Now ye're talking - to a landlord

I'm a Landlord, AMA · 04-03-2020 10:56pm

ReneeCali wrote: »

Ok, so answer me this...what was your occupation in 2004?

I had just finished a 4 year maths degree while working in a petrol station by night in 2002 , then I started as a junior developer so in 2004 I was a developer

How does this show I was greedy ?

Iscreamkone · 04-03-2020 11:19pm

At best, the landlord will make €34k rental profit. This will be taxed.
Hardly greedy

If someone had 100 properties making €2m in taxable earnings - good luck to him.

Slydice · 04-03-2020 11:53pm

and just back..

you answered a bunch of my questions already and I can see you're busy but if you do get stuck for some (no pressure

).. I'm guessing the business perspective you might be able to bring to these would help me understand the situation better.

Slydice wrote: »

Did you know the central bank does a report on mortgage arrears that includes Buy-To-Lets?

Are your mortgages considered Buy-To-Lets?

In the lastest report from the central bank: latest report link
It says:
there are: 106,130 residential mortgage accounts for buy-to-let(BTL)properties

14,744 accounts or 13.9per cent were in arrears of more than 90 days
(outstanding balance on these accounts was€3.9billion)

Accounts in arrears of over 720 days numbered 10,861 or 62per cent of all BTL accounts in arrears
(outstanding balance on these accounts was€3.1billion)

48properties were taken into possession (16 by repossession)

That looks to me like a huge number of landlords in arrears over 2 years at 10,861.

I wonder if you understand it any better being in a landlord position?

Would you hold on to some of your properties if they were arrears? If not, would you sell them down to try and figure it out?

Can you think of any reason why holding onto a buy-to-let which is in arrears for more than 2 years makes sense to a landlord?

What do you think of the number of repossessions? At two years in arrears, would it be better or worse to just rip the plaster off for a lot of these landlords?

croker99 · 05-03-2020 2:14am

I'm a Landlord, AMA wrote: »

I think it was only 8% when I told them I was going to live in it ..

A lie... nice

I'm a Landlord, AMA wrote: »

I have met people who's references were perfect and just gotten a bad vibe when I met them and I have met people with no references but gotten a good vibe from them and given them the place...

And yet by your own admission you are quite bad at picking them... you listed off the bad things you have experienced

I'm a Landlord, AMA wrote: »

the recession was quite hard I had to put 1/3 of my wages to them per month to keep them and pay my own rent.....

Sorry what, 33% of your net pay covered your own rent plus the top up required on the tenants rent to keep the mortgages paid on all properties... 33%?!

A lot of people pay that and more just for their own place

I'm a Landlord, AMA wrote: »

This is a ROUGH example

rent is 1000 per month
mortgage is 1000 per month

At the end of the year the revenue will look at the 12000 rent as income and give you a tax bill of about 5 k on it ...

well, if you are talking rough examples, on average only ~61% of the income is taxable, after allowable deductions, so the tax bill would be more like 3,660. Just over 90k over the 25 years. Add in a deposit, cost to you is maybe 120,000, as in this example the mortgage is covered by the rent.

I know there are other expenses, but the payoff here is massive. For unearned income. Unearned. The tenants are working their ass off in most cases, giving you money, and at the end of it all you are doubling your money.

I'm a Landlord, AMA wrote: »

Its not costing me anything extra .. its 100% deductible.

So if the accountant's input is so simple why not do it yourself and give it over to be state so we can pay for services..?

I'm a Landlord, AMA wrote: »

but i do know of a landlord (not personally) that was getting cash for the rent and was audited … he had to sell the house to cover the interest and penalties ...he has no idea how or why he was audited....

tenant reported it one would hope... same person probably gives out about the lack of services or the state of the roads or some other cr*p

I'm a Landlord, AMA wrote: »

Hi it’s the way it’s taxed see the previous posts on how the taxing works and all the new taxes that I paid that were not there when I bought them

, I don’t see how I am massively privileged at all ....

says the person who told us in another post that the banks gave them over 800k on a 40k income...

