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A Surveyor, A Curry, And My Jaw Hitting The Floor

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last night, I was introduced to a frightfully nice chap who is working as a surveyor in commercial property. Young lad, mid/late twenties at a guess.

My conversation was a bit tentative as I now have extensive experience of causing upset by exposing my bearish views over the dinner table, particularly to people who have a VI in seeing HPI continue.

As our mutual friend is actively looking to FTB, it wasn't long before the subject cropped up however - and to my utter amazement - m'laddo was completely HPC "on message" - his own opinion being that in around two years time things will take a precipitous plunge. It is his intention to make as much as he can in the meantime then get out into a different game... I was astounded to hear him talking this way.

Although our opinions on the details of how it will play out were somewhat different, I was nonetheless very pleased to hear him talking this way - and very matter-of-factly I might add, like it was wholly self-evident. I really had to check myself (being used to being treat as worse than a paedophile when expressing HPC views in polite company).

Just thought I would share my little moment of happiness :D

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I have the same general experience of being met with incredulity at social gatherings if I mention that we sold our house last year and now live in a rented place. However, I met a cousin at a family ‘do’ on Saturday - he’s approaching 40, that age when people realise that they don’t have enough pension provision and the age bracket who seem most attracted to BTL.

Now, this guy does not have a finance or property related background. But when the subject of BTL came up, instead of him telling us how he was about to solve all his pension problems by BTL, as so many do, he started saying that the yields just aren’t there and you’ve got a problem if you have too many void periods.

My wife’s jaw hit the ground about the same time as my own. :o

He went on to say that he had read all about it, mainly in the Guardian. He seemed to have picked up some pretty negative vibes, all of which was extremely reassuring, because, even when we see such reports ourselves, the worry is that we are only seeing them because we choose to focus on them (mainly via the Newsblog). The good news is that these reports are starting to get through to the people who matter – those who might otherwise go any buy. :rolleyes:

It had to come and it wont be long until BTL is just terribly passé and nobody will touch it with a barge pole. B)

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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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