This might stop house prices rising

[amcdonald]

You'll be rather upset if the mortgage rate rises to 15/16%.

"It'll never happen" you might say, but it happened 20 and 30 years ago.

"No more boom and bust" ring a bell?

But what could possibly go wrong with Gordon Brown at the IMF to bail us out

[Sysman]

But what could possibly go wrong with Gordon Brown at the IMF to bail us out

Yeah, I spotted that resurfacing earlier today.

Fortunately the fly in the ointment seems to be that his own country needs to nominate him first, and so far (phew) that isn't happening

[Sysman]

Nah, no need for a ban - proper checks of income yes and also much more tenant friendly legislation - basically none of this boll0x of having landlords with all the power and short term tenancies, basically nobody should be able to start offering rent-like services unless they are committed to long term business model.

Ah now, Alexei, I saw things before these short term tenancies came in.

I didn't rent my own house out in the early 1980s, despite the 15% mortgage plus poxy endowment policy, because tenants rights were so strong that:

1. I probably could not have charged enough rent to cover the mortgage plus endowment plus insurance.
2. I would not be able to put the rent up with inflation.
3. I would not be able to move back into my own house without declaring myself homeless and going through the courts to prove that.
4. fear of squatters who wouldn't have paid me a penny - apparently they were bombproof as long as they paid the rates and fuel bills

Yeah, I could have rented it out and used thugs for evictions, but we'll never know because I didn't.

[Lockhouse]

And what you paid is what you paid, where as AtW's rent will rise with inflation, year after year after year.

In 10 years a family hatchback will cost more than you paid.

Wise words mate. (c) Smashy & Nicey.

Plus all being well I'll be returning to the BTL market by Xmas.

[DimPrawn]

April 2011 | Rightmove Property News

As property supply is increasingly outstripping demand, this month’s jump in new sellers’ average asking prices of 1.7% (£4,032) looks misplaced. London remains the exception as buyer demand pushes asking prices to a new record of £431,013


Yep, we've reached an all time London asking price for property, exceeding any boom prices before the so called "recession", you know the one, where bankers became richer than ever.

One Hyde Park flat breaks record by selling for £136m | Metro.co.uk

17th April, 2011

A penthouse at the One Hyde Park development in London has become the UK's most-expensive flat by selling for £136 million.




Property, goes up in the boom, really goes up in a so called recession.

Win-win all the time.

[Sysman]

One Hyde Park flat breaks record by selling for £136m | Metro.co.uk

17th April, 2011

A penthouse at the One Hyde Park development in London has become the UK's most-expensive flat by selling for £136 million.

Someone has clearly got more money than sense.

[lukemg]

We don’t need another house price crash, too disruptive to the wider economy and likely to tip us all over the edge with it !
No doubt that prices are still too high but a nice soft landing with prices going more or less sideways while inflation takes small bites and wages catch up is the best all-round.

[DimPrawn]

We don’t need another house price crash, too disruptive to the wider economy and likely to tip us all over the edge with it !
No doubt that prices are still too high but a nice soft landing with prices going more or less sideways while inflation takes small bites and wages catch up is the best all-round.

This is the view of the BoE.

It's clear the BoE don't really monitor inflation, merely house price inflation.

As long as house prices aren't rising it matters not if general inflation is 200%, they'll still keep interest rates at zero and print money.

Too many vested interests in government with big property portfolios raking it in.