I'm a Landlord, AMA wrote: »

you seem to have a chip on your shoulder about landlords .. I am a working person from an average working class family I grew up in not a great area in Dublin .,you are making it sound like I was given the houses and I didn’t have to pay the mortgage , cover shortfalls ,pay when the tenant trashed the house etc and work and pay to keep them for the past 16 years
If I sold them all tomorrow I would walk away with zero
I don’t think I’m privileged at all really
Hard working and determined more so

a mortgage by deception ��please ��
You ever lie on a form ? Ever told a lie ??
The first mortgage maybe .., the next 2 the bank were all over me to get the business but I still had to pay stamp and sols fees etc

Anyway thanks for your question
Next person please

you are one deluded person

I'm a Landlord, AMA wrote: »

At the moment I roughly take in monthly

4700 rent

Mortgage is 3450
House insurance 100
Annual tax bill is about 12k (say 1000 a month )
Solicitors fees 1500 a year
Prtb
Lpt
Maintaince and repairs

So basically I make zero in capital per month ( I did have to add money to the rent to cover the mortgage for a long time )

So you're taking in 4,700*12=56,400 in income, your tax is 12,000.... 12,000/56,400 = 21%... so much for 50%!!!

that's even less the than the % I had worked out (0.61*0.5=.31, 31%)...

I'm a Landlord, AMA wrote: »

as I said earlier .. if I sold today and added up what I put in I would be at zero .. so where is the massive profits ??
zero after running 3 houses for 16 years ?? what profit ?? what massive profit ??

the profit is in 9 years time, like you said yourself... and you said you are currently breaking even, so you are not currently having to top the rent up from your own income, in 9 years time you could sell all 3 and double your money you put in, setting yourself up for a very easy life from aged 50 onwards, meanwhile most of us will be going until 68 or whatever.

Jade2015 wrote: »

OP,There is always some begrudger who begrudge someone who makes his or her living off something that they dont see as work/labour.
Best of luck and thanks for your post.
<snip>

count me in here. unearned income is good in some cases, but not when it is off the back of someone else's earned income, where the rents are too high. Income from shares or some crap - grand.

I'm a Landlord, AMA wrote: »

I wouldn't agree with that at all .. Landlords bring in a lot of tax revenue and provide a service to the public .. Also its not easy to be a landlord you do need a big deposit up front and be prepared for the long haul and also have money to hand to pay tax bills etc

Do they? I think not, about 750m out of the nearly 60bn the Government take in in taxes in total, just over 1%

lawrencesummers · 05-03-2020 6:01am

Am I the only one who has zero issue with somebody lying to the bank ? Or are we actually going to pretend that lying to an institution that continually lies to its customers, the regulator and the government is actually worthy of honesty from its customers, are people really taking the moral high ground on behalf of the bank?

I'm a Landlord, AMA · 05-03-2020 8:17am

lawrencesummers wrote: »

Am I the only one who has zero issue with somebody lying to the bank ? Or are we actually going to pretend that lying to an institution that continually lies to its customers, the regulator and the government is actually worthy of honesty from its customers, are people really taking the moral high ground on behalf of the bank?

Clip clop high horse ..

Anyway
Yes I found that strange too .. the bank didn’t want me to have one rental house
But they were happy to give me 2 and even happier to give me 3 mortgages
This was all back 15 odd years ago when things were a lot different

[Deleted User] · 05-03-2020 9:12am

There's a few posters here who need to get over themselves. I really struggle to understand the hate for landlords. It's a business the same as any other.

If the OP sells up tomorrow that's 3 people/families that need to find somewhere else to live. So he'll make some money at the end of it? Big deal,fair play to him.

u140acro3xs7dm · 05-03-2020 9:48am

SuperRabbit wrote: »

Yes yes exactly you should feel privileged and grateful for those things

and you should feel privileged and grateful because if you were just a bit younger you could do all that and more and still not get a mortgage

What nonsense, do you think my grandparents spent their lives going around feeling privileged that they could buy a house cheaper than an iPhone?

