British expats in Thailand feeling the misery as the UK pound drops to record low levels.

[Orac]

Thai Gov is pushing BoT to cut interest rates at their meeting next week which could weaken the baht if they obey.

https://www.bloomberg.com/news/articles/2017-09-18/strong-baht-pits-bank-of-thailand-against-government-on-rate-cut



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[SheungWan]

7 minutes ago, Orac said:

Thai Gov is pushing BoT to cut interest rates at their meeting next week which could weaken the baht if they obey.

https://www.bloomberg.com/news/articles/2017-09-18/strong-baht-pits-bank-of-thailand-against-government-on-rate-cut

Good, short article. Damned if they do and damned if they don't.

[OJAS]

On 9/17/2017 at 9:08 PM, scubascuba3 said:

On 9/17/2017 at 8:56 PM, bomber said:

Nobody,10-20% increases dont happen quickly,plus thetes probably just as much chance of a drop in the opposite direction,

It will take longer for the EU to deteriorate and eventually the Euro goes down the toilet. Inevitable really, luckily UK would have escaped by then

Since when has the Euro been the national currency of Thailand?

[emilymat]

OK, let's test out the theory of the things which influence the value of the pound.  May is making a big Brexit speech on Friday in Italy (Why there, and not the UK I have no idea). If she indicates a softening on Brexit - i.e. remaining in the single market for a transitional period etc, then I would expect the pound to strengthen. If she adopts the Boris approach (unlikely) it should fall.

 

If it strengthens, let's see if the Bank of England then announce some gloomy news in the following day, making the pound fall back.

[bomber]

On 20/09/2017 at 9:08 PM, emilymat said:

OK, let's test out the theory of the things which influence the value of the pound.  May is making a big Brexit speech on Friday in Italy (Why there, and not the UK I have no idea). If she indicates a softening on Brexit - i.e. remaining in the single market for a transitional period etc, then I would expect the pound to strengthen. If she adopts the Boris approach (unlikely) it should fall.

 

If it strengthens, let's see if the Bank of England then announce some gloomy news in the following day, making the pound fall back.

The gloomy news has arrived as expected,as nice down grade by moodys,the cost of brexit to the UK will be massive,it cannot afford it.

[Kwasaki]

7 minutes ago, bomber said:

,the cost of brexit to the UK will be massive,it cannot afford it.

Only time will see if your right.

[bomber]

2 hours ago, Kwasaki said:

Only time will see if your right.

Cannot see there been any benefit in the next 4-6 year forcertain,and any after that chances are slim,we akready have highet inflation,weaker currency,house price drops although the agents will say different.

[Kwasaki]

16 minutes ago, bomber said:

house price drops

Good    house prices UK are too high anyway,  anybody who has an average job cannot afford to save for a deposit and renters should be made to only charge rents at a council rates.

The rich who are in control of house prices and rents can go and ( deleted, deleted, deleted ) off.

[jeab1980]

46 minutes ago, bomber said:

Cannot see there been any benefit in the next 4-6 year forcertain,and any after that chances are slim,we akready have highet inflation,weaker currency,house price drops although the agents will say different.

That will all depend on where your hose is within the UK. I have seen a nice steady rise for mine over the last 5 years. I would expect it to carry on the same. The down grade by moodys was not as bad as was feared. Im certainly pleased she has gone in the direction she has.

The UK will be in a better place in a few years of that convinced no pain no gain. Inflation was high on the back of petrol rises yet again last time lets wait and see the new figures.The £ is holding for now dispite everything. Its not all doom and gloom as some (probably remainers) would have us belive. Ill see your 4 to 6 year. My bet will be 2 to 3 year max

[jeab1980]

25 minutes ago, Kwasaki said:

Good    house prices UK are too high anyway,  anybody who has an average job cannot afford to save for a deposit and renters should be made to only charge rents at a council rates.

The rich who are in control of house prices and rents can go and ( deleted, deleted, deleted ) off.

I agree to a point. I rent my house to the council in East Devon for a set figure per month. I know for a fact the occupiers of my house pay only 50 pounds a month less than the council pays me. But the council are still quids in with the goverment subsidy they have for the scheme im in with them. The good side for me is i get rent if its occupied or not. And all maintanance is carried out by the council. So its a win win.

[The manic]

2 hours ago, Kwasaki said:

Good    house prices UK are too high anyway,  anybody who has an average job cannot afford to save for a deposit and renters should be made to only charge rents at a council rates.

The rich who are in control of house prices and rents can go and ( deleted, deleted, deleted ) off.

