I think the fact that there have been 10k homebuyers this year speaks for itself.
The empties are a canard.
They arent on the market and ,
They arent in the areas they’re wanted in.
Relying on people dying is hardly a new input to the market.
Market falls are being cushioned up by forebearance and lack of political will; even for BTLs.
Look at Longford.
Doesnt matter how many empty estates there are there, they dont translate directly into the (Pinsters Holy Grail) of a 3/4 bed in SCD.
Sure, you can add numbers, prices, sq footage and compare but you cannot substitute one for the other.
Yes its crooked, yes its wrong, yes its a scam, yes youve been royally fucked.
But (I’ll get shot for this) its over, or close to being over.
They got away with it.
If theres one more year of this I’ll be surprised.
I noticed on needles diary (a thread some mentioned in passing) that s/he seemed to be moving toward a story of a couple in their late-30s early-40s with several BTLs (with well in excess of a million in debt, needle?) who have continued to collect rents while negotiating down their BTL mortgages successfully.
I’d imagine that he was going to continue with anecdotes about their continued Tiger living replete with weekends abroad, three weeks in Europe for summer and childminders and house cleaners.
S/he probably knows other professional couples prepared to pay ‘whatever’ to get a particular house in NCD because of its proximity to parents.
No sign of financial stress or difficulties in raising mortgages there either.
We have yesterdays story of a couple buying a house for nearly half a million, with 35k down, while the pin is littered with stories of people saving multiples of the stress tested mortgage repayment each month being refused because they have a few kids.
To my mind, a savings track record should be weighted far more heavily in deliberations than it is at the moment. Landlord’s cleaner would be a long time getting a loan around here even though she sounds like the sort that would never miss a payment. The president of UCC on the other hand…
so you should waste your life paying for a mortgage? Would it ever dawn on people if u cant afford the house and raise your kids maybe you should wait unti lthe house price falls to a more realistic level.