Comments on: I’m Bored Of Doom & Gloomers Chatting Shit To Me

By: Fos Glos

Fos Glos — Sun, 11 Oct 2009 20:14:36 +0000

Some of the posters on here are great with their high five “can’t go wrong with property”.
All very well to dismiss HPC, but you do look a bit silly if you are just as dogmatic on the pro property side.
Property provides a small return in the long run. Now and again you can make a killing but that’s at other people’s expense which isn’t very nice is it?

By: Sabine

Sabine — Fri, 25 Sep 2009 20:55:40 +0000

Good god, what is it with english people and their hatred of Landlords. If you can’t afford to buy a property, you will ahve to rent one. If no one buys property to let out where are you going to live ? I come from a country where house ownership isn’t reagrded as a right and not that many people do own their property. On the other hand there are few “private” Landlords, most of them are buy-to-let. This is great, as they don’t turn round in 2 years and tell me I have to move as they are selling. I hate the way I am treated as a tenant in this country (even though my current landlady is lovely and can’t do enough to make me feel comfortable). As a tenant I am effectively living in temporary housing, which is very scary and gets expensive after a while (moving house cost money, deposits need to be paid before the previous is returned etc). My nan has been renting her flat since 1953. It is her home. Thats the other thing which grates me in this country. If I rent a place from you, it is your house, but it is my home. I don’t want to be told what colour and if I can repaint the front room. Other than structural work, it should be up to me how I decorate the place. If Mr Landlord didn’t just see me as a temporary mortgage payer who will be removed as soon as the housing market picks up, maybe he wouldn’t mind so much. If people who used to live in the property and now rent it out for whatever reason would understand that it is now no longer their home, maybe things would be easier. And maybe not so many frustrated tenants would hate their landlord. Because people tend to rent for long times where I come from, tenants don’t mind doing-up the property they live in. And they don’t ask the landlord to pay for it. (within reason – if something needs to be done as it is run-down or broken, the landlord pays. If you just feel like re-painting because you prefer to live in a day-glo living room, you pay yourself). Rented properties are usually looking just as good as owned properties and people are proud of their home. But then, they don’t have to fear that they will get chucked out again in 12 months time, they can be sure to still live there when they draw their pension, if they so wish…

By: SocialMike

SocialMike — Thu, 10 Sep 2009 10:27:17 +0000

Landlords are great – they mean we can sell our properties just before the crash and have somewhere to live whilst reinvesting the proceeds into better performing assets

Remember: we’re all renters until the last mortgage payment is made; and no money is made until the cash is in the bank.

Owning property is becoming more expensive and (legally) onerous by the year. One could even ask (and I’m surprised more don’t), who *really* “owns” your house when the Govt reaches in and dictates what you can and can not do with it (or how and when it can be sold)?

And I can assure you, the bods at the Dept of Energy & Climate Change, CLG and the EU are looking at (yet) more radical proposals.

By 2015, I’d wager, we’ll all be asking: who actually owns my house?

By: Cheshire Cat

Cheshire Cat — Fri, 14 Aug 2009 09:32:15 +0000

What do you think of all these underhand shenanagons?

http://icelandweatherreport.com/2009/08/kaupthings-loan-book-exposed-and-an-injunction-ordered-against-ruv.html

Seems like the current trend of Dodge insider loans, Northen Rock and the Cheshire Building Society did the same tricks.

By: The Landlord

The Landlord — Fri, 14 Aug 2009 08:19:04 +0000

Hello there Cat!!
Well one thing is for sure, it’s in the Governments best interest to keep the property market alive, because as you said, we’ve got nothing much else!

Congrats on the purchase! Now is definitely the time to snap up those bargains!

Love, love, love!

By: Cheshire Cat

Cheshire Cat — Thu, 13 Aug 2009 22:32:36 +0000

Hi Again Landlord, hope your well.

