Would you march for more affordable housing?

jojo1964

I own my own home, a simple 3 Bed house, housing my family of 5 and claim nothing in benefits, no tax credits at all, yet have a "social housing" property next door where the rent costs are in excess of £1400 a month " going rate for my area approx. £800-1000 a month), so nothing fec kless about my circmstances, yes i am enjoying record low interest rates, but when i first bought i was paying approx. 14% rates, yet i dont remember the outcry that house buyers were paying high interest rates which benefitted savers, its all swings and roundabouts.

Savers had it good a decade or so ago, yet now its the mortgage payer who has the upper hand, and no doubt the situation will change over the coming years, so less of the moaning about low rates for savers, and remember when we had to pay out, while savers reaped the rewards of high rates.

carolt

Yes

So why would you not want the rent of your neighbour's house to drop, along with all similar houses - we'd all be paying less in benefits!

How can you fail to get/respond to this rather basic point???!!!

ukcarper

It's not only renters that have savings my mortgage has dropped 1% my saving rates have dropped 2.5%. I might be wrong but I don’t think the only reason interest rates were cut was to reduce mortgages

carolt

Yes

ukcarper wrote: »

It's not only renters that have savings my mortgage has dropped 1% my saving rates have dropped 2.5%. I might be wrong but I don’t think the only reason interest rates were cut was to reduce mortgages

No, but it was the main one.

Lower rates have not benefitted those with loans, credit cards or other forms of debt - they've all gone up.

Only mortgage holders have actually benefitted.

chucky

ukcarper wrote: »

It's not only renters that have savings my mortgage has dropped 1% my saving rates have dropped 2.5%. I might be wrong but I don’t think the only reason interest rates were cut was to reduce mortgages

carolt wrote: »

No, but it was the main one.

Lower rates have not benefitted those with loans, credit cards or other forms of debt - they've all gone up.

Only mortgage holders have actually benefitted.

no it wasn't, that's one dimensional thinking and wrong to think that - it was done to improve the velocity of the money supply and make GBP cheaper amongst other macro economic reasons.

not house prices or mortgages. it has certainly helped many but not as many as people on here would like to think.

ukcarper

I'm not sure it was the main one and most mortgage holder have not benefited that much as very few have trackers and most SVRs haven’t dropped that much.

carolt

Yes

Oh come off it, the housing market was about to implode, and that was at the heart of Gordon's economic miracle.

Couldn't be allowed to happen.

jojo1964

carolt wrote: »

So why would you not want the rent of your neighbour's house to drop, along with all similar houses - we'd all be paying less in benefits!

How can you fail to get/respond to this rather basic point???!!!

I dont fail to get the point, personally i would prefer to see ALL subsidising of housing stopped, inclding inflated social housing rents, forcing the market to adapt to realistic prices, might be a bitter pill to swallow for some, but tough.

baby_boomer

Trouble is, the housing benefits also subsidise the wages market.

carolt

Yes

No, it subsidizes the landlords' pockets.

That's not a wage. A wage is what you get for actually doing something. Any more than my savings earning interest in the bank is a 'wage'.