Sorry didn't mean to come across like that. I feel fairly secure so far. 9% return after costs (which has gone towards rebuilding my gold position ), 1 tenant and no hassles so far, but I may just have beginner's luck.
UK FIRE has everything locked up and is managing the situation. Housing supply is tight and new builds have fallen to all time lows mostly because local authorities aren't allowed to build public housing and the private sector just sits on building plots.This is despite a massive 20% increase in UK population in the last 10 years.
Outside of London there was a 25/30% decrease off the peak adjusting for inflation which was quite a decent correction. In the UK it's often cheaper to mortgage than rent but unfortunately people can't afford the 20% down that banks have been demanding. However with the new scheme only 5% deposits are required meaning that houses are getting bid up again. The house next door but one to my recent purchase went for 15% more than I paid 9 months ago. Oh yes, the pols have things bubbling along very nicely once again which is not surprising considering most of them are landowners and landlords themselves!
Originally Posted by GRG55
Don't fret. He had lots of government help in Canada too
Most of it from the Finance Department, headed by long time Minister Jim Flaherty.
And as a result lots of Canadians have become "landlords"...in the delusional belief that Canadian housing property is an "investment". Few are even covering their carry costs with the rents they can command on the properties they have purchased, and I suspect the most overleveraged ones are going to lose their all their up front equity before things return to anything resembling sanity...
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