havent seen that particular show, but I used to do that in blighty in the good old days when property was cheap and returns justified the investment, whether you were selling or renting out.
as mentioned earlier in this thread, i have just sold house here (perth), and was looking around to rent, astonished at how quickly rents were shooting up (can you have a bubble in rent prices?)
then on the net i came across a 6 bedroom house in a village near the wifes home town in england, for rent at one quarter of the price it would cost me to rent a 4 bed here. so we're off back to blighty for a while to check out whats happening. pehaps i will find a 55 room hotel to buy?
as an aside, the electrician who did my house is a pom, and he is doing the same - selling the house in australia to return to the uk relatively cashed up. i dont think he is the only one
Well if you do the sums, that's what rental yields need to be when you don't have negative gearing in place. It has to pay any mortgage on the place plus maintenance costs plus some profit, or there is simply no point in anyone buying it to rent out.
In reality, if we do have the massive crash down to UK income/house price ratios, there will never ever be a better time for the government to scale down and remove negative gearing. Whether they do or not, I don't care. If it stays I'll take advantage of it when I can, if it goes I'll adapt my financial plans accordingly.
But do you think the negative gearing laws that are in place will stop us having a crash? I'm inclined to think prices won't come down substantially unless they get rid of negative gearing.
Yes, I suppose negative gearing is good when everything is hunky dory but won't be of any use if things go pear shaped
Nobody in my age bracket (22-25) wants to buy a home. Too expensive, don't want the debt/commitment
http://www.irishcentral.com/news/Fo...r-one-tenth-of-boom-time-price-141164123.html
Click the link and have a look at the place...amazing what real estate is worth when no ones got any money.
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Nobody in my age bracket (22-25) wants to buy a home. Too expensive, don't want the debt/commitment
Ha ha - when I was your age back in the early 90s 95% of my friends / colleagues who were the same age said exactly the same thing and cited exactly the same reasons! There is nothing new under the sun......
I was actually wondering what the regulations are about foreigners buying property in the UK because at the moment it looks a lot more attractive than here.
The thing is, this is a business, not a house. I am actually aware of several similar hotel sales in Australia in the ski resorts - 20-50+ rooms, licensed bars, restaurant etc all included, that sold for about the same amount of money a few years ago - I know because I attended the auctions and considered purchasing them, but didn't go ahead with those plans at the time.
I was actually wondering what the regulations are about foreigners buying property in the UK because at the moment it looks a lot more attractive than here.
I can endorse that. With the idea of building a new house, I've had some agents out to give me a likely selling price on my present property and have been taken aback to find it's down around 30% or even more on prices a couple of years ago.Article here about how some areas have experienced a 40% drop in value already:
Ireland, USA, Spain, Iceland, Portugal, Italy, Greece, Belgium, UK, Egypt, China and a few others all have declining real estate markets This time its different been 80 years since the last tanking and as there is one every 75 -80 yrs it is all falling in to place as it has done for hundreds of years and will continue to do so unless we go back to the gold standard..
I was 22 when I bought my first house, with a loan of 450k to my name. I'm now 25 and am glad I did it.
My point being - don't make these assumptions.
I was 22 when I bought my first house, with a loan of 450k to my name. I'm now 25 and am glad I did it.
My point being - don't make these assumptions.
I think he meant nobody smart. And before you protest, your post indicates that you bought at the very height of the bubble in 2009 when the government propped it up with the FHOB. Observe:
See you bought it at that peak. Now, nobody smart would ever buy housing (or anything) at the peak of the bubble.
Looking at the graph, the last three major property price booms since 1950, were proceeded by retracements which lasted for several years. The retracements averages 38% (note: 38% Fib). If we apply this historical price action to the latest boom, the index will drop from the 2010 peak of around 350 pts to 284 pts.
First of all, that's a very narrow minded statement. You are selectively ignoring the mini-bubbles which retraced fully.
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