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BTL Aspirations crumble

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    #1

    BTL Aspirations crumble

    Apparently all these aspiring property millionaires are getting a bit distresed. It's being compared to the US Sub-prime problem. Problem is, this sector is now so big, it's gonna screw up the whole economy when it blows.

    http://www.telegraph.co.uk/money/mai...-mostviewedbox
    Tags: None
    #2
    Lots of cheap houses to buy, and high rents
    Confusion is a natural state of being

    Comment

      #3
      It's a pity that BBC debt bint no longer writes diary - it would have been interesting to see how credit crunch affected her...

      Comment

        #4
        Originally posted by Diver View Post
        Lots of cheap houses to buy, and high rents
        Not sure about that. People who will probably rush to rent would be those who lost houses to repos, doubt they would have lots of money.

        Comment

          #5
          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.

          Comment

            #6
            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.

            Comment

              #7
              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?
              The 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

                #8
                Originally posted by Bagpuss View Post
                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...

                Comment

                  #9
                  I prefer apple crumble

                  HTH
                  "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

                  Comment

                    #10
                    Originally posted by AtW View Post
                    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.

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