A fall in boat prices on horizon?

[Tranona]

Typical answer from an older generation oblivious to current economic reality. There’s a world of difference and generationally we’re getting poorer as a nation and our direction is towards that of India or Nigeria with a distinct split between super wealthy and everyone else who will have essentially nothing. Have a watch of the channel I mentioned, we’re drifting towards some extremely bad times as a nation.

I am fully aware of the doom scenarios, but have been around long enough to have heard them all before. I hope you live long enough to seen things in perspective.

 

[lustyd]

Perhaps your nephews are using a quirk of the tax system. That may change.

While probably true the direction of travel seems to be to gradually outlaw small private landlords anyway so that sort of thing will be unworkable before long regardless of taxes.

 

[Tranona]

Interesting! Where were the 6 locations?

Edit: perhaps slightly cruelly, the Mac 26 is the butt of many jokes amongst our race crew.

Gosport, Hayling Island, Chichester, Ipswich, Brixham, Scotland. Not all owned but sub dealers.

 

[lustyd]

I am fully aware of the doom scenarios, but have been around long enough to have heard them all before. I hope you live long enough to seen things in perspective.

Again though you’re assuming it’s the same and it’s not. Have a look at the channel I posted if you’re interested in learning but constantly posting that young people have a choice and that they can somehow become wealthy is just ignorant and unhelpful. If you can explain why one of the worlds most proven economists is incorrect then go for it and include your credentials.

 

[lustyd]

Here’s a nice explanation of why older folk misunderstand the situation.

 

[doug748]

I am fully aware of the doom scenarios, but have been around long enough to have heard them all before. I hope you live long enough to seen things in perspective.

Indeed the young inherit the earth and everything in it. We arrive with nothing and leave the same way, bit of a bugger really.

.

 

[B27]

Too many people watching too many half-bright talking heads on U-bend.

 

[lustyd]

Indeed the young inherit the earth and everything in it. We arrive with nothing and leave the same way, bit of a bugger really.

Some of the young. The issue is that the wealth (earth and everything in it) is being concentrated with a tiny minority, leaving the rest with almost nothing to share between them.

Too many people watching too many half-bright talking heads on U-bend.

If you're referring to the one I posted, check his credentials. He's self made (from zero) and richer than you'll ever be, has two degrees in economics (from LSE and Oxford) and was the most successful banker in the world for many years. He's extensively studied the problem of wealth distribution and can show his workings. He's also been right about every call he's ever made.

 

[Greg2]

Here’s a nice explanation of why older folk misunderstand the situation.

It is a nice and simple explanation but increasing financial inequality has been as obvious as the nose on your face for years so do people really not understand it? You only have to look at your own kids to see that what we managed to do with buying a house from our own hard work and resources with no support required from Mum and Dad is utterly impossible for them now without a leg up.

Having said that, upon reflection, when discussing houses prices with friends I have often been a lone voice in saying that I wish the value of our house had not increased and hoping for a crash in prices so that younger generations have half a chance.
.

 

[doug748]

Here is an interesting touchstone on Ebay:

Albin Ballad Yacht valued at £20,000 in a survey last year. NO RESERVE price. | eBay

Standing at £4,100 now with 7 days to go. I always think early bidders are bored 14 year old boys so we can probably ignore that. Where do we think it will end up? It looks a very handy example, good recent survey, though I doubt it would ever fetch 20k on the open market.

Usable Ballads are probably in the range 8 - 15k asking prices, the vendor might arguably get 10/12k with a conventional sale? Bearing in mind the degree of pressure and jeopardy in buying at auction what is your final guess?

I am going for 8 thousand pounds - though what that would prove either way I am not sure.

.

 

[steve yates]

Inheritance doesn’t help most people as inheritance tax takes a huge chunk and the absolutely insane rise in house prices means the remainder isn’t usually enough for a deposit on a house let alone a boat. House prices are predicted to rise sharply as interest rates come down over the next year or two so everyone but the super rich (people whose income isn’t from working) will be much, much worse off. This is an effect of the unthinkably large gift of money given to the wealthy during Covid, which they don’t need so will buy assets when sensible to do so. Those assets will be houses for the most part.

Inheritance helps everyone who benefits from it, as a couple can leave more or less a million quid to there kid (s)

Thats life changing amounts, great for those kids but skews things even further as time goes on.

 

[steve yates]

Here is an interesting touchstone on Ebay:

Albin Ballad Yacht valued at £20,000 in a survey last year. NO RESERVE price. | eBay

Standing at £4,100 now with 7 days to go. I always think early bidders are bored 14 year old boys so we can probably ignore that. Where do we think it will end up? It looks a very handy example, good recent survey, though I doubt it would ever fetch 20k on the open market.

Usable Ballads are probably in the range 8 - 15k asking prices, the vendor might arguably get 10/12k with a conventional sale? Bearing in mind the degree of pressure and jeopardy in buying at auction what is your final guess?

I am going for 8 thousand pounds - though what that would prove either way I am not sure.

.

£11k

 

[steve yates]

While probably true the direction of travel seems to be to gradually outlaw small private landlords anyway so that sort of thing will be unworkable before long regardless of taxes.

Thats highly unlikely without enormous investment in council housing. Outlaw small private landlords and there will literally be no rental property available at all for most folk. It’s bad enough as it is.

 

[dgadee]

Thats highly unlikely without enormous investment in council housing. Outlaw small private landlords and there will literally be no rental property available at all for most folk. It’s bad enough as it is.

