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bendy

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any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

as much as i like this site i'd say the majority if not all members are awiting to get in and then for the next bubble and bunch of mugs to get rich off.

:unsure:

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Depending on how far things go, yes I'll be buying 2 properties. 1 with cash to let, another with a large deposit to live in. All rent will be used as overpay to the mortgage (main interest+repayment portion coming from wages) and clear it as quickly as possible.

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any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

as much as i like this site i'd say the majority if not all members are awiting to get in and then for the next bubble and bunch of mugs to get rich off.

:unsure:

errrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr.......no

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any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

as much as i like this site i'd say the majority if not all members are awiting to get in and then for the next bubble and bunch of mugs to get rich off.

:unsure:

If the price is right, yes. Does depend on how the economy is shaping up generally though, might be better options by then.

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Guest Steve Cook
any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

as much as i like this site i'd say the majority if not all members are awiting to get in and then for the next bubble and bunch of mugs to get rich off.

:unsure:

I am quite happy to admit that if I thought that there was money to be made in property a couple of years from now, then I would certainly consider buying in on a commercial basis as well as a residential basis.

However, I think this housing crash is going to be apocolyptic in its nature. This is because it is merely a symptom of a much wider and deeper economic malaise.

The world is heading for extremely uncertain times. For me, the best option is to be very light on my feet, financially speaking. In other words, any investment I make with my money will be short term and I will always want to know where the exits are.

If I do invest in a long term asset, the only thing it will be is arable land.

Edited by Steve Cook

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Nope..have lost interest in the whole scene....learned enough from this forum to understand that purchasing property (irrespective of 'price') in the UK is a mugs game.

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any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

as much as i like this site i'd say the majority if not all members are awiting to get in and then for the next bubble and bunch of mugs to get rich off.

My £250k STR fund is sat in the bank right now, the interest alone covering all my monthly outgoings :) I'm therefore saving quite a few £££ every month towards my next foray into property.

In 12-18 months I'll either buy myself a nice detached house in Warwickshire or I'll buy a small house here plus a flat (sorry, executive apartment) back near my family.

The housing market will make my decision for me but I feel in a very happy situation right now ... no plans to BTL at all though :ph34r:

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any str's out there thinking that when we reach the bottom, i'm going to use my str fund to rebuy in and also to snap up a few btl's?

No. When we buy again we'll be buying our family's home with as little debt burden as possible. That said I might consider using some of the pot to purchase a small amount of agri land near to that home as a punt but only if I actually had a real, albeit tentative use for it.

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Just shows really that many people on housepricecrash are as greedy as the nearest BTl'er just a little more savvy about the direction of the market.

Every man for themselves eh?

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Every man for themselves eh?

You're quite right - it's sad that things have reached this point, where we live in an atomised society, driven by relentless self-interest. If the worst we see over the next few years is a late 80s / early 90s style slump, then I will seriously contemplate a BTL property at the bottom of the market. However, pretty conservative commentators are now predicting something very bad in the United States, which could easily be replicated here:

http://www.timesonline.co.uk/tol/comment/c...icle4326794.ece

In this situation, I would just be happy to have shelter, food and clothing. I wish that I was in any way self-sufficient, but the reality is I am in a completely vulnerable position, as most of us are. I suppose this could be dismissed as doom-mongering, but I'd rather keep abreast of all possibilities. After all, a year ago the vast majority of people would have dismissed a proposed decline in house prices as doom-mongering...

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Why would you want the hassle of finding tenants, maintainence/ losing money to a letting agent along with the risk of voids and things when you could get similar returns just by chucking the money into a savings account without any problems?

I have a natural hatred of the "rich property baron" and would rather bugger myself with a rusty breadknife before becoming one of those complete worthless scum who are a pimple on society's ar*ehole.

Chip on my shoulder and it's bloody well staying there! :)

Edited by DementedTuna

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Just shows really that many people on housepricecrash are as greedy as the nearest BTl'er just a little more savvy about the direction of the market.

Every man for themselves eh?

Sorry, but I don't see that any of the posts on this thread vindicate your response.

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Just shows really that many people on housepricecrash are as greedy as the nearest BTl'er just a little more savvy about the direction of the market.

I think you've misunderstood the issue that many on here have with BTL. It isn't generally an issue with ownership of multiple properties.

The problem I have with Borrow To Let is that people have jumped onto an investment bandwagon that they do not fully understand, and often cannot really afford. There is a difference between a highly leveraged investment in property and buying and owning outright.

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Why would you want the hassle of finding tenants, maintainence/ losing money to a letting agent along with the risk of voids and things when you could get similar returns just by chucking the money into a savings account without any problems?

I have a natural hatred of the "rich property baron" and would rather bugger myself with a rusty breadknife before becoming one of those complete worthless scum who are a pimple on society's ar*ehole.

Chip on my shoulder and it's bloody well staying there! :)

Here here. Hopefully BTL will become illegal.

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My £250k STR fund is sat in the bank right now, the interest alone covering all my monthly outgoings :) I'm therefore saving quite a few £££ every month towards my next foray into property.

In 12-18 months I'll either buy myself a nice detached house in Warwickshire or I'll buy a small house here plus a flat (sorry, executive apartment) back near my family.

The housing market will make my decision for me but I feel in a very happy situation right now ... no plans to BTL at all though :ph34r:

I think your 250K STR fund should have a 60% windfall tax applied to it. It was never rightly yours and It might be a way out of this mess.

