comment by scholayScholes (U13961)
posted 8 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Thanks for giving your professional insight as to why, really helpful
comment by scholayScholes (U13961)
posted 21 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Cheers, your input has been invalid.
May as well close the thread.
comment by T-SaliBAG (U11806)
posted 5 minutes ago
comment by scholayScholes (U13961)
posted 8 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Thanks for giving your professional insight as to why, really helpful
----------------------------------------------------------------------
Why should I really add any further. As someone said to you earlier, the young folks that have gone to work, dealt with the hands their dealt with, should move automatically to negative equity?
comment by Boris 'Inky’ Gibson (U5901)
posted 3 minutes ago
comment by scholayScholes (U13961)
posted 21 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Cheers, your input has been invalid.
May as well close the thread.
----------------------------------------------------------------------
The thread should've stopped at point of posting if the OP had any common sense
I only just got onto the thread, nobody said anything to me earlier.
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
comment by manutd1982 (U6633)
posted 23 seconds ago
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
----------------------------------------------------------------------
Yeah I'm not sure if it was old office space specifically, but I watched a TV show about it and I'm sure I read an article about it somewhere. Not sure exactly what the spaces were used for before, but seemed like quite a good setup for certain types of people
comment by manutd1982 (U6633)
posted 5 minutes ago
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
----------------------------------------------------------------------
With new rules you can convert them into flats...they are doing in London
That's hardly a new idea.
comment by T-SaliBAG (U11806)
posted 9 minutes ago
I only just got onto the thread, nobody said anything to me earlier.
----------------------------------------------------------------------
Okay I apologise.
Earlier on, Someone mentioned to the OP what he is proposing is that he worked damned hard, bought a property at £350k. What the OP is proposing is that his property should be worth circa £65,000. Tied to this I am assuming from what he wrote he took the government help to buy scheme, which is £70k.
One, why on earth would any government support this bearing in mind the amount of money they have pumped into HTB?
Two, we should support putting people in bankruptcy that decided to work hard, took sacrifices and got their homes the right way?
I repeat, it is one of the most diabolical article I have seen written here in a long long time
comment by Diafol Coch 77 (U2462)
posted 43 minutes ago
comment by Angus Young (U3979)
posted 7 minutes ago
comment by Rosso out here drippin’ in finesse (U17054)
posted 4 minutes ago
There are myriad problems with the UK housing market, and the Tories have done close to zero about any of them for over a decade.
It’s just yet another really critical problem that the UK public doesn’t seem arssssed to do anything about.
Here are a couple more stats to chuck into the mix:
There are close to 250,000 long-term empty residential properties in the UK, with over half a million bedrooms. If they were all to come back onto the market, not only would we be looking at an unprecedented amount of ‘new stock’ for buyers and renters to choose from, but rental and purchase prices would adjust significantly.
And one in three homes in London’s financial centre are empty, many of which have been invested in purposefully to leave empty whilst they appreciate in value as the market continues its inevitable inflation.
The British public has actively enabled the 1% to continue its self-enrichment whilst the rest pay for it.
----------------------------------------------------------------------
Out of interest, how do we know they are empty?
Feels like it's something that we should be taxing heavily but not sure how that could be confirmed.
----------------------------------------------------------------------
I'd imagine through Council Tax records. There will be an empty house reduction or premium on them in most cases.
----------------------------------------------------------------------
Yep, I think so.
The government publishes the data, and I believe it does so based on council records.
RE Council Tax
https://www.gov.uk/council-tax/second-homes-and-empty-properties
comment by TBW (U6489)
posted 3 hours, 32 minutes ago
Eat the rich?
----------------------------------------------------------------------
How do you cook them..?
A big problem is people financing their lives and not living to their means.
Who doesn’t have an iPhone, a laptop, a gaming PC, a car or lease/ PCP, credit cards full of purchases for holidays, clothes and other expendable items they can’t actually afford?
I learnt this 6 years ago, alongside the birth of my first child, the youth of today aren’t taught to invest and spend their money wisely.
Now onto the energy crises, there are a multitude of factors that have lead to this, Covid, Ukraine, the UK no longer stockpiling gas.
The government could write up another £10bn bill, but then we’ll be paying for that, and furlough for decades to come, eventually the chicken comes home to roost.
I bought my first house about 9 years ago thanks to the Tories who have done nothing. The hep to buy scheme got me on the market.
Bit of a scam once the 5 years is up, as you pay interest, but we saved up with a plan to move on year 5.