I have a theory i’d like to “publish”:-

The UK has not got alot going for it, the only thing holding this countrys finances together is the finance industry (cant believe i’m saying that!) and the value of our real estate. We don’t manufacture really, we don’t export, we don’t mine…. we’re just a paperwork excersise really, a big fat debt machine.

I have a feeling that whoevers at the helm of our boat realises that keeping those two gravy trains rolling is the only option. If that means shimming up a stagnant ecomonmy for the next decade or even two, thats better than a 1980’s style propery crash. Even at the cost of jobs, savings, exhange rates, blahh….

I feel they will put off a property crash at all costs, even if it does slowly drive this country into the ground. Good for the present and capitalism, but maybe in 100 years time, our kids will read books of the old “Great Britian”, while the world they live in feels more like Kazakstan.

On that note, i’m buying a house, and I hope it to be the first of many profitable ventures.

Show me Love,

Cheshire Cat

By: sycorax

sycorax — Thu, 13 Aug 2009 07:32:51 +0000

Lots of other people who couldn’t sell have had to ‘become’ BTL landlords in 2008. Talk about a high learning curve! For them, the rent may not even cover the repayments, or barely, but I am sure that within the next 5 years, once debt has been overpaid and I have been able to remortgage to a better deal, hanging onto our place was the wiser move. it has given us the chance to move up a rung to a second BMV house rather than stay in a flat, and to do that up and hopefully increase equity there. And I know that my tenant has an easier life and better living conditions than me! ll mod cons – the quality of rented accommodation out there now is really high. So if I was under 25 and wasn’t a trustafarian, I’d be renting and saving till I could buy at auction. Happy and wholsesome life indeed! Sadly anyone planning a family and needing bigger housing has to adapt and try to protect their property, hanging onto it in the hope that things improve by 2011. Trying not to think about the concept of a 10 year slump! If there is one, guess we’ll have to keep repaying and renting out!

By: stephie

stephie — Tue, 11 Aug 2009 18:20:42 +0000

well i rent i think with the right landlord you will get a dame sight further than buying yourself well for me n e way.i haven’t settled yet so for me to buy is a waste of time im not tied into selling a house for less than i paid for it and i don’t have the hassle of trying to sell it if i had enough to buy to rent i would too. so landlords well done and keep Ur tenants happy.and to all u do gooders kiss ur bosses ass after u finish ur 50hour ……ps risk r there to be taken

By: John

John — Sun, 02 Aug 2009 16:52:34 +0000

Hello

I am the proud subject of this article and it is amusing to see some of the responses so far down the line.

I will reiterate the fact that ‘the landlord’ has yet to go into his equity standing of which I believe to be of core importance and interest to many.

Secondly something which I never pointed out is the fact that housing slumps tend to last many years, the last UK example was 6-8 years. The world was able to pull the UK out of that particular one and inflation eroded debt much of the debt anyway.

We are now in a period of deflation and could be for some time so debt is increasing relative to everything else instead of eroding it. Added to that, the world (including the UK) are de-leveraging after a long period of credit expansion. Therefore a housing slump could exist of a more lengthily period than history might suggest.

This is something ‘the landlord’ and other landlord readers of this site tend to ignore.

Finally, to the people who believe this is my ideological attack on capitalism, get over yourself. I am merely trying to point out the irrational exuberance that got so many people in trouble in the states and all over the world, but seems to still exist within readers of the blog.

John

By: The Landlord

The Landlord — Tue, 28 Jul 2009 12:30:09 +0000

I had property before 2006, I just started buying property on my own from 2006.

Anyhow, I purchased a property for £145k in 2006, and it’s valued at 175k right now. That’s not bad. That’s just one example.

And equity loss is taken into consideration, just as rental income to make repayments is taken into account. In the short term i’ve lost equity, which is self-implied, I hope. But i’m recovering slowly each month as I reduce debt with rent. It’s a 10-15yr plan.

I also purchased well BMV, which I guess you conveniently ruled out of the equation.