Good Old Fergus!

Cakeguts

James_Green_1982 wrote: »

That's true.
But just above them is a level of would be buyers, who are presently tenants. They pay the same (or more) in rent than a mortgage would cost. Those are the people who are bringing this to the politicians' agenda. These are the tenants who want to replace their current landlords as the owners of the properties they live in.

I think the government also want to achieve this. But the government don't want to see house prices drop. Hence the HTB stuff going on.

Now what would happen if all those landlords sold these properties to the tenants I described? I don't think prices would really be affected. Because supply / demand has not really altered. You still have the same number of households in the same number of houses.

The insecure tenants you describe, would only really benefit from a massive drop in house prices. eg down to £20k for a house would probably be required.

You haven't accounted for tenants who need to rent while their homes are repaired after a flood or fire or those who want to rent because it suits them. People tend to think that people rent because they can't afford to buy but it is far more complicated than that.


As regards the wealth thing. There are gas engineers who make their entire livings checking gas appliances in private rented housing.

James_Green_1982

Cakeguts wrote: »

You haven't accounted for tenants who need to rent while their homes are repaired after a flood or fire or those who want to rent because it suits them. People tend to think that people rent because they can't afford to buy but it is far more complicated than that.


As regards the wealth thing. There are gas engineers who make their entire livings checking gas appliances in private rented housing.

I agree that there are plenty of people who benefit from a private rental market. It is especially helpful for labour mobility of workers, students etc. It would be a shame if it was killed off.
As a home owner, the rental market doesn't really affect me - apart from making a decision not to get involved with BTL.

I was pointing out the changes I see happening as the political pendulum swings. My opinion on the morality of those changes is irrelevant.