Should I feel privileged that I can buy a tin of beans for under a euro, but in 50 years it will cost more than 10 times that?

The OP worked his bollix off, took a risk and in 10 years will reap the rewards of that - 25 years after taking the risk.

The banks were giving away mortgages far too easily 15 years ago, and a huge chunk of people that got them are not feeling at all privileged about that these days because they lost everything. Mainly because they didn't manage it right - the OP did, and fair play to him.

FluffyTowel · 05-03-2020 9:55am

Hmmmm. Some serious begrudgers on this thread. So the OP took a massive risk, and has worked hard to make it pay off. I was very close to buying an apartment during the boom when I was about 23, and would have been given an 100% (might have even been more!) mortgage. If I had gone ahead, I would have ended up with severe negative equity. Is that considered as privilege too?

Anyway. I would say fair play to you OP and I wish you lots of success.

Anyhow. My questions would be, are there any of your rental properties that you particularly like, and could you see yourself swapping where you live some day?

Or, if you head out travelling, would you consider renting out your own home?

Thanks for an interesting AMA!

Diemos · 05-03-2020 9:57am

croker99 wrote: »

A lie... nice

And yet by your own admission you are quite bad at picking them... you listed off the bad things you have experienced

Sorry what, 33% of your net pay covered your own rent plus the top up required on the tenants rent to keep the mortgages paid on all properties... 33%?!

A lot of people pay that and more just for their own place

Well, if you are talking rough examples, on average only ~61% of the income is taxable, after allowable deductions, so the tax bill would be more like 3,660. Just over 90k over the 25 years. Add in a deposit, cost to you is maybe 120,000, as in this example the mortgage is covered by the rent.

I know there are other expenses, but the payoff here is massive. For unearned income. Unearned. The tenants are working their ass off in most cases, giving you money, and at the end of it all you are doubling your money.

So if the accountant's input is so simple why not do it yourself and give it over to be state so we can pay for services..?

tenant reported it one would hope... same person probably gives out about the lack of services or the state of the roads or some other cr*p

says the person who told us in another post that the banks gave them over 800k on a 40k income...

you are one deluded person

So you're taking in 4,700*12=56,400 in income, your tax is 12,000.... 12,000/56,400 = 21%... so much for 50%!!!

that's even less the than the % I had worked out (0.61*0.5=.31, 31%)...

the profit is in 9 years time, like you said yourself... and you said you are currently breaking even, so you are not currently having to top the rent up from your own income, in 9 years time you could sell all 3 and double your money you put in, setting yourself up for a very easy life from aged 50 onwards, meanwhile most of us will be going until 68 or whatever.

count me in here. unearned income is good in some cases, but not when it is off the back of someone else's earned income, where the rents are too high. Income from shares or some crap - grand.

Do they? I think not, about 750m out of the nearly 60bn the Government take in in taxes in total, just over 1%

I feel the need to say that I'm not a landlord, but seriously, re-read what you wrote.
The chip on your shoulder is beyond massive. Or you are just plain trolling.

If you think being a landlord is just unearned income then you know nothing.

So shares are ok, were shareholders can demand lay off's to increase profits / slim the company to sell it for more profit, that's ok, but being a landlord is just horrible and holding down the little man.

Every bar in this country has bitter twisted little men like you who piss and moan about the 'privilege' of others.

TuringBot47 · 05-03-2020 10:31am

Fonelovin'dude wrote: »

There's a few posters here who need to get over themselves. I really struggle to understand the hate for landlords. It's a business the same as any other.

Sometimes not even a business, with "accidental landlords".
E.g. inheriting a house or if a couple both had houses before they met, and moved into one and rented the other.

Hate should be directed at previous governments who haven't built social housing in many decades, leaving it to the private sector/individuals to fill the gap.

Loads of begrudgers and bitterness on the thread alright.

