Dr Afzal Posted January 12, 2016 Share Posted January 12, 2016 Profit over community. Well done, very parasitic of you. Fingers crossed the Uni continues to build student accommodation so people like you are put out of business. When does the community care about a landlord? The community is the people, and the vast majority of people look after themselves. Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 12, 2016 Share Posted January 12, 2016 And today. Just looked at one of my shares, its down 25% in the past six months. Sell everything ahead of stock market crash, say RBS economists' http://www.theguardian.com/business/2016/jan/12/sell-everything-ahead-of-stock-market-crash-say-rbs-economists?CMP=fb_gu The third thing on my list the the housing bubble and the financial risk both to the economy and individuals. We know that the roots of the financial crisis in 2008 were in America's sub-prime mortgage sector, and the leveraged instruments based on that. Those instruments still mostly exist. They are still there, still waiting to implode. Yet this time in the UK we have another housing bubble stacked on top of it that jhas been allowed to be kept inflated by the banks, and even encouraged by the government. And people have been allowed to over-leverage themselves, many making irrational financial decisions predicated on a belief that house prices will only keep rising. Many of those people are over-leverage in BTL. So we have serios systemic risk and many people facing financial ruin. ---------- Post added 12-01-2016 at 21:38 ---------- Hmm. A bit of a sweeping generalisation there. I am on a final salary pension scheme so my pension is guaranteed. So getting into letting as a form of investment is not a bad idea at all. You don't have to be in trouble to do it. That is why you don't have a mortgage on the property being let You are in a better position than most and we'll donevfor being prudent. I don't think you are typical. Link to comment Share on other sites More sharing options...
WiseOwl182 Posted January 12, 2016 Share Posted January 12, 2016 The third thing on my list the the housing bubble and the financial risk both to the economy and individuals. We know that the roots of the financial crisis in 2008 were in America's sub-prime mortgage sector, and the leveraged instruments based on that. Those instruments still mostly exist. They are still there, still waiting to implode. Yet this time in the UK we have another housing bubble stacked on top of it that jhas been allowed to be kept inflated by the banks, and even encouraged by the government. And people have been allowed to over-leverage themselves, many making irrational financial decisions predicated on a belief that house prices will only keep rising. Many of those people are over-leverage in BTL. So we have serios systemic risk and many people facing financial ruin. ---------- Post added 12-01-2016 at 21:38 ---------- You are in a better position than most and we'll donevfor being prudent. I don't think you are typical. Still waiting on an answer to yesterday's question. Link to comment Share on other sites More sharing options...
Solomon1 Posted January 12, 2016 Share Posted January 12, 2016 Yes, please explain why people shouldn't be able to buy property and rent it out if they choose to? If no-ones said this already.... Cos it meks renting more expensive Link to comment Share on other sites More sharing options...
WiseOwl182 Posted January 12, 2016 Share Posted January 12, 2016 If no-ones said this already.... Cos it meks renting more expensive Yes, it's called demand and supply. Should we ban people from buying Mars bars to reduce the demand and therefore price of them? We live in a free society, if something is for sale and you have, or can borrow, the money, then you are free to buy it. Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 13, 2016 Share Posted January 13, 2016 Still waiting on an answer to yesterday's question. Why is it bad that people are allowed to do BTL and split up properties as HMOs? In principle it isn't when there is as genuine demand, like the demand penistone999 meets for student housing. It is bad when the demand has been artificially created. I work with a lot of young people who want their own places but are stuck on crummy HMOs paying high rents. Young professionals are stuck in converted cellars and lounges sharing with strangers. 20 years ago they would have been buying their own sub-£40k homes in places like Hillsboro, Walkley etc... A lot of this demand is met by amateur BTL operators. I'm not blaming the BTLers, as I stated they are just meeting a demand the system has created. I'm blaming a system that allows a house price bubble to continue and fails to build adequate housing. Link to comment Share on other sites More sharing options...
Cyclone Posted January 13, 2016 Share Posted January 13, 2016 Leasehold depends on what is written in Lease. May be land or buildings. I saw one for 999 years so they vary. You may have right to do anything or nothing. You get mortgage to buy right to use it but not own, being same for most practical reasons. If you're talking about the UK, the lease is for the land, you own the house on it. There may be restrictions about extending the house, but internally you can do what you like. And you CAN demolish the place if you like. Leaseholds can also be automatically purchased by the lessor and/or extended, the owner of the land cannot refuse either of those things. It's absolutely nothing like paying in advance for a lifetime rent. Particularly since when you die the possession (ie the house) is passed to your descendants like any other asset. ---------- Post added 13-01-2016 at 08:26 ---------- If property prices crash, it will be a good opportunity to snap up a few bargains to rent out. As others have already said, there is lots of demand from tenants. If prices crash then rental prices will fall as well. Coupled with the attacks on landlords that the government are making, entering the market wouldn't look like that smart a move. ---------- Post added 13-01-2016 at 08:27 ---------- If no-ones said this already.... Cos it meks renting more expensive Surely it makes renting cheaper. Basic supply and demand. Link to comment Share on other sites More sharing options...
Solomon1 Posted January 15, 2016 Share Posted January 15, 2016 Yes, it's called demand and supply. Should we ban people from buying Mars bars to reduce the demand and therefore price of them? We live in a free society, if something is for sale and you have, or can borrow, the money, then you are free to buy it. Just because we can Does that mean we should? It's a question of morals dude Link to comment Share on other sites More sharing options...
Berberis Posted January 15, 2016 Share Posted January 15, 2016 So providing accomodation for students makes me and other BTL landlords parasites ? Yes it does. You are the reason why its costs over £750 pcm for a 3 bedroom family home that last saw any updates in the 70's. You are the reason why there is an effort now in Crookes to try and rebuild the community. You see profit over the community as a whole, so that makes you a parasite in my mind. Link to comment Share on other sites More sharing options...
Solomon1 Posted January 15, 2016 Share Posted January 15, 2016 Yes it does. You are the reason why its costs over £750 pcm for a 3 bedroom family home that last saw any updates in the 70's. You are the reason why there is an effort now in Crookes to try and rebuild the community. You see profit over the community as a whole, so that makes you a parasite in my mind. I'm afraid I have to agree Folk owning 1 house to make ends meet OK But people who own a 'portfolio' Capitalism at it's worst Link to comment Share on other sites More sharing options...
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