to think all this nonsense about house prices being too high is just that - Nonsense!

[RazahFluffy]

DH and I have long been in the property game. We actually met whilst working as Estate Agents back in 1999!

I've seen a lot in my time as an agent - 2008/2009 were a bit of a blip, but overall, there's one thing I've always had faith in, and that's bricks and mortar and that prices always go up. They aren't making more land after all 😁

As well as working in property, we've got a few of our own. We started off as accidental landlords after we got together and kept both our homes to rent out when we decided it was time to move in together and find a place of our own. Over time we've added a few more to the portfolio.

We are lovely landlords. We let our tenants have our houses as their homes, and we like to do little things like send them Christmas hampers, and know their birthdays so we can send a card and usually a Pizza Express voucher.

Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

It's still buoyant and the buyers registering at the agency are no different to usual - excited to either 'get on the ladder' or move to their next step towards their eventual forever home😊Vendors are still confident. They agree with us that houses are actually a bit too cheap, all things considered because inflation is quite high.

The one thing I'd have to say is if you can't afford a mortgage at the moment - think about your expectations. You might have thought previously that you could afford a 4 bed, but if you can only get a 3 bed for now is that really so bad? First time buyers especially I feel need to be realistic!

Property always goes up and it's no different now. We're really confident and having seen it all in this game, we really think it's time to believe in the market💪

Now I know we definitely have a house price crash if estate agents are so scared that they are writing Mumsnet threads....

It’s amazing (or not) how often people choose to post shit after midnight.

Well I think the whole thing is just ridiculous and that's the end of it really.

We have interest only mortgages on our rentals so we've had to pass on those costs to our tenants. It's very basic economics.

If you believe that you must believe in the tooth fairy too. Perhaps that will be your next piece of useful advice - get all your friends and family to have their teeth extracted and put them under your pillow at night, you'll soon be well on the way to a deposit...

Can’t imagine you would have namechanged for this thread, so interesting first post.

And currently 11 people think I'm not being unreasonable, so at least some people have some common sense.

But the point is that nor every landlord has the same costs. Not every landlord even had a mortgage.

Presumably you already know this, though, what with being an estate agent.

Gotta be a wind up!
Print more money 😂😂😂
Gee why hasn't anyone thought of that.
Try living in Australia, unless you bought your house 25 years ago, it's very difficult unless you want your whole wage to go on a mortgage.

And if your tenants can't pay and move out to cheaper accomodation or back with family.... Then what happens?

House prices in Australia are falling esp in places like Sydney and Melbourne, based on what I read. The same will happen here, we are just several months behind the curve.

Many mortgagors in Australia are struggling with the higher interest rates.

But the rental market prices are set by the landlords who do have mortgages! That's the point!

We could sell some of our houses and clear the mortgages on the other ones, but there isn't much point, because these our our investments for the long term, and there's no better place to put our money than property anyway!

If they can't pay then someone else will move in!

This! So tone deaf, the more you post OP the worse it gets.

If there is a recession, where is this bottomless supply of tenants with good jobs to afford it?

You’re so naive OP 🤣🤣 what if you try to sell your houses and no one buys them because they can’t afford to - or you can’t find tenants to move in because they can’t afford the rent?

PLEASE MNHQ, don’t delete this thread. Let it stand in all it’s glory, it’s a shame to delete such blatant [insert own descriptor here].

The thread has got me thinking about one thing - what is everyone’s favourite dominos pizza? I like a “create your own” - am partial to the hotdog slices 😋

That can't happen!

If we needed to sell then there's always going to be cash buyers, and cash buyers love property! I've seen many of them over the years.

And anyway, we don't need to sell. I think the government will probably do something to help the renters out if they can't pay market rate.

Don't delete this thread, we will need something to laugh at in a year's time when our homes have dropped 20% in value and mortgage rates are 8%!

OMG this thread 😂

I'm so tempted to start a site just for troll hunting with a special "after midnight / someone fed the gremlins" section!

onthefencesitter
Um not everyone lives in Sydney and Melbourne.
Regional areas have risen to unmanageable levels so unless you're one of those lucky to own and sell a place from the city and move regional for a "sea or tree change" you're screwed.
It completely removes locals from the market cos buyers have chosen a new lifestyle and eliminates the opportunity for locals.

Yet you don’t seem to have much of a grasp on basic economics when people talk about affordability OP.

There is no affordability crisis! It's just that people can't buy what they previously might have. Buyers are the ones needing to be realistic - it's that simple!

I bought my house with dp when I was 19 back In 2001........at the time he worked full time in a supermarket. And I was pregnant with ds with plans to carry on at college but ultimately stay home with my baby.......
.how many supermarket workers do you think have been able to buy a home and support a mum staying home these days ?

Tandoori Hot!

I suspect the OP is fully aware of the volatile situation in the market and it’s a bit of wind up post (all the exclamation marks are a bit of a giveaway) but I’m also sure there are quite a few landlords out there with interest only mortgages who are getting very nervous indeed

So, why have you decided - at this time at night - that this is the point that you need to join MN and post your musings?