modular homes

[Smiffy]

It all only works at zero interest rates.

UK bond yields are rising and only a hour ago hit a high for the year. Which by extension means the last twenty years! Mortgage rates will follow almost instantly. If pension funds can lock money away for ten years in a UK bond at 3.9%, then the mortgage rate has to be higher than that plus the banks margin. Higher interest rates mean that people are forced to bid much, much less for houses.

Buy to let is interesting in that it’s a commercial loan. A bank can recall those at any point. It was a major error of judgement by the Major government in enacting legislation to allow an individual to dabble in commercial real estate directly, not inside the wrapper of an ETF or a proper company. People’s life chances have been thrown under the bus by the retards you refer to, with scant oversight in the form of legislation to protect them. How can you start a family with the threat of a landlord kicking you out in six months?

Take the recent abolition of section 21. The next logical step for a Labour government is extended secure tenancies- perhaps even indefinite tenancies. Banks are currently only happy to extend a commercial loan to a retard because they know that should the retard go bust, they only need to wait six months before kicking the tenant out and repossessing the property. What’s going to happen after s21 is abolished, let alone a new government introduces extended tenancies? That’s right, they won’t lend to BTL. Already BTL interest rates are touching 8%, and the entitled pricks are still expecting the rent to cover the interest on their over-leveraged position as the value of the house drops. Plus profit! A rude awakening is coming.

Things can change, and as we’ve seen recently, change quickly. This is change being driven- landlords are being forced to leave the sector. It’s in the best interests of a healthy society. The danger now is that vested interests will lobby against reforms.

Thankfully, the time always comes to pay the piper, and the rises in interest rates will do most of the work. Another round of printing and we’re back to scenario A- riots on the streets.

Anyone care to guess the interest rate of Argentina currently? 5%? 10%? 15%???

No. It’s 97%. As in, inflation is so bad that if you don’t spend your wages the day you receive them, they are worthless.

The problem runs far deeper than just BTL though. The gouvenment failed to keep up their housing stock as some where sold up and supply being outstripped by demand. This wouldn't be a problem if they hadn't started it in the first place but because they did it bought about the current culture that starting a family is a right and a lot of people have the thought that they can start a family before they are in a secure position.
If none of this happened then BTL wouldn't have got of the ground.

Another point to add is that there is an awfully lot of foreign capital invested in rental and if the Government make it unappealing to them then we risk them dumping property onto the market.

If property prices do go down though our whole economy will go down the pan. And all the politicians friends will loose money so we can't let that happen.

The only way for anything to improve is house prices to stagnate whilst wages rise. But for this to happen the country as a whole has to start producing something. Which we haven't done in a long time.

 

[Vinpetrol]

It all only works at zero interest rates.

UK bond yields are rising and only a hour ago hit a high for the year. Which by extension means the last twenty years! Mortgage rates will follow almost instantly. If pension funds can lock money away for ten years in a UK bond at 3.9%, then the mortgage rate has to be higher than that plus the banks margin. Higher interest rates mean that people are forced to bid much, much less for houses.

Buy to let is interesting in that it’s a commercial loan. A bank can recall those at any point. It was a major error of judgement by the Major government in enacting legislation to allow an individual to dabble in commercial real estate directly, not inside the wrapper of an ETF or a proper company. People’s life chances have been thrown under the bus by the retards you refer to, with scant oversight in the form of legislation to protect them. How can you start a family with the threat of a landlord kicking you out in six months?

Take the recent abolition of section 21. The next logical step for a Labour government is extended secure tenancies- perhaps even indefinite tenancies. Banks are currently only happy to extend a commercial loan to a retard because they know that should the retard go bust, they only need to wait six months before kicking the tenant out and repossessing the property. What’s going to happen after s21 is abolished, let alone a new government introduces extended tenancies? That’s right, they won’t lend to BTL. Already BTL interest rates are touching 8%, and the entitled pricks are still expecting the rent to cover the interest on their over-leveraged position as the value of the house drops. Plus profit! A rude awakening is coming.

Things can change, and as we’ve seen recently, change quickly. This is change being driven- landlords are being forced to leave the sector. It’s in the best interests of a healthy society. The danger now is that vested interests will lobby against reforms.

Thankfully, the time always comes to pay the piper, and the rises in interest rates will do most of the work. Another round of printing and we’re back to scenario A- riots on the streets.

Anyone care to guess the interest rate of Argentina currently? 5%? 10%? 15%???

No. It’s 97%. As in, inflation is so bad that if you don’t spend your wages the day you receive them, they are worthless.

That’s a really good insight into the BTL market and actually would be no bad thing if it does collapse . You even see it on the property programs on tv with these BTL landlords buying up housing stock at auctions to add to their “ portfolio” whilst the whole thing is a house of cards . The investments are all geared up for immediate return on the rental income , so actually paying off the property so they can charge realistic rents rather than having to make their profit on top of the mortgage payment is not a high priority.

