Monday, February 25, 2008

This weeks comedy article from Ztuart Law

Buy to let looking bright for 2008

Buy-to-let investment in the UK is set to go from strength to strength in 2008, it has been suggested. Rental demand is increasing all the time, according to Mr Harrison of ARLA, who said the reasons behind this trend are "demographic". These factors include things such as increasing migration and rising divorce rates. "Traditionally, every time you have house price softening you get increased rental demand," Mr Harrison said. Last year saw the typical buy-to-let property rise by 10.9% to reach an average of £154,795, and Mr Harrison believes that this price will edge upwards.

Posted by little professor @ 05:49 PM (1350 views)
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19 thoughts on “This weeks comedy article from Ztuart Law

  • Where do these peopel come from? If i was giving invetment advice like this I would be reported to the FSA

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  • “…the typical buy-to-let property rise by 10.9% to reach an average of £154,795 to…”

    I thought house prices only went up by 5% last year (Halifax, Nationwide, Rightmove) where did the rest come from…?

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  • This guy and his comments are better suited to Viz magazine – comedy at its best

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  • If rental demand is so strong then I assme assetz will pay the rent for me if the property is empty at any time in the next 5 years ….. surely more and more imigrants will be queuing to come to england has the pound continues to devalue, the number of jobs being created decreases and, of course, rents reach new levels thereby decreasing even more the amounts of money you can send home.

    So sure, invest invest invest but make sure assetz is sharing in some of the risk you are taking …

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  • ya I believe him.. I think we should all buy a house.. lol…

    I did have a warming thought the other day.. everyone who reads this site has the intelligence to realize how screwed things are so on that basis we’ll all be alright eventually…. I just used some of my house deposit to buy a new car for work.. I could have taken a 8.9% HSBC car loan.. and get a whopping 5.25% b4 tax on my savings.. right.. so that will be 3.15% after tax then.. ya.. the Bank man felt a bit silly when I pointed this out to him.. ya I bought a new car with no credit.. screw them guys.. I also asked him how much I could borrow for my £375 a month rent .. he about said 60K.. (when buildings insurance and out of work insurance is wagered in).. I said I’ll rent for a while then.. he said ya.. your probably best there.. lol……

    silly people everywhere…

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  • Sorry mate, my rent has just been kept the same for another 12 months. What are the chances of that?

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  • Having looked at the low-rent quality of ARLA’s website I can only conclude that their advice is of the same quality.

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  • “Malcolm Harrison from the Association of Residential Letting Agents (Arla) has claimed that this year could be yet another healthy one in terms of returns for landlords.”

    So we are getting our new from an independent and unbiased source.

    —-

    “Last year also saw the typical buy-to-let property price rise by 10.9 per cent to reach an average price tag of £154,795 …”

    10.9% ? Hmm. If you say so Mr Harrison but I have my doubts.

    —-

    “… And Mr Harrison believes that this price will edge upwards.”

    Lay off the weed. You’re doing too much.

    —-

    ‘Buy-to-let has often been blamed for the fact that first-time buyers are struggling to get a foothold on the property ladder, but Mr Harrison does not share this view, describing the standpoint as “a load of rubbish”.’

    So tax breaks for the BTLer don’t matter and have had no part in pushing up prices, presumably.

    —-

    “Research by the [National Housing and Planning Advice] unit shows higher incomes, household growth, low and stable interest rates and limited supply were all factors that had a far more significant impact on house price inflation.”

    Oh. So the price rises had nothing to do with liar loans and lax lending by the banks.
    Oh by the way, the headings on this National Housing and Planning Advice Unit report
    http://www.communities.gov.uk/nhpau/newsroom/buytoletrelease/
    start with “Buy-to-let lending increases house prices by up to 7 per cent” and “But growth in private rented sector keeps downward pressure on rents”

    —-

    “there is “greater willingness” among lenders to pass on interest rate cuts to people who already own homes.”

    I’ve told you already about the dope.

