Kirstie Allsopp's reaction to the STRs

**Kirstie Allsopp's reaction to the STRs**, also known as **Kirstie Allsopp's reaction to the people who sold to rent**, is a video by Bruno which shows a clip from the news.

## Script

Bruno: Kirstie Allsopp's reaction to the people who sold to rent (the STRs)

News anchor 1: Do you think as a rule of thumb we should sell up, bank the money and rent?

Kirstie: Oh Alice, it's such a good thing that I'm not in the studio because I'm so angry. That kind of thing is so irresponsible. Everyone has a right to make money in their own way, but to set up a website that is attempting to spread rumors about a market crash, causing misery to millions of people. I mean it's like starting a rumor that there's smallpox in the water because you have the patent of a smallpox vacuum- vaccine. Hey I can hardly speak, I'm so cross \*laughs\*. I really really think that it's irresponsible. The web has enormous power these days, which we all recognize. We are of course all constantly concerned and talking about property prices, but the idea that a group of people who fancy taking a year out, which wouldn't we all love to do if we didn't have to pay our mortgages, think they can take a year off to start a website which causes panic and then come back, to find the prices have gone down and they've made money, just makes me see red.

News anchor 2: But apart from them Kirstie, might there not be some people who have every right perhaps?

News anchor 1: I'd be very careful \*they all laugh\*

News anchor 2: That's funny. To maybe decide they want to play the market in this way, I mean it could work for them I suppose is what I'm asking.

Kirstie: In the stock market there's rules against this kind of thing, you know, there are insider trading regulations, that kind of thing. And I totally appreciate people paying the property market- oh I can feel my face going red. I understand as I said, people start to make money, but I do think this is the type of website which is trying to start a panic. There isn't going to be a market crash. There may well be a leveling off in the prices, which is something we've all been praying for, for years. But the couple who sold their house a year ago, I do feel sorry for them, because they would have seen that house go up in value over the last year. And with stamp duty and agents fees, you'd have to be looking at a 20% market crash, in order simply to break even, if you came out of the current market for more than a year. So you have to be very very careful because you really could lose money this way.

News anchor 1: Quick final thought on that one, the whole buy to rent business. I read something in one of the Sunday papers, that the lenders are now making it slightly easier on the multiples, how much you can borrow on the rest of it. Because rents are now actually beginning to come down so it could all unravel anyway.

Kirstie: Of course that's right it could unravel. There's no doubt about that, but it's very unlikely because we have to go back to the 2 things which ground us. Interest rates are historically low, despite the rises we've had recently, and employment is very very high. And as long as we have those 2 factors, it's incredibly unlikely. The last property crash was when we had interest rates at 14-15%. And we just haven't got that situation and are unlikely to have it.

News anchor 2: Kirstie, thank you very much indeed, always nice to talk to you.

## Trivia

In one of Bruno's videos, he repeats what Kirstie says. Clips of the video are on Free Bruno Powroznik's channel.