There wasnt much in it anyway - say about .5%

 

Spot on!

 

What happens during the next economic crisis Dave? The government is using all its instruments now including sub prime state backed lending now to keep the market inflated.

Also who is going to keep buying all these houses which are rapidly increasing in multiples of average earnings? How much state backed debt can the state provide?

Truly we are kidding ourself if we think our crumby housing stock is really worth more than Parisian palaces, not that i disagree with you short term though.

 

But nobody is lending unless you have anything in the first place. People who ran debts up ages ago wont be able to borrow a penny. People who have deposits will be able to lend but at the same time, they still have to borrow a shed load because its too expensive to buy a house as it is... When you say who is going to buy all these houses - answer is, all the people who already own 5+ and paid them off with renting them out for x amount of years in the past. I was trying to explain to my dad last week - if you aint on the property ladder now you've lost your chance imo. You need to have a massive amount of savings or be earning a massive amount to borrow just to get on that step now. We will be a country where we have a divide of people rich renting property and a group who are living ok but resorting to renting because its the only way for them now.

 

I'm not sure that works. The market seizes up with no FTB'ers, hence the new schemes from the government to make taxpayer guaranteed deposits available. House prices are just the prices of recent sales. Also don't forget that if we do end up with a small % of people owning and renting to the rest of us, the renters do have votes, like the owners now they can constitute a sectional interest able to dictate state policy towards the housing market.

 

The government schemes are based around the fact that theyre landlords. Buy half a house and rent the rest - its the only way. Granted its giving someone a chance but not much more.

 

Oh dear its got ugly in here ,and for why.....

 

Because we're all a bunch of ugly looking middle aged men. Noticed non of the SN Ladies have made their appearance in a boring thread

 

Perhaps this subject is of low interest to them......

 

I'm thinking this is a great thread - carry on

Hasn't been this feisty in here for ages...




And this - the nail has firmly been hit on the head

 

Ahhh nostalgia

 

Who will deal with the bleeding ******** of Fife if I realise the error of my ways and sublet a cupboard in the **** end of tdw's barge up the Wirral whilst masturbating furiously over his sociology textbook?

 

This.

What makes me laugh is Matteeboy going on about how it only costs £1000 a month to rent a £700k house and anyone who has a mortgage is an idiot

Unfortunately Matteeboy you need to get out of Cornwall and experience the real World and see that renting is more expensive than a mortgage for the majority of the country. As for house prices being dreamt up by estate agents more utter tripe from you. It's called supply and demand and house prices are going up because of it not because of what you believe to be that estate agents put the prices up to what ever they like

 

Don't know about the others but I'm one of those boring (and rare on SN it seems) people who bought a house just to live in. Not as some sort of investment plan or fantasy brag-piece to impress complete strangers

Good thread though

 

Ding regularly resorts to ad homs when flummoxed.

 

Why would I want to get out of Cornwall?

And why are sale prices so much less than estate agents prices?

Davegtt; still a savagely bitter old cretin as always. We know why you snipe so much.

Anyway, good to have stirred it up a bit.

 

I have my doubts that this is true. Those figures would mean the landlord is getting a 1.7% return on his money. I've never seen anything like that in my life, sure sometimes large family houses have a poor yield compared to smaller units but 1.7%???

What would he be left with after maintenance costs and tax? Virtually nothing, and he has to deal with Matteeboy as well.

He should sell the property for £700k and do something else with the money.

So either Mattee has made the whole thing up or Cornwall is some kind of micro economy that I've never seen elsewhere.

 

And I'm bitter how exactly? I love my life and situation. And its only due to get better next year but thats another subject. Im not bitter in the slightest, I can just see past your tripe!

 

I rented two houses between 2006-11 that had rental yield around 2.5% eg 5 bed 3000+ sq ft for £10k pa, but 1.7% is very good.

