Generation Landlord

[Cyclone]

Are they? I take it you have some evidence?

 

---------- Post added 28-07-2014 at 15:02 ----------

 

Er, a case of biter bit.

 

No, a case of you not understanding.

 

The inflation stopped.

This is past tense, it's historical, it had a clear date associated with it.

 

Inflation is still taking place.

This is current tense, it means today.

 

Do try to keep up.

[tzijlstra]

No, he doesn't, just some circumstantial spouting. When you point out there are 200+ homes under 80K listed as for sale in Sheffield it goes eerily quiet. But if you keep repeating the fallacy, it might become a prophecy.

[firemanbob]

You are saying that BTL investors caused the crash, they didn't.

They played a significant part in it.

 

 

 

You are saying BTL investors are responsible for pushing out first time buyers, they didn't.

They did and they still do.

 

 

 

The way you are arguing I am beginning to think that in your ideal world we would all be given a nice free house to live in, got our shopping paid for through magic fairy dust (it wouldn't be called shopping, it would be called taking) and people don't have a responsibility to manage their own finances.

 

 

 

I hate to burst your bubble bob, but that isn't the world we live in. We do however live in a world with opportunities for everybody prepared to put in the effort and planning to get them, including buying a house.

 

 

 

You keep referring to some mythical person that got duped because a BTL investor offered more, I can refer to actual people, on or around the national living wage (whatever that means) that didn't get pipped to the post and did make it onto the ladder, not with ease, but with planning. It really doesn't take all that much.

 

You are obviously reading something that I haven't posted, and the people I am talking about are quite real and were gazumped by BTL investors, so houses that were up for sale, with young couples wanting to buy, were eventually sold to investors and then put up for rent.

 

---------- Post added 28-07-2014 at 15:08 ----------

 

Are they? I take it you have some evidence?

 

Yes there is a very large amount of evidence.

 

---------- Post added 28-07-2014 at 15:11 ----------

 

No, he doesn't, just some circumstantial spouting. When you point out there are 200+ homes under 80K listed as for sale in Sheffield it goes eerily quiet. But if you keep repeating the fallacy, it might become a prophecy.

 

How does the number of houses for sale in Sheffield change the fact that BTL investors have forced prices out of the reach of many, how many people are currently trying to buy them? how many are first time buyers? how many are Investors?

[geared]

80k really isn't out of the reach of many.

[Womerry2]

How about some radical legislation: Buy to let us outlawed. Nobody who owns two properties is allowed to buy any more. To invest in housing over and above that, you have to put your funds into managed and regulated housing association that builds new homes or renovates existing housing stock that has fallen into disuse. Bring back Fair Rent. The two houses you may own must be your residence or the place you intend to live when you retire. This would ensure housing stock is maintained rather than run into the ground by landlords who are betting on a rising market and the leverage capital for buying up more places, the competition between

investors and first time buyers ends, new housing is created ... I can't see any downsides.

Edited July 28, 2014 by Womerry2

[firemanbob]

How about some radical legislation: Buy to let us outlawed. Nobody who owns two properties is allowed to buy any more. To invest in housing over and above that, you have to put your funds into mamaged and regulated housing association that builds new homes or renovates existing housing stock that has fallen into disuse. Bring back Fair Rent. The two houses you may own must be your residence or the place you intend to live when you retire. This would ensure housing stock is maintained rather than run into the ground by landlords who are betting on a rising market and the leverage capital for buying up more places, the competition between

investors and first time buyers ends, new housing is created ... I can't see any downsides.

 

Nor can I, but I'm sure the greedy will see a down side.

[tzijlstra]

They played a significant part in it.

And repeat it again for effect.

 

They did and they still do.

 

And again.

 

You are obviously reading something that I haven't posted, and the people I am talking about are quite real and were gazumped by BTL investors, so houses that were up for sale, with young couples wanting to buy, were eventually sold to investors and then put up for rent.

 

And again: were these people not able to buy one of the 200+ houses elsewhere? What was their budget? I bet it was over 80K and they could hae had even more choice.

 

Yes there is a very large amount of evidence.

 

And repeating it again without pointing to it.

 

How does the number of houses for sale in Sheffield change the fact that BTL investors have forced prices out of the reach of many, how many people are currently trying to buy them? how many are first time buyers? how many are Investors?

 

Why don't you try to answer those questions? I feel fairly confident in the fact that there are plenty of first time buyers getting on the market, I know many of them. The number of houses for sale AT THAT PRICE RANGE indicates that there is plenty of affordable property around. You keep insinuating that there isn't because BTL investors buy them. Nonsense, they don't buy all of them. They also never pay over the market price, otherwise they wouldn't be very good BTL investors.

 

80K might seem like a lot to people who bought houses for 10K in the sixties, but in actual fact, if we take real prices in consideration than an 80K house is no more unreachable for people now than a 10K house was for them had they lived in the 60s.

 

You keep banging on about this and you are providing no substance whatsoever. I will repeat my opinion: you are the sort of person that wants to live in a communist state where everything is handed out to people, it doesn't work. Get with the times and stop seeing problems where there are none.

[firemanbob]

I bet it was over 80K and they could hae had even more choice.

 

 

The most recent one was an house on sale at £54K, they offered the max they could afford £60K, there was several bidders and at least one was a BTL investor, he ended up with it, the BTL bidder forced the price out of the reach of his competitors and I know that two of them were couples looking for their first home. If the BTL investor wasn't involved it would be an owner occupied home and would have sold for less than it did. This is happening all over the country in every town, city and village.

 

---------- Post added 28-07-2014 at 15:27 ----------

 

 

You keep banging on about this and you are providing no substance whatsoever. I will repeat my opinion: you are the sort of person that wants to live in a communist state where everything is handed out to people, it doesn't work. Get with the times and stop seeing problems where there are none.

 

You keep banging on about this and you are providing no substance whatsoever to support your stance.

[Cyclone]

And if millions of people hadn't used that money to invest in property, there wouldn't have been a property bubble or a crash.

Yes, there still would.

 

---------- Post added 28-07-2014 at 15:31 ----------

 

Yes there is a very large amount of evidence.

 

Well don't be shy, go ahead and share it.

 

---------- Post added 28-07-2014 at 15:32 ----------

 

How about some radical legislation: Buy to let us outlawed. Nobody who owns two properties is allowed to buy any more. To invest in housing over and above that, you have to put your funds into managed and regulated housing association that builds new homes or renovates existing housing stock that has fallen into disuse. Bring back Fair Rent. The two houses you may own must be your residence or the place you intend to live when you retire. This would ensure housing stock is maintained rather than run into the ground by landlords who are betting on a rising market and the leverage capital for buying up more places, the competition between

investors and first time buyers ends, new housing is created ... I can't see any downsides.

 

No private rental market for the people that DO wish to rent...

[poppet2]

No, he doesn't, just some circumstantial spouting. When you point out there are 200+ homes under 80K listed as for sale in Sheffield it goes eerily quiet. But if you keep repeating the fallacy, it might become a prophecy.

 

But this is still dependent on your salary, a deposit and most important of all whether the bank will give you a mortgage.

 

I know of two people who where refused a mortgage on a property because the house had just been underpinned. Now the fact that work was completed prior to the house being put up for sale and the underpinning was guaranteed, still didn't stop the bank from refusing both couples a mortgage. The owner has an asset he can't sell so has resorted to renting.