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The Real Cost Of Hpi

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Talking to a fellow teacher this morning - conversation got around to property. She was telling me about a colleague who is 21 who apparently lives in the best part of town and casually dropped into the conversation that she and her hubby owned another couple of properties in Canterbury - which have 'done really well'. She was wondering how on earth someone of 21 on teachers pay can end up with multiple properties - I enlightened her about BTL and unrestricted lending policies of the banks. She then told me about another colleague who at the age of 32 has decided that in spite of her desire to start a family she and her partner have decided not to as they have a 145K mortgage to maintain.

So well done BTL's, well done the banks - this is the true cost of your un-earned income / speculation - you are literally forcing young couples into having to choose between a family or a home ( overpriced shoe box ). I hope you all sleep well at night. I would really like to know how you live with your conscience - do you have one ?

Well done Gordon Brown you have created a nation that has not been this divided since the 18th century with deceitful lying sh*tes / bankers /speculators swanning around in unparrelleled luxury from speculative gain whilst decent hard working honest people give up all hope of having familes or living in a reasonable family home. GB you are a ***********.

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Talking to a fellow teacher this morning - conversation got around to property. She was telling me about a colleague who is 21 who apparently lives in the best part of town and casually dropped into the conversation that she and her hubby owned another couple of properties in Canterbury - which have 'done really well'. She was wondering how on earth someone of 21 on teachers pay can end up with multiple properties - I enlightened her about BTL and unrestricted lending policies of the banks. She then told me about another colleague who at the age of 32 has decided that in spite of her desire to start a family she and her partner have decided not to as they have a 145K mortgage to maintain.

So well done BTL's, well done the banks - this is the true cost of your un-earned income / speculation - you are literally forcing young couples into having to choose between a family or a home ( overpriced shoe box ). I hope you all sleep well at night. I would really like to know how you live with your conscience - do you have one ?

Well done Gordon Brown you have created a nation that has not been this divided since the 18th century with deceitful lying sh*tes / bankers /speculators swanning around in unparrelleled luxury from speculative gain whilst decent hard working honest people give up all hope of having familes or living in a reasonable family home. GB you are a ***********.

they dont call it Rip off Britain for no reason!!! They commented about teh fa cup final tomorro on the news this morning a programme cost 10 quid!!!!! Wot a joke !!!!

Everything is a rip off in this country - fact!

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Talking to a fellow teacher this morning - conversation got around to property. She was telling me about a colleague who is 21 who apparently lives in the best part of town and casually dropped into the conversation that she and her hubby owned another couple of properties in Canterbury - which have 'done really well'. She was wondering how on earth someone of 21 on teachers pay can end up with multiple properties - I enlightened her about BTL and unrestricted lending policies of the banks. She then told me about another colleague who at the age of 32 has decided that in spite of her desire to start a family she and her partner have decided not to as they have a 145K mortgage to maintain.

So well done BTL's, well done the banks - this is the true cost of your un-earned income / speculation - you are literally forcing young couples into having to choose between a family or a home ( overpriced shoe box ). I hope you all sleep well at night. I would really like to know how you live with your conscience - do you have one ?

Well done Gordon Brown you have created a nation that has not been this divided since the 18th century with deceitful lying sh*tes / bankers /speculators swanning around in unparrelleled luxury from speculative gain whilst decent hard working honest people give up all hope of having familes or living in a reasonable family home. GB you are a ***********.

Sorry to disagree with you on this one, but it is not a decision between having kids and having a home. It is a decision between having kids and having a mortgage.

The fact that people will put a mortgage before starting a family says more about the British obsession with property 'ownership' than it does about anything else.

There are plenty of options out there, in many parts of the country speculators are subsidising rents. If you're too obsessed with property ownership to take advantage of this situation then you probably don't posses the right qualities required to bring up a family.

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Guest Yeahbutnocrash

Or you could not have a family and forgo some other luxuries to do BTL (who according to many on this site are providing value for money acommodation)

In this life I think you'll find you pays your money you take your choice and the Gov't are ultimately in control of the housing market

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Sorry to disagree with you on this one, but it is not a decision between having kids and having a home. It is a decision between having kids and having a mortgage.

Actually you can do both if you a) don't get married B) she becomes a single mum on paper c) you sublet her free council flat to help pay the mortgage. Of course this is wrong but it is the way the world is.

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It is wrong and completely irresponsible to put off having children because you don't own your own home.

Yours, Bomber Brown - baby > child > well adjusted adult thats lived in rented property all his life.

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...

So well done BTL's, well done the banks - this is the true cost of your un-earned income / speculation - you are literally forcing young couples into having to choose between a family or a home ( overpriced shoe box ). I hope you all sleep well at night. I would really like to know how you live with your conscience - do you have one ?

...

Dont forget that price is a function of supply and demand.

There seems to be a tendancy on this site to heap blame on evil doers buying property - but if the supply were allowed to increase to meet demand then prices would fall.

I would have thought the above rant far more appropriate toward the idiots that dont allow councils to build homes anymore and the nimbys that object to newbuilds anywhere near 'their patch'.

