Rents Continue Rising

Wee_Willy_Harris

chucknorris wrote: »

I know it isn't about me (or you)

Well, at last you seem to have comprehended that simple point.......

chucknorris wrote: »

....but you are just too timid and fearful you will never own a business of any kind because you are far too bearish.

.... Oh dear, spoke too soon.

chucknorris

Wee_Willy_Harris wrote: »

Well, at last you seem to have comprehended that simple point.......



.... Oh dear, spoke too soon.

YOu are not paying attention, because you are too timid you are interpretting the effects too harshly, the market is nowhere near as bad as you think it is. Please try and keep up.

Wee_Willy_Harris

HAMISH_MCTAVISH wrote: »

Yes, it is.

The changes are being applied initially for new applicants only, and then also for renewals later.

Nope. Changes applied to new claims with immediate effect and existing claims on their anniversary. So, it will take just ONE year for ALL existing claims to have the new rates applied. (Hint: You get an anniversary EVERY year).

I'm very surprised that you didn't understand that. Perhaps that isn't the pulse you have your finger on after all?

HAMISH_MCTAVISH wrote: »

Absolutely untrue.

There is no compounding effect, and no reduction in the 30th percentile, because a sudden influx of people looking for lower end rents will inevitably push those rents up.

Example.

Range of one bed flats = £100 per week to £200 per week.

30th percentile = £130.

Demand doubles for all flats between £100 and £130, as all those on benefits currently living in a range of 50% of housing are forced into a range of 30% of housing. Price inevitably increases to £130 for all flats at the bottom end. New range = £130 a week to £200 a week.

30th percentile now £150 per week......

You just don't understand percentiles, do you?

Wee_Willy_Harris

chucknorris wrote: »

YOu are not paying attention, because you are too timid you are interpretting the effects too harshly, the market is nowhere near as bad as you think it is. Please try and keep up.

I keep telling you, this ISN'T about you or me. Please try looking at the bigger picture.

chucknorris

Wee_Willy_Harris wrote: »

I keep telling you, this ISN'T about you or me. Please try looking at the bigger picture.

Jesus are you really this slow? The bigger picture is fine, its your view of the bigger picture which is incorrect!

Wee_Willy_Harris

chucknorris wrote: »

Jesus are you really this slow? The bigger picture is fine, its your view of the bigger picture which is incorrect!

Then let's discuss that, without recourse to your own personal circumstances. How is my view incorrect?

chucknorris

Wee_Willy_Harris wrote: »

Then let's discuss that, without recourse to your own personal circumstances. How is my view incorrect?

Sorry this will have to wait I am playing chess now.

HAMISH_MCTAVISH

Wee_Willy_Harris wrote: »

Nope. Changes applied to new claims with immediate effect and existing claims on their anniversary. So, it will take just ONE year for ALL existing claims to have the new rates applied. (Hint: You get an anniversary EVERY year).

I'm very surprised that you didn't understand that. Perhaps that isn't the pulse you have your finger on after all?

Oh dear.....

From the direct gov website.

For new claimants:

If you are making a new claim for Housing Benefit, these changes will apply to you from this 1 April 2011.

For existing claimants:

If your circumstances don’t change, you will continue to get the same rate of Local Housing Allowance as you get now. This will continue for nine months after your local authority next assess your Housing Benefit, after 1 April.

Example:

Willy is assessed in March 2011. Willy gets the old higher rate. Willy is re-assessed in March 2012. Willy then gets 9 more months at the old rate.

Gosh, I'm very surprised you didn't understand that..... Perhaps that isn't the pulse you have your finger on after all?

You just don't understand percentiles, do you?

Wow. Coming from you, that's a remarkably ballsy statement.

Tell you what genius, perhaps you'd care to explain how squeezing a group of people that previously had access to all housing up to the 50th percentile, into a smaller range of housing up to the 30th percentile, isn't going to result in rent increases at the bottom end.

You really don't understand supply and demand, do you?

Wee_Willy_Harris

HAMISH_MCTAVISH wrote: »

Oh dear.....

From the direct gov website.

For new claimants:

If you are making a new claim for Housing Benefit, these changes will apply to you from this 1 April 2011.

For existing claimants:

If your circumstances don’t change, you will continue to get the same rate of Local Housing Allowance as you get now. This will continue for nine months after your local authority next assess your Housing Benefit, after 1 April.

Example:

Willy is assessed in March 2011. Willy gets the old higher rate. Willy is re-assessed in March 2012. Willy then gets 9 more months at the old rate.

Gosh, I'm very surprised you didn't understand that..... Perhaps that isn't the pulse you have your finger on after all?

So, 21 months maximum? NOT the 2 years you stated? Let's call that a draw.

HAMISH_MCTAVISH wrote: »

Wow. Coming from you, that's a remarkably ballsy statement.

Tell you what genius, perhaps you'd care to explain how squeezing a group of people that previously had access to all housing up to the 50th percentile, into a smaller range of housing up to the 30th percentile, isn't going to result in rent increases at the bottom end.

You really don't understand supply and demand, do you?

Because ...

a. Fewer people will be chasing more stock at the higher end of the market.

b. Those claiming LHA have a finite resource. LLs can only charge, at the end of the day, what tenants can afford.

It's called a "market".

HAMISH_MCTAVISH

Wee_Willy_Harris wrote: »

So, 19 months maximum? NOT the 2 years you stated? Let's call that a draw.

Well, technically, if your rent was assessed on March 30th 2011, and next assessed on March 30th 2012, you'd have 21 months, not 19 months. (I take it simple addition isn't your strong point then?)

Which is far more consistent with my "phased in over 2 years" comment, than your "it will take just ONE year for ALL existing claims to have the new rates applied." Which was just, well, spectacularly wrong.

Anyway, lets move on.

Because ...

a. Fewer people will be chasing more stock at the higher end of the market.

b. Those claiming LHA have a finite resource. LLs can only charge, at the end of the day, what tenants can afford.

It's called a "market".

*sigh*

So much ignorance, such little time.....

The numbers of people chasing stock at the high end of the market, ie, the 50th percentile to the 100th percentile, will remain unchanged.

The number of people chasing stock between the 1st percentile and the 30th percentile will increase dramatically. There aren't enough houses in this percentile range, so prices will inevitably increase rapidly.

The current 30th percentile, will likely then become the new 1st percentile quite quickly. And the new 30th percentile will be close to where the old 50th percentile was.