Why buy – ever?

CLAPTON

The-Joker wrote: »

Its a redundant argument about immigrants increasing demand. The only demand increase comes from people who can afford the crazy asking prices.

If you go by the perm prop bulls supply demand argument, then go to these overflowing refugee camps. Loads of demand and very little supply of houses.

Immigration increases population

population increase demand

demand and supply determine price in a reasonably free market place at the point of exchange

virtually 99.9999% of the people in the country live somewhere so have an effect on demand.

migration affects price.

cells

going from memory Germany biggest private landlord a listed REIT owns 300,000 homes and charges on average 390 euro (~£280) a month in rent for a 70sqm apartment

That is a cheaper than even council homes in the UK

At those prices indeed most people would rent happily but the UK is not Germany the difference is about 13 million homes and a surplus vs a shortage

Landofwood

Why buy ever? It's a little bit like growing up.

I don't wanna have to call someone to ask for permission to paint their walls. "Please Sir may I kindly have permission to paint the walls of your house?".

I don't wanna speak to the landlord when something breaks, I wanna get my screwdriver out and tinker.

Financial calculations have been done-to-death and I'm not interested in profiting from a home. But if I had to go back to renting, it would feel like a backwards life-step.

uncreative

We have just bought our home after years of renting and I cant tel you hwo much more secure I feel. We were on a months notice and if the landlord stopped paying their mortgage, or wanted us out, or wanted to put the rent up we were stuffed. Having kids at school you need stability and now that we have our own place (with a repayment mortgage over 20% cheaper than renting) we definitely feel better.

patanne

The advantages of buying over renting are numerous and the only negative is that you are responsible for all upkeep. The main advantages -

If you retire after paying off your mortgage as is the norm (yes I know not always) then you have much more disposable income in that retirement. No-one (unless you are really foolish) can make you move, the same is not true if you are renting. The thought of going into my seventies and eighties with a landlord telling me I had to move because they are selling up would fill me with horror and if one of the parties had some dementia would seriously affect them.

There are also the choices that you get when you own. You can future proof your house (my current project) would your landlord agree to what you need to do - I doubt it.

I think renting is fine when you are young but to have to move your children's school because your landlord wants you out. I am just so grateful that I have never needed to rent as I don't think I would cope well with the insecurity, but I guess that is my problem!

Germany has a higher state pension which with lower rents and more security of tenure makes renting when older a more realistic proposition.

mayonnaise

Electrum wrote: »

Why buy – ever?

In your case, with your rent paid by the taxpayer, it's probably better to keep renting yes. Enjoy it while it lasts.

Electrum wrote: »

Im on JSA and over the benefits cap.

Basically because of housing benefit and Child tax credits I get my total benefits reduced by the amount of JSA I should be getting before the cap.

So If I do a little work here and there, and declare the earnings, it would be taken off my JSA would it not? But my benefits wouldnt actually go down as long as I only earn a little, I would still be getting £500week.

Would it complicate my claims for housing benefit or would I even need to tell them?

And by the way, 'doing a little work here and there' while on JSA is illegal.

PasturesNew

Ban sex. That's what's causing the increased demand!

westernpromise

Out,_Vile_Jelly wrote: »

That's far too mature and civilised to ever take off here.

If people could be more confident about pensions, that could help houses be considered less as assets and more as useful places to live.

A very good point. Pretty well everywhere else you can put money has been relentlessly attacked for the last 15 years. Part of the appeal of property is that it isn't cash so it's harder for the state to expropriate.

If you're a top rate tax payer you lose your personal allowance and are specifically and spitefully excluded from things like the tax free savings wheeze. I reckon the next thing higher rate tax payers will lose will be their ISA allowance, which of course will send even more money into property.

westernpromise

CLAPTON wrote: »

Immigration increases population

population increase demand

demand and supply determine price in a reasonably free market place at the point of exchange

virtually 99.9999% of the people in the country live somewhere so have an effect on demand.

migration affects price.

And since it is hard to build houses here, they all have to fit into the same housing stock. Thsi means higher density, which means renting.

westernpromise

TheCountofNowhere wrote: »

People like this demonstrate how disgusting this forum is. How dare you suggest that people who rent are less grown up?

Shameful.

PS. I won't post again.

Says the moral incompetent who spends all his time at HPC wishing ill on people he envies, so he can profit personally.

To be honest, you've been so utterly wrong for so long that your judgement - hence your views - count for literally nothing.