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Dont forget that price is a function of supply and demand.

I would have thought the above rant far more appropriate toward the idiots that dont allow councils to build homes anymore

Bearing in mind how good councils are at building homes, I think it is a good thing they are not allowed to build more places with a 20 year life span.

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Dont forget that price is a function of supply and demand.

This is true

There seems to be a tendancy on this site to heap blame on evil doers buying property - but if the supply were allowed to increase to meet demand then prices would fall.

Em what about if demand was allowed to fall to meet supply woulnt this be better?

Simply builder more and more etc homes for more and more etc people is not really an answer is it?

I would have thought the above rant far more appropriate toward the idiots that dont allow councils to build homes anymore and the nimbys that object to newbuilds anywhere near 'their patch'.

I dont want newbuilds estates where I live do you actually want it where you live? Why?

Edited by Flat Bear

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I dont want newbuilds estates where I live do you actually want it where you live? Why?

So you want prices to fall, while at the same time restricting supply. Genius <_<

It has occurred to you that restricting BTL would also squash the rental market, thus driving rents through the roof (and the quality of accomodation through the floor) while restricting the mobility of those who need (or want) to rent.

The fact is that BTL provides a valuable social service. Do you really think housing associations (* shudder *) would be able to take up the slack?

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As A FTB Priced out in Canterbury can you please slap your colleague and tell her it is from one of the people she is denying property.

Cheers

Well, obviously you're just entitled to those properties <_<

The person in question seems to have been able to find a home and build up a portfolio by the age of 21. What's your excuse?

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So you want prices to fall, while at the same time restricting supply. Genius <_<

It has occurred to you that restricting BTL would also squash the rental market, thus driving rents through the roof (and the quality of accomodation through the floor) while restricting the mobility of those who need (or want) to rent.

The fact is that BTL provides a valuable social service. Do you really think housing associations (* shudder *) would be able to take up the slack?

Yes you are right of course I am sure all those BTLs out there were inspired by the sight of the poor homeless people on the streets and decided to plough their own savings into providing accomodation for those too poor to buy a home for themselves ! There was me thinking that BTL's were just parasitical scumbags out to make a quick buck for doing s*d all, but no, now you've opened my eyes I shall view them all in a different light.

P.S How did the UK manage before BTL ? oh yes thats right houses were actually affordable back then weren't they because people, for a brief while, saw them as places to live rather than investment vehicles.

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Yes you are right of course I am sure all those BTLs out there were inspired by the sight of the poor homeless people on the streets and decided to plough their own savings into providing accomodation for those too poor to buy a home for themselves ! There was me thinking that BTL's were just parasitical scumbags out to make a quick buck for doing s*d all, but no, now you've opened my eyes I shall view them all in a different light.

P.S How did the UK manage before BTL ? oh yes thats right houses were actually affordable back then weren't they because people, for a brief while, saw them as places to live rather than investment vehicles.

I see you've been a member of this site since '04, Bearfacts. Is there a reason why you have held off buying a property for three years? Were you, perhaps, holding out for a crash and the opportunity to buy a cheap home from a distressed family?

Or are you above that sort of thing? <_<

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I see you've been a member of this site since '04, Bearfacts. Is there a reason why you have held off buying a property for three years? Were you, perhaps, holding out for a crash and the opportunity to buy a cheap home from a distressed family?

Or are you above that sort of thing? <_<

FACT - I am better off for staying renting these last 3 years. Prices of properties I would be interested in are about the same and my rental costs have been much lower than the implicit costs of ownership, cost of capital etc. I have held off buying, at the very least, because it has been far far cheaper. It is now very satisfying to see the levels of pain that quite small interest rate rises are inflicting against the people who have been trying to persuade me to buy these last 3 years.

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Guest d23
FACT - I am better off for staying renting these last 3 years. Prices of properties I would be interested in are about the same and my rental costs have been much lower than the implicit costs of ownership, cost of capital etc. I have held off buying, at the very least, because it has been far far cheaper. It is now very satisfying to see the levels of pain that quite small interest rate rises are inflicting against the people who have been trying to persuade me to buy these last 3 years.

prices stagnating for 3 years? Surely not, all these people on this site have told me thats impossible?

whereabouts are you?

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FACT - I am better off for staying renting these last 3 years. Prices of properties I would be interested in are about the same and my rental costs have been much lower than the implicit costs of ownership, cost of capital etc. I have held off buying, at the very least, because it has been far far cheaper. It is now very satisfying to see the levels of pain that quite small interest rate rises are inflicting against the people who have been trying to persuade me to buy these last 3 years.

Another ghost from the ranks of the old bears <_<

If HPI in your area has been static since 2004 (which sounds a little far fetched, but you know your market better than I do) then rent away; I'm pleased it has worked out.

I suspect those in other areas who delayed buying will have watched prices rise and the spending power of deposits diminish.

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Well, obviously you're just entitled to those properties <_<

The person in question seems to have been able to find a home and build up a portfolio by the age of 21. What's your excuse?

