Reply to: BTL Aspirations crumble

[Francko]

My portfolio is globally diverse so the higher risk will allow me to go bankrupt and turn homeless in 10 years

Your Government

[Turion]

Well, when I retire in about 20 years, maybe things will have improved

Blimey, 20 years to retirement And you say that you have grandchildren, so you you're no spring chicken either. Property might average a 5% return over that time, so yes, it might have improved, but no better than cash. My portfolio is globally diverse so the higher returns will allow me to retire in 10 years

[Francko]

Well, when I retire in about 30 years, maybe things will have improved

Your Government

[Diver]

I've heard a lot of people say 'my house is my pension'. Well I'm afraid that cash machine is broke. Actually it's worse than that, and it won't be fixed any time soon, as it's now gone into reverse. Expect inflated expectations to become very deflated in the coming years.

Well, when I retire in about 20 years, maybe things will have improved

[Turion]

Not when paying cash. The long term investment and profit from rentals is far greater than any savings account. soon it will be the time for those with savings to invest a couple of hundred thou in cheap properties. Better than any pension scheme.

I've heard a lot of people say 'my house is my pension'. Well I'm afraid that cash machine is broke. Actually it's worse than that, and it won't be fixed any time soon, as it's now gone into reverse. Expect inflated expectations to become very deflated in the coming years.

[AtW]

Better than any pension scheme.

It all depends on taxation. In this country Govt makes quick retrospective decisions that as far as I am concerned give very little confidence for long term projects that can't be liquidated very quickly and without major losses.

[Diver]

Only for those with strong cash positions. The cheap BTL mortgage will be a thing of the past by then (actually happening now). Your current YTV % on your properties is now lower than cash deposit, so can't see you accumulating much cash in that time. Any investment advisor would be telling you to reduce exposure to property. But you don't need advice do you.

Not when paying cash. The long term investment and profit from rentals is far greater than any savings account. soon it will be the time for those with savings to invest a couple of hundred thou in cheap properties. Better than any pension scheme.

[AtW]

Shome exaggerashion more like. That Vista development is in Woolwich. Central London my

Microsoft, Redmond.

[thunderlizard]

At the Vista development in central London, one flat which was bought for £250,000 in 2005 was put up for sale at £175,000. It got no takers. No one was interested, either, when the price was cut to £150,000, and the property remains unsold.

In London? Shurely Shome Mishstake?

Shome exaggerashion more like. That Vista development is in Woolwich. Central London my

[Turion]

That "flat" must have been size of a cupboard...

You really need to get your old avatar...

I think it was a broom cupboard, but an agent mistook it for a cozy studio.

[Jog On]

I prefer apple crumble

HTH

[AtW]

In almost every city centre, you can see buildings festooned with "For Sale" signs. At the Vista development in central London, one flat which was bought for £250,000 in 2005 was put up for sale at £175,000. It got no takers. No one was interested, either, when the price was cut to £150,000, and the property remains unsold.

In London? Shurely Shome Mishstake?

That "flat" must have been size of a cupboard...

You really need to get your old avatar...

[Bagpuss]

In almost every city centre, you can see buildings festooned with "For Sale" signs. At the Vista development in central London, one flat which was bought for £250,000 in 2005 was put up for sale at £175,000. It got no takers. No one was interested, either, when the price was cut to £150,000, and the property remains unsold.

In London? Shurely Shome Mishstake?

[KentPhilip]

Excellent. With no property and a large cash and foreign currency portfolio I look forward to buying several flats outright after the crash.

But there's going to be a lot of pain in the UK in the meantime.

[Turion]

Only for those with strong cash positions. The cheap BTL mortgage will be a thing of the past by then (actually happening now). Your current YTV % on your properties is now lower than cash deposit, so can't see you accumulating much cash in that time. Any investment advisor would be telling you to reduce exposure to property. But you don't need advice do you.