Not true. A 3/4 bed room house in Bradford is 160 k.And on the other side of the country..kent coast about same. There is plenty of cheap housing in UK....but not in London. House prices will not go down because there is a shortage of housing and a growing population and only limited new house building. Your proposition is a Marxist fallacy like a student spartist rambling in  studen union demo. Owning a house in the UK does not make you 'rich' nor put you control the property market. I sense generation whinge here!

Edited September 24, 2017 by The manic

[bomber]

14 minutes ago, The manic said:

Not true. A 3/4 bed room house in Bradford is 160 k.And on the other side of the country..kent coast about same. There is plenty of cheap housing in UK....but not in London. House prices will not go down because there is a shortage of housing and a growing population and only limited new house building. Your proposition is a Marxist fallacy like a student spartist rambling in  studen union demo. Owning a house in the UK does not make you 'rich' nor put you control the property market. I sense generation whinge here!

Correct,if folks cannot save to pay a deposit to save them paying rent I have no sympathy,I dont see a shortage outside of london though,loads standing empty in 90% of the UK,

[cyberfarang]

7 hours ago, Kwasaki said:

Good    house prices UK are too high anyway,  anybody who has an average job cannot afford to save for a deposit and renters should be made to only charge rents at a council rates.

The rich who are in control of house prices and rents can go and ( deleted, deleted, deleted ) off.

Considering the corrupt estate estates more or less have a monopoly on renting, buying and selling properties in the UK, that includes being mortgage and insurance brokers, it is them that set the prices and it`s been that way as far back as I can remember. Then the prices are further inflated by greedy landlords and greedy property sellers. This has had a knock on affect of pushing first time buyers out of the housing markets and never able to jump on the property ladder.

 

Those who already own properties, the lucky ones that bought several years ago when it was still possible to obtain mortgages on average earnings and property prices were not so steep, are now sitting very comfortably on their nest eggs. The situation now in the UK for young people seeking accommodations is dire. I read of unscrupulous landlords offering free accommodation to young women in return for sexual favours and some landlords are renting out under stair cupboards for £80 a week and even garages. 

 

The whole UK property industry is corrupt and rotten to the core, including the local authorities that are in cahoots with the estate agents which set the council taxes. 

[bomber]

1 hour ago, cyberfarang said:

Considering the corrupt estate estates more or less have a monopoly on renting, buying and selling properties in the UK, that includes being mortgage and insurance brokers, it is them that set the prices and it`s been that way as far back as I can remember. Then the prices are further inflated by greedy landlords and greedy property sellers. This has had a knock on affect of pushing first time buyers out of the housing markets and never able to jump on the property ladder.

 

Those who already own properties, the lucky ones that bought several years ago when it was still possible to obtain mortgages on average earnings and property prices were not so steep, are now sitting very comfortably on their nest eggs. The situation now in the UK for young people seeking accommodations is dire. I read of unscrupulous landlords offering free accommodation to young women in return for sexual favours and some landlords are renting out under stair cupboards for £80 a week and even garages. 

 

The whole UK property industry is corrupt and rotten to the core, including the local authorities that are in cahoots with the estate agents which set the council taxes. 

<deleted>,many property owners are selling up for many reasons,renters are generally scum bags and trash houses,but one of the main reasons now is benefit scumbags get the housing benefit directly, to the,so little chance of a landlord getting paid,TV has also showed them how to abuse the system.<deleted> all to do with the local councils,they will help the scumbag not the landlord,i know

[jeab1980]

1 hour ago, cyberfarang said:

Considering the corrupt estate estates more or less have a monopoly on renting, buying and selling properties in the UK, that includes being mortgage and insurance brokers, it is them that set the prices and it`s been that way as far back as I can remember. Then the prices are further inflated by greedy landlords and greedy property sellers. This has had a knock on affect of pushing first time buyers out of the housing markets and never able to jump on the property ladder.

 

Those who already own properties, the lucky ones that bought several years ago when it was still possible to obtain mortgages on average earnings and property prices were not so steep, are now sitting very comfortably on their nest eggs. The situation now in the UK for young people seeking accommodations is dire. I read of unscrupulous landlords offering free accommodation to young women in return for sexual favours and some landlords are renting out under stair cupboards for £80 a week and even garages. 

 

The whole UK property industry is corrupt and rotten to the core, including the local authorities that are in cahoots with the estate agents which set the council taxes. 

Nice rant but mainly just that a rant. So many untruths and urban myths in your post its hard to know where to start.

[cyberfarang]

1 hour ago, bomber said:

<deleted>,many property owners are selling up for many reasons,renters are generally scum bags and trash houses,but one of the main reasons now is benefit scumbags get the housing benefit directly, to the,so little chance of a landlord getting paid,TV has also showed them how to abuse the system.<deleted> all to do with the local councils,they will help the scumbag not the landlord,i know

Agreed. I know because I used to rent out properties in London. In the end these scum bag tenants got so many laws in their favour with always the odds going against the landlords that I gave it up, renting was no longer a viable business.

