arrears have increased by 340% following the housing benefit cuts

black_taxi_2

where I live 2bedroom flats hav dropped 5% since one bedroom tax announcement and one bedroom flats hav held there price or gone up,all the cost of this farce will change nothing.

E.L.James

There was that thread on here saying rents are falling 10% in London.

CLAPTON

black_taxi wrote: »

where I live 2bedroom flats hav dropped 5% since one bedroom tax announcement and one bedroom flats hav held there price or gone up,all the cost of this farce will change nothing.

from what you are saying, it appears things have changed

E.L.James

The changes have not yet had the big effect. Many households affected by the cuts are still in arreas and have not yet been enforceable evicted yet.

Or they find the money from savings or something to keep paying the high rents.

But as the next round of cuts comes in after October, more downwards pressure will be put on rents and then property prices.

black_taxi_2

the idea for the gov was to save money,people move to 1 bedroom flats,but there rents hav shot up,so no savings

wotsthat

E.L.James wrote: »

The changes have not yet had the big effect. Many households affected by the cuts are still in arreas and have not yet been enforceable evicted yet.

Or they find the money from savings or something to keep paying the high rents.

Some households rather spoilt the crashaholic party by turning to the world of work to fund the shortfall.

E.L.James wrote: »

But as the next round of cuts comes in after October, more downwards pressure will be put on rents and then property prices.

Maybe - don't hold your breath for too long.

E.L.James

wotsthat wrote: »

Some households rather spoilt the crashaholic party by turning to the world of work to fund the shortfall.



Maybe - don't hold your breath for too long.

Thats right dont hold your breath, I am looking at the next decade, so the year 2023.

During that time, the housing benefit will have to be cut back a long long way, and interest rates will have corrected back to long term norms.

Then housing costs will have corrected also back to long term norms.

wotsthat

E.L.James wrote: »

Thats right dont hold your breath, I am looking at the next decade, so the year 2023.

During that time, the housing benefit will have to be cut back a long long way, and interest rates will have corrected back to long term norms.

Then housing costs will have corrected also back to long term norms.

So the 'big thing' that's happening in October is going to take a decade to play out?

If you're 13 don't worry about it. If you're 23 keep saving just in case housing costs don't fall to meet your budget.

grizzly1911

black_taxi wrote: »

the idea for the gov was to save money,people move to 1 bedroom flats,but there rents hav shot up,so no savings

If someone can't/won't pay the "bedroom tax" and is effectively forced to leave the existing property will they still receive HB contribution towards a private rental property.

Depending on circumstances could that HB be more than they were receiving in social housing? Presumably they wouldn't need to meet a bedroom stipulation providing the HB covered the rent?

CLAPTON

grizzly1911 wrote: »

If someone can't/won't pay the "bedroom tax" and is effectively forced to leave the existing property will they still receive HB contribution towards a private rental property.

Depending on circumstances could that HB be more than they were receiving in social housing? Presumably they wouldn't need to meet a bedroom stipulation providing the HB covered the rent?

presumbaly the vacated property will not remain empty so presumably some-one from private rental could move in and so savings could arise?

overall, if there is a redistribution of larger families to larger properties and smaller families to smaller properties then there will be more happy larger families whilst providing adaquent housing for smaller families.

whether there is an overall reduction in total cost of housing is more difficult to determine but one would expect so.