scruffian
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Posts posted by scruffian
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The number of people is increasing at NET ~200,000 per year according to latest figures.
The NET number of new properties is way way less. (Estimates say we need 250,000 per year for 20 years, including all the ones we are losing each year).
Ok so demand is exceeding supply. Doesn't that just help to keep property in the hands of the rich and unattainable for everyone else?
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For existing property owners, who can sell property they already own, to buy a new one-
your comment makes some sense.
But not for FTBers
But does the market need FTBers? If the number of houses is not increasing and the number of people are not increasing then there is no need for FTBers at all. When people die their house goes to their family. Those who own continue to do so, those who don't can't. I don't think we are there yet, but isn't this a possible scenario at some point?
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CHEAP PROPERTY?
UK property may look cheap relative to gold, but it looks expensive relative to income.
So unless your income is in Gold, property owners still have a problem
This got me thinking... In the UK, with a more or less stable population, an ageing population, and likewise a relatively stable number of properties, won't we see an increasing number of people who own their property outright? In this scenario isn't the value of a house only important relative to it's desirability to other house owners, not their ability to pay that value based on their income?
Doesn't this mean that the value of property becomes detached from earnings? Maybe I am missing something...
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Now based on the average value of the properties bought instead of the total amount. Minimum 1%
For Example:
A landlord buying five properties valued at £200,000 each would currently face a tax bill of five percent i.e. £50,000.
Being able to choose to pay SDLT in relation to the average property value means that the one percent rate applies, and therefore the final bill is reduced to £10,000.
yet another example of tax breaks for the wealthy...
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What if that multi-million pound house has one old lady living in it about 70 and then the poxy terrace house has about 10 people living in it which include a few children going to school.
Who is using more of the services being provided by the local council?
No doubt about it,any fairer council tax would take account of amount of people in the residence.
That's true, but tax isn't designed to be fair is it? I mean if we all paid tax equivalent to the services we use then there would be no need for tax.
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The Chancellor pledged to continue the work, dropping hints that he will use next week's Budget to unveil reforms of the planning system to speed up applications and allow more green-belt development...
There was more on this in The Times. Essentially he seems to be arguing that the planning system needs to be relaxed in order to support the failing housing market. Seems like a backwards argument, but if it makes it easier for me to build my own house then I don't care.
The article in The Times also mentioned removing the planning process from the process of converting business premises into residential, as well as other thing. Be interesting to see what it amounts to, but as far as I can tell, more houses means lower prices!
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Sudden slump in mortgage lending, lenders reveal:
http://www.bbc.co.uk/news/business-12710836
[sorry, i've been lurking...]
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The other day I read a good post at goldismoney about how to hide stuff at home from burglars. It was a longish post which was an accumulation of research, some from conversations with an ex-burglar. I'll see if I can find the thread again and post it here.
Some main points which I remember: burglars want to get in and out quickly. He said on average they are in the premises for 8 minutes. So they want something of value quickly. So if they find something good in the more obvious places and suspect on the style of place that there's probably not much more to be found, they would likely be content and leave.
Failing that, they work through (and mess up) the less likely places. So split it and maybe leave a couple of hundred in a more obvious place (desk drawer or something, but not too openly obvious as these guys know what they're doing.)
I was thinking about posting about this the other day and regret that I did not.
UK House prices: News & Views
in NEWS Commentary, 2021 & Beyond
Posted
That makes sense. Can see this situation draggin on for a long time...