Lets Crash the Housing Market..First Time Buyers.

I'd prefer to see speculation on property becalmed - I can think of a few remedies (probably you could too) though these may need careful political midwifery.

Or would you prefer spiv speculation to remain rife?

In message , curiosity writes

This may be the case, but the volume of FTB's far exceeds the volume of BTLers. Nobody gives a monkeys if BTLers stop buying, but if FTB's stop buying, all hell breaks loose.

No it isnt

Not sure what you mean by this - market forces take care of the housing market. There are times when property is relatively cheap, then everyone jumps on the bandwagon, so property becomes relatively expensive. When this happens, some panic and jump off the bandwagon, others stay on the wagon and ride it out, others complain because they didnt get on the bandwagon.

No - i have bought 2 large houses already split into separate flats. As you say, nothing unusual, and I'm not sure what gave you that impression.

I spotted that, but still not sure how it affects anything.

As I said - I didnt split them. I funded them for several years whilst I got rid of the bad tenants, then I refurbished them to attract good tenants.

?????

In message , curiosity writes

Like what??

In message , curiosity writes

Cant have been very well made then?

any figures or just a feeling in the bones?

Yes it is, but as someone who apparently believes that "....interest rate reductions would be more sensible in order to encourage spending, and to take some of the heat out of the inflationary pressure...." you're evidently at home with inanity.

I've come to realise this will often be your problem.

Have you always been a stupid prick, or did you have to work at it?

"mogga" wrote

That's just their tough shit, isn't it? Nobody owes anybody else a house, I'm afraid.

"curiosity" wrote

Let's leave it to politicians instead. Better yet, let's go the Soviet route of abolishing private housing for non-Party members.

"Gav" wrote

Not at the moment it doesn't. In case you hadn't noticed, renting a house costs 5% of its value and renting the money to buy the house costs 5% of its value. Net margin = 0.

In message , John Redman writes

Much better than my answer

Hi,

All very interesting replys, though if not slightly offensive, which is no shock in the uk.

Yes, what I am saying is very simple, in fact too simple..

First Time Buyers, DO NOT BUY.

The problem with England is that most of us follow trends, if the name of the game was to run around in tinfoil and tie wet fish to your ears, then sadly we would all do it.

All First Time Buyers (FTB's) know its ridicoulous to buy now, but as they are all generally led by peers, it is going against the grain to hold on in there.

If ALL FTB's withheld from the market for the next 24 months, prices would tumble by at least 50%.

Ian Mihary.

In message , snipped-for-privacy@europe.com writes

Like I said - they dont need you to tell them.

MMM! Time to sell housing futures (I think that's the right way round.

cheap get out ..what specific 'remedies' do you propose?

....and I thought prices were 'crashing' which means there is no 'spiv speculation', or better still (presumably as far as you are concerned) the spivs get spanked?

why do you believe that? AIUI a large proportion of 'bottom of the chain' houses are sold to BTL's, who then rent them to your 'wannabe' FTB's who cant afford them (according to you 'there hopes where dashed' (sic). ..or something like that. So it makes very little to no difference what FTB's do.

As proof of this, we have been told for many many months, probably close to

2 years in fact, that FTB's cant afford to buy (I think you told us they couldnt afford to buy!!)...and over that period, prices certainly havent declined by 50%..in fact, they havent declined at all.

"Can I borrow your brain, I'm building an idiot?"

I suspect that a lot of FTBs who are buying may be assisted from equity withdrawal by their parents.

"John Redman" wrote in message news:dg7ck2$423$ snipped-for-privacy@newsg2.svr.pol.co.uk...

Ok I'll go along with that. But what I will say is that I know people who are still happy renting their properties, and they are buying more. Personally I don't think it is a good time to buy, but people still are buying to let and increasing their portfolios. The point I was trying to make is that the only real way to hurt BTL is to have their houses sat empty. If your just not making anything you will more than likely ride it out, assuming things will get better. But if it is actually costing you to keep the house you may well think about selling, or possibly be forced to sell.

"John Redman" wrote

Yes, but if that keeps up for 20 years, then even though income = zero, the capital gain will likely be positive. Overall return : greater than zero!

Is this an average or just local to you? I estimate my partner rents at 3%. As to the spur for BTL, there are still a few half-witted spivs game for more purchases on the expectation that "prices only ever go up" - interest only mortgages with capital appreciation as short-term target.

Not at all - I'm asking where you stand on this.

A sane stamp-duty system à la France would be a start...

Yes that's all well and good but in the meantime the economy gets knackered while we try and recover from the hallucination of an economic miracle. "No more boom and bust" .... do us all a favour Gordon and piss off.