UK house price to crash as global asset prices unravel

[convert]

That is 100% correct.

No home owner gains anything on increase of their house price.

Those cause rent prices to rise so poorest are screwed.

You need more money to upgrade so property ladder becomes steeper.

And first time buyers see first step of that ladder become higher and higher.

Major crash would ruin some peoples lives but would be beneficial for most in long run.

 

The only ones who gain, are those who are downsizing.

[biotechpete]

Quite the opposite Chem . Im currently in the process of buying two more properties . One three bed semi in Crookes that will be turned into a sutdent HMO , and a three bed detatched that will be split into two flats .

 

There will always be people who want private rentals ,and there will always be students , so i have no worries what so ever.

 

Can I ask what the benefit for you is of investing in property instead of equities/stocks?

[Cyclone]

The only ones who gain, are those who are downsizing.

 

And those who already own multiple houses.

[foxy lady]

Clause 24 is being challenged via judicial review regarding the mortgage interest relief= https://www.crowdjustice.co.uk/case/clause24/

I have one buy to let, you are right that it's the tenants you will feel sorry for as I can sell up and pay off the btl mortgage and still have a healthy sum left whereas the poor tenant will have to go to the council homeless section...

 

But then you will be selling a property with a sitting tennant.

[Berberis]

Quite the opposite Chem . Im currently in the process of buying two more properties . One three bed semi in Crookes that will be turned into a sutdent HMO , and a three bed detatched that will be split into two flats .

 

There will always be people who want private rentals ,and there will always be students , so i have no worries what so ever.

 

You're taking a 3 bed family home and turning it into a student house. Well done you for ruining Crookes a little bit more.

[mafya]

But then you will be selling a property with a sitting tennant.

 

Not if I serve a notice to quit and write a letter for the tenant to give to the housing that will help her get rehoused.

[geared]

If buy to let collapses it's the tenants I feel sorry for. A lot of them are going to find themselves homeless through no fault of their own.

 

This in a nutshell.

 

People make point and decry BTL as scum of the earth.

But in reality they have stepped into the gaping housing hole left by councils all over the country.

 

Council housing is a joke in many parts of the country, it was all sold off and nothing new was built.

 

People need places to live, thats never going to change so alot of people have gone to the BTL market to find accomodation.

[Cyclone]

They won't end up homeless though. Firstly, selling a house doesn't make it easy to kick out a sitting tenant.

Secondly, if house prices crash because of this, then people can move out of the rental market and become house owners.

And of course as prices drop, landlords will become less keen to sell, which will put a brake on the decline.

And large landlords are excluded from the attack by the government, so they will buy out small landlords and keep creaming off the profit. All part of the Tory plan to help the rich.

[Berberis]

They won't end up homeless though. Firstly, selling a house doesn't make it easy to kick out a sitting tenant.

Secondly, if house prices crash because of this, then people can move out of the rental market and become house owners.

And of course as prices drop, landlords will become less keen to sell, which will put a brake on the decline.

And large landlords are excluded from the attack by the government, so they will buy out small landlords and keep creaming off the profit. All part of the Tory plan to help the rich.

 

Don't forget, a landlord is obliged to offer the property to the sitting tenet first, so if they can afford to buy, they can.

[Cyclone]

I didn't know that.