12-10-2018, 11:55 PM
11
Re: No Rest for Mum and Dad
Originally Posted by BoxerBoy
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There are numerous facets involved in housing our population, however the most obvious problem seems to me to be immigration.How can one possibly think it is sensible to allow additional people into the country, all of whom will require housing, when the existing housing market cannot satisfy the needs of those already here.
Surely before allowing immigrants in, there should be a housing surplus across the various property types.
12-10-2018, 11:59 PM
12
Re: No Rest for Mum and Dad
Originally Posted by AnnieS
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There are new tax laws which mean that you cannot reduce your rental profits with your mortgage interest. Comes into full effect in 2019 I believe. It's been phased in. The alternative of trading as a company has I believe capital gains disadvantages and is also complex to manage. It's basically lose:lose compared to the gravy train before. So we are likely to see property prices depressed as landlords offload in a buyers market. This should create a glut of properties and a depression in house prices. Not a good time to sell. Not the best time to buy.
If there are so many people needing houses how can here be a glut ?
13-10-2018, 06:25 AM
13
Re: No Rest for Mum and Dad
Well I dunno maybe I live in a different world to you lot but all the young people I know are in their own homes. It's not changed I remember saving up for a deposit for our first home it was hard but we did it and you appreciate things you struggle to get.
13-10-2018, 06:34 AM
14
Re: No Rest for Mum and Dad
Originally Posted by Muddy
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What about the law of supply and demand ?If there are so many people needing houses how can here be a glut ?
13-10-2018, 06:42 AM
15
Re: No Rest for Mum and Dad
Originally Posted by summer
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Well I dunno maybe I live in a different world to you lot but all the young people I know are in their own homes. It's not changed I remember saving up for a deposit for our first home it was hard but we did it and you appreciate things you struggle to get.
https://www.thisismoney.co.uk/money/...mortgages.html
13-10-2018, 07:15 AM
16
Re: No Rest for Mum and Dad
Originally Posted by AnnieS
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If house prices plummet a lot of these young people will be in negative equity. If they have an interest only mortgage then that relies on prices always appreciating. There is an interest only time bomb. Lenders should never have been allowed to sell such mortgages. https://www.thisismoney.co.uk/money/...mortgages.html
13-10-2018, 07:27 AM
17
Re: No Rest for Mum and Dad
Originally Posted by summer
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That's possible...but it's always been a risk and none of us has a crystal ball. Buying a house should not be an investment it's a roof over your head and mortgage prices will fluctuate as do rents
Spot on summer, we think of houses as an Investment, when they are a place to live.
Your own roof over your head, not wasting money on rent and nobody can throw you out,
I love my new place, small, but not too small, a lovely garden and somewhere to leave to my son, who, with his epilepsy, has had his earning abilities greatly reduced.
13-10-2018, 07:49 AM
18
Re: No Rest for Mum and Dad
Originally Posted by TessA
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It always makes me laugh when May says they're building "affordable homes" they're only affordable for buy to let landlords. You'd be lucky to get a bedroom in a shared house for less than £350 pm these days, how is any young person supposed to save a deposit?
Apartments must be pretty cheap where you live, try tripling that figure here and you might, just might manage to get a settee to sleep on in a shared house if you're very, very lucky.
13-10-2018, 09:53 AM
19
Re: No Rest for Mum and Dad
Originally Posted by summer
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That's possible...but it's always been a risk and none of us has a crystal ball. Buying a house should not be an investment it's a roof over your head and mortgage prices will fluctuate as do rents
If house prices plummet again we will have countless young people caught in this sort of mess. The government should have phased the interest changes over a far longer period rather than only three years.
13-10-2018, 03:04 PM
20
Re: No Rest for Mum and Dad
Originally Posted by Uncle Joe
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Apartments must be pretty cheap where you live, try tripling that figure here and you might, just might manage to get a settee to sleep on in a shared house if you're very, very lucky.
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