 

But the odds are also against decent people trying to find accommodation because there are many unscrupulous landlords too. As I said, the whole system is rotten to the core on all sides. 

 

 

[MadMuhammad]

2 hours ago, cyberfarang said:

Agreed. I know because I used to rent out properties in London. In the end these scum bag tenants got so many laws in their favour with always the odds going against the landlords that I gave it up, renting was no longer a viable business.

 

But the odds are also against decent people trying to find accommodation because there are many unscrupulous landlords too. As I said, the whole system is rotten to the core on all sides. 

 

 

It’s going the same way in Australia. Tenant damages the property? Shit fight to have them removed. Don’t pay rent? Shit fight to get them out.

They’re examining legislation now for long term leases, up to 5 years. Could you imagine the damage and neglect if a tenant knew they were locked in for that period, trying to remove them mid term would be even worse. 

I get sick of hearing the term ‘greedy investors’ or ‘greedy landlords’. A lot of people with rentals are battlers trying to secure their, and their family’s, financial future. 

 

*edit* But I do agree there are some unscrupulous landlords that make it harder for the majority.

Edited September 24, 2017 by MadMuhammad

[Tofer]

2 hours ago, cyberfarang said:

Agreed. I know because I used to rent out properties in London. In the end these scum bag tenants got so many laws in their favour with always the odds going against the landlords that I gave it up, renting was no longer a viable business.

 

But the odds are also against decent people trying to find accommodation because there are many unscrupulous landlords too. As I said, the whole system is rotten to the core on all sides. 

 

 

London is a microcosm of property markets and is not a good example by which to make a general opinion.

 

I own property in the North and, yes buying at the right time and contributing heaps of cash and effort into producing quality properties for rent has paid off to some degree. I started with nothing and got what I have through very hard work, not being rich or lucky. All simply to provide a decent pension for my family. Even though I now have an agent looking after them it's still work and worry, so retirement on a residual income is a myth. At least I have never sat back and relied on the government to provide for me!

 

A lot of our tenants are very decent, thorough vetting is a major factor, however we also get our share of the dross. If all tenants were honest, respected the properties they rent and paid their dues rents would not need to be so high!

 

I also feel for the younger generation of today as it is relatively more difficult in the current market than when I started in terms of mortgages, but some are not prepared to get out there and make their own way, preferring instead to sit around complaining and oozing envy, living for today instead of planning / working toward their futures.

 

There are plenty of cheaper properties out there, maybe not so pretty but that's where the hard work comes in, it doesn't get handed to you on a platter!

[jeab1980]

Its not a case of not getting out thete to work and to try and save for the younger generation all to easy to pidgoen hole everyone.

Mr Daughter and son in law have 3 children. They both work full time and the son in law has a part time job on top of the full time.

They live in a part of the UK which has one of the highest utility rates.plus more people working on minimum pay.

They lived in a council house. By the time they had paid the rent/poll tax (as i still call it)/water/gas/electric. Add onto that child care and food/clothes and general everyday expenses. How were they supposed to save for a downpayment on a mortgage? Virtually impossible. With help from the bank of mum and dad they now own said council house and pay £20 a month less for the mortgage than they did in rent.

They were lucky thousands out there in same boat with no bank of mom and dad.

 

Edited September 25, 2017 by jeab1980

[chrisandsu]

What we as brits really need to do is be like the Thais . Don't let foreign nationals buy our country out . It's happening in America , Australia , New Zealand , Britain , everywhere !! But we can't own in thailand ? Look after your own people first .

[Kwasaki]

15 hours ago, The manic said:

Owning a house in the UK does not make you 'rich' nor put you control the property market. I sense generation whinge here!

You were doing well to this point,  you miss the point when l had a job l could afford to buy a house not easy at first but doable.

l would like say my daughter has a secure job and because paying rent for a ground floor 1 bedroom flat she can't save enough to keep up with house /flat prices for deposit, that not right in my book.

For my daughter to go ( deleted) Bradford ain't much good when she works out of Heathrow airport on call out duty sometimes.

Property should not be dearer just because of being near (deleted) London and rents from private renters should be made fairer.

The flat my daughter lives in is 1 of 3 blocks of 2 story flats that is owed privately by 1 family and handled by the other crooks estate agents. 

England is a filth-bin the sooner my daughter can get out of country the better.

[Kwasaki]

10 hours ago, bomber said:

<deleted>,many property owners are selling up for many reasons,renters are generally scum bags and trash houses,but one of the main reasons now is benefit scumbags get the housing benefit directly, to the,so little chance of a landlord getting paid,TV has also showed them how to abuse the system.<deleted> all to do with the local councils,they will help the scumbag not the landlord,i know

And whose whinging now, l guess you rent your house, well tough.