 

[doobin]

The problem runs far deeper than just BTL though. The gouvenment failed to keep up their housing stock as some where sold up and supply being outstripped by demand. This wouldn't be a problem if they hadn't started it in the first place but because they did it bought about the current culture that starting a family is a right and a lot of people have the thought that they can start a family before they are in a secure position.
If none of this happened then BTL wouldn't have got of the ground.

Plenty of people start a family without being in a secure position- the scummiest get housed by the council. It’s people like you and me who are being s**t on mate.

Another point to add is that there is an awfully lot of foreign capital invested in rental and if the Government make it unappealing to them then we risk them dumping property onto the market.

If property prices do go down though our whole economy will go down the pan. And all the politicians friends will loose money so we can't let that happen.

Like I said, vested interests. Swimming against the tide in the face of economic reality though, unless the government are willing to risk becoming the example I gave (Argentina currently) and the blood on the streets that will inevitably follow.

 

[pettsy]

Trouble is, all these people in rented properties living life on “I can afford the finance repayments for flash car/rent/phone etc monthly” aren’t interested in saving up and waiting to buy things. When the current landlords decide to get out, there’s going to be a load of people out on their backside with no hope of being able to mortgage the house they’ve been renting!

 

[doobin]

Trouble is, all these people in rented properties living life on “I can afford the finance repayments for flash car/rent/phone etc monthly” aren’t interested in saving up and waiting to buy things. When the current landlords decide to get out, there’s going to be a load of people out on their backside with no hope of being able to mortgage the house they’ve been renting!

You got it wrong mate. It’s those in new builds who have it all on the never never. Find me a new build without a his n hers German executive car and Range Rover sport outside?

The only examples you give are flash car, rent and phone. Rent and phone are necessities of modern life. Flash cars don’t tend to be the preserve of those renting.

The point is, zero interest rates have driven up the rise of basic shelter (whether renting or buying) far faster and further than peol can keep up with. Can you blame them for treating themselves to the odd Starbucks when they now need to earn (regardless of the fact that they are simply not capable of doing so) over 100k to have the same standard of life as a retired postman from the seventies in his ex council cottage with a BTL property or two? There is real anger out there, and this is what will drive change

Even Starmer has noticed, although he’s not yet got to the root cause (negative interest rates) But he’s putting the message out there, whether he actually believes it or not. And the disenfranchised will vote for him.

House prices need to fall relative to income, Keir Starmer says

Labour leader accuses Conservative government of killing the dream of home ownership

www.theguardian.com

Basically, you are dismissing it all by saying those who rent are feckless. There have always been feckless in society, previously we gave them a broom and a council house. But now home ownership is ALL about when you bought, or how well off your parents are. Even those who crow about how they worked hard and bought with no help are being s**t on without realising- they fail to realise how much of a better house their hard work would have bought back when multiples were sensible.

This is the bit where you say- start off with a one bedroom flat and upgrade. Guess what- that only works at the start of the Ponzi scheme. We are near the end.

All I want is for the youth of today to have similar chances to those of the past. A shiny phone simply doesn’t cut it when basic needs such as shelter are unobtainable. Government policy of the last twenty years has totally fked this country. Zero interest rates and immigration to bring in ever cheaper workers to serve us our tat is simply n a ponzi scheme.

But the real issue as others have mentioned, is that we don’t produce anything. Our GDP can be as high as we like- all the time we don’t export, the trade deficit rises and this makes us a poorer country compared to others. China understands this.

 

[Grahams]

The trouble with the buy to let market collapsing is how do normal people manage to rent somewhere to live? Lack of supply has pushed up rents and very few normal can get a council/housing association house. Most people I know went into rented when they left their parents home. Some are still renting others moved on to buy but that is extremely difficult now.

 

[Smiffy]

Plenty of people start a family without being in a secure position- the scummiest get housed by the council. It’s people like you and me who are being s**t on mate.

And no matter what happens it will be us who end up worse off!!
The idea of a capitalist society is to reward hard work but we have a ridiculous situation whereby hard work is punished. Yet we still have the left harping on wanting a more socialist setup.
I don't think we are alone either. Newzealand Canada much of Europe and Scandinavia seem to be in similar positions.

 

[doobin]

The trouble with the buy to let market collapsing is how do normal people manage to rent somewhere to live? Lack of supply has pushed up rents and very few normal can get a council/housing association house. Most people I know went into rented when they left their parents home. Some are still renting others moved on to buy but that is extremely difficult now.

After a period of turmoil, the ideal would be that house prices return to a sensible multiple of income and normal people buy a small house to start a family. You know, like the previous generations did.

Obviously without council housing and with continued immigration it’s still going to be a total shitshow out there. If I was starting out now I’d be off to Australia or the US

 

[doobin]

And no matter what happens it will be us who end up worse off!!
The idea of a capitalist society is to reward hard work but we have a ridiculous situation whereby hard work is punished. Yet we still have the left harping on wanting a more socialist setup.
I don't think we are alone either. Newzealand Canada much of Europe and Scandinavia seem to be in similar positions.

Yes. Fundamentally, we don’t live in a meritocracy.