Zulu · 05-03-2020 10:56am

To the OP, please ignore the obvious trolls or bitter small-minded begrudgers.

How/where do you advertise?

Other than the 4 month turn around - have you ever had an issue with HAP and dealing with the bureaucracy?

Last question - bit vague, but: considering your tight cashflow, and your use of HAP, do you not fear that the government might pull the HAP payment from under your feet or make a sweeping change (similar to the 4% limit)?

osarusan · 05-03-2020 11:04am

Fonelovin'dude wrote: »

There's a few posters here who need to get over themselves. I really struggle to understand the hate for landlords. It's a business the same as any other.

I agree with this, especially as this landlord isn't packing them in 9 to a room.

Although I do think the 'where are my massive profits?' line is a bit disingenuous when the big profits in his case will come after the mortgages are paid off and there are properties that are owned outright bringing in rent.

Nothing wrong with that, fair play to OP, but pointing out that they are not making any money right now is egging things a bit too much.

borderlinemeath · 05-03-2020 11:12am

osarusan wrote: »

I agree with this, especially as this landlord isn't packing them in 9 to a room.

Although I do think the 'where are my massive profits?' line is a bit disingenuous when the big profits in his case will come after the mortgages are paid off and there are properties that are owned outright bringing in rent.

Nothing wrong with that, fair play to OP, but pointing out that they are not making any money right now is egging things a bit too much.

But this is where a lot of landlords either fall into arrears or fail outright and hand it back to the bank (to be sold off to a REIT probably). If you're having to supplement your investment it is like walking a financial tightrope. Unless you have a really good job with a decent amount of disposable income, there is ALWAYS something needing cashflow, be it new appliances/electrical work/boiler repair/plumbing etc. All the while trying to put away enough money for October when you have to do your tax return.

I don't blame the OP for the massive sigh of relief he must feel after weathering the storm of the recession and simply stating that they still aren't making any profit.

osarusan · 05-03-2020 11:17am

borderlinemeath wrote: »

[/B]

But this is where a lot of landlords either fall into arrears or fail outright and hand it back to the bank (to be sold off to a REIT probably). If you're having to supplement your investment it is like walking a financial tightrope. Unless you have a really good job with a decent amount of disposable income, there is ALWAYS something needing cashflow, be it new appliances/electrical work/boiler repair/plumbing etc. All the while trying to put away enough money for October when you have to do your tax return.

I don't blame the OP for the massive sigh of relief he must feel after weathering the storm of the recession and simply stating that they still aren't making any profit.

I agree with you, it is a real tightrope, and the OP has done really well to achieve what they have. And in a few years, they will reap the rewards of that, and fair play to them.

My point is that explaining current income and costs and saying 'there are no massive profits here' doesn't mean much, because that's not when profits are expected to be made. Now is tightrope time, and the profits come later.

EDIT: If there are people who think that landlords are rolling in cash even while paying off the mortgages and is explaining to them, then fair enough.

Anyway, I'll leave it at that, thread has been disrupted enough.

borderlinemeath · 05-03-2020 11:29am

osarusan wrote: »

I agree with you, it is a real tightrope, and the OP has done really well to achieve what they have. And in a few years, they will reap the rewards of that, and fair play to them.

My point is that explaining current income and costs and saying 'there are no massive profits here' doesn't mean much, because that's not when profits are expected to be made. Now is tightrope time, and the profits come later.

Anyway, I'll leave it at that, thread has been disrupted enough.

Not to be dragging the OP off topic, but this might not happen. Who knows when the next recession will kick in? Who knows if the next government actually tackles the housing crisis and rents and property prices come down. It's a risky investment that has not come to fruition yet. I certainly wouldn't be counting on future profits.

I'm a Landlord, AMA · 05-03-2020 11:36am

Zulu wrote: »

To the OP, please ignore the obvious trolls or bitter small-minded begrudgers.

How/where do you advertise?

Other than the 4 month turn around - have you ever had an issue with HAP and dealing with the bureaucracy?

