually.

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My grandfather passed away earlier this year and my mum inherited his house. I’ve been living in it for the last few months. Last week my sister landlord asked her if she knew of anyone looking to sell so my sister mentions this to my mum with a view to him buying my grandfathers house. He popped over yesterday to have a look around. While here he openly suggested (in fact stated as fact) that next year prices will plummet. In fact he thinks we’re going to see chaos, so he’s selling up any investments he has to buy property. His thinking is while property will be hit, he can see mortgages harder to get so renting will become more common. He’d also rather own a house than shares in a business because houses can’t disappear but businesses can go bust and become worth nothing. Said that estate agents are all thinking similar and have told him that the brakes have suddenly, from nowhere been hit. Post covid things went mad, they didn’t have enough properties to sell, now suddenly everyone is pulling out.

He said he’s not worried about drops initially, he’s been doing it 35 years and lived through many crashes and he knows it’ll come good eventually.

 Wouldn't anyone who is pretty certain of a big crash with future mortagage difficulties just around the corner, and liquid assets in place just wait to hoover up all the cash sale repros next year instead?

  A successful landlord would normally be a pretty shrewd buyer too? 

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 Wouldn't anyone who is pretty certain of a big crash with future mortagage difficulties just around the corner, and liquid assets in place just wait to hoover up all the cash sale repros next year instead?

  A successful landlord would normally be a pretty shrewd buyer too? 

To be fair, the offer he made suggests he was pricing in a large drop. My mother is hugely offended while I’m trying to convince her to take his cash and run now - even if it means the hassle of me moving again!

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To be fair, the offer he made suggests he was pricing in a large drop. My mother is hugely offended while I’m trying to convince her to take his cash and run now - even if it means the hassle of me moving again!

I would advise you to stay out of your mothers financial affairs in this respect, particularly if your are of the HPC mindset of always believing a crash is around the corner.

If she takes a lowball offer now on your advice and the crash doesn't appear, just as it has failed to appear every year people have predicted it, then she may end up offended by your advice rather than the lowball offer.

Just a thought.

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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