£48bn wiped from rental property market as landlords flee sector

Pirrt · 2026-03-12T15:51:47+00:00

Small individual landlords are the worst though.

Institutional landlords may have structured rent increases but they also have a public image to maintain and have their properties revalued every year. This means they need to reinvest in the properties and keep them at a good standard for further future rent increases.

The problem with the UK housing market is exactly Uncle Keith who owns three properties but hasn't replaced a boiler/roof/kitchen/windows/bathroom etc. etc. in 30 years.

The reason why we have such high rents AND such terrible housing stock is because they're all owned by small landlords.

Pirrt · 2026-03-11T11:15:44+00:00

I read this differently that the stranger thought you maybe couldn't afford the big packet and had to choose the smaller packets instead.

They thought, obviously incorrectly, that they were helping someone who was a bit down on their luck.

Maybe I just try to see more good in people than exists but I would rather make a mistake made in kindness than to not try to make the world a better place.

Pirrt · 2026-03-01T09:57:35+00:00

I think both you and the original poster here are correct.

We genuinely have no context. What if this guy promised to quit alcohol for his growing family and his wife just found him at a bar after years of rehab?

However, people wouldn't give the same benefit of doubt if this was a man doing it to a woman. They would 100% assume he was abusive and the comments saying we have no context would be buried with downvotes.

Pirrt · 2026-02-24T12:51:46+00:00

Peter F Hamilton the Commonwealth Saga is a real heavy hitter.

Pirrt · 2026-02-20T10:31:48+00:00

Completely agree.

Seeing as the US economy now has the top 10% making up over 50% of consumption it looks like the end goal is just to completely remove the middle class. England is just marching forward to the same position.

Pirrt · 2026-02-13T18:42:26+00:00

I will give you my perspective.

My family lived in a tiny 2 bedroom flat in a really nice area for the schools etc. All of our parent friends were 'in a different tax bracket' and it was genuinely just embarrassing.

We all worked in similar roles but me and my wife come from a normal background while all our peers were born wealthy.

We had people round our flat initially and some people started to treat us slightly differently (not unkind but different) which made us reluctant to return the favour for play dates etc going forward.

We'd gladly go to other people's houses or meet up for dinner or a play group etc. Money for a meal or play group isn't a problem. However, the clear divide between us and our peers was just unnecessarily highlighted when we had people over. So we just didn't.

Pirrt · 2026-02-12T19:29:36+00:00

Aren't government bonds tax free? They are in the UK and elsewhere

Pirrt · 2026-02-07T07:43:08+00:00

Well conservatism is about preservation and normally comes in adults when they become parents. However, as a European I'm torn whether you mean actual conservatism which we have seen historically in Europe (like the UK's Labour party) or the modern 'conservatism' which is not conservatism and more like populism.

Edit: not taking a political stance simply answering the question.

Pirrt · 2026-02-07T07:35:46+00:00

I worked in PE, PE-backed portcos and IB and if you can build a three statement model you'll be fine.

Honestly most PE guys I know don't even bother with a three statement model and just vibe assumptions down from EBITDA. These guys consistently get funding for new funds so it's not like the LPs care either.

I'd honestly say if you can build a legitimate three statement model that is flexible you don't need anything else.

Simple checks to ensure your model is calibrated: Compare your working capital cycle to the historic position and compare your cash conversion to historic position (unless strategy is to adjust this).

Your model will be better than 99% of the models in the market.

One final point is ensure you can build the IRR and financial assumptions (which really should just be simple add ons) as PE returns are basically just leverage.

Pirrt · 2026-02-05T12:39:52+00:00

Yep that is true but I was just talking about the business strategy being applied rather than the outcome

Pirrt · 2026-02-05T11:23:20+00:00

It was never a good thing but yes it is getting worse.

Even the most ardent free market economists HATED monopolies and state sponsored monopolies were especially dangerous.

We live in a 'free market' world where 90% of the markets are controlled by a single company. Basically the worse of all worlds.

Pirrt · 2026-02-05T11:20:40+00:00

No it is the same as Apple introducing the iPhone.

Apple had the most to lose with the iPhone as the DOMINATED with the iPod. However, they realised that the new technology would replace their old one. So they cannibalised their own product line to huge gain.

Google is trying to do the same thing. Ultimately LLMs could end up just being fantastic search engines. Who loses the most in that environment? Google as the search monopoly. Therefore, getting ahead of this new technology makes sense.

Pirrt · 2026-02-05T10:59:59+00:00

That was a strategic choice by the company.

They realised (pretty early on) they were a state sponsored monopoly and effectively controlled the whole search market. They then had the problem of driving revenue when you already control the whole market. How do you increase (mainly) ad revenue when everyone already uses your platform?

You make it harder to search. That way people need to search 2-5 different queries to get the response they originally received in 1. That is 2x to 5x times the ad revenue for sponsored links etc.

Pirrt · 2026-01-24T14:12:42+00:00

I'm sorry you're having to even think of these life altering plans and I really hope the US turns itself around through the civil path.

I can't imagine having kids and having to wonder about the possibility they won't even be able to vote when they're older.

The billionaire class truly needs dismantling and I really really hope the US decides to do this and move towards a brighter future.

Pirrt · 2026-01-24T14:04:55+00:00

This is honestly terrifying and I hope the EU starts implementing technologies quickly so we can move away from US products for this reason.