    —-

    To be fair to Mr Law, the idea that more people being priced out will result in more renting doesn’t sound so unreasonable but with a recession/depression looming over us, I cannot help wondering where all the money to pay the BTLer costs will come from. If I can’t afford my own mortgage, does it follow that I can afford the BTLer’s mortgage? Not unless they bought a while ago when property was cheaper I’d say.

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  • Oh dear, these people sound increasingly desperate; after a decade of easy money they have completely lost the plot.

    They should face the brutal facts – property prices are sliding fast and they need to be a damn sight more intelligent in their response than to pretend that BTL is anything other than completely dead for the forseeable future.

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  • All goes to show that even really stupid people can make money from – well, nothing. Maybe we shall see them on one of those future TV programmes about riches to rags: “How I was caught out by the unexpected crash in BTL”. Laugh? Maybe.

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  • @quietguy It’s not lay of the weed, it’s lay off the greed.

    I say the property section of the local paper today (Oxfordshire) -Over half the properties on offer had no chain. I can only assume these are all BTL properties, and probably is unprecedented. As others have said, denial is still there, even in the face of all evidence. Give it til April before realisation dawns.Also saw in the same paper home owners offering the pay the stamp duty! I’m seeing 3 bed terraces for £125, 6 months ago they would have been £160K. No need to rush, as the situation is going to deteriorate rapidly.

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  • BTL sounds bright! About as bright as the eyes of a dead bassett hound IMHO.

    Sadly for Assetz et al, you can fool some of the people some of the time but not all of the people all of the time.
    It’s going to take a lot more than Assetz spin to convince the public, sentiment has done an about face.

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  • I’d put money on most of these jokers being no more by the end of the year, possibly with a few lawsuits and investigations in their wake.

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  • The buffet principle applies to everything assetz (lolz net spk lozerz) say at the moment. Hopefully one day they may be worth following as at the moment seem to be lost in the current market conditions (or is that conditionz?) drunk on one guess of the 2007 property market.

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  • Same [email protected] different day… come you guys everything is being done in this country to ensure stability in the housing market, which will simply not crash by a long shot maybe a dip by say 5-10% for a few months but im doubtfull this will even occur. There is too much supporting prices in ways you people are unable to grasp…. dont get caught out again. Property IS one of the safest investments around, i would advise Property and a bit of diversification in Gold. IMHO

    Regards
    NStiles

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  • @NStiles

    This time it’s gonna be different eh? Sure property is a good long-term investment if you avoid buying near the top. My rent has been static for nearly two years and I’m seeing *asking* prices being shaved down in my area; I suspect I could get 10% off now just by putting in a cheeky offer. No need to buy now – I’ll just sit back and watch the show 😀

    Keep trolling.

    Regards,

    Quiet Guy

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  • new user 2007 says:

    I cannot be bothered to argue about something written on Mr ASSetz’ own site.

    That reminds me….does anyone watch those religious shows usually on morning cable? The ones where some alledgely religious guy who tries to kid everyone that what he is telling the truth?

    The punch line is always money is evil and it keeps you away from god, yet he wants you to give it to him.

    No idea why that kind of individual suddenly came to mind.

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  • new user 2007 says:

    Nstiles. Gold is going up because of rising inflation. Rising inflation would mean higher interest rates and so a fall in houses. That would be called hedging your bets BUT as you are clearly not clever enough to have thought that process through, I suspect you just had two completely contradictory fianancial investments on the go because of your complete lack of economics.

    Luckily for you all it takes is a lot of ignorance to build a pyramid scheme and the people who do silly things like look at actual numbers get left out. This is all sentiment driven and that can change, as is being witnessed in the US, was witnessed in Japan (any number or “pillar” you could possibly use to justify our prices, Japan had even “better” numbers, yet its housing market fell for 15 years from 1990),

    Please give us the benefit of your vast intellect to explain that one.

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  • new user 2007 says:

    p.s. Nstiles.

    One thing that brought a smile to my face was “everything was being done”. Yes, the Fed is doing a great job in the US…and in an election year. I wish I had your confidence that we will be doing as much and with just as much impact:)

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