Edited September 25, 2017 by Kwasaki

[jeab1980]

3 hours ago, Kwasaki said:

You were doing well to this point,  you miss the point when l had a job l could afford to buy a house not easy at first but doable.

l would like say my daughter has a secure job and because paying rent for a ground floor 1 bedroom flat she can't save enough to keep up with house /flat prices for deposit, that not right in my book.

For my daughter to go ( deleted) Bradford ain't much good when she works out of Heathrow airport on call out duty sometimes.

Property should not be dearer just because of being near (deleted) London and rents from private renters should be made fairer.

The flat my daughter lives in is 1 of 3 blocks of 2 story flats that is owed privately by 1 family and handled by the other crooks estate agents. 

England is a filth-bin the sooner my daughter can get out of country the better.

You have a real chip on your shoulder about eatate agents why? As for rent prices that is purley dectated by demand if some fool wants to rent a flat in london for a k plus a month more fool them. But you cant blame a landlord for making money thats like blaming tescos for the price of toilet roll.

[thaibeachlovers]

On ‎9‎/‎15‎/‎2017 at 5:22 PM, jeab1980 said:

Have i missed something? Price hike?

The booze price rise. Apparently he thinks so many expats are alcoholics that any increase in price is going to send them screaming out of LOS.

[thaibeachlovers]

11 hours ago, Tofer said:

 

 

I own property in the North and, yes buying at the right time and contributing heaps of cash and effort into producing quality properties for rent has paid off to some degree. I started with nothing and got what I have through very hard work, not being rich or lucky. All simply to provide a decent pension for my family. Even though I now have an agent looking after them it's still work and worry, so retirement on a residual income is a myth. At least I have never sat back and relied on the government to provide for me!

 

 

 

 

 

 

buying at the right time

Of course you were lucky.

[bert bloggs]

3 hours ago, jeab1980 said:

You have a real chip on your shoulder about eatate agents why? As for rent prices that is purley dectated by demand if some fool wants to rent a flat in london for a k plus a month more fool them. But you cant blame a landlord for making money thats like blaming tescos for the price of toilet roll.

I totally agree ,people always moan about agents and their fees , if they are so bad ,sell the property yourself and dont whinge .

[pigeonjake]

well im stil buying more property,

in gainsborough lincs you can still buy a terreced house for 50k sometimes a lot less and rent them for 350 to 400 a month good return for your money

[Kwasaki]

2 hours ago, jeab1980 said:

You have a real chip on your shoulder about eatate agents why? As for rent prices that is purley dectated by demand if some fool wants to rent a flat in london for a k plus a month more fool them. But you cant blame a landlord for making money thats like blaming tescos for the price of toilet roll.

Chip are you serious you obviously don't understand other options by UK government who could take to make it fairer,  how come l could buy a house and my daughter & son can't,  that means the present system is wrong it's wrong.

I guess it would better for them if they go out the country and come back as an immigrate and be treated better by the UK establishment.

[Tofer]

2 hours ago, thaibeachlovers said:

buying at the right time

Of course you were lucky.

Oh yes of course I was lucky, for all of the 20 odd years slogging away, risking my shirt to get ahead of the game, and working full time to pay for the privilege as there were no buy-to-let mortgages when I started out.

 

My first and second mortgages  were obtained by being creative and getting a forward valuation on the property once renovated with funds withheld until works complete and bank loans / overdrafts / credit cards  to cover the shortfall in the meantime. My sweat equity covered the deposit eventually.

 

It's called commitment, hard work and guts, not luck! But then not many out there are prepared to break a sweat or stick their necks out.... And to them I will always appear lucky as they cannot comprehend otherwise.

Edited September 25, 2017 by Tofer
Add

[pigeonjake]

44 minutes ago, Tofer said:

Oh yes of course I was lucky, for all of the 20 odd years slogging away, risking my shirt to get ahead of the game, and working full time to pay for the privilege as there were no buy-to-let mortgages when I started out.

 

My first and second mortgages  were obtained by being creative and getting a forward valuation on the property once renovated with funds withheld until works complete and bank loans / overdrafts / credit cards  to cover the shortfall in the meantime. My sweat equity covered the deposit eventually.

 

It's called commitment, hard work and guts, not luck! But then not many out there are prepared to break a sweat or stick their necks out.... And to them I will always appear lucky as they cannot comprehend otherwise.

bang on,

im 57 still working, but in another 3 years itll be put the feet up time, and let the houses bring in the money,

im a welding inspector so i earn very good money, but i want it to work for me, so houses it is,

ive just put a offer in for one this afternoon, 62k if i get it i do if i dont theres plenty more out there