Renters pushed to breaking point as Britain's selfish homeowners gloat their hands

chucknorris

ukcarper wrote: »

Although I agree that high house prices are not a good thing for the majority. You make a couple of assumptions that I disagree with, not every landlord is over indebted and would be in trouble if interest rates increased I suspect that the majority wouldn't although their profits would reduce. Secondly a lot of the people who would have been badly effected by high interest rates (which were not solely to protect housing market) were recent buyers who are no different to the people trying to buy now.

I accept that rates will go up at some time, I definitely don't need them to stay low, even though it has been a great run, obviously a bit longer would be even better. When rates do rise I will merely return to normal profits if the base rate went back up to 5.5%, but I think that is still some years away. I only hoped initially for 3 years of a 0.5% base rate, the >6 years has been great for profits. I also imagine that many homeowners have had a chance to pay off a significant part of their mortgages, during this period of low rates too.

ruggedtoast

caronoel wrote: »

Back to the OP's comical little rant.

£1,500 rent, eh?

£1,500 would roughly equate to a 95% long term fixe rate mortgage on a property worth £300k-350k.

Just popping that price range into Rightmove for a 2+ bedroom place in London brought up more than 1,000 places:
http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E87490&insId=1&radius=0.0&minPrice=300000&maxPrice=350000&minBedrooms=2&maxBedrooms=&displayPropertyType=&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&newHome=&auction=false

:eek::eek:

Surely this really does evidence that now is a great time to buy to lock in your housing costs for 5 years at £1,500 pcm, and not need to worry about rising rents or being chucked out by your LL at a moments notice.

Such a no brainer to buy now that even ruggedtoast has done it

:rotfl::rotfl::rotfl:

I think it's rather more evidence that you have no comprehension of how hard it is for a normal person to save the £25k - £30k deposit, application and moving fees to get a 95% mortgage on a £350k 2 bedroom property while they are paying £1500 a month rent.

cells

The London plan says the need for new homes in London is over 60,000 a year. The build rate is about one third of that so you can imagine what has happened to rents and prices and what will continue to happen while the new build rate is only one third of whats needed just to stabilise things

HAMISH_MCTAVISH

cells wrote: »

The London plan says the need for new homes in London is over 60,000 a year. The build rate is about one third of that so you can imagine what has happened to rents and prices and what will continue to happen

Supply and demand in action.

I really have no idea why people get so worked up trying to insert morality into what is fundamentally an economic issue.

If society wants cheaper house prices and rents, then society needs to build a couple of million more houses, and quickly...

ukcarper

ruggedtoast wrote: »

I think it's rather more evidence that you have no comprehension of how hard it is for a normal person to save the £25k - £30k deposit, application and moving fees to get a 95% mortgage on a £350k 2 bedroom property while they are paying £1500 a month rent.

Isn't that part of the problem if they were to share while saving they could save at least half that £1500 probably more.

POPPYOSCAR

Cornucopia wrote: »

Apologies for stealing your thunder.

On a more general note, what do you think the thread title is supposed to mean?

Is it a typo, the keyboard equivalent of mouth-frothing, or some HPC-spk that I'm not party to?

Yes I was wondering the same.


How exactly do you "gloat your hands"?

mwpt

HAMISH_MCTAVISH wrote: »

If society wants cheaper house prices and rents, then society needs to build a couple of million more houses, and quickly...

Righto then. If I have the cash, can I pick a bit of land somewhere and go build my own home, like I could do in so many other countries?

ukcarper

mwpt wrote: »

Righto then. If I have the cash, can I pick a bit of land somewhere and go build my own home, like I could do in so many other countries?

The self build argument is a red herring no where near enough people would build their own home.

ruggedtoast

ukcarper wrote: »

Isn't that part of the problem if they were to share while saving they could save at least half that £1500 probably more.

You seem to think that everyone renting a house is a twenty something surrounded by iPhones and used tickets to Magaluf.

There are plenty of working people renting in London in their thirties and forties who simply cannot buy and are stuck with the private rental sector to provide them with a family home to have kids in before they get too old.

ukcarper

ruggedtoast wrote: »

You seem to think that everyone renting a house is a twenty something surrounded by iPhones and used tickets to Magaluf.

There are plenty of working people renting in London in their thirties and forties who simply cannot buy and are stuck with the private rental sector to provide them with a family home to have kids in before they get too old.

They should have thought about that before starting family. If they are in their forties they could have bought when prices were much lower. I don't think saving is an issue if you are determined you can save I know people who have. The issue is earning enough to get that £325k mortgage but if they are they could save.