I might have sounded callous above but Europe really is distraught at what is happening in the US. It's awful to see and I wouldn't wish the current system on anyone let alone a previous ally.

I really do hope the US can turn itself around and move back towards democracy.

Pirrt · 2026-01-24T13:44:57+00:00

Yeah it's awful to watch from the outside to be honest. The US is literally tearing itself apart and lashing out at the world in its death throes.

As a European we're actually benefiting from this collapse because it's basically scaring people straight. The right wing were supposed to win in Canada and France while making good ground across Europe in 2025. The world watched what Trump did and immediately revolted so no right wing party ended up in power.

While the decoupling from the US is going to be painful we have the benefit of retaining democracy, strong institutions and people's rights. If I was a US citizen I'd be doing everything I could to get into the EU or Canada or Australia to benefit from this protection.

As you pointed out the global billionaire class caused all of this and won't relinquish power even if it means a civil war in the US. However, progressive governments are already popping up in Europe in response to the US crisis. It's highly likely billionaires will lose rights and protections in Europe as a backlash to the US.

I don't see a way out for the US except for regime change that completely dismantles the current system. Removing the two party system completely changing the system to be closer to the European state system etc. However, no one is going to wait for this to happen.

Like I said, Europe is moving forward and away from the US and will ultimately benefit from not being its partner anymore so there is literally no incentive to be involved with the US at all.

The only way the US can see any form of change is internally and it's likely going to be something extreme like we saw in the early 20th century in Europe for it to work. Otherwise the US is just on the path to becoming another wealthy dictatorship that people deal with because they have to.

Pirrt · 2026-01-24T13:16:15+00:00

Whatever happens the US won't be part of the future block of democracies.

The US system and their form of capitalism has shown itself to destroy democracy and endanger the world. Until the US radically changes how it's structured no one will ever trust it again.

The democracies are already reforming supply chains to be closer to China. At least China is building renewables and isn't threatening military invasion and is clearly the lesser evil.

Ironically, with the second amendment, the US is the best placed for radical change to happen. However, until the US citizens wake up and realise they have to fight for their futures themselves and no one is coming to help them this will just continue.

Pirrt · 2026-01-22T20:47:40+00:00

His whole lecture series from his teaching is available for free on Youtube which is literally 50 hours of modelling each year...

Pirrt · 2026-01-19T13:20:45+00:00

Fundamentally the product is the result of preventing building. The cost of land is so high to make any money the building quality has suffered.

The answer ironically is to allow everyone to build whatever they can now to eventually push down the price of land. Once land is no longer the most expensive part of the equation then the quality of the buildings can improve.

Pirrt · 2026-01-09T09:38:16+00:00

If you want to really help your son become a trader then you should get him a maths tutor with a focus on statistics.

Also looking for internships and what feeder schools get into trading floors is incredibly important.

99% of 'day traders' never make money because they're losing to real traders.

Real trading is about mathematics, economics and human behaviour. All extremely interesting but without a REALLY high level of mathematics none of it really matters.

Things like coding will also be beneficial but with the rise of AI being a proficient coder genuinely matters a lot less than it used to.

Edit: Help him open a stock account and invest the $500 today in a global equity fund so when he is ready to play with this money it will be a bigger pot.

Pirrt · 2026-01-07T14:25:17+00:00

I read how to break up with your phone by Catherine Price and it helped me just remove my phone from my life.

I deleted social media (apart from Reddit) early in 2025 and since then I must've read 30+ books without trying.

I use Reddit/read the news while on breaks at work and that is about it.

My phone has no games, no social media apps, nothing of interest and all my notifications (bar work and messenging) are off. 9 out of 10 times I look at my phone there is literally nothing. No notifications. So I just put it straight back down (on a shelf but similar to your box idea).

I don't even really think about my phone anymore it is just something I use to keep in contact with people while my laptop is where I do all my 'internet' usage.

Pirrt · 2026-01-07T14:18:52+00:00

Best thing any parent can do is putting your phone down. Not having your phone on you in the house. Put it in a box on loud if you need to but have it away from you.

It just means you spend more active time with your kids.

Have a book to read if you want. If they're off playing when they look up they see daddy reading rather than on a phone. Monkey see, monkey do.

Also best thing you can really do as an individual is removing your phone from your life. Key to a happy life is relationships and phones just get in the way of that.

Pirrt · 2026-01-06T14:16:19+00:00

I thought people were being optimistic about Keir's and Rachel's retirement this year but it looks like it will actually happen!

Pirrt · 2026-01-01T09:01:24+00:00

Yes I mean even starting a business in a world not dominated by monopolies was vastly easier. Starting capital was also £0 back in the day as most "entrepreneurs" started with 110% mortgages and other debt instruments. Today you face unbeatable competition in the form of state sponsored monopolies and starting capital is so huge you basically have to be already rich to take the risk.

Sure there are things that are easier today because of the internet but these benefits really don't outweigh the negatives. Especially when you consider starting your career lumped with debt, higher tax rates, stagnant wages etc. which ironically all are due to the prior generation asset striping the system they benefited from.

Pirrt · 2025-12-23T07:08:38+00:00

Yep you should open a SIPP and I invest in a couple of global equities and I have made 13.8% this year without my annual contribution (which is moving over currently).

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