Last question - bit vague, but: considering your tight cashflow, and your use of HAP, do you not fear that the government might pull the HAP payment from under your feet or make a sweeping change (similar to the 4% limit)?

Hi there,
thanks for your kind words and question..

All get advertised on Daft really but its hard now you cant put up a phone number as you will have 200 plus calls an hour.....its hard to keep track of 10 daves and 16 marys by phone .. so email is better .. im do get A LOT emails that range from Novels to " wen can u show us de gaff yeah ?"
but as I said before you really have to meet someone to get a proper feel for them .

HAP used to be brilliant ,now there is a 4 month delay on new applications..
I had a new tenant move in ,in October and was only paid end of last month
which was tough given xmas and paying my own mortgage
HAP are ok once you have all your ducks in a row , tax clearance cert etc

Yes I do fear that there might be sweeping changes .. I think I am over the worst of it all now tho and if there was another recession I would not be nearly as exposed

I'm a Landlord, AMA · 05-03-2020 12:06pm

Slydice wrote: »

and just back..

you answered a bunch of my questions already and I can see you're busy but if you do get stuck for some (no pressure ).. I'm guessing the business perspective you might be able to bring to these would help me understand the situation better.

Hi
yes its easy to get into Arrears you do need to have cash to hand at all time just in case something happens.. 6 doors down from one of my places the wife caught the husband having an affair and set fire to the house after she cancelled the house insurance …..it set fire to the house beside it too...
so my point is you never know whats around the corner
I am not in arrears but I have been very lucky that I have a good job that wasn't affected too much by the recession...

if I was in arrears I think I would try to figure it out I think I am over the worst of it now and I would not be as exposed if there was another recession

u140acro3xs7dm · 05-03-2020 12:11pm

Not sure if it has been asked, but where do you live? Is it a 4th house that you own?

Colking · 05-03-2020 12:50pm

Hi there

It's been an interesting read.

In the depths of the recession if someone like say Nama had offered to take the three properties off your hands and you had to pay for say the solicitor fees, a small administrative charge, but been able to walk away, would you have taken it ?

In the depths of the recession did you feel that if you had been 5-10 years younger, or 5-10 years older you wouldn't have been in the precarious position you were in ?

Would you be happy to take less in rent if there was a robust deposit scheme co-ordinated/held by a third party who conducted an inspection at the start of a tenancy and at the end to determine wear and tear etc. and the proportion of the deposit to be returned ?

Would you be happy to take less in rent if you could remove anti social/ anti paying tenants quickly ?

dubrov · 05-03-2020 12:50pm

I have to say fair play to the OP.
In hindsight the purchases in 2004/05/06 were a disaster. They were probably 3 of the 4 worst years to buy property in Ireland in the last 30 years.

Even now it sounds like they are 34% below their purchase value which is well below average for those years.

Many ran off to England to declare bankruptcy but the OP has stuck it out and managed to turn a 400k equity loss back to a break even situation.

It looks like that hard work is set to pay off in the next few years but there are huge risks ahead (recession, bad tenants etc.).

I still think on average it is a fairly decent return though. The OP has invested about 160k and is looking at a 25k+ return going forward for the next few years for what is likely a couple of days work per year. Of course one bad tenant could wipe all that out.

Sinister Kid · 05-03-2020 12:52pm

Have you ever had a tenant over hold? & if so, how did you handle it?

We got notice from our landlord after just shy of 7 years, says he wants the property for his son.
A surprising amount of people have told us to overhold - which we are not doing.
We are hoping to buy this year & even the mortgage adviser that I had a chat with asked why we weren't, he said the law was in our favor & why not stay till we have our own place sorted.

I'm a Landlord, AMA · 05-03-2020 1:15pm

Sinister Kid wrote: »

Have you ever had a tenant over hold? & if so, how did you handle it?

