Renters at breaking point as house prices continue to rise

chucky

moneyinmypocket wrote: »

Why aren't renters taking advantage of low IR, HTB etc - there are bargins to be had out there.

Because it's too easy to whine on an Internet forum how unfair the 'system' is.

Conrad

House prices very topical on Question Time right now, being discussed for the last 20 mins. Capping Buy to let came up.

Bantex_2

Conrad wrote: »

House prices very topical on Question Time right now, being discussed for the last 20 mins. Capping Buy to let came up.

Just saw that, I was surprised at the level of anger at rising house prices. Sure it wasn't like that the last time prices shot up in the mid 2000s

ukcarper

Bantex wrote: »

Just saw that, I was surprised at the level of anger at rising house prices. Sure it wasn't like that the last time prices shot up in the mid 2000s

I'm not sure why you are surprised by the fact that people who don't own are concerned about rising house prices or that some people who own are also concerned.

chucknorris

Conrad wrote: »

House prices very topical on Question Time right now, being discussed for the last 20 mins. Capping Buy to let came up.

What method(s) of 'capping' were they discussing?

mayonnaise

Generali wrote: »

Renters are getting richer.

Indeed. And they are about to get even better off, as confirmed here:

http://www.mortgageintroducer.com/ccstory/249360/5/Living_standards_will_improve_in_2014.htm

Promisingly household disposable income will rise in real terms for the first year since 2009, as rents will grow by 1.7% annually while average earnings will increase by 2.2%.
Just 1.4% of all tenancies will face rent arrears, down from 2.3% in 2013.

Less tenants are encountering problems with arrears, as of Q1 2014 the number of UK households owing more than two months’ rent was 35% lower than the same period last year.

Tenant arrears fell to their second lowest rate on record in December, with just 6.9% of all rent late or unpaid as of February, compared to 7.4% the previous month.

Sorry for the lack of pictures and just stating facts.
Let's conclude:

The longest recession in living memory has been banished to the history books. And this year the squeeze on living standards is finally abating too

Hooray! :j
I'm sure even the biggest frothers on here can take some joy out of this marvellous news.

Generali

mayonnaise wrote: »

Sorry for the lack of pictures and just stating facts.

A renter amongst a bunch of non-renters:



Renting turns you yellow unfortunately.

danothy

Generali wrote: »

Renting turns you yellow unfortunately.

Can confirm, although I am unwilling to share the evidence.

ruggedtoast

Renters are only happy when they are young renters. I have friends trying to raise a family in a single skinned house in an industrial estate behind a John Lewis.

Its the only house in the industrial estate and was once an office until the rentier decided he could make a few bob with a can of Magnolia paint and a knocker.

It makes my blood boil. Landlordism is basically profiting from homelessness. People should only be allowed to be landlords if they themselves live in a rented property which is exactly the same as the worst one of the ones they are renting.

chucknorris

ruggedtoast wrote: »

People should only be allowed to be landlords if they themselves live in a rented property which is exactly the same as the worst one of the ones they are renting.

Back in 1999 I was rejected for a mortgage by Mortgage Express (I think that they may have been a Bradford and Bingley subsidiary) for an ex council flat because when I declared my other properties they accused me of lying saying that 'No one would live in an ex council flat and rent out a 3 bed Victorian luxury house'. In fact I did live in an ex council flat whilst renting that house out, and furthermore my next 3 places were also ex council flats while I still rented that house out. They couldn't understand my simple logic that although I owned that expensive house, the tenants were buying it for me, which they wouldn't have been if I had lived in it.


EDIT: Although I would currently fail your proposed criteria because the house we live in is probably the joint 2nd most expensive property that we own. But the cheapest is worth about £400k, is a £400k property not good enough for tenants?