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Realistbear

B T L Not Recommended For The Blairs And Unlucky People

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http://property.scotsman.com/news.cfm?id=315932006

The revelation that Tony and Cherie Blair are facing renewed problems with their housing investment in Central London is a wake-up call to anyone thinking of entering the buy-to-let market. According to newspaper reports last week, the Blair-owned house, in Connaught Square, is financially haemorrhaging again after their first tenant, the West Lothian-born film-maker, Michael Caton-Jones, moved out. Caton-Jones was says to be paying around £8,000 per month in rent, although even that was well short of the £14,000 a month the Blairs are paying to service their mortgage.
"Some people and property investment just don't mix," says Alexander. "I have known quite a few people who have either lost money or received poor returns simply because they have been unlucky. Perhaps the Prime Minister and his wife may wish to consider if property is really the right investment for them."

Now, wouldn't it be far better for us all if we put a lucky Scot* in number 10?

*David "Scotty" Cameron.

Edited by Realistbear

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Tony is a far shrewder politician than the dour Scot that hopes to take his place. Tony can now demonstrate that he too is a victim of Brown's miracle economy and can stand shoulder to shoulder with the people who suffer a similar fate from HPI.

4th Term anybody?

Edited by Realistbear

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http://property.scotsman.com/news.cfm?id=315932006

"Some people and property investment just don't mix," says Alexander. "I have known quite a few people who have either lost money or received poor returns simply because they have been unlucky. Perhaps the Prime Minister and his wife may wish to consider if property is really the right investment for them."

What has luck to do with this?

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So BTLers are buying property with negative cashflows because they're getting capital gains. The longer this goes on, the bigger the crash will be!

This country is full of suckers.

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What has luck to do with this?

Nothing whatsoever. Tony lost because the perceived value of his house dropped. Luck enters into it if you are able to find a mug to take a sinking asset off your hands. :lol:

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What has luck to do with this?

Quite, people are making poor returns because they didn't find out how much they could actually rent the property for before they bought it. It's a lack of judgement (not a first for Tony Bliar), not a lack of luck.

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  • 301 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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