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Rent problems

macaque_2
macaque_2 Posts: 2,439 Forumite
in Debate House Prices & the Economy
This is bad news for everyone, but particularly painful for renters.
Debt advice charity helpline National Debtline has seen an 84% increase in the number of people calling for help with rent arrears since the credit crunch began in 2007.

http://www.bestadvice.net/story.php?id=21751
«1

Comments

  • purch
    purch Posts: 9,865 Forumite
    What did they say when you called them :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • julieq
    julieq Posts: 2,603 Forumite
    Once again, it's a headline figure that appears to tell a story, but it doesn't baseline the numbers as a percentage of the total, and it also ignores the fact that more people are renting. And who is putting the figures into a press release? Ah yes, a charity that exists to help people with advice on arrears. In other words a VI.

    If, in a recession, arrears didn't rise, it'd be amazing. If arrears were a problem to landlords then they'd exit the market. They're not exiting the market, if anything the reverse. Therefore this is not a problem for the market in general, or for landlords or renters in particular.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    julieq wrote: »
    Therefore this is not a problem for the market in general, or for landlords or renters in particular.

    Indeed.

    Rental arrears are falling.

    Just 8.6 per cent of rent was unpaid or late by the end of September 2011. This was down from the 10.7 per cent of rent unpaid or late in August.

    Unpaid rent totalled £243million September, down from the £300million figure from the previous months.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    Ouch, that julieq mctavish tag teaming has left this thread reeling.
  • Jimmy_31
    Jimmy_31 Posts: 2,170 Forumite
    HAMISH_MCTAVISH wrote: »
    Indeed.

    Rental arrears are falling.

    Just 8.6 per cent of rent was unpaid or late by the end of September 2011. This was down from the 10.7 per cent of rent unpaid or late in August.

    Unpaid rent totalled £243million September, down from the £300million figure from the previous months.

    So lots of people cannot afford to pay their rent.

    This probably means a fair few BTL landlords are in arrears on their mortgage.

    Never mind eh.
  • Jimmy_31
    Jimmy_31 Posts: 2,170 Forumite
    julieq wrote: »
    Once again, it's a headline figure that appears to tell a story, but it doesn't baseline the numbers as a percentage of the total, and it also ignores the fact that more people are renting. And who is putting the figures into a press release? Ah yes, a charity that exists to help people with advice on arrears. In other words a VI.

    If, in a recession, arrears didn't rise, it'd be amazing. If arrears were a problem to landlords then they'd exit the market. They're not exiting the market, if anything the reverse. Therefore this is not a problem for the market in general, or for landlords or renters in particular.

    The only landlords entering the market around here are the ones who have had to go back to their mams and rent their own house out because they cant keep up the repayments.

    Plenty of houses and flats available for the BTL crowd to buy but for some reason they are still sitting on the market.
  • macaque_2
    macaque_2 Posts: 2,439 Forumite
    julieq wrote: »
    Once again, it's a headline figure that appears to tell a story, but it doesn't baseline the numbers as a percentage of the total, and it also ignores the fact that more people are renting. And who is putting the figures into a press release? Ah yes, a charity that exists to help people with advice on arrears. In other words a VI.

    If, in a recession, arrears didn't rise, it'd be amazing. If arrears were a problem to landlords then they'd exit the market. They're not exiting the market, if anything the reverse. Therefore this is not a problem for the market in general, or for landlords or renters in particular.

    Thank you for this post Julieq. I will repond to this with a question. Do you know what Horace Walpole called Mary Wollstonecraft?
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Jimmy_31 wrote: »
    The only landlords entering the market around here are the ones who have had to go back to their mams and rent their own house out because they cant keep up the repayments.

    Plenty of houses and flats available for the BTL crowd to buy but for some reason they are still sitting on the market.

    If I was younger I would certainly buy right now, but I'm 53 and I don't want to be a landlord too far beyond my mid 60's which means I will be selling up in about 10-15 years (depending on the market). It's just not worth getting involved for that short span of time, especially factoring in all the fees (stamp duty, estate agents at disposal, CGT (hopefully) etc).
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • crash123
    crash123 Posts: 399 Forumite
    chucknorris wrote: »
    If I was younger I would certainly buy right now, but I'm 53 and I don't want to be a landlord too far beyond my mid 60's which means I will be selling up in about 10-15 years (depending on the market). It's just not worth getting involved for that short span of time, especially factoring in all the fees (stamp duty, estate agents at disposal, CGT (hopefully) etc).


    But house prices will double in 5 years so you will make lots of money. Correct I read it on here.:j
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    Jimmy_31 wrote: »
    The only landlords entering the market around here are the ones who have had to go back to their mams and rent their own house out because they cant keep up the repayments.

    Plenty of houses and flats available for the BTL crowd to buy but for some reason they are still sitting on the market.

    Isn't that more likely to be because the area in which you live is relatively unattractive and impoverished?
This discussion has been closed.
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