Is 90k pay middle class

[PNWokingham]

dont get me wrong SOME renters do but not all by any means.

Two guys I work with one is a landlord that never passes on the mortage rises just waits for the next tennant and will go in. paint the place and increase the rent. however he is selling all his rentals up now (retiring) so all his tennants will become no fault evictions.

another guy has rented for years, his deal with his landlord is he will do all the odd repairs around the house for him. he is a sparky on here so he can do anything but gas really. so that keeps his rent reasonable

however for every good landlord you have 4 crap ones.

whilst I do believe we have a very weird view in this country that we have to own our houses and should look to europe where rental is more common but we need to get the protections in place, with the rent controls to make it reasonable and affordable.

the regulations that have been introduced over the past decade have ruined the buy-to-let marrket. Not being able to deduct mortgage interest from profits is absolutely nonsensical. And the increases in stamp duty on buying second homes/ buy-to-lets, which added 3% to stamp duty and now 5% have put the nail in the coffin for private landlords. They all want out. What these policies have not taken into account is the massive lack of supply this has caused for people who rent, meaning there is often a bun fight for properties and lack of supply pushes prices higher. So to me government policies have ruined the market for both renters and owners. Now you have big pension/ investment funds coming in buildiung large buy-to-let apartments but this will take massive more investment to balance supply and demand - and most of these will be flats and not family homes. The market is a mess. The only way you get rent controls is if they are government financed, as there is no cash.

 

[PJ87]

the regulations that have been introduced over the past decade have ruined the buy-to-let marrket. Not being able to deduct mortgage interest from profits is absolutely nonsensical. And the increases in stamp duty on buying second homes/ buy-to-lets, which added 3% to stamp duty and now 5% have put the nail in the coffin for private landlords. They all want out. What these policies have not taken into account is the massive lack of supply this has caused for people who rent, meaning there is often a bun fight for properties and lack of supply pushes prices higher. So to me government policies have ruined the market for both renters and owners. Now you have big pension/ investment funds coming in buildiung large buy-to-let apartments but this will take massive more investment to balance supply and demand - and most of these will be flats and not family homes. The market is a mess. The only way you get rent controls is if they are government financed, as there is no cash.

Could the big pension firms buy up the properties that the private landlords want rid of?

Tbh I want to see a house price crash.. it's ridiculous that I could take a 25% hit on my value and still be 100k more than I paid for it

If landlords flood the market with houses surely prices drop for buyers allowing more onto the market

 

[Voyager EMH]

the regulations that have been introduced over the past decade have ruined the buy-to-let marrket. Not being able to deduct mortgage interest from profits is absolutely nonsensical. And the increases in stamp duty on buying second homes/ buy-to-lets, which added 3% to stamp duty and now 5% have put the nail in the coffin for private landlords. They all want out. What these policies have not taken into account is the massive lack of supply this has caused for people who rent, meaning there is often a bun fight for properties and lack of supply pushes prices higher. So to me government policies have ruined the market for both renters and owners. Now you have big pension/ investment funds coming in buildiung large buy-to-let apartments but this will take massive more investment to balance supply and demand - and most of these will be flats and not family homes. The market is a mess. The only way you get rent controls is if they are government financed, as there is no cash.

Has the ban on councils building homes to replace those that were bought also contributed to these problems in any way?

 

[PJ87]

To give some perspective we took a £700 hit per month on the mortgage and only passed on a £100 because of “market rate” . I was happy to terminate at the end of the agreement and get it sale ready … I am fed up of the over management and general entitlement attitude.
We got to this position because we over paid our mortgage got a larger equity, went without, didn’t have brand new cars ( could have had a Porsche but instead had an MX5, could have had 2 foreign holidays a year, a restaurant meal 2 times a week , been a member at some posh club for a couple grand, could have had designer clothes… the list goes on .. but we didn’t and we still don’t because we don’t need them .. apart from my TSR1 driver that’s definitely required!)
Hence me saying they are insulated from mortgage rates and changes.
Your man not passing on these costs is just him knowing he cannot negotiate the change until a break point. So he is sucking up an extra cost and supporting another family that’s not his own, he is a great guy … don’t think anything less of him.


No fault eviction is a very colourful term, which should be referred to cashing out because the asset is costing more than it is making.. and your renter can then buy it if they have the funds.

Life isn’t rosey on the landlord side. I would saying flipping them is the way forward but even then you have to be a damn shrewd because property can bite you hard

Going without in that situation is a lot different from going without when the things you would go without is just essentials

 

[PNWokingham]

Could the big pension firms buy up the properties that the private landlords want rid of?

Tbh I want to see a house price crash.. it's ridiculous that I could take a 25% hit on my value and still be 100k more than I paid for it

If landlords flood the market with houses surely prices drop for buyers allowing more onto the market

Multi billion pound investment firms have no interest in single houses. They will look to invest in projects in 10s of millions upwards

Even landlords selling out will do nothing to balance the market as we build far too few. And landlords have to plan exits around minimising capital gains so they won't al appear at once

I thought there would be a housing crash due to interest rates going from zero to 5 percent but it was very limited in the end mainly due to supply dynamics and a lot of older owners with no mortgages, although inreal terms prices have fallen. I would love to see a 10% nominal crash but atm i am not sure it will happen

 

[PNWokingham]

Has the ban on councils building homes to replace those that were bought also contributed to these problems in any way?

Undoubtedly. Let's see if Mrs Raynor can solve that one!!