Comment deleted by Site Moderator
comment by scholayScholes (U13961)
posted 1 hour, 50 minutes ago
comment by T-SaliBAG (U11806)
posted 9 minutes ago
I only just got onto the thread, nobody said anything to me earlier.
----------------------------------------------------------------------
Okay I apologise.
Earlier on, Someone mentioned to the OP what he is proposing is that he worked damned hard, bought a property at £350k. What the OP is proposing is that his property should be worth circa £65,000. Tied to this I am assuming from what he wrote he took the government help to buy scheme, which is £70k.
One, why on earth would any government support this bearing in mind the amount of money they have pumped into HTB?
Two, we should support putting people in bankruptcy that decided to work hard, took sacrifices and got their homes the right way?
I repeat, it is one of the most diabolical article I have seen written here in a long long time
----------------------------------------------------------------------
Agreed. This is one of the most staggering things I’ve ever read. The OP lives on another planet.
Comment deleted by Site Moderator
Comment deleted by Site Moderator
" If they’re paying the taxes associated with those homes, then so be it."
---------
That is the problem...
You are not allowed buy more than two bog rolls in COVID times? Why? There is a shortage. Same rules apply to houses. You can't build a million houses in London
comment by Poolmyfinger (U12438)
posted 53 minutes ago
If someone decides to own two or three homes, that’s their business doing so. If they’re paying the taxes associated with those homes, then so be it.
The government should have zero say in how many properties you should be allowed to own, housing crisis or not.
Furthermore, the government should never - under any circumstance - be legislating how much property values should be. Period.
If you can’t find a house, find a place outside of London. Quit asking the government to screw someone else just so that something is convenient for you.
----------------------------------------------------------------------
People in my rural part of Wales can't get homes because people have Airbnbs etc and inflate the market. Absolutely correct something is done.
Not sure why some people find it so hard to see the point here or find it stupid. The arguments against a sensible housing market seem to be that a lot of people will be stuck with high debts.
Yes this is true but what's the point in adding to this group?
Compounding a problem is what people are advocating because they're part of said group.
If you'd talked about house prices of today in a speculative conversation back in the 90s everyone (bar perhaps people with multiple properties) would've been outraged and rightly so.
And unless you have multiple properties then rising prices do little for you unless you decide to relocate to somewhere without such housing stress... Where eventually the inflated cash you bring will stress that market too.
I've never understood why the media think a rise in house prices is something to celebrate.
The only people who benefit are estate agents or people planning to emigrate which means the proceeds are usually taken out of the UK economy completely.
Over the last 7 years, I’ve bought 4 properties. The rent I earn on 2 of those properties is enough to pay the mortgage on both, plus the mortgage for the house I’m living in (the 4th property I bought with cash) plus pay all taxes and management fees with a lot to spare. I tried to buy another property only 2 months ago, it was a tiny apartment in a run down area with a balcony overseeing the area where all the rubbish is collected, and I was outbid by a lot, simply because there is was no rent cap on the property.
It’s impossible for someone like myself in a pretty healthy financial position to invest in any more properties because rich people are just accumulating them at unreasonable costs knowing they can charge whatever they want on rent for an immediate profit. So I can only imagine how first time buyers are going to get anywhere in this market.
There should be rent caps put on every property to prevent investors from dominating the property market. There should also be a higher tax bracket that investors have to pay after accumulating a certain amount of properties/rent, too. They are the ones that are bringing prices up and in some cases paying 25% more than the asking price, just because they can.
comment by Boris 'Inky’ Gibson (U5901)
posted 11 minutes ago
I've never understood why the media think a rise in house prices is something to celebrate.
The only people who benefit are estate agents or people planning to emigrate which means the proceeds are usually taken out of the UK economy completely.
----------------------------------------------------------------------
The banks also benefit massively. Interest repayments on loans of say £40k that get paid over 5 years are miniscule in comparison to those on loans of £300k over 25 years.
Sign in if you want to comment
A lot of talk about the energy crisis...
Page 3 of 4
posted on 26/8/22
comment by scholayScholes (U13961)
posted 8 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Thanks for giving your professional insight as to why, really helpful
posted on 26/8/22
comment by scholayScholes (U13961)
posted 21 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Cheers, your input has been invalid.