We got notice from our landlord after just shy of 7 years, says he wants the property for his son.
A surprising amount of people have told us to overhold - which we are not doing.
We are hoping to buy this year & even the mortgage adviser that I had a chat with asked why we weren't, he said the law was in our favor & why not stay till we have our own place sorted.

Hi there
I wouldn't be too happy if a tenant told me he wants the property for his son. I wouldn't know the son..and as far as I would be concerned my lease is with the existing tenant he cant pass it on...I never heard about it to be honest nor has it happened to me . if I were you I would call the PRTB and see if they have more info on it

I'm a Landlord, AMA · 05-03-2020 1:18pm

Colking wrote: »

Hi there

It's been an interesting read.

In the depths of the recession if someone like say Nama had offered to take the three properties off your hands and you had to pay for say the solicitor fees, a small administrative charge, but been able to walk away, would you have taken it ?

In the depths of the recession did you feel that if you had been 5-10 years younger, or 5-10 years older you wouldn't have been in the precarious position you were in ?

Would you be happy to take less in rent if there was a robust deposit scheme co-ordinated/held by a third party who conducted an inspection at the start of a tenancy and at the end to determine wear and tear etc. and the proportion of the deposit to be returned ?

Would you be happy to take less in rent if you could remove anti social/ anti paying tenants quickly ?

Hi there
even at its worst levels I still had an idea of what I wanted to do, I think the fact that I was so young really helped me with it all …

Re your second question .. is that not what letting agents are supposed to do .or do you mean a state scheme?

ive had not have many problems with anti social behaviour ..I suppose I have been lucky but I couldn't afford not to address an anti social or non paying tenants quickly ...

[Deleted User] · 05-03-2020 1:43pm

I'm a Landlord, AMA wrote: »

It has not been any part of my income for 16 Years
I reckon I have put over 160k of my own money to keep them running the past 16 years
If I sold them all tomorrow I would walk away with prob 180k

I worked very hard to buy and keep the houses
I had 3 jobs at one stage .... as I said earlier when all my pals were in Ibiza /buying cars etc I was home saving
I don’t see how being grateful or privileged really applies here to be honest ....

You were able to buy 3 houses in your 20's. That is a privilege that today's generation does not have.

[Deleted User] · 05-03-2020 1:45pm

I'm finding this very frustrating to read. I would love the opportunity to buy one house in 20's (albeit into negative equity), let alone three houses. I find it very frustrating that you don't see that opportunity as a privilege. I think I'm around 10 years younger than you and my rent is ~40% of my salary. That is dead money paying someone else's pension. I wish I'd be slowly paying off a mortgage to have a property down the line rather being stuck where I am with my rent constantly rising. You have clearly worked very hard and done wonders to say afloat while keeping your houses intact but I can't help but yet feel you are squeezing a market that is directly effecting an entire generation. I imagine massive corporations buying up apartment blocks are a bigger problem than a private landlord. I'd personally love if we stopped treating housing as an asset since the supply is very short and everyone needs to live somewhere. Imagine there was a food or water shortage and we kept upping the price. There is a systematic problem here. Thanks for doing this AMA, apologies for directly my frustration towards you.

Colking · 05-03-2020 1:48pm

I'm a Landlord, AMA wrote: »

Hi there
even at its worst levels I still had an idea of what I wanted to do, I think the fact that I was so young really helped me with it all …

Re your second question .. is that not what letting agents are supposed to do .or do you mean a state scheme?

I hear you, I think the enthusiasm/hopefulness/confidence of youth sometimes helps to carry people through tough times.

In terms of the scheme, I was more looking to gauge what would need to be in place with you being happy to reduce rental income.

I note that you have stated rents are too high (I agree as a Landlord also) and would be all too happy to look at ways to reduce them. You have some tenants paying below what the market rate might get you, so do I, as I also value good tenants and good relationships over squeezing every last drop out of it.

Unfortunately some of the legislation that has been introduced was of a wildcat nature which impacted severely on reasonable Landlords.

It made many think to themselves, I need to squeeze every drop out of this because I have no idea when some populist but ultimately counter productive legislation will be introduced again.

