Rent trap confounds dreams of a generation - landlord greed grows

ess0two

Rinoa wrote: »

Hmmm. It was the bears who wanted bank lending reined in.

"Stop the banks lending and house prices will plummet" they argued.

How silly do they look now. They still can't buy and their rents are soaring.

+1 should bring back 100% motgages.

ILW

Conrad wrote: »

Ok take me. I have just sold a property abroad.
I can CHOOSE to pay down my main mortgage, my sons want me to blow it on a car, but no, I will risk it in a B2L or two, with all the hassles that entails.

In return for this action I get a rent.
No one is forcing anyone to do a thing here.

How much of your cash are you risking today? Or are you greedily and cautiously building up your cash stocks?

Sort of fair point, but I cannot help but feel uncomfortable about a small amount of people in effect hoarding what is a limited and needed resource. Just doesn't seem quite right.

Conrad

Rinoa wrote: »

Hmmm. It was the bears who wanted bank lending reined in.

"Stop the banks lending and house prices will plummet" they argued.

How silly do they look now. They still can't buy and their rents are soaring.

I did a thread on here arguing exactly this outcome, back in 2008 I think it was.

The bears got thier way, now millions are hampered by a knowing nanny state that knows far better how to organise peoples lives!

Honestly if you guys could see the sickening wet behind the ears white middle class regulators in my industry, uttery clueless about the real world, all slapping one anothers backs with another good days work done. Not a clue they cause millions to rot in landlords clutches.

What's really hillarious is self cert lending books have on the whole performed very well. Classic case of misfiring regulation catching the wrong people in the net.

moneyinmypocket

There is a lot of jealousy here - landlords provide a service end of. Those who rent get a home to live in

Turnbull2000

How is hiking the rent greedy exactly? Is demanding a pay rise from your employer greedy too eh? Like any normal job, rents are a source of income and any sane person will seek to maximise said income as much as possible - whether its be pushing rents to a tenant's limit, or ensuring furnishings and repairs are as cheap as possible.

robmatic

Andrew Visser's four-bedroom home in the historic village of Mangotsfield near Bristol, with its views over rolling fields, is just the sort of place he had hoped to raise his two young children. Yet, despite earning a good salary as a software specialist, this 39-year-old does not own the house and sees no prospect of doing so.

Andrew and his wife Amy belong to Generation Rent, an army of millions, all locked out of home ownership in Britain. They are among 60,000 households who rent privately in the Bristol area, more than at any time since the second world war. Rents are being hiked up as demand outstrips supply and the average age of a first-time buyer in the city has risen to 37.

Why should we pay attention to a 39 year old mewling about having to rent a lovely family home? 15 years ago he would have had the opportunity of buying a place when property was historically cheap and by now he could have paid off the bulk of his mortgage.

robmatic

Jeez, it gets worse:

Andrew said: "We moved back to the UK from the US two years ago and had no savings or home equity. I make a good living and could afford to pay a mortgage but the down payment is a problem. I'd need a deposit of £40,000 to £50,000 to buy a similar home to the one we are renting."

Late 30s, good wage, no savings. Boohoo, broken housing market?

ruggedtoast

Turnbull2000 wrote: »

How is hiking the rent greedy exactly? Is demanding a pay rise from your employer greedy too eh? Like any normal job, rents are a source of income and any sane person will seek to maximise said income as much as possible - whether its be pushing rents to a tenant's limit, or ensuring furnishings and repairs are as cheap as possible.

This is what hubris was made for.

Fella

ruggedtoast wrote: »

Yeah, landlords are just falling over eachother in the race to provide the best service.

Actually sensible & successful landlords do exactly that. The basis of all good business is to provide something people want at a competetive cost.

The rest of your post doesn't even merit a response, just yet more dull class war garbage.

ILW

Fella wrote: »

Actually sensible & successful landlords do exactly that. The basis of all good business is to provide something people want at a competetive cost.

The rest of your post doesn't even merit a response, just yet more dull class war garbage.

Not when there is a shortage and demand outstrips supply, due to artificially restricted supply.