Reply to: This might stop house prices rising

[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.

[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.

[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.

[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.

[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.

[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.

[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

[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

[shaunbhoy]

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.

You must remember alexei, in the great scheme of things on the property merry-go-round, you renting types are bottom of the food chain. You will just have to go in whatever direction your landlord decides up until the moment you find the cojones to take the plunge and join the property market in any meaningful way.

HTH

[AtW]

All we nned now is a ban on BTL loans as well.

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.

[Fred Bloggs]

I like the idea of no interest only mortgages. All we nned now is a ban on BTL loans as well. Then the property market might at last return to something like affordable, for most of the country that is about 50% below where we are today. If that happened, my kids might even be able to get a place to live.

[OwlHoot]

Don't sweat it jellyhead. Leave this sort of thing to your wifie to sort out, you stick to potnoodling in your shed.

Experimenting with highly volatile explosive chemicals

[AtW]

Remind us why are you not a millionaire like the rest of us again?

I am certainly not the kind of "millionaire" who whines about birthday party thrown for "his" kids.

[Sysman]

Yup, been telling him that for years. We all have, but he won't listen.

AtW, you property mupp, with inflation at 5% (where it will probably stay or even rise) the arithmetic totally changes.

P.S. My mortgage for a two-bed flat in South Ken is £500 per month. Remind me again, what is the monthly rental for your flat in Brum?

Come to think of it, maybe it's time I took my own advice and maxed out on a new mortgage for a larger property.

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?

[MarillionFan]

It's a choice between renting a very nice house/flat without any risks and putting your hard earned money into something worthwhile, or living in a tulipy house that you "own" hoping for rates not to go up (which they will) or that you won't be in negative equity.

Remind us why are you not a millionaire like the rest of us again?