The thing in this country that will keep house prices up, is as soon as there is a hint that the market is softening, then the supply of houses on the market subdues, instead you only have houses from people who NEED to sell (distressed sales, moving out of the area) rather than who WANT to sell. As a result, that supply/demand equilibrium is maintained.
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Originally posted by chopper View PostThe thing in this country that will keep house prices up, is as soon as there is a hint that the market is softening, then the supply of houses on the market subdues, instead you only have houses from people who NEED to sell (distressed sales, moving out of the area) rather than who WANT to sell. As a result, that supply/demand equilibrium is maintained.
An interest rate rise should do the trick....Comment
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Originally posted by BrilloPad View PostTrue. We need way more forced sales.
An interest rate rise should do the trick....
Interest rate rises affect everyone on the property ladder who has a mortgage. Taxing those with multiple properties or ones which stay empty “as an investment” only affects the wealthier few.…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostInterest rate rise, tax on second/empty properties.
Interest rate rises affect everyone on the property ladder who has a mortgage. Taxing those with multiple properties or ones which stay empty “as an investment” only affects the wealthier few.
Fooking ****** landlords, buying cheap in the 90s and getting rich doing nothingHard Brexit now!
#prayfornodealComment
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Originally posted by sasguru View PostNow that I've sold my two BTLs, I completely agree with you
Fooking ****** landlords, buying cheap in the 90s and getting rich doing nothingOriginally posted by Old GregI admit I'm just a lazy, lying cretinous hypocrite and must be going deaf♕Keep calm & carry on♕Comment
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Originally posted by WTFH View PostInterest rate rise, tax on second/empty properties.
Interest rate rises affect everyone on the property ladder who has a mortgage. Taxing those with multiple properties or ones which stay empty “as an investment” only affects the wealthier few.
I like the idea of an empty property tax.
One that ramps up predictably over a period of months/years so those doing renovations or have genuine reasons for leaving a property temporarily empty (other than for investment) can predict the cost and budget for it.
Eventually the unpaid tax on properties where the owners are abroad or otherwise untraceable will allow the authorities to seize the property to pay off the tax.
In the meantime it will pay for new housing so the government can reduce the amount of housing benefit it pays out by owning the properties, like they did with council houses before they decided to sell them off cheaply.Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.Comment
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Originally posted by chopper View PostThe thing in this country that will keep house prices up, is as soon as there is a hint that the market is softening, then the supply of houses on the market subdues, instead you only have houses from people who NEED to sell (distressed sales, moving out of the area) rather than who WANT to sell. As a result, that supply/demand equilibrium is maintained.Comment
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Originally posted by sal View PostYou forgot to add a very important group of people that will NEED to sell - the ones that can't afford the subprime mortgage, once the inevitable rate rise arrives.
Not in my lifetime.Comment
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Originally posted by sasguru View PostNow that I've sold my two BTLs, I completely agree with you
Fooking ****** landlords, buying cheap in the 90s and getting rich doing nothing
I'm not sure I even believe you had an old Aygo, think that might be aspirational dreaming too.Comment
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Originally posted by DimPrawn View PostYes of course, you bought your BTL in the 90's that's right.
I'm not sure I even believe you had an old Aygo, think that might be aspirational dreaming too.
http://forums.contractoruk.com/gener...ml#post1089125
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