When will London burst ?

lisyloo

Sabrina2000 wrote: »

The talk is that the cap will apply to those working or not, £23K, lots of landlords must be getting worried.

Can you clarify where that "talk" comes from.
On the bus? down the pub? public gallery of the house of parliament?

Killerseven

lisyloo wrote: »

Can you clarify where that "talk" comes from.
On the bus? down the pub? public gallery of the house of parliament?

A few people are saying its for working people as well, it will only affect low paid workers in London. They will have to move out.

Either London wil be the dirtiest city in the world or clever will need to be paid £40 hr,

Or rents will fall. I think the latter

Mallotum_X

Central London house prices fall 'by up to 22%' - report

House prices in the smartest parts of London have fallen by up to 22% since last Autumn, according to the property services group LSL.
The company said that Kensington and Chelsea had seen prices plummet by 16% since a peak in September 2014.
In Westminster it claimed there had been a fall of 22% between a peak in November, and the end of May.

http://www.bbc.co.uk/news/business-33086002

Crashy was right....

However prices in the London suburbs - and other parts of England and Wales - continued to hit new highs, said LSL.

Or maybe not...

caronoel

lisyloo wrote: »

Can you clarify where that "talk" comes from.

The voices in Crashy's head

NorthFin

OhWow wrote: »

Benefits have pushed rents up. They are using the same to lower rents.

I dont think they want to lower rents, its just they cant afford to keep propping them up so high. If these cuts go ahead for everyone working or not, then rents will fall. Either that or there will be record numbers of evictions due to not being able to afford the rents out of their own pockets.

I suspect a bit of both.

nannytone wrote: »

as a singleton, perhaps.
but even a couple, with children, both working full time on NMW won't earn enough to support their family without some type of benefit top up.

a joint income of £500 a week will not pay rent ( unless social housing is available) council tax and day to day expenses for a family of 4, even with no childcare costs, in any of the london boroughs

So if the proposed cuts go ahead, are we really talking about ALL the low income families being forced to live outside London? Either that or rents will come down to correct levels they should have been without the artificial prop called high housing benefit payments!

NorthFin

Shortage of supply matters zip in the many slums and refugee camps around the world.

They have the real housing supply shortage at lowest ever levels on record, but all that matters is how many can afford the current prices!

[Deleted User]

NorthFin wrote: »

how many can afford the current prices!

Once you have removed 0% interest rates and "help to buy (votes)" ponzi schemes, virtually nobody.

wotsthat

NorthFin wrote: »

Shortage of supply matters zip in the many slums and refugee camps around the world.

They have the real housing supply shortage at lowest ever levels on record, but all that matters is how many can afford the current prices!

We're not talking about shortage of supply in refugee camps.

We're talking about London where there's not only a shortage of supply but available credit and jobs to finance the credit.

Perhaps increasing numbers can afford the current prices which is why they're bidding up in the face of an acute shortage of supply.

Some good news in Westminster though where prices are down and a car parking space can be had for only £100k.

cells

Killerseven wrote: »

A few people are saying its for working people as well, it will only affect low paid workers in London. They will have to move out.

Either London wil be the dirtiest city in the world or clever will need to be paid £40 hr,

Or rents will fall. I think the latter

poor people dont only rent privately rented homes

a lot of poor people rent council homes, nearly a million such homes in London

also some poor people own, some even own outright

So if 100,000 poor private renters move out of London, there will still be space for two or more million poor people

cells

ciaccino wrote: »

Once you have removed 0% interest rates and "help to buy (votes)" ponzi schemes, virtually nobody.

someone i know just got offered a job paying £75k basic and about double that once incentives are included and he is going in at the very bottom of the company which employs 750 people at his office......and he was a bit !!!!ed off that his mate was offered a similar role elsewhere for £140k basic plus incentives.

the financial services (and even some of the legal and accounting jobs) in London pay very well