Bargain – £45k and surely lots of Grumble stashed away in all that chaos. A veritable Aladdin’s Cave awaits the successful purchaser.

Same principle will also apply if you buy shares in tent manufacturers.

Now is the winter of our discount tents?

That depends on what incentivises you doesn’t it? Living somewhere nice that you like or “adding value” for the next never ending upgrade to… …what exactly?

Assuming you were allowed, would you build a conservatory on a rental property?

Similarly people seem quite happy living in utter shit piles as it is.

Before viewing the link I genuinely worried that you’d stalkered the house I’m selling.

Looks like either squatters or drugs (or likely both) were involved there. And is that rhythm pamphlets all over the floor in the second picture?

Doer-upper though. You’d never buy that to immediately move in to, but get a cleaning company and a decorator and then rent it out…

Cougar did you check the “similar sold nearby”? Saw one that looked really nice, 68k, well done up if very neutral…. Then spotted the iron railings on it and all the adjoining houses’ front doors. Looks like a lovely area!!!

You’d be surprised how little that needs to turn it into a btl.

I’ve mentioned before I did splash and dash refurbs while at uni…..

This could range from – lick of paint and a new carpet to…..

Full suit and mask – taping your gloves and boots to the suit and long periods holding your breath while digging mounds of feaces out the bath and pumping the water out from under the floor cause the junkies stole every bit of copper pipe including the main stop and the hot water tank. ….. That Leeds house just needs a skip and a good scrub with selective modernisation comparitively

Then spotted the iron railings on it and all the adjoining houses’ front doors. Looks like a lovely area!!!

Probably because of the ‘residents’ of the first property…

There doesn’t have to be loop holes in tax law you know. They’re only their due to lobbying from interest groups.

Well I never knew that. I had assumed that there were always loopholes that clever/ well motivated people could find if there was the prospect of making a stack of cash from it. Are you really sure that is the case? Seems unlikely.

There are plenty of things in the past that sounded like they could never happen until they did – e.g. ….banning of hunting with dogs,

Erm. I hate to break it to you but…

Who’s going to spend £100k on a big extension, £25k on a new kitchen, £10k on a patio etc., if it adds no value to their asset?

If this was true, then what would be the point of luxury cars, super-bike MTBs, nice clothes, expensive shoes, holidays abroad..? Of course people would still do those things.

Assuming you were allowed, would you build a conservatory on a rental property?

Dunno, maybe. I’d probably put a shed in at the very least. My gran lived in council houses all her life, I’m sure if it had been an option and would have improved her quality of life she may well have done. But then, she had an assured tennency and wasn’t liable to get kicked out if the landlord decided to sell up or because her rent had risen dramatically.

As I said, people spend plenty of money of stuff with no financial return, why are houses special?

Looks like either squatters or drugs (or likely both) were involved there. And is that rhythm pamphlets all over the floor in the second picture?

Quite likely, yes. But it doesn’t change my point does it, people live in such conditions by choice already. Apparantly one of my SIL’s friends grew up in a house not too dissimilar (obsessive hoarder as a parent) and that was bought and paid for.

And yeah, never noticed those, is that a pile of vintage VHS muck under the window as well?

Assuming you were allowed, would you build a conservatory on a rental property?

On an assured tenancy I fail to see why you wouldn’t if you so desired one…..but since conservatories are a liability the owner probably wouldn’t want you to.

Houses are special because they cost a lot of money and the idea, whether sustainable or not, is that you can recoup said investment.

Cars, bikes, etc. Meh, but our economy has developed to the point where housing can offer a return. That’s the reality…

Houses are special because they cost a lot of money and the idea, whether sustainable or not, is that you can recoup said investment.

Exactly, so take that away, and watch prices fall…

…and an economy under pressure from Brexit and Covid-19…

People seem to be wishing economic disaster so they can buy a house to sit outside of with an assault rifle…

The real world, on the other hand…

People seem to be wishing economic disaster so they can buy a house to sit outside of with an assault rifle…

agreed – if property prices fall so far so fast it would only be a result of seismic changes in the economy and jobs market so why would anyone think they would have the means to buy in such circumstances when they couldn’t afford to before?

It’s more realistic than the notion that building more houses will allow people to buy homes who couldn’t previously do so.

It’s more realistic than the notion that building more houses will allow people to buy homes who couldn’t previously do so.

It’s been mentioned already, but if you’ve not watched it then give a viewing to Manctopia: Billion Pound Property Boom on iplayer to see the full, totally depressing dysfunctionality of the UK property market.

Manchester is a building site. Thousand of ‘housing units’ being built all across the city. I won’t use the word ‘homes’ because providing those -places for people to actually live – doesn’t even seem to figure in proceedings. 90% of these ‘luxury’ properties are bought as investments, off-plan, by foreign investors, to sit empty. They’re just places to store money. The other 10% are buy-to-let landlords. The council is busy issuing compulsory purchase orders on existing estates of former council housing so that the land can be sold on to the property developers to build yet more ‘investment opportunities’

Meanwhile, Manchester streets are full of homeless and there are 95,000 people on the waiting list for social housing, none of which is being built.

