HPC thread of the week

wotsthat

Crashy_Time wrote: »

But I am only paying 50 p.m more than I did in the late 90`s for a similar flat (different end of the city though) A landlord can ask whatever they like in rent on Rightmove, doesn`t change the fact that a renter has paid the same rent more or less for a number of years? The sensible landlords charge rates that will get them long term tenants, the ones who hold out for 600-700 p.m get tenants who don`t know the city/country and move on quickly to house shares or cheaper deals. Rightmove is only one tiny aspect of the renting landscape.

I didn't mention Rightmove.

I know, and I think you do too, that the places you used to rent for £350/ month are probably now occupied by people paying somewhat more than £350/ month. That's because rentals have increased in price in Edinburgh in the last 20 years - I don't know why this is even up for discussion.

You might be paying the same but that's a different issue. If rent has increased in Edinburgh (it has) over the last two decades then you've either had to compromise on quality, become a better buyer or both.

Of course you only have yourself to consider so any compromises are completely up to you which helps but I doubt you currently live somewhere as nice and as conveniently located as the place in the link you provided.

Out,_Vile_Jelly

If renting is suiting your lifestyle Crashy that's great.

Many people get to a point where the pros of renting are no longer appropriate to their particular lifestyle, so they buy. They then generally get on with their lives. I think most would be bemused to learn of a forum where people devote time to tracking house prices in areas they have no plans to live, and convincing each other that renting is always great and anyone who chooses otherwise is a deluded lunatic.

There's nowt as queer as folk on t'internet I suppose.

mwpt

TheeMaskedTurnip wrote: »

I severely doubt Martin would advise anyone renting over 20 years. Why pay off someone else's mortgage for them when you could pay your own?

Maybe for similar reasons that financially literate people on these boards advise not paying off your mortgage too quickly.

Why do people come here to educate themselves but are willfully blind to any alternative but owning=good renting=bad?

Crashy_Time

wotsthat wrote: »

I didn't mention Rightmove.

I know, and I think you do too, that the places you used to rent for £350/ month are probably now occupied by people paying somewhat more than £350/ month. That's because rentals have increased in price in Edinburgh in the last 20 years - I don't know why this is even up for discussion.

You might be paying the same but that's a different issue. If rent has increased in Edinburgh (it has) over the last two decades then you've either had to compromise on quality, become a better buyer or both.

Of course you only have yourself to consider so any compromises are completely up to you which helps but I doubt you currently live somewhere as nice and as conveniently located as the place in the link you provided.

20 years ago would be 1995, I didn`t live in Edinburgh then and don`t know anything about Edinburgh rents then, does stretching the time frame somehow help your argument? The whole point of what I am saying is that the present flat is almost identical in size and layout to the original 350 p.m one, and the price is only 50 p.m more, that means that no matter what your internet searches tell you, and no matter how hard you wish it wasn`t so rents here have basically flat-lined, because if you look for them the deals are there.


The house in the link wasn`t conveniently located, it was near a crap bus route and one shop, but a nice house with big walled garden in a well to do area. Present flat is much more conveniently located for public transport and shops, although obviously not as posh.

Crashy_Time

Out,_Vile_Jelly wrote: »

If renting is suiting your lifestyle Crashy that's great.

Many people get to a point where the pros of renting are no longer appropriate to their particular lifestyle, so they buy. They then generally get on with their lives. I think most would be bemused to learn of a forum where people devote time to tracking house prices in areas they have no plans to live, and convincing each other that renting is always great and anyone who chooses otherwise is a deluded lunatic.

There's nowt as queer as folk on t'internet I suppose.

The flip side is pretending that there hasn`t been a massive bank engineered housing bubble, and that people who took on massive loans to join the party won`t be in any trouble. No one is saying that renting is always great (although my experience has been 99% positive) just that renting can be cheap and the ideas put about in the press, and here sometimes, that renters are being squeezed dry because they didn`t/couldn`t buy are often far wide of the actual reality.

ukcarper

Crashy_Time wrote: »

The flip side is pretending that there hasn`t been a massive bank engineered housing bubble, and that people who took on massive loans to join the party won`t be in any trouble. No one is saying that renting is always great (although my experience has been 99% positive) just that renting can be cheap and the ideas put about in the press, and here sometimes, that renters are being squeezed dry because they didn`t/couldn`t buy are often far wide of the actual reality.

This is where your arguments falls down there has been a massive bank engineered housing bubble but rents haven't increased.

Conrad

Crashy_Time wrote: »

The flip side is pretending that there hasn`t been a massive bank engineered housing bubble, and that people who took on massive loans to join the party won`t be in any trouble. No one is saying that renting is always great (although my experience has been 99% positive) just that renting can be cheap and the ideas put about in the press, and here sometimes, that renters are being squeezed dry because they didn`t/couldn`t buy are often far wide of the actual reality.

Just for interest I wanted to mention LBC's James O'Brien's oft' stated view on this. His a self confessed hand wringing lefty but always bangs on about the security of home owning, as he puts it "if the wheels on my life fall off one day at least I'll have a whacking great asset I can fall back on"

What he means is he can always downsize one day and live debt and rent free.
I've seen how retired tenants can become very unhappy with their relative insecurity and lack of owning their own little bit of Earths crust.

lisyloo

What he means is he can always downsize one day and live debt and rent free.

This is fine if you have housing excess to your needs.
For most normla families that won't be the case.
Lots of people seem to think they can have their home AND the benefit of the asset and you can't have both at the same time. Stating the obvious but if you need to live in it you can't generally benefit from the equity (the exception being equity release of course - but there's still a price to pay).

wotsthat

Crashy_Time wrote: »

20 years ago would be 1995, I didn`t live in Edinburgh then and don`t know anything about Edinburgh rents then, does stretching the time frame somehow help your argument? The whole point of what I am saying is that the present flat is almost identical in size and layout to the original 350 p.m one, and the price is only 50 p.m more, that means that no matter what your internet searches tell you, and no matter how hard you wish it wasn`t so rents here have basically flat-lined, because if you look for them the deals are there.

Your rent might have flat-lined and you've made that clear. You seem to be struggling with the concept that you're not the market and only part of it.

Market rents have increased pretty much everywhere in the last 20 years (or 17/18 if that really makes a difference). Every single place you've ever rented will be occupied by people paying significantly more rent than you did.

The market isn't full of people that can/ or want to check the ads in the newsagents and up sticks whenever the rent goes up. You're an outlier - you must have noticed?

Conrad

lisyloo wrote: »

This is fine if you have housing excess to your needs.
For most normla families that won't be the case.
Lots of people seem to think they can have their home AND the benefit of the asset and you can't have both at the same time. Stating the obvious but if you need to live in it you can't generally benefit from the equity (the exception being equity release of course - but there's still a price to pay).

In reality many can and do downsize.
In Mr O'Brien's case he would sell his Shepherds Bush house and move out to Shropshire environs from which he hailed.

My Mum downsized to Wales and almost all locals there are retirees that did similar.

Who wants to be a renter aged 65, what an insecure bleak future!
Selling your home might enable the realisation of a dream such as buying in France and offering holiday lettings as friends of ours have.