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Just shows really that many people on housepricecrash are as greedy as the nearest BTl'er just a little more savvy about the direction of the market.

Every man for themselves eh?

i was ready in 03-04 to sit down join the fair housing club where everyone one else was, but they whipped my chair away and demanded i work 3 times as hard as all the other club members.

this made hulk mad.

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Here here. Hopefully BTL will become illegal.

who on earth would that help? If all buy to let became illegal, you'd pretty much have to make all letting illegal. there are a huge number of people who dont want to own, let alone have the ability to do so.. you'd make them homeless?

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Guest pioneer31
I think your 250K STR fund should have a 60% windfall tax applied to it. It was never rightly yours and It might be a way out of this mess.

How do you work that out? :blink:

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who on earth would that help? If all buy to let became illegal, you'd pretty much have to make all letting illegal. there are a huge number of people who dont want to own, let alone have the ability to do so.. you'd make them homeless?

Do you not think that BTL will in the end make them homeless too? The houses they are renting, will be sold either by the LL or the lender. If it was not possible for people to buy several houses, maybe then we would actually see what houses are "worth".

I am not clever enough to propose a different system, but clearly the current one has failed. A lot ( not all), of people have been forced to rent simply because they cannot buy. If house prices fall by 75% from the peak last year, they are still expensive for what they actually are, i.e. bricks and mortar. If and when they do stop falling, then it seems that everyone is going to jump back in. I was talking to a woman at work yesterday, who was telling me that this whole crash thing is very nearly finished now, and that I should buy while I can. Among joe public, that is the common perception. I didn't even bother to explain why I thought she was wrong. Maybe I am wrong and she is right. Hell, maybe I have been wrong all along. Maybe I should have just taken on lots of debt, nice cars, nice holidays etc etc all paid for with this easy credit and then added it to the mortgage until the government bail me out.

As for there being huge numbers of people who don't want to own, maybe if the price was realistic, that would not be the case.

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Yes, I've said here several times that I plan to become a landlord when the business model makes sense on the assumption that house prices will rise in line with inflation longterm.

IE when net yield is enough to compensate for no expected real capital increase.

I see nothing antisocial in landlordism per se, nor in rational speculation.

(May I remind you again that the rational speculator buys low, and sells high. This encourages prices down when they have risen and up when they have fallen, promoting price stability. It also increases liquidity, meaning that any individual would-be-buyer or would-be-seller is more likely to find a seller or buyer in a market active with speculators.)

The housing bubble and its social ills are caused by irrational exuberance - buy high, never sell - the opposite of rational speculation.

Edit: Though I concede that the only way to prevent irrational exuberance may be to discourage all speculation, helpful and harmful.

Edited by Selling up

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Guest X-QUORK

Our STR fund got ploughed into our new business, but if we still had it we'd be looking to buy a house outright and no more than that.

I don't claim to be whiter than white, but to become a BTL after years of slagging them off is taking hypocrisy a bit too far.

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Do you not think that BTL will in the end make them homeless too? The houses they are renting, will be sold either by the LL or the lender. If it was not possible for people to buy several houses, maybe then we would actually see what houses are "worth".

I am not clever enough to propose a different system, but clearly the current one has failed. A lot ( not all), of people have been forced to rent simply because they cannot buy. If house prices fall by 75% from the peak last year, they are still expensive for what they actually are, i.e. bricks and mortar. If and when they do stop falling, then it seems that everyone is going to jump back in. I was talking to a woman at work yesterday, who was telling me that this whole crash thing is very nearly finished now, and that I should buy while I can. Among joe public, that is the common perception. I didn't even bother to explain why I thought she was wrong. Maybe I am wrong and she is right. Hell, maybe I have been wrong all along. Maybe I should have just taken on lots of debt, nice cars, nice holidays etc etc all paid for with this easy credit and then added it to the mortgage until the government bail me out.

As for there being huge numbers of people who don't want to own, maybe if the price was realistic, that would not be the case.

not going to deny that people who want to own are currently pushed out of the market buy btlers, but there does need to be some provision for those who don't want to buy - I went to uni for 3 years, the first year of which was in uni accomodation - i was in no position to buy (£0 savings, 0 interest) at that point - so moved into a shared house with 4 others, and had a great time of it. If all renting was banned, we'd each have had to buy our own houses?? surely pushing up demand..

'nother problem is the cost of building a house. House prices can fall to nigh nothing, but they'll never stay there. If everyone is able to buy, but no-one is building (as sale price<cost price), demand will rise - once this happens prices will rise, and so on until we're in this situation again. while i think houses are currently unsustainably high, the prices oft mentioned on here would be unsustainably low

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'nother problem is the cost of building a house. House prices can fall to nigh nothing, but they'll never stay there. If everyone is able to buy, but no-one is building (as sale price<cost price), demand will rise - once this happens prices will rise, and so on until we're in this situation again. while i think houses are currently unsustainably high, the prices oft mentioned on here would be unsustainably low

I agree with what you are saying about prices. I think we would all agree that they could not just keep rising at the rate they have over the past few years. If they continue to fall as they are now, then eventually I will be able to buy one for about a tenner. But a loaf of bread by then might be a hundred pounds.

Ok, I agree that some people want/need to rent. I forgot about students! Never did that whole student thing, but wish I had now :(

Looks like we are stuck with Boom And Bust then?

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  • 399 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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