 

 

Rental prices in Penzance are more typical of Cornwall than Polzeath. A 4 bed house here will cost in the region of £250-£400K and the rent would be circa £1000 a month. So Matteboy, you are getting a very good deal. Make sure you keep your landlord happy!

 

That's the trouble with the Internet it always brings out the fantasists.... bought a house to live in indeed... ridiculous

 

Still, but to brag about paying £1000 per month or £72000 in the past 6 years in rent for the privilege of living in someone else's property and not paying any maintenance is a bit much, especially since he fails to realise the cost of maintenance is already priced into the rent he pays!

In any case, now is probably the best time to get onto the property ladder, investing or not. Whilst there was a dip in UK property prices, we did not see, what some expected, a full scale correction in the market. Prices have levelled out since 2010 and whilst I doubt we'll see the stratospheric rises of the previous boom, I think there will definitely be more steady and measured rise here on in. The signs are there, confirmed stable base rates for the next 3 years and a gradual move into a recovering and growing economy. Say what you will about the economy and property, but the trend lines do not lie!.......IMO

 

You are once again ignoring the elephant in the room, go on tell us... you're David Cameron in disguise

 

Are you, me and TdF the ONLY ones that get it?!

Jon; brag? It's just what we paid. It's now more but the business pays a bigger chunk. Cheap rent, great house, super low overheads. It's not bragging, it's just facts.

And the utter goons who attempted to calculate a return; both houses are owned outright and have been for many decades. Did you not even slightly consider that?

My word, no wonder you don't get it...

 

But............. your rent is soooooo cheap. Are you also doing sexual favors?

 

Eyooo, that made me feel ill!

£1200 here, through an agent (albeit a cr4p one) so all through the normal channels.

Long term lets on family houses are incredibly rare here; we literally fell over ourselves to grab it. The decor is dodgy but the house and garden are ideal.

The last place was lovely but not much good for kids or surfing.

 

Why would I need to consider whether the property you're renting is owned outright? When I mentioned maintenance, it referred to the maintenance of the property you're renting, not the servicing of the mortgage.

Look, if it seems like I'm having a pop at you, then I apologise, that's not my intention. Renting suits your lifestyle and your business that's fine by me, I'm not here have a dig at your way of life, in fact it sounds idyllic, seagulls aside, who wouldn't like to live by the coast. All I'm saying is that now might possibly be the best time to get in to property ownership.

As for F1, well there's not much to say about him other than he adds nothing to discussions. From my point of view he only takes delight in trolling mine and other peoples posts with anti-government vitriol and other pointless diatribe. It would not surprise me in the least if sat in front of his computer wearing a Guy Fawkes Anonymous mask. I take comfort in the fact that he's not contributed to the gene pool and that's not through choice either They say ignorance is bliss, I never believed this until I added him to the ignore list.

 

What do you do when you can't argue your position with logic? Resort to claims of using the ignore list and getting personal.

The only one displaying any ignorance is you with your absolute failure to acknowledge the real state of this country's future and how little your beloved government are doing about it. Oh and on top of that you are a Grade A 'James Blunt'

 

Two subjects that can never be discussed in a peaceful, sensible manner:
Religion and Politics.

This conversation technically being the latter, I will briefly make my point then will high-tail it out of here quick sharp before an angry mob takes form.



I currently rent. Why? because house prices are too high, and in my opinion; too great for what you're actually purchasing! If we were all to build our own houses it would cost a fraction of the price (and would probably be better quality too).

I strongly believe that the sample people keeping house prices high are those same people holding the reigns for all prices and lending rates and interest, and everything else for that matter...

Who is it? All of us. Those that are selling (be it whatever) are greedy, because everyone else is greedy. Whilst those buying continue to pay the greedy their inflated profit margin prices, they'll continue to charge them. and you know what? I can't say I blame them either, if I could do it, then I would!!

In the meantime, I'll keep saving for my house deposit where ever I can, but needless to say I probably won't ever get to see house ownership.

Just my 2p.