The housing market in this system in this country is completely and utterly ****ed up! I don’t know how you change that, but it appears that there’s no willingness at all by anyone who can make a difference to even address the issue

If this was true, then what would be the point of luxury cars,

I’ve got a grand idea. I’m going to buy a load of new, expensive cars, and then rent them at a monthly charge to people who would be unable to afford the upfront cost of purchasing said vehicle.

I’ve got a grand idea. I’m going to buy a load of new, expensive cars, and then rent them at a monthly charge to people who would be unable to afford the upfront cost of purchasing said vehicle.

i pointed that out earlier . Profiteering on that is ok apparently because you cannot live in your car.

Is a car a want or a need though? Is its necessity comparable to that of a home?

I see your point but I don’t think the two are really comparable however you see the same thing with white goods down at Bright House so you’re probably not that far off the mark, just another way of gouging money from those who can least afford it.

People seem to be wishing economic disaster so they can buy a house to sit outside of with an assault rifle…

You’re making that up.

Do you really think this approach of the economy hinging on property value is in any way sustainable? Our pensions are already invested in commercial property that is going on its arse, either way its not going to last. Surely it would be better to manage the transition than shrug your shoulders, sit back and watch everything go to shit?

Is a car a want or a need though? Is its necessity comparable to that of a home?

Depending on where you live and your profession, it might be. A reliable form of transportation, not a new german SUV.

In the same way that an enclosed, heated and roofed area with a bedroom to yourself and a bathroom (possibly shared), with some way to prepare and eat meals is a necessity; owning a multi roomed property with a garden is a want. A financially prudent want and one that will likely improve your quality of life no end, but still a want.

Is a car a want or a need though? Is its necessity comparable to that of a home?

Depending on where you live and your profession, it might be.

Honesty, how ridiculous a statement

People seem to be wishing economic disaster so they can buy a house to sit outside of with an assault rifle

or perhaps prices could just slow down and credit is given to people that need homes rather than to investors

Honesty, how ridiculous a statement

Does anyone need a car to not die immediately, no.

do certain locations* (generally more rural) and certain jobs (requiring travel, requiring you to carry equipment with you, working odd hours that take you beyond the schedule of public transport) neccessitate an automobile, yes. In a time and a place where changing jobs may not be an option a car is necessary to live.

For example, try being an ER nurse but not being able to live in cycling/walking distance from your hospital.

*house prices, the topic of this thread, is often what is forcing people’s hands on this.

Does anyone need a car to not die immediately, no.

Which was my entire point.

As for your wee runaround, do you need to get one on the never ever? Again no.

So what is your point?

Here’s a thought , what about rent caps based on the local average income? That could be fun.

Bulldoze everything, start again. It’s the only way to ensure everyone is equally unhappy.

I’ve got a grand idea. I’m going to buy a load of new, expensive cars, and then rent them at a monthly charge to people who would be unable to afford the upfront cost of purchasing said vehicle.

i pointed that out earlier . Profiteering on that is ok apparently because you cannot live in your car.

Big difference here is one asset appreciates and the other depreciates. A thirty year old house is likely to be in a better state than a thirty year old car. Hiring a car makes more sense than house rental because by the time you’ve paid in full when buying a car it’s probably getting towards time to get rid of it.

Here’s a thought , what about rent caps based on the local average income? That could be fun.

This would be interesting.

Rent control works particularly well in Berlin – you still have private landlord ownership, but the culture around home ownership is slightly different there, anyway.

Rent control, with tightly regulated living condition laws, would be a great step forward for consumer/renter rights.

You run the risk of landlordship becoming unprofitable which would see an influx of property on the market. I would forsee the government having to step in to ensure there were enough private rentals available via subsidising or direct council ownership.

Big difference here is one asset appreciates and the other depreciates. A thirty year old house is likely to be in a better state than a thirty year old car. Hiring a car makes more sense than house rental because by the time you’ve paid in full when buying a car it’s probably getting towards time to get rid of it.

But you set your rental cost at a value that gives a return, just like a landlord of a BTL sets a rent that should give a ROI allowing for property maintenance costs, insurance costs, repair costs etc. Both are workable models if the price is set correctly (see car hire companies versus specialist car hire companies).

Returning to the thread title – a combination of economy in recession, steadily rising unemployment, lack of confidence, lenders becoming increasingly stringent, no (worthwhile) deal at end of brexit transition, central bank with few policy options available, incompetent government.
That would be enough to cause prices to fall and a downward spiral follows.
The only question is when.
As for plummet – depends on how you define that.

Thanks for the manctopia link, found it very interesting being from Greater Manchester but left the country 11 years ago so have missed it all

I have two thoughts so far from it though, the buying of council properties to sell the land is absolutely disgusting imo

The building of lots of those apartments around the city in areas I don’t remember people wanting to live that didn’t have housing in originally is totally different though

Basically I agree with lady from Collyhurst

When we lived in Moss side they were doing the regeneration of Hulme and I remember scoffing at the prices of houses thinking who would pay that to live there etc, any locals care to let me know how it’s worked out as like I say I’ve been away a long time