May as well close the thread.
posted on 26/8/22
comment by T-SaliBAG (U11806)
posted 5 minutes ago
comment by scholayScholes (U13961)
posted 8 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Thanks for giving your professional insight as to why, really helpful
----------------------------------------------------------------------
Why should I really add any further. As someone said to you earlier, the young folks that have gone to work, dealt with the hands their dealt with, should move automatically to negative equity?
posted on 26/8/22
comment by Boris 'Inky’ Gibson (U5901)
posted 3 minutes ago
comment by scholayScholes (U13961)
posted 21 minutes ago
I am in property and this is one of the most diabolical article I have seen here in a long time. Well done.
----------------------------------------------------------------------
Cheers, your input has been invalid.
May as well close the thread.
----------------------------------------------------------------------
The thread should've stopped at point of posting if the OP had any common sense
posted on 26/8/22
I only just got onto the thread, nobody said anything to me earlier.
posted on 26/8/22
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
posted on 26/8/22
comment by manutd1982 (U6633)
posted 23 seconds ago
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
----------------------------------------------------------------------
Yeah I'm not sure if it was old office space specifically, but I watched a TV show about it and I'm sure I read an article about it somewhere. Not sure exactly what the spaces were used for before, but seemed like quite a good setup for certain types of people
posted on 26/8/22
comment by manutd1982 (U6633)
posted 5 minutes ago
T-SaliBAG
Think I read that residential and commercial properties are built quite differently and converting them would be very costly. Would be great if it could be done but not sure if it can.
----------------------------------------------------------------------
With new rules you can convert them into flats...they are doing in London
posted on 26/8/22
That's hardly a new idea.
posted on 26/8/22
comment by T-SaliBAG (U11806)
posted 9 minutes ago
I only just got onto the thread, nobody said anything to me earlier.
----------------------------------------------------------------------
Okay I apologise.
Earlier on, Someone mentioned to the OP what he is proposing is that he worked damned hard, bought a property at £350k. What the OP is proposing is that his property should be worth circa £65,000. Tied to this I am assuming from what he wrote he took the government help to buy scheme, which is £70k.
One, why on earth would any government support this bearing in mind the amount of money they have pumped into HTB?
Two, we should support putting people in bankruptcy that decided to work hard, took sacrifices and got their homes the right way?
I repeat, it is one of the most diabolical article I have seen written here in a long long time
posted on 26/8/22
comment by Diafol Coch 77 (U2462)
posted 43 minutes ago
comment by Angus Young (U3979)
posted 7 minutes ago
comment by Rosso out here drippin’ in finesse (U17054)
posted 4 minutes ago
There are myriad problems with the UK housing market, and the Tories have done close to zero about any of them for over a decade.
It’s just yet another really critical problem that the UK public doesn’t seem arssssed to do anything about.
Here are a couple more stats to chuck into the mix:
There are close to 250,000 long-term empty residential properties in the UK, with over half a million bedrooms. If they were all to come back onto the market, not only would we be looking at an unprecedented amount of ‘new stock’ for buyers and renters to choose from, but rental and purchase prices would adjust significantly.
And one in three homes in London’s financial centre are empty, many of which have been invested in purposefully to leave empty whilst they appreciate in value as the market continues its inevitable inflation.
The British public has actively enabled the 1% to continue its self-enrichment whilst the rest pay for it.
----------------------------------------------------------------------
Out of interest, how do we know they are empty?
Feels like it's something that we should be taxing heavily but not sure how that could be confirmed.
----------------------------------------------------------------------
I'd imagine through Council Tax records. There will be an empty house reduction or premium on them in most cases.
----------------------------------------------------------------------
Yep, I think so.
The government publishes the data, and I believe it does so based on council records.
posted on 26/8/22
RE Council Tax
https://www.gov.uk/council-tax/second-homes-and-empty-properties
posted on 26/8/22
comment by TBW (U6489)
posted 3 hours, 32 minutes ago
Eat the rich?
----------------------------------------------------------------------
How do you cook them..?
posted on 26/8/22
A big problem is people financing their lives and not living to their means.
Who doesn’t have an iPhone, a laptop, a gaming PC, a car or lease/ PCP, credit cards full of purchases for holidays, clothes and other expendable items they can’t actually afford?
I learnt this 6 years ago, alongside the birth of my first child, the youth of today aren’t taught to invest and spend their money wisely.
Now onto the energy crises, there are a multitude of factors that have lead to this, Covid, Ukraine, the UK no longer stockpiling gas.
