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Debate House Prices
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How would you go about providing rental properties?
If this a separate question? Because it sounds like you're implying HTB results in more housing. We had a functioning rental market before HTB.
I would not target providing rental properties specifically but rather make sure OOs and BTL were on roughly equal footing when competing on price. I wouldn't do this through HTB props, I would do it by reducing the leverage BTL can use from other properties and the other measures government seem to be doing. I would remove all HTB schemes. I would force councils to grant more planning. I would implement the tenancy laws I posted on a different thread.
Unfortunately the last of my measures is in hindsight only, it is this: I would have regulated that mortgage rates could not drop below a certain point and that banks should maintain a ratio of business to residential lending, so that all the cheap money they've been provided with didn't just channel into yet another property price boom.0 -
I don't agree that we had a functioning housing market before BTL the number of council houses and private rental properties was reducing and there was nothing to replace them. Personally I would have preferred it if council housing had not been sold without replacing them but that didn't happen and it's extremely unlikely that it will happen now. No large institutions are prepared to build properties to rent, perhaps some incentives could be offered to encourage them.If this a separate question? Because it sounds like you're implying HTB results in more housing. We had a functioning rental market before HTB.
I would not target providing rental properties specifically but rather make sure OOs and BTL were on roughly equal footing when competing on price. I wouldn't do this through HTB props, I would do it by reducing the leverage BTL can use from other properties and the other measures government seem to be doing. I would remove all HTB schemes. I would force councils to grant more planning. I would implement the tenancy laws I posted on a different thread.
Unfortunately the last of my measures is in hindsight only, it is this: I would have regulated that mortgage rates could not drop below a certain point and that banks should maintain a ratio of business to residential lending, so that all the cheap money they've been provided with didn't just channel into yet another property price boom.
We need more houses and that will reduce demand and therefore rents tinkering around the edges won't .0 -
I don't agree that we had a functioning housing market before BTL the number of council houses and private rental properties was reducing and there was nothing to replace them. Personally I would have preferred it if council housing had not been sold without replacing them but that didn't happen and it's extremely unlikely that it will happen now. No large institutions are prepared to build properties to rent, perhaps some incentives could be offered to encourage them.
We need more houses and that will reduce demand and therefore rents tinkering around the edges won't .
Sorry, I haven't been in the UK long enough to contradict what you say, but I regard the above as an anecdote with bias towards BTL. Therefore I'll disregard it until I get evidence that we had a badly functional rental system before the rise of BTL. Besides, you've somehow diverted the topic to something else. I do not want my tax money being used to prop up the demand side of the housing market. I don't have to justify that statement with how I'd provide rental accommodation because implicit in that question is that somehow HTB is providing rental accommodation. Bizarre.0 -
If it's ok by you I also think the HTB concept is a load of turd. I don't want my tax money being used to prop up high house prices.
Perhaps you can explain how I've diverted the topic from the post I replied to.Sorry, I haven't been in the UK long enough to contradict what you say, but I regard the above as an anecdote with bias towards BTL. Therefore I'll disregard it until I get evidence that we had a badly functional rental system before the rise of BTL. Besides, you've somehow diverted the topic to something else. I do not want my tax money being used to prop up the demand side of the housing market. I don't have to justify that statement with how I'd provide rental accommodation because implicit in that question is that somehow HTB is providing rental accommodation. Bizarre.0 -
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Oh god look.....
Bruce Banner, on 30 Oct 2015 - 10:58 AM, said:
I'd have to draw about £350K out of the bank to buy a suitable house. Currently that's earning about £10K a year in various savings accounts protected by the FCS guarantee, my rent is about £11K and includes maintenance etc. Since I expect house prices to fall, renting is still the obvious choice.
Lets think about this.
He lives on his own in Eastbourne as far as I can remember.
There you go mate. You'll only have to draw out 250K now.:beer:
http://www.rightmove.co.uk/property-for-sale/property-51286801.html
Thank me when you move in...We love Sarah O Grady0
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