Saturday, March 8, 2008

A load of trash

Buy-to-let market heads right back to its foundations

I see more oversupply coming, which is great news for us all!!

Posted by confused76 @ 07:51 PM (1349 views)
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7 thoughts on “A load of trash

  • Reading the article there don’t appear to be any plans to build houses that people might want to own, live in and bring up families. Note the phrase ‘can’t afford to buy or choose the flexibility of renting’. Long term families want nice looking houses with sensible sized gardens to own and live in. Am I missing something, the whole reason someone can’t afford to buy is because they’ve been priced out by Buy to Let Investors or Second Home Owners. So instead of building houses that aren’t available for investment purposes they build a load more houses for investment purposes. Has anyone looked at the recent performance of property funds invested in property or investors profit margins that have bought new build off plan !
    I truly am left bemused by the idiots that are supposed to be running this country.

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  • The idiots running the country fully realise that the economy predominantly driven by long term mortgage debt. Taking this to it’s logical conclusion means driving first time buyers into tiny flats with large mortgages, said FTB’s will then start a lifetime of debt climbing the ‘property ladder’ in a financially enslaving attempt to ultimately find somewhere ‘nice to live’. Every step on the ‘property ladder’ equals a nice wedge of stamp duty for the state and fees/commission/interest for everyone else.

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  • Whilst I am sure there are some experiences in the sector, my current portfolio of BTL in North London generate a gross yield of 5.8% based on the last sales price of identical flats. Maybe it gets worse, but frankly at those rates of return, I don’t see what the fuss is about.

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  • Great to see confused76 back …with a vengeance!

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  • the xyy man says:

    “BTL heads back to it’s foundations” – is there a play on words here???

    I suspect some of these developments may do just that – when they are demolished!!!

    And no doubt those foundations will be as cheap and badly put together as the crap sat on top of them…

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  • “If a block is designed to be let, developers can increase the density and make it more attractive to investors,”

    “increase the density and make it more attractive to investors”!!!!!!!! Why are we building these things?? I can’t even bring myself to call them flats or apartments. Are we really so short of land to build on??? Did I miss something? At least the social housing experiments of the ’60s & ’70s had good intentions at heart. They have been proved wrong over time, but still…. This is calculated exploitation of a staggering kind.

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  • “Property investors who fear that returns from the traditional buy-to-let market are evaporating may be able to access off-plan rental accommodation through “build-to-let” schemes.”

    GO ON THEN, I dare you. You can make sooo much money, honest.

    Also –“The government is looking at ways to bring more private money into the rental sector as it becomes increasingly clear that investment from buy-to-let landlords is not going to support its ambitious housebuilding targets.”

    I BET THEY ARE.

    Now : Just how many fools out there are there ?

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