First Time Buyers Hit By Record Rents

Pimperne1

As a landlord I take no satisfaction from this.

There is little that could crash the BtL market in my view but one thing which might would be a co-ordinated refusal to pay increases in rent for a protracted period. A small number of tenants couldn't swing this but a campaign by a large number of disaffected tenants could (and they would probably have widespread public support if landlords were seen to be profiteering).

Anyway, up for discussion.

http://www.insidehousing.co.uk/tenancies/first-time-buyers-hit-by-record-rents/6517296.article

doire_2

First-time buyers are being prevented from saving for a deposit due to record rents

:rotfl::rotfl::rotfl:

Yeah all their money goes on rent doesn't it?

HAMISH_MCTAVISH

Pimperne1 wrote: »

There is little that could crash the BtL market in my view but one thing which might would be a co-ordinated refusal to pay increases in rent for a protracted period.

Don't be daft Pimp.

There's precisely zero chance of that happening.

Given the extreme housing shortage, tenants are very lucky indeed to be paying as little rent as they are. If it wasn't for the BTL boom transferring stock from O/O to Rented, rents could well be double what they are today.

Now admittedly, house prices would then be around 7% lower, but the biggest beneficiaries of the BTL boom by far have undoubtedly been renters.

Generali

HAMISH_MCTAVISH wrote: »

Don't be daft Pimp.

There's precisely zero chance of that happening.

Given the extreme housing shortage, tenants are very lucky indeed to be paying as little rent as they are. If it wasn't for the BTL boom transferring stock from O/O to Rented, rents could well be double what they are today.

Now admittedly, house prices would then be around 7% lower, but the biggest beneficiaries of the BTL boom by far have undoubtedly been renters.

The increase in quality and availability of rented accommodation in the UK between 1987 when friends first started renting places and 2008 when I left the UK was phenomenal. I wouldn't like to comment on the market in the last 3 years.

The biggest risks for BTL IMO is the lack of liquidity in the housing market (in the places in which 95% of us live there appears to be basically no housing market) and the Government cutting whatever housing benefit is called these days. If you cut demand at the bottom of the rental market, everyone above will have to cut prices to slot into their place in the market.

Pimperne1

You don't see this happening then?

http://www.guardian.co.uk/world/2011/jul/17/tel-aviv-tent-city-house-prices

The housing equivalent of the "Arab Spring"?

HAMISH_MCTAVISH

Pimperne1 wrote: »

You don't see this happening then?

http://www.guardian.co.uk/world/2011/jul/17/tel-aviv-tent-city-house-prices

The housing equivalent of the "Arab Spring"?

There are times when I miss the rolleyes smiley.

This would be one of them.;)

Generali

Pimperne1 wrote: »

You don't see this happening then?

http://www.guardian.co.uk/world/2011/jul/17/tel-aviv-tent-city-house-prices

The housing equivalent of the "Arab Spring"?

It's possible.

What's also possible is increased sharing of property: people going to live at their Mum's place or sharing with another couple for example.

A couple I used to know raised their kid for a couple of years in a 'bender' (a European yurt I guess) in the woods because he couldn't afford rent, didn't want to claim dole and didn't want a council house. Maybe that's the way forward.

Really2

Generali wrote: »

It's possible.

What's also possible is increased sharing of property: people going to live at their Mum's place or sharing with another couple for example.

A couple I used to know raised their kid for a couple of years in a 'bender' (a European yurt I guess) in the woods because he couldn't afford rent, didn't want to claim dole and didn't want a council house. Maybe that's the way forward.

I must admit I don't fancy a "bender" in the woods. Some will though.

Pimperne1

Really2 wrote: »

I must admit I don't fancy a "bender" in the woods. Some will though.

There will be someone here in 5 minutes that I think might.

PasturesNew

If you're upwardly mobile, do you go from a bender in the woods, to cottaging?

Road_Hog

Pimperne1 wrote: »

As a landlord I take no satisfaction from this.

There is little that could crash the BtL market in my view but one thing which might would be a co-ordinated refusal to pay increases in rent for a protracted period.

I too am a landlord.

What tenant that is living in rented accommodation is going to want to risk being evicted? Which is what happens when you stop paying the rent.