I wouldn't be suprised if she has had handouts from mummy and daddy because as the op said she can't have done it on a teachers salary u smug twit.

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I see you've been a member of this site since '04, Bearfacts. Is there a reason why you have held off buying a property for three years? Were you, perhaps, holding out for a crash and the opportunity to buy a cheap home from a distressed family?

Or are you above that sort of thing? <_<

I sold in 2004 due to a change of family circumstances and decided not to buy again because I could see that the market was completely out of step with fundamentals and decided to wait and see. I have moved since then for a number of reasons ( much easier and cheaper if you are renting) and have held off buying for the very same reason that I originally didn't buy. Am I looking to buy a cheap home from a distressed family ? I am looking to buy a home for a realistic price i.e about 50% of the current level. I also have young children who I hope one day will be able to buy their own homes for a realistic price instead of having to sell their souls for a part share in a bedsit just to fund the celebrity fantasies of imprudent crusties and feckless irresponsible wannabes.

Buying a home should not be the enormous gamble that it is. Why should one generation pay 4-5 times the amount that the previous generation paid for the same thing ? It suits the bankers and the speculators thats why.

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I sold in 2004 due to a change of family circumstances and decided not to buy again because I could see that the market was completely out of step with fundamentals and decided to wait and see. I have moved since then for a number of reasons ( much easier and cheaper if you are renting) and have held off buying for the very same reason that I originally didn't buy. Am I looking to buy a cheap home from a distressed family ? I am looking to buy a home for a realistic price i.e about 50% of the current level. I also have young children who I hope one day will be able to buy their own homes for a realistic price instead of having to sell their souls for a part share in a bedsit just to fund the celebrity fantasies of imprudent crusties and feckless irresponsible wannabes.

Buying a home should not be the enormous gamble that it is. Why should one generation pay 4-5 times the amount that the previous generation paid for the same thing ? It suits the bankers and the speculators thats why.

Thank you for the frank reply

I agree; it isn't fair that our generation should pay such high prices. We really have been dealt a very bad hand. I also understand that staying out of the market is often a decision based on factors other than finance (as apparently in your case).

But aren't you attacking the wrong target?

Aren't BTLers trying to do the best for themselves and their family (just as those holding off from buying are trying to?) Can you honestly say that - knowing what you know now - you wouldn't have entered BTL in 2001 or 2002? Possibly even 2004?

Just a thought

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As A FTB Priced out in Canterbury can you please slap your colleague and tell her it is from one of the people she is denying property.

Cheers

BTL usually buy 2 bed rabbit hutches rather than decent homes - so not convinced re denying you of property

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BTL usually buy 2 bed rabbit hutches rather than decent homes - so not convinced re denying you of property

A 'bull' with an ostrich as a logo is not serious and cannot be taken seriously.

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Guest AuntJess

Reading this thread - and many others here, I conclude that this government - greedy and self-seeking - has sought to bring out these features in the GBP.

Carrots dangled in front of noses, promises of affluence and riches, when anyone with half an eye can see that this property debacle is nothing but a giant pyramid selling scam....WHO will rent from these BTLs to provide this golden future pension and WHERE will their pensions come from? Who gives a sh*t, eh? as long as those pennies keep on rolling in. ;)

Yep, guess the punters/'marks' have never been taken into consideration. Things don't change. During WW2, black marketeers made vast fortunes out of making folks pay dearly - or do without - the little luxuries... like more than one egg per week or a pot of jam.

I guess their excuse is that they were only providing for their own, too. :rolleyes:

Edited by AuntJess

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Talking to a fellow teacher this morning - conversation got around to property. She was telling me about a colleague who is 21 who apparently lives in the best part of town and casually dropped into the conversation that she and her hubby owned another couple of properties in Canterbury - which have 'done really well'. She was wondering how on earth someone of 21 on teachers pay can end up with multiple properties

More to the point how exactly does somebody aged only 21 achieve QTS and already have a teaching job... Last time I checked it takes 3/4 years after leaving school to complete a degree and receive qualified teacher status. A 21 year ago who did a 3 three year bED would be graduating from university round about now and looking at starting their first proper permanent qualified teaching job after the summer half term. IIRC the vast majority of teacher training is done via 4 year courses which would naturally still see her as student or unqualified teacher on day release.

A 21 year old who turns 22 this year would have had less than 12 months post graduation a buy her+husbands home and build a portfolio, unless her hubby is older than her and he actually built the portfolio or she built the portfolio whilst still a student.

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Sorry to disagree with you on this one, but it is not a decision between having kids and having a home. It is a decision between having kids and having a mortgage.

Good point. My sister and boyfriend have a massive mortgage, about £180K and it is knocking their ability to have kids and they can't afford to get married.

Myself and girlfriend on the other hand, getting married and will have kids shortly after. We don't have the massive mortgage hanging around our necks and wouldn't chain ourselves to one as it would effect the ability to get on with life.

It's a form of financial survival of the fittest, it's a good thing as in the future only those renting now will have kids and so future generations will grow up believing it is better to rent than pay overpriced house prices

Edited by munimula

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