The rental trap

cashbackproblems

I know immigrants who have opened a small shop turned it into a stylish barbers and work 7 days a week 10-7, and slowly they'v integrated, bought houses/cars and earn thousands per week just from hard work.

Jimmy_31

cashbackproblems wrote: »

I know immigrants who have opened a small shop turned it into a stylish barbers and work 7 days a week 10-7, and slowly they'v integrated, bought houses/cars and earn thousands per week just from hard work.

I know ones that do nothing and get thousands in handouts from the government.

DervProf

THE_SLUMDOG_GHUOLS wrote: »

If you can't work and save as hard as we all did then you don't deserve the title 'home owner'.

I managed without having to work and save too hard, just work and save. I count myself lucky, and don't say to the next genereation "tough, you'll just have to work harder".

Some of these bulls can come out with this sort of thing, but I wonder how they would get on today, if there were trying to buy their first place ? No doubt many would probably manage, but they'd surely find it tougher than, say 15 years ago.

HAMISH_MCTAVISH

taughmon wrote: »

Even many left wing politicians are now concerned at the huge numbers that have entered our country without an expansion in housebuilding.

Then build more houses.

Immigrants are a net economic benefit the the nation and we need plenty more of them.

DervProf

HAMISH_MCTAVISH wrote: »

I'm not sure what the point of this thread is.

1. Houses are expensive.

Yes, can't disagree with that.

2. Renting sucks.

Yes, can't disagree with that either.

3. The changes in the banking system have made it much harder for youngsters to buy.

You'll certainly not hear me arguing with that.

But we do hear you calling for banks to make it easier for youngsters to "buy" the expensive houses you mention in your first point.

If you think houses are expensive, try looking at it from a youngster's point of view. Do you really think it is wise to offer them the money required to buy these expensive houses ? Yes, if the youngsters have enough income, they should have the opportunity to buy their first place, and they certainly can now, without too much trouble.

HAMISH_MCTAVISH

DervProf wrote: »

But we do hear you calling for banks to make it easier for youngsters to "buy" the expensive houses you mention in your first point.

If you think houses are expensive, try looking at it from a youngster's point of view. Do you really think it is wise to offer them the money required to buy these expensive houses ? Yes, if the youngsters have enough income, they should have the opportunity to buy their first place, and they certainly can now, without too much trouble.

Derv, we've seen the results of not lending.

Several hundred thousand FTB-s a year are stopped from buying, the builders have all but stopped building, rents are soaring, and the housing shortage is worsening.

Mortgage lending is around 65% lower than it was at peak. House prices are just 10% below what they were at peak.

Your "solution" is not working. It's making things worse.

DervProf

HAMISH_MCTAVISH wrote: »

Your "solution" is not working. It's making things worse.

Your "solution" will only help matters in the short term, and is essentially what caused the problem in the first place.

HAMISH_MCTAVISH

DervProf wrote: »

Your "solution" will only help matters in the short term, and is essentially what caused the problem in the first place.

I'd argue the opposite.

It's the lack of mortgage funding that's worsening the housing shortage.

Builders won't build what they can't sell. And without a massive increase in building, there can be no long term solution.

taughmon

I am out of here... Lol

Sorry but you chaps are at war, and I am not really after taking a side, very few of you are debating, most of you are thinking "what is the best thing I can say to win my argument", whether its the truth or not is irrelevant. . I am neither a bull or a bear, I simply want to buy a house now and I cannot. Being told I am not worthy or I am destined to die in my bedsit is frankly pathetic, it really is playground stuff on here. Its either black or white, win or lose, bull or bear, some of you cannot see what is staring you all in the face, just about all of you are fearful, and at least I have the honesty to admit I am as well.

Just one other thing, I would say that most of you so called die hard bulls are probably the most bearish here, that's why most of you are so aggressive and try so hard to destroy whatever possibility comes along that could end you fragile dreams, and you bears do the same in reverse.

There are issues within the property market today, if you guys want to ignore it, fine

DervProf

HAMISH_MCTAVISH wrote: »

I'd argue the opposite.

I knew you would.

May I suggest (as I may have suggested before) that if the banks can be "forced" to lend to FTBs, then they should be forced to lend to builders also ?

PS. Regarding the post above, I'd rather think that Hamish and I are not "at war", but having a reasonably decent debate on this Sunday afternoon. We may not agree, but that doesn't mean we are "at war".