The end of landlords: the surprisingly simple solution to the UK housing crisis

What do you think of that argument?

 

[mrming]

Here is an interesting touchstone on Ebay:

Albin Ballad Yacht valued at £20,000 in a survey last year. NO RESERVE price. | eBay

Standing at £4,100 now with 7 days to go. I always think early bidders are bored 14 year old boys so we can probably ignore that. Where do we think it will end up? It looks a very handy example, good recent survey, though I doubt it would ever fetch 20k on the open market.

Usable Ballads are probably in the range 8 - 15k asking prices, the vendor might arguably get 10/12k with a conventional sale? Bearing in mind the degree of pressure and jeopardy in buying at auction what is your final guess?

I am going for 8 thousand pounds - though what that would prove either way I am not sure.

.

eBay’s not a great indicator as the winning bidder often ends up being a time waster who doesn’t pay. Reading the top of the seller’s long description in the listing - they are obviously well aware of this.

This would have sold quickly during the pandemic, but I don’t think there are many buyers for this kind of boat out there now. The condition is a bit rough but it’s well set up for long distance sailing. The engine is from 2007 and the hours are not listed in the ad or the survey. The surveyor says the engine is “good and well maintained” but the visual condition looks poor to me. The boat’s electronic systems are dated, but the kind of sailor who buys it may not care.

I think the issue will be finding a serious buyer at all, rather than getting a price, but if I was asked to value this boat, I think your £8k is not far off, and given the owner has a new boat, I imagine he might take £6k in order to stop paying the berthing fees.

 

[dgadee]

eBay’s not a great indicator as the winning bidder often ends up being a time waster who doesn’t pay. Reading the top of the seller’s long description in the listing - they are obviously well aware of this.

This would have sold quickly during the pandemic, but I don’t think there are many buyers for this kind of boat out there now. The condition is a bit rough but it’s well set up for long distance sailing. The engine is from 2007 and the hours are not listed in the ad or the survey. The surveyor says the engine is “good and well maintained” but the visual condition looks poor to me. The boat’s electronic systems are dated, but the kind of sailor who buys it may not care.

I think the issue will be finding a serious buyer at all, rather than getting a price, but if I was asked to value this boat, I think your £8k is not far off, and given the owner has a new boat, I imagine he might take £6k in order to stop paying the berthing fees.

I think £6k. Though the wind vane may up that a bit. Sails look ok. Needs a new engine, perhaps.

 

[ashtead]

This debate reminds me of an initiative on the sunny south IoW by the council in the late 80s I suspect. I’m sure it wasn’t unique to the IoW though but the council with a surprising generosity encouraged housepurchases with a development in Wootton whereby for those on the housing list -say a young18 year old son or daughter were able to achieve a starter home at discount - the houses were duly built and mortgages obtained and the council had actually increased its housing list notwithstanding the major building initiative.
If there really was a desire to house more the govt could free up vast tracts of unused government land -a drive through Gosport would easily produce sites for 10,000 houses and I’m sure other locations exist . With zero land costs the units would make affordable housing even without incentives for buyers be they social housing assoc or private landlords.

As an aside whenever I hear reports of damp running down flat walls etc it seems to be the housing associations at fault ?

 

[westernman]

The end of landlords: the surprisingly simple solution to the UK housing crisis

What do you think of that argument?

Being a landlord in the UK is an expensive business. With changing regulations on electric safety (I have had to redo the consumer unit twice in 5 years), gas safety, fire safety etc. I have to pay for electrical checks every year, gas check every year, a fire check every year. I have had to install fire doors to all the bedrooms. And I have to pay for an expensive license from the council. And then for a check up from the council before they issue the license and of course a fire check requiring new fire extinquishers and smoke detectors on a regular basis. And the cheap IKEA ones are not up to the job (no idea why).

Then of course there is the inevitable trivial stuff such as a door which is stuck, a shower which leaks, a toilet which does not flush, etc, etc.

The ongoing costs add up to about a thousand pounds a month on average over a 5 year period. A cost of course which is passed on to the renters. This is a huge amount of money and I don't think my renters are getting value for it.

By the way, I think about half the population of Germany lives in rented accommodation. A far higher percentage than in the UK. They don't seem to have the same difficulties.

 

[st599]

By the way, I think about half the population of Germany lives in rented accommodation. A far higher percentage than in the UK. They don't seem to have the same difficulties.

Nearer 80%, but with completely different laws on renting.

You get some landlords with huge portfolios - think most of Central Köln is owned by the Catholic Cathedral. Renters have long-term stability, in many cities it's almost impossible to get rid of them if they're paying on time and there's local rent control, so you charge the market rate.

 

[SaltyC]

Here is an interesting touchstone on Ebay:

Albin Ballad Yacht valued at £20,000 in a survey last year. NO RESERVE price. | eBay

Standing at £4,100 now with 7 days to go. I always think early bidders are bored 14 year old boys so we can probably ignore that. Where do we think it will end up? It looks a very handy example, good recent survey, though I doubt it would ever fetch 20k on the open market.

Usable Ballads are probably in the range 8 - 15k asking prices, the vendor might arguably get 10/12k with a conventional sale? Bearing in mind the degree of pressure and jeopardy in buying at auction what is your final guess?

I am going for 8 thousand pounds - though what that would prove either way I am not sure.

.

£20k is a very optimistic valuation for what is an old and high mileage example.
Your valuation is probably in tge correct area.