 

[Smiffy]

Yes. Fundamentally, we don’t live in a meritocracy.

And we never will as the great majority are unable to see through the s**t.
Come the next election obviously labour will win. And everyone is going to expect the to sweep In and be our saviours, when in reality they will just compound the problem with more self centered poor decisions making.
I have not seen as many governments as others on here and Ive paid attention to even less. But it doesn't take an aweful lot of research to see that we are in a cycle of crap. I voted for Brexit, not because of racism, not because of a sense of nationality, infact I think the concept of a trade and immigration union is very good, but because the EU weren't doing a very good job and if you don't ask for change you can't complain and if we stayed in the EU we would have carried on plodding along listen to yet more politicians making bad decisions.
I honestly feel we need an option on the ballot sheet of sack them all and start again.

 

[Lancs Lad]

As we were saying..just seen this locally.

 

[V8Druid]

And we never will as the great majority are unable to see through the s**t.
Come the next election obviously labour will win. And everyone is going to expect the to sweep In and be our saviours, when in reality they will just compound the problem with more self centered poor decisions making.
I have not seen as many governments as others on here and Ive paid attention to even less. But it doesn't take an aweful lot of research to see that we are in a cycle of crap. I voted for Brexit, not because of racism, not because of a sense of nationality, infact I think the concept of a trade and immigration union is very good, but because the EU weren't doing a very good job and if you don't ask for change you can't complain and if we stayed in the EU we would have carried on plodding along listen to yet more politicians making bad decisions.
I honestly feel we need an option on the ballot sheet of sack them all and start again.

said it for years ... ballot paper should have a None of the above box to enable the population to express a vote of no confidence in any of the corrupt bas*ards ... not have to vote for the best of a total shower of sh1t

As we were saying..just seen this locally.
View attachment 47426

deserves every minute of what he's suffering ... if he knew anything about the market he's trying to dabble in he'd know the answer

 

[Vinpetrol]

As we were saying..just seen this locally.
View attachment 47426

Doobs point entirely

 

[Vinpetrol]

I agree that Labour will get to form a government but I just cannot see Keir Starmer delivering what is needed . He’s not going to be voted in like Tony Blair was in 1997 when a lot of people believed in him he will be voted in as a poor alternative to the Tory’s
The s**t show will just continue as he has no conviction

 

[doobin]

Doobs point entirely

Indeed. The cnt can barely string a coherent sentence together yet was allowed to have such a disproportionate effect upon his poor tenants lives. I guarantee you no rental income has been declared there either. It’ll be an interest only mortgage that they’ve been milking a pathetic hundred quid or so off each month, and now rates have risen they are underwater.

Capital gains will be due too.

 

[Lancs Lad]

Indeed. The cnt can barely string a coherent sentence together yet was allowed to have such a disproportionate effect upon his poor tenants lives. I guarantee you no rental income has been declared there either. It’ll be an interest only mortgage that they’ve been milking a pathetic hundred quid or so off each month, and now rates have risen they are underwater.

Capital gains will be due too.

It's a her... Well I suppose it could be anything these days knowing the area I think your bang on as well.

 

[TiltyShaun]

Jesus you lot like landlord bashing. I feel too guilty to even comment on some of the crap you are all sprouting!!
Any government intervention in any market has consequences. The changes to S21 will drive a lot of landlords out of the market, selling up to however can now afford the 5% mortgage rates….whilst pushing up rents in the smaller pool of properties available.
We don’t have sufficient social housing in this country and are not prepared to undertake building them. Our housing planning policies are all ready a hidden tax on the land owners with some site providing 40 to 50% of the land for social housing.
But let’s look at Lloyd’s bank Private Rental Scheme. Just purchased 100 houses on a site local to me on a development on 450. They won’t pay the additional stamp duty tax as they are exempt. They will still claim interest relief on the money as they are not a personnel tax payer. Are they worried about S21 being abolished. NO. The right to evict for non payment still stays.
I speak for many landlords that are not worried about the S21 changes. As we want long term paying tenants. This is all about favoritism to big corporations and the sooner you all realize the government does pretty far call for individuals apart from emptying your bins.

 

[6feetdown]

I've been doing groundwork's for modular build companies for a few years . I think in theory it's a great idea . It's a shame this co had some bad breaks as they would have been the first to really make a go of mass produced factory built houses. planners need to get up to speed with what the government is saying re planning for new housing stock . Attitudes locally seem to be look for a reason to oppose it first .

It would help with labour shortage and the quality control SHOULD be better in a factory production line

 

[Vinpetrol]

It would help with labour shortage and the quality control SHOULD be better in a factory production line

Absolutely !

 

[Bob]

We have done a few Potton homes and another firm who made in factory but had to assemble on site but with those you still had to put on outer skin of brick or whatever I could not make out why they didn't make the outer walls in factory as well but that was 20 years ago
As for rent in this area rents for 2 bed modern bungalow start around £1250 per month and they are tenants waiting for them .Council housing and housing association you have to be on benefits to get one