 

[PJ87]

Multi billion pound investment firms have no interest in single houses. They will look to invest in projects in 10s of millions upwards

Even landlords selling out will do nothing to balance the market as we build far too few. And landlords have to plan exits around minimising capital gains so they won't al appear at once

I thought there would be a housing crash due to interest rates going from zero to 5 percent but it was very limited in the end mainly due toupply dynamics and a lot of older owners with no mortgages, although inreal terms prices have fallen. I would love to see a 10% nominal crash but atm i am not sure it will happen

I doubt it will ever happen

We have built an entire economy on the bubble and the government do anything to protect it

IE cutting stamp duty during COVID

 

[harpo_72]

Going without in that situation is a lot different from going without when the things you would go without is just essentials

No one should go without essentials. But definition of essential does vary .. your friends Wi-Fi/internet you said was essential because she needed it to work from home… then the company needs to pay for it, as they are free loading.
I remember being told my mobile bill was too big, so I turned it off and they said we can’t talk to you .. no one complained about the mobile bill after that.

 

[PJ87]

No one should go without essentials. But definition of essential does vary .. your friends Wi-Fi/internet you said was essential because she needed it to work from home… then the company needs to pay for it, as they are free loading.
I remember being told my mobile bill was too big, so I turned it off and they said we can’t talk to you .. no one complained about the mobile bill after that.

Completely different times tho, now days internet is essential, school work is done on it. My 7 year olds home work is submitted via an app

That's why low income households can get discounted broadband deals

This isn't the 2000s anymore the internet is very much key to life

 

[harpo_72]

Completely different times tho, now days internet is essential, school work is done on it. My 7 year olds home work is submitted via an app

That's why low income households can get discounted broadband deals

This isn't the 2000s anymore the internet is very much key to life

You just push back to the school, it is not reasonable to expect this. There will be less fortunate kids and that has to be expected.

 

[PJ87]

You just push back to the school, it is not reasonable to expect this. There will be less fortunate kids and that has to be expected.

Yes but as I said they are provided for. School laptops can be provided

Cheaper broadband for struggling families: 14 August 2022

Broadband bills could be cut for millions of low-income households under Government plans to encourage social tariffs.

www.gov.uk

Cheap broadband for families

Even job centres can provide free broadband

"The only opportunity to get free broadband is via TalkTalk’s scheme with Jobcentre Plus. If you qualify, you get six months’ worth of free broadband from TalkTalk – more on that below."

 

[Voyager EMH]

Multi billion pound investment firms have no interest in single houses. They will look to invest in projects in 10s of millions upwards

Or 100s of millions.

In 2015

Canada Pension Plan acquires Liberty Living in £1.1bn deal

Deal allows investors a chance to withdraw cash from student accommodation provider

www.ft.com

"Student accommodation provider Liberty Living has been bought by the Canada Pension Plan Investment Board for £1.1bn — providing investors in the business’s parent fund with a long-awaited chance to withdraw cash, just months after the UK group abandoned its London IPO plans."

Caught my attention at the time as Kay Brandeaux former owner of Liberty Living owns Shenton Hall in Leicestershire as well as homes in London, Geneva, South of France and Barbados.

 

[Oddsocks]

No idea what is middle class , lower class , higher class

It’s todo with the type of ball you use.

Bambi tee with 4/5 piece ball - upper class.

Wooden tee with mid level 3 piece - working class

Woooden castles with pearl grade - lower class

Plastic castles - distance lake balls…… do we need to answer?

 

[RichA]

It’s todo with the type of ball you use.

Bambi tee with 4/5 piece ball - upper class.

Wooden tee with mid level 3 piece - working class

Woooden castles with pearl grade - lower class

Plastic castles - distance lake balls…… do we need to answer?

So...
Just suppose I "know somebody" who uses £8 per dozen Ram balls and recycles other people's tees, what class would "he" be?

 

[D-S]

So...
Just suppose I "know somebody" who uses £8 per dozen Ram balls and recycles other people's tees, what class would "he" be?

Is ‘muni’ a class?

 

[harpo_72]

It’s todo with the type of ball you use.

Bambi tee with 4/5 piece ball - upper class.

Wooden tee with mid level 3 piece - working class

Woooden castles with pearl grade - lower class

Plastic castles - distance lake balls…… do we need to answer?

What if i cross pollinate and use
Pink Bamboo , premium ball for driving and finders tees for irons ?
Does that make me classless ? Sometimes I use an AD333 2 piece as well and shout “ave it!” On every drive..

 

[Pants]

So...
Just suppose I "know somebody" who uses £8 per dozen Ram balls and recycles other people's tees, what class would "he" be?

The "Common Sense" class. Very rare now days.

Not fully sure about the Ram balls (haven't found any to try yet) but pickups are a suitable alternative.

 

[Oddsocks]

So...
Just suppose I "know somebody" who uses £8 per dozen Ram balls and recycles other people's tees, what class would "he" be?

If they uses ram balls , they’ll prob have older retro sticks so it makes them awesome!

 

[Bunkermagnet]

If they uses ram balls , they’ll prob have older retro sticks so it makes them awesome!

I still have some new and unused (still in their sleeve) Ram Lithium Balata balls.
I would class them now as like Top Flite XXL from ages ago....pebbles.

 

[Oddsocks]

I still have some new and unused (still in their sleeve) Ram Lithium Balata balls.
I would class them now as like Top Flite XXL from ages ago....pebbles.

The fact that you have them still….. let me know if they need a new home