I'm a Landlord, AMA wrote: »

ive had not have many problems with anti social behaviour ..I suppose I have been lucky but I couldn't afford not to address an anti social or non paying tenants quickly ...

Unfortunately addressing it quickly under today's legislation may mean a period of between 1 and 2 years. This would break or go a long way towards breaking most one to two property Landlords ( which make up the majority of the market)

Colking · 05-03-2020 2:01pm

partyjungle wrote: »

I'm finding this very frustrating to read. I would love the opportunity to buy one house in 20's (albeit into negative equity), let alone three houses. I find it very frustrating that you don't see that opportunity as a privilege. I think I'm around 10 years younger than you and my rent is ~40% of my salary. That is dead money paying someone else's pension. I wish I'd be slowly paying off a mortgage to have a property down the line rather being stuck where I am with my rent constantly rising. You have clearly worked very hard and done wonders to say afloat while keeping your houses intact but I can't help but yet feel you are squeezing a market that is directly effecting an entire generation. I imagine massive corporations buying up apartment blocks are a bigger problem than a private landlord. I'd personally love if we stopped treating housing as an asset since the supply is very short and everyone needs to live somewhere. Imagine there was a food or water shortage and we kept upping the price. There is a systematic problem here. Thanks for doing this AMA, apologies for directly my frustration towards you.

I hear you, and that was exactly why I bought an apartment. Why pay dead money ? Why pay someones mortgage for them?

The property market now is completely dysfunctional. The legislation governing it is also completely dysfunctional.

Cudo's to the OP and cudo's to them for agreeing to do this AMA. We need conversation and understanding and direct action to address a number of items in the property Market.

Successive governments and the media have portrayed small Landlords as the root cause of all evil. If you take the time to look into the matter at all you will see that this is lazy governance and buck passing. Lazy Journalism, that is effectively click bait.

Zulu · 05-03-2020 2:09pm

partyjungle wrote: »

I'm finding this very frustrating to read. I would love the opportunity to buy one house in 20's (albeit into negative equity), let alone three houses. I find it very frustrating ....

Oh will you jog on.

My parents generation could buy a 4 bed with a big garden, within 5 miles of the city centre for about 50K. They could do this on a single salary. Did I vent my ire at them? No.

Life deals you cards, and you play with them.

If I was born 4 years earlier, I'd have caught the start of the dot com bubble, instead I graduated as that bubble burst. I'd have been able to buy an apartment in 2004 benefiting greatly from the housing bubble, as opposed to buying in 2008 as it burst. That's life. You can cry about it, but noone cares. We're all suffering it.

Your generation is experiencing a housing crisis, it's a tough blow, get over it. Sure he's "privileged", he wasn't born in a sewer in the 3rd world to a mother with HIV. But guess what, neither were you, so I guess you're "privileged" too. Should you both flagellate yourselves?

Sorry but the begrudgery is really really grating.

[Deleted User] · 05-03-2020 2:20pm

Zulu wrote: »

Oh will you jog on.

My parents generation could buy a 4 bed with a big garden, within 5 miles of the city centre for about 50K. They could do this on a single salary. Did I vent my ire at them? No.

Life deals you cards, and you play with them.

If I was born 4 years earlier, I'd have caught the start of the dot com bubble, instead I graduated as that bubble burst. I'd have been able to buy an apartment in 2004 benefiting greatly from the housing bubble, as opposed to buying in 2008 as it burst. That's life. You can cry about it, but noone cares. We're all suffering it.

Your generation is experiencing a housing crisis, it's a tough blow, get over it. Sure he's "privileged", he wasn't born in a sewer in the 3rd world to a mother with HIV. But guess what, neither were you, so I guess you're "privileged" too. Should you both flagellate yourselves?

Sorry but the begrudgery is really really grating.

Lol jog on yourself. I'm absolutely begrudging his situation and I'm venting about that. This thread is about landlords. What do you expect.

Now ye're talking - to a landlord

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