Originally posted by Turion
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Reply to: BTL Aspirations crumble
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Previously on "BTL Aspirations crumble"
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Originally posted by Diver View PostWell, when I retire in about 20 years, maybe things will have improved
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Originally posted by Turion View PostI'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.
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Originally posted by Diver View PostNot 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.
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Originally posted by Diver View PostBetter than any pension scheme.
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Originally posted by Turion View PostOnly 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.
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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?
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Originally posted by Bagpuss View PostIn 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?
You really need to get your old avatar...
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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?
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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.
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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.
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