I'm probably going to regret asking but I've got a BLT in East London that's doubled in value over 6 years. Do I take the money now and buy a nicer house for myself or leave where it is?
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...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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the metro are suggesting a 40% increase in 5 yrs. Another report shows a 20% drop in the near future. Who knows?Originally posted by Lockhouse
Depends if you want to keep it for another 15-20 yrs or more as part of your retirement or your thinking of selling in the next 5 yrs.
Also depends if you've got a small house and have kids or you're thinking about having kids so will need the extra space. -
The whole process should be neutral (I've not forgotten about CGT etc) as the money will still be in property - only in my own house rather than a BTL....my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...
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Simple logic:
Small island + overcrowding + suitable land to build on being at a premium = cash... forever.
Blips? Of course, but, unless the Plague hits town again, safe as...Comment
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Ever heard of Economic cycles?Originally posted by richard-afThe court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Hard Brexit now!
#prayfornodealComment
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Yes. And hanging on when the cycle is in a down phase is the way. Unless you've been a dolt, and gone for initially miniscule interest rates, with some sort of index-linked component. Then you're screwed.Originally posted by BagpussComment
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All bubbles burst eventually, there is no logic that will justify the market continuing. Of course the reason that bubbles get too big is that everyone believes that "this time its different". The US bubble has burst, so has the Irish and now the US. Japan is more densely populated than the UK, and the housing shortage is so severe, there are University graduates kipping out in Internet Cafe's. In spite of that the bubble remains firmly burst. Have no doubt the bubble will also burst in the UK, the only question is when.
I'm alright JackComment
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The National Housing Federation (NHF) warned prices were now almost 11 times the average wage and may rise by 40% as supplies fall further behind demand.Originally posted by sasguru
To avoid a looming crisis the NHF urged the government to act on its promise to build three million homes by 2020.
So we have an org that represents house builders and they say the only solution is to build millions more houses. Hmmm, not very impartial is it?Comment
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Look at it as an investor. You bought the property at a great time, when prices were low and hence yields were high. People buying now are getting yields of 4 or 5%, whereas you're probably getting closer to 8%.
If you sold the property, would you be able to use the proceeds to achieve a stable 8% return anywhere else? Yes prices might fall a little in the near term, but long term prices will rise and in the meantime you've got a great yield.Comment
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