Jacksgranda Posted September 28, 2021 Share Posted September 28, 2021 4 minutes ago, WhiteRoseKillie said: ..as should any decrease. This was the point which was spectacularly missed by almost everyone after I pointed out that a crash in the market would not be the worst thig that could happen. Your first property is your home, not an investment. I went through the rollercoasters of the eighties without giving much of a fúck, as my house was what kept the rain off - it wasn't my vehicle for retiring at forty. Any subsequent properties? The value of investments can go up as well as down, after all. The current situation has young people unable to buy their own home because they're up to their ears paying the mortgage on some fucking parasite's third or fourth - or hundredth or thousandth - house. The idea that Loyds Bank could be the biggest landlord in the next five years is absolutely obscene - "no, you can't have a mortgage - we'd rather you pay us twice as much in rent and never own so much as a brick. Know your place, peasant." Me too. I'm baffled how people can afford to buy more than one property. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted September 28, 2021 Share Posted September 28, 2021 1 hour ago, Suspect Device said: Too many people have bought houses as an investment and not as a home. That should be it's main purpose. Any increase in value should be irrelevant. I doubt if you can prove/justify that though equally I might find it difficult to prove otherwise. Purely anecdotally, therefore, I doubt if anyone I know bought their house primarily as an investment. 0 Quote Link to comment Share on other sites More sharing options...
tamthebam Posted September 28, 2021 Share Posted September 28, 2021 4 hours ago, speckled tangerine said: Secret Army. 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted September 28, 2021 Share Posted September 28, 2021 On 26/09/2021 at 23:40, bendan said: People were predicting: No fruit and veg in the shops Big rise in unemployment Collapsing house prices Grounded flights A quid more on a bottle of wine Etc Are you saying it's going to be much worse than that? I'm sure some were. Most of the sober predictions were for a few tenths of a percentage point off GDP growth in the long term. 0 Quote Link to comment Share on other sites More sharing options...
Meldrew Posted September 28, 2021 Share Posted September 28, 2021 6 Quote Link to comment Share on other sites More sharing options...
Soapy FFC Posted September 28, 2021 Share Posted September 28, 2021 10 minutes ago, Meldrew said: Nothing to see here, move along please... 1 Quote Link to comment Share on other sites More sharing options...
Detournement Posted September 28, 2021 Share Posted September 28, 2021 4 hours ago, WhiteRoseKillie said: The idea that Loyds Bank could be the biggest landlord in the next five years is absolutely obscene - "no, you can't have a mortgage - we'd rather you pay us twice as much in rent and never own so much as a brick. Know your place, peasant." Banks offering mortgages should be banned from buying residential properties. This should be an easy vote winner for Labour but they won't touch it under Starmer or his MP picked successor. 2 Quote Link to comment Share on other sites More sharing options...
Detournement Posted September 28, 2021 Share Posted September 28, 2021 (edited) 36 minutes ago, Meldrew said: The fish and the fields don't disapear. The small capitalists get knocked out and the big capitalists take over. The UK needs to use every acre of land that can produce food for food so Barbour jacket types with a few sheep, clay pigeon shooting, quad bikes and glamping need to GTF anyway. Bill Gates is the biggest farm owner in America now. The same thing will happen here and in the EU as well with oilgarchs and hedge funds taking over agriculture. Edited September 28, 2021 by Detournement 1 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 28, 2021 Share Posted September 28, 2021 4 hours ago, Granny Danger said: I doubt if you can prove/justify that though equally I might find it difficult to prove otherwise. Purely anecdotally, therefore, I doubt if anyone I know bought their house primarily as an investment. Loads of people have bought to let. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted September 28, 2021 Share Posted September 28, 2021 18 minutes ago, welshbairn said: Loads of people have bought to let. Yes they have, but that’s a totally different think from what we’ve been discussing. 0 Quote Link to comment Share on other sites More sharing options...
Billy Jean King Posted September 28, 2021 Share Posted September 28, 2021 Me too. I'm baffled how people can afford to buy more than one property.The truth is a hell of a lot of those that do CAN'T afford it. The fact that rent can outstrip mortgage payments is ludicrous. All you need is a fraction of the value of a property to purchase that property. Rent virtually paying the mortgage and sell it on a few years later for a tidy profit or borrow again against the increased value to basically rinse and repeat. A reasonable rise in interest rates would see the whole deck of cards collapse 2008 style. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted September 28, 2021 Share Posted September 28, 2021 1 hour ago, Billy Jean King said: 8 hours ago, Jacksgranda said: Me too. I'm baffled how people can afford to buy more than one property. The truth is a hell of a lot of those that do CAN'T afford it. The fact that rent can outstrip mortgage payments is ludicrous. All you need is a fraction of the value of a property to purchase that property. Rent virtually paying the mortgage and sell it on a few years later for a tidy profit or borrow again against the increased value to basically rinse and repeat. A reasonable rise in interest rates would see the whole deck of cards collapse 2008 style. Buy-to-let owners are seen by some on here as devils incarnate, I can understand the reasons behind this. However if a significant rise in mortgage rates saw “the whole deck of cards collapse” do you think the landlords would be the only victims? I reckon many tenants would be left in a very, very precarious position. Social housing should be prioritised but the move from private to public provision needs to be managed to minimise the negative impact on tenants. 0 Quote Link to comment Share on other sites More sharing options...
