Albert Tatlock Posted May 1, 2008 Share Posted May 1, 2008 If house prices don't hold up in the UK, but hold up on the island...it'll be fun trying to recruit people to sell up in the UK and come to live here to work. Equally, if UK nationals already working here and have a house, and can get a house far cheaper in the UK, they'll be more tempted to cash in and sell up. In the meantime, too many pensioners are being allowed to retire here and take up many of the houses that first time buyers would have gone for 10/20 years ago (pensioners doubled between 2001 and 2006). Something is going to go pop in the Manx economy at some stage if the balance isn't righted. Link to comment Share on other sites More sharing options...
Deejay Denzel Posted May 2, 2008 Share Posted May 2, 2008 Luckily I got a mortgage before al this "credit crunch" business took hold, Banks are being over catious now says the bank of England which is causing problems with mortgage products and rates. Link to comment Share on other sites More sharing options...
ai_Droid Posted May 2, 2008 Share Posted May 2, 2008 If house prices don't hold up in the UK, but hold up on the island...it'll be fun trying to recruit people to sell up in the UK and come to live here to work. Equally, if UK nationals already working here and have a house, and can get a house far cheaper in the UK, they'll be more tempted to cash in and sell up. In the meantime, too many pensioners are being allowed to retire here and take up many of the houses that first time buyers would have gone for 10/20 years ago (pensioners doubled between 2001 and 2006). Something is going to go pop in the Manx economy at some stage if the balance isn't righted. Do you have any figures that suggest that retiree's on the island cost more than they earn the treasury? Besides, I don't agree that wealthy relocators avoiding UK CGT are taking first time buyers homes. It's a completely different price bracket. Link to comment Share on other sites More sharing options...
Roger Smelly Posted May 2, 2008 Share Posted May 2, 2008 Ever heard of the words "down" & "size" What a lot of the pensioners are doing is selling up in the uk and buying a smaller house here and then enjoying the equity they have made. This means they are actually buying property that most first timers are after. Or is that too simple ? Link to comment Share on other sites More sharing options...
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