The government could write up another £10bn bill, but then we’ll be paying for that, and furlough for decades to come, eventually the chicken comes home to roost.
posted on 26/8/22
I bought my first house about 9 years ago thanks to the Tories who have done nothing. The hep to buy scheme got me on the market.
Bit of a scam once the 5 years is up, as you pay interest, but we saved up with a plan to move on year 5.
posted on 26/8/22
Comment deleted by Site Moderator
posted on 26/8/22
comment by scholayScholes (U13961)
posted 1 hour, 50 minutes ago
comment by T-SaliBAG (U11806)
posted 9 minutes ago
I only just got onto the thread, nobody said anything to me earlier.
----------------------------------------------------------------------
Okay I apologise.
Earlier on, Someone mentioned to the OP what he is proposing is that he worked damned hard, bought a property at £350k. What the OP is proposing is that his property should be worth circa £65,000. Tied to this I am assuming from what he wrote he took the government help to buy scheme, which is £70k.
One, why on earth would any government support this bearing in mind the amount of money they have pumped into HTB?
Two, we should support putting people in bankruptcy that decided to work hard, took sacrifices and got their homes the right way?
I repeat, it is one of the most diabolical article I have seen written here in a long long time
----------------------------------------------------------------------
Agreed. This is one of the most staggering things I’ve ever read. The OP lives on another planet.
posted on 26/8/22
Comment deleted by Site Moderator
posted on 26/8/22
Comment deleted by Site Moderator
posted on 26/8/22
" If they’re paying the taxes associated with those homes, then so be it."
---------
That is the problem...
You are not allowed buy more than two bog rolls in COVID times? Why? There is a shortage. Same rules apply to houses. You can't build a million houses in London
posted on 26/8/22
comment by Poolmyfinger (U12438)
posted 53 minutes ago
If someone decides to own two or three homes, that’s their business doing so. If they’re paying the taxes associated with those homes, then so be it.
The government should have zero say in how many properties you should be allowed to own, housing crisis or not.
Furthermore, the government should never - under any circumstance - be legislating how much property values should be. Period.
If you can’t find a house, find a place outside of London. Quit asking the government to screw someone else just so that something is convenient for you.
----------------------------------------------------------------------
People in my rural part of Wales can't get homes because people have Airbnbs etc and inflate the market. Absolutely correct something is done.
posted on 27/8/22
Not sure why some people find it so hard to see the point here or find it stupid. The arguments against a sensible housing market seem to be that a lot of people will be stuck with high debts.
Yes this is true but what's the point in adding to this group?
Compounding a problem is what people are advocating because they're part of said group.
If you'd talked about house prices of today in a speculative conversation back in the 90s everyone (bar perhaps people with multiple properties) would've been outraged and rightly so.
And unless you have multiple properties then rising prices do little for you unless you decide to relocate to somewhere without such housing stress... Where eventually the inflated cash you bring will stress that market too.
posted on 27/8/22
I've never understood why the media think a rise in house prices is something to celebrate.
The only people who benefit are estate agents or people planning to emigrate which means the proceeds are usually taken out of the UK economy completely.
posted on 27/8/22
Over the last 7 years, I’ve bought 4 properties. The rent I earn on 2 of those properties is enough to pay the mortgage on both, plus the mortgage for the house I’m living in (the 4th property I bought with cash) plus pay all taxes and management fees with a lot to spare. I tried to buy another property only 2 months ago, it was a tiny apartment in a run down area with a balcony overseeing the area where all the rubbish is collected, and I was outbid by a lot, simply because there is was no rent cap on the property.
It’s impossible for someone like myself in a pretty healthy financial position to invest in any more properties because rich people are just accumulating them at unreasonable costs knowing they can charge whatever they want on rent for an immediate profit. So I can only imagine how first time buyers are going to get anywhere in this market.
There should be rent caps put on every property to prevent investors from dominating the property market. There should also be a higher tax bracket that investors have to pay after accumulating a certain amount of properties/rent, too. They are the ones that are bringing prices up and in some cases paying 25% more than the asking price, just because they can.
posted on 27/8/22
comment by Boris 'Inky’ Gibson (U5901)
posted 11 minutes ago
I've never understood why the media think a rise in house prices is something to celebrate.
The only people who benefit are estate agents or people planning to emigrate which means the proceeds are usually taken out of the UK economy completely.
----------------------------------------------------------------------
The banks also benefit massively. Interest repayments on loans of say £40k that get paid over 5 years are miniscule in comparison to those on loans of £300k over 25 years.
Page 3 of 4