Interest rates
10 August 2013, 06:15 PM
#181
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How am I being exploitative when it is has been our own profitable businesses that are paying the rent? For one of the businesses that is paid rent by the NHS, the cost per patient for the building of equivalent quality is lower than their other alternatives and we are in very good standing with them. For another business, it is only charged apportioned mortgage interest and is efffectively susidised. For my own housing needs I saved £200k by selling, investing in other assets then buying again compared with upsizing at the wrong time. I am not sure who I exploited there except to time a transaction. If other people want to spend and borrow at the wrong time that is their lookout, just because you miscalled it don't blame me, do something to get your *** on that barge.
I wouldn't say I miscalled anything. I've never claimed to be a property 'investor'. To be honest it wasn't until 2011 that I felt I had saved enough to be able to buy then I was ill and had a year off work studying. If I have miscalled anything it wasn't the 'market', but it was the extraordinary and unprecedented lengths the state would go to to keep the 'market' inflated, using its instruments and financial muscle to protect an owning sectional interest at the expense of others. I've been working and saving prudently for about 10 years, although a good amount of that was on low pay so didn't save loads some years. That doesn't seem to be enough in your neoliberal utopia.
Last edited by tony de wonderful; 10 August 2013 at 06:16 PM.
10 August 2013, 06:42 PM
#182
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I was talking about the property market in a general sense and what the 'gains' actually represent.
I wouldn't say I miscalled anything. I've never claimed to be a property 'investor'. To be honest it wasn't until 2011 that I felt I had saved enough to be able to buy then I was ill and had a year off work studying. If I have miscalled anything it wasn't the 'market', but it was the extraordinary and unprecedented lengths the state would go to to keep the 'market' inflated, using its instruments and financial muscle to protect an owning sectional interest at the expense of others. I've been working and saving prudently for about 10 years, although a good amount of that was on low pay so didn't save loads some years. That doesn't seem to be enough in your neoliberal utopia.
I wouldn't say I miscalled anything. I've never claimed to be a property 'investor'. To be honest it wasn't until 2011 that I felt I had saved enough to be able to buy then I was ill and had a year off work studying. If I have miscalled anything it wasn't the 'market', but it was the extraordinary and unprecedented lengths the state would go to to keep the 'market' inflated, using its instruments and financial muscle to protect an owning sectional interest at the expense of others. I've been working and saving prudently for about 10 years, although a good amount of that was on low pay so didn't save loads some years. That doesn't seem to be enough in your neoliberal utopia.
Quite right too! You should have worked harder rather than buggering off to study some nonsense like Sociology.
10 August 2013, 06:46 PM
#183
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Property carries an element of luck; the inlaws have made a net fortune, my parents have swung from enormous returns to losses. Overall they haven't made a lot but I can say with confidence that very few people do up a house to a higher standard than my Dad.
10 August 2013, 07:06 PM
#184
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When I was at skool people took sociology for A level only because it had the shortest syllabus of any subject available
Didn't even know it was possible to get a degree in it
Didn't even know it was possible to get a degree in it
10 August 2013, 07:28 PM
#185
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Surly everyone who has piled into BTL to be protected by the state is an investment genius surpassing Warren Buffet?!
10 August 2013, 08:23 PM
#186
Only if you believe that it's only an exploitative, cynical and indefensible way to make a living that does nothing more than to turn this country into a "quasi-feudal society where a few are licensed to parasitically live off the sweat of the precarious rest." You fuel it by choosing to rent, if you feel so strongly against it, well then don't do it, no one is forcing you to sign the tenancy agreement.
10 August 2013, 08:34 PM
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Only if you believe that it's only an exploitative, cynical and indefensible way to make a living that does nothing more than to turn this country into a "quasi-feudal society where a few are licensed to parasitically live off the sweat of the precarious rest." You fuel it by choosing to rent, if you feel so strongly against it, well then don't do it, no one is forcing you to sign the tenancy agreement.
10 August 2013, 08:47 PM
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10 August 2013, 08:50 PM
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Well you have a good deal. Anyway even if you don't accept that renting id inherently exploitative then perhaps we can agree that a speculative property bubble which serves to raise rents is? I can't think of a single social good that is caused by a speculative bubble raising rents. To top it off the state is promoting it. The people renting see no benefit just less money in their pockets.
10 August 2013, 08:52 PM
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10 August 2013, 09:14 PM
#193
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Besides if everyone did that it would only make prices higher.
Shelter is a need I am afraid, or at least basic shelter. This is how property owners make their money.
10 August 2013, 09:18 PM
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I have a few friends who are landlords and none of them deliberately 'bought to let', they either inherited an extra property or they have gone through marriage break-ups and then got with a new partner and kept their old house on.
We are actually in a situation at the minute where a family member has died and left a house, it's been up for sale for a year at £69k (three-bed semi) with not a sniff of interest.
Part of the problem, in my opinion, is that people cannot afford what they think they deserve. I deal with pensioners on a weekly basis and most of them started out in one-bed flats and worked their way up the ladder gradually. Of course in those days they weren't paying out for iphones and Subarus and they didn't expect their rooms to look like a page from the Next catalogue...
We are actually in a situation at the minute where a family member has died and left a house, it's been up for sale for a year at £69k (three-bed semi) with not a sniff of interest.
Part of the problem, in my opinion, is that people cannot afford what they think they deserve. I deal with pensioners on a weekly basis and most of them started out in one-bed flats and worked their way up the ladder gradually. Of course in those days they weren't paying out for iphones and Subarus and they didn't expect their rooms to look like a page from the Next catalogue...
10 August 2013, 09:18 PM
#195
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Hey we do own a home outright. It's a VW California camper with sleeping for four, a kitchen and a sort of living room.
errmmmm, that doesn't really count does it?
errmmmm, that doesn't really count does it?
Last edited by Matteeboy; 10 August 2013 at 09:19 PM.
10 August 2013, 09:39 PM
#196
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IMO, when every single person on this beautiful planet of ours is born they are entitled to nothing and everything at the same time
10 August 2013, 09:45 PM
#197
The benefit of this though is not always so one sided as you make out, well at the very least from my experience. Renting gave me the benefit to be socially and economically mobile early on in my working life.
10 August 2013, 09:58 PM
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11 August 2013, 08:21 AM
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I have a few friends who are landlords and none of them deliberately 'bought to let', they either inherited an extra property or they have gone through marriage break-ups and then got with a new partner and kept their old house on.
We are actually in a situation at the minute where a family member has died and left a house, it's been up for sale for a year at £69k (three-bed semi) with not a sniff of interest.
Part of the problem, in my opinion, is that people cannot afford what they think they deserve. I deal with pensioners on a weekly basis and most of them started out in one-bed flats and worked their way up the ladder gradually. Of course in those days they weren't paying out for iphones and Subarus and they didn't expect their rooms to look like a page from the Next catalogue...
We are actually in a situation at the minute where a family member has died and left a house, it's been up for sale for a year at £69k (three-bed semi) with not a sniff of interest.
Part of the problem, in my opinion, is that people cannot afford what they think they deserve. I deal with pensioners on a weekly basis and most of them started out in one-bed flats and worked their way up the ladder gradually. Of course in those days they weren't paying out for iphones and Subarus and they didn't expect their rooms to look like a page from the Next catalogue...
Your second paragraph is completely correct.
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