BFTD Posted September 28, 2021 Share Posted September 28, 2021 3 minutes ago, Granny Danger said: Buy-to-let owners are seen by some on here as devils incarnate, I can understand the reasons behind this. However if a significant rise in mortgage rates saw “the whole deck of cards collapse” do you think the landlords would be the only victims? I reckon many tenants would be left in a very, very precarious position. Social housing should be prioritised but the move from private to public provision needs to be managed to minimise the negative impact on tenants. Friend of mine had a shitehawk landlord who went bankrupt many years ago. She ended up buying the house at auction for a fraction of the market value. Just a one-off story, obviously, but if buy-to-let landlords started dropping like flies and the market was suddenly flooded with properties, it could also be a good thing for tenants. 0 Quote Link to comment Share on other sites More sharing options...
HeartsOfficialMoaner Posted September 28, 2021 Share Posted September 28, 2021 55 minutes ago, BFTD said: Friend of mine had a shitehawk landlord who went bankrupt many years ago. She ended up buying the house at auction for a fraction of the market value. Just a one-off story, obviously, but if buy-to-let landlords started dropping like flies and the market was suddenly flooded with properties, it could also be a good thing for tenants. I work in this area and the vast majority of tenants are foreigners or students, also English coming up fo short term contracts that don't want to buy a property as they are only here for work. They need the private landlords so they have somewhere to live. This is what it is like in Edinburgh. Private landlords are a necessity. Lot's of Chinese now coming in. I don't know if they are allowed to buy property right away even though they have the money so they need to rent. 0 Quote Link to comment Share on other sites More sharing options...
Guest Bob Mahelp Posted September 28, 2021 Share Posted September 28, 2021 5 hours ago, Meldrew said: The Express is truly the khunt's khunt newspaper of choice. It's a poisonous propaganda sheet for far right mental cases. 0 Quote Link to comment Share on other sites More sharing options...
bendan Posted September 29, 2021 Share Posted September 29, 2021 12 hours ago, Bob Mahelp said: The Express is truly the khunt's khunt newspaper of choice. It's a poisonous propaganda sheet for far right mental cases. I'm convinced the Express only exists to provide a go to source for 'crazy Britain' stories in the foreign press. It and the Daily Mail are by far the most-referenced UK papers I see. 0 Quote Link to comment Share on other sites More sharing options...
btb Posted September 29, 2021 Share Posted September 29, 2021 Brave New World... Quote Genetically modified food a step closer in England as laws relaxed Ministers are keen to use Brexit to allow gene editing, a form of genetic modification that is heavily restricted in the EU, to be used in the UK, despite a public consultation that found 87% of people who responded viewed gene-edited crops as a greater risk than traditional crop breeding methods. Genetically modified food a step closer in England as laws relaxed | GM | The Guardian 0 Quote Link to comment Share on other sites More sharing options...
oneteaminglasgow Posted September 29, 2021 Share Posted September 29, 2021 13 hours ago, HeartsOfficialMoaner said: I work in this area and the vast majority of tenants are foreigners or students, also English coming up fo short term contracts that don't want to buy a property as they are only here for work. They need the private landlords so they have somewhere to live. This is what it is like in Edinburgh. Private landlords are a necessity. Lot's of Chinese now coming in. I don't know if they are allowed to buy property right away even though they have the money so they need to rent. Honestly, why couldn’t that be dealt with through publicly owned rental properties? Private landlords are only a necessity because they have created a problem to which they are the solution. 1 Quote Link to comment Share on other sites More sharing options...
Soapy FFC Posted September 29, 2021 Share Posted September 29, 2021 12 minutes ago, btb said: Brave New World... Genetically modified food a step closer in England as laws relaxed | GM | The Guardian I see that Scotland, Wales and NI will be able to decide themselves if they want to follow or not. If they decide not to, how will pollen carrying insects be stopped from crossing the border and bring modified pollen with them, thereby contaminating unmodified crops outside of England? 0 Quote Link to comment Share on other sites More sharing options...
Salt n Vinegar Posted September 29, 2021 Share Posted September 29, 2021 Just now, Soapy FFC said: I see that Scotland, Wales and NI will be able to decide themselves if they want to follow or not. If they decide not to, how will pollen carrying insects be stopped from crossing the border and bring modified pollen with them, thereby contaminating unmodified crops outside of England? Snipers. 2 Quote Link to comment Share on other sites More sharing options...
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