Originally posted by vetran
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FAO BTL owners Jenrick has just sold you down the river
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Originally posted by ChimpMaster View PostIf negative rates ever became a reality then we would all be screwed, beyond your level of comprehension.Down with racism. Long live miscegenation!Comment
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Originally posted by NotAllThere View PostWhat like Switzerland, Denmark and Japan?
UK could possibly pull off negative interest rates for the same reasons those countries you listed can. I'd welcome negative / near zero interest rates for my Ltd. BTL portfolio. Even on a personal level, those with savings in assets would likely benefit - the bottom rung of society maybe not so much.Comment
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It is only a matter of time before maintenance of large developments is interrupted. Some of the shoddy housing stock banged up the the 90s turds will start falling through ceilings after a few months. I think there is a real possibility of certain areas going south very quickly and turning into 1970s New York style crime ridden tulip holes.Comment
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Originally posted by TheGreenBastard View PostNegative interest rates are mostly an economic tool to keep exports competitive .
For example, landlords are still making good money even if the tenants aren't paying any rent. This is because mortgage rates are less than inflation. As long as this difference is enough to cover the maintenance the landlord is still making money (on top of the thousands he's made from the stamp duty cut).
More importantly for the people making the decisions, if low interest rates generate inflation then it's a huge transfer from our savings to them. They have generously given themselves index linked pensions etc.Comment
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I live a 15 min walk from Canary Wharf about 100K houses have sprung up in last few years
Studio, 1 and 2 beds for £450-700K rented out at £1800-3K per month as people liked working close to work.
Now, lots of these renters have no job to go back to
Now, majority are looking to escape London and work remotely
One young chap in our (remote office) was paying £1000 for a flat share in London, with 3 other sharers
He went back up north and not his own place with nice sun terrace
His other shares have done runners as has no income for 6 months
London rental market is going to crash
Good I say !!
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Originally posted by Old Greg View PostRisk of business. They happily turn a profit in the good times... and we've all seen the Q2 GDP figures.
This was in 2018 so it was good times.
Do you know how housing associations work? They charge needy people about half of private rental cost, they also build houses so they can either rent or sell them.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by hugebrain View PostNot really. They are a tool to take money from people that have worked for it and give it to people that haven't.
For example, landlords are still making good money even if the tenants aren't paying any rent. This is because mortgage rates are less than inflation. As long as this difference is enough to cover the maintenance the landlord is still making money (on top of the thousands he's made from the stamp duty cut).
More importantly for the people making the decisions, if low interest rates generate inflation then it's a huge transfer from our savings to them. They have generously given themselves index linked pensions etc.Comment
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Originally posted by TheGreenBastard View PostSo Denmark, Swiss and Japan have negative interest rates to transfer money from the working class to the rich?Down with racism. Long live miscegenation!Comment
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Originally posted by TheGreenBastard View PostSo Denmark, Swiss and Japan have negative interest rates to transfer money from the working class to the rich?
In the UK, they print billions of pounds to subsidise meals at McDonalds. The purpose is not just to fatten up the chavs and get coronavirus to kill them more easily. The main idea is to devalue the pound so the landlords don’t have to pay back the money they borrowed. Win win from the MPs point of view.Comment
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