More Conservative policy on housing revealed

Guy_Montag

olly300 wrote: »

But life is unfair....

(Sorry I couldn't resist) I just think it's a waste of taxpayers, including my, money.

I wrote that too, but deleted it.

BobProperty

Guy_Montag wrote: »

This apparently happened to some of my family after the 19xx rent act (not sure which one, it was a few generations ago).

It's interesting that countries like Germany, &, I think, France seem to manage with security of tenure & rent controls & have a far greater proportion of renters than here.

In part though, isn't that because they are more conservative in their lending policies for mortgages so, unlike here or the US, you'd never get a self-cert, 100%, blank-cheque type loan to NINJA types. (NINJA = No Income No Job or Assets)

Melissa177

One of the problems with this document is that there is a lack of meat for FTBs, who are being massively hit at the moment.

If you were in government, what would you do to alleviate the plight of FTBs? I personally think the main problem that FTBs have (esp in London) is raising the deposit. Stamp duty is yet another slug of upfront cash required by an FTB in London, so why not abolish stamp duty for FTBs?

This might be a bit difficult to administer in practice, but what do others think? Any better ideas?

epz_2

Melissa177 wrote: »

This might be a bit difficult to administer in practice, but what do others think? Any better ideas?

make more houseing, tax the hell out of empty properties, compulsory purchase of any deralilict/no tax paying property empty for over 5 years to be sold at auction, better transport links to allow commuting over greater distances and freeing up planning controls. FTB's problems are the price of housing, everything else is just a symtom.

regarding the tory policys, well as a pretty right wing voter my heart sinks every time the torys come out with a policy. they allways seem so craven or pathetic that it would be stupid to vote for them.

if they seriously want to buy the votes of lower income voters, why not increase amount you can earn before paying tax, it reduces burocracy, combats the advantages of the black economy which wouldnt pay tax and directly rewards people who work.

olly300

Melissa177 wrote: »

One of the problems with this document is that there is a lack of meat for FTBs, who are being massively hit at the moment.

Getting rid of stamp duty for FTB will just increase house price inflation and will be easily open to abuse.

One of the reasons why so many people want to buy their own homes is lack of security of tenure for renting. If you know you could stay in a house for a long time, decorate it and structural repairs would be done then most people wouldn't bother to attempt to buy especially if they are on a low income. Other European countries are an example of this. (I know their risk adverse credit structure helps.)

Basically more housing not just flats need to be build, for both long term renting (but not in the form of council homes where people can stay there for ever even if the property is clearly to big) and buying, AND all government departments need to be moved outside the South East as other businesses will follow.

guppy

Guy_Montag wrote: »

So I'm pretty well paid & all I can afford is a run down two-bed terraced in a run-down area, & that's in the cheapest part of the country.

What about someone who isn't that well paid? How can they aspire to own their own home? Not 10% of it, but 100% free & clear? What is the point in slaving away in a factory for £12k pa when house prices are rising faster than you can earn, let alone save, the money? Better to take the dla & try to get a council house, at least then you might be able to get it at a knock-down rate.

Bizarre isn't it...I'm very interested in the future social implications if this trend continues.

I find it ironic that there are plenty of middle to late aged people who probably never earned as much as you, but now find themselves owning houses someone like yourself on a very good wage can only dream of...

I think a short term fix to the problem would be to strengthen the rights of tenants, who needs home ownership if you can rent for a reasonable amount with good security of tenure...

Melissa177

olly300 wrote: »

Getting rid of stamp duty for FTB will just increase house price inflation and will be easily open to abuse.

One of the reasons why so many people want to buy their own homes is lack of security of tenure for renting. If you know you could stay in a house for a long time, decorate it and structural repairs would be done then most people wouldn't bother to attempt to buy especially if they are on a low income. Other European countries are an example of this. (I know their risk adverse credit structure helps.)

I think you make a really good point with your first paragraph, BUT, I think us British are a nation of home-owners. We all desperately want to own our own home, even if the bank really owns 90% of it. What do people do when they reach retirement, and they've lived in a rented property all their lives?

Hmm, I've yet to be convinced for the need for security of tenure. Perhaps extending the min 2 months notice required to, say, 6 months, might be better.

Guy_Montag

guppy wrote: »

Bizarre isn't it...I'm very interested in the future social implications if this trend continues.

I find it ironic that there are plenty of middle to late aged people who probably never earned as much as you, but now find themselves owning houses someone like yourself on a very good wage can only dream of...

I think a short term fix to the problem would be to strengthen the rights of tenants, who needs home ownership if you can rent for a reasonable amount with good security of tenure...

Don't get me wrong, I don't believe I deserve a mansion for my labours, but a two-bed terraced house in a nice(ish) area would be nice.

In general I am against anything that gives someone an advantage over another person for an arbitrary reason.

lynzpower

What do people do when they reach retirement, and they've lived in a rented property all their lives?

Use thier pension income.

Use the moneythey have saved by not paying mortgage interest all thier lives.

Have support from the benefits sytstem, are housed by NHS under continuing care.

i think this stamp duty thing is a huge red herring. Ive yet to hear of a single FTB either on here or in real life that is seriously put off buying cos of the stamp duty. Its just a fact of life- you dont hear FTB saying "i could buy a flat, but I cant afford the solicitors fees so I wont proceed" people write this into thier budgets.

Reducing stamp duty for FTBs will create yet more divide betweeen those whove paid it and those who havent, will rock the housing market even further if FTBS wait until it comes in- instead of buying now ( who in thier right mind wouldnt) and is just yet another tory we'll reduce taxes, meaning less in the pot.

If they wanted to really show willing, Id like to see every penny of stamp duty spent on low cost secure accomodation for families that cannot be sold off on RTB. And for RTB to be repealed accross the board. And for them to wholly accept the negative mark that RTB has put on housing pressure accoss the board.

I feel very strongly about this, if Any senior conservative had to do what I had to do for 5 years telling disabled, elderly and those who are very vulnerable with children ( escaping domestic violence for example) they have to stay in hostels from here on in as the housing stock was so limited people would stay on the list for 8 years plus, Id hope they would have the insight to say, OK we were wrong.

BobProperty

epz wrote: »

make more houseing, tax the hell out of empty properties, compulsory purchase of any deralilict/no tax paying property empty for over 5 years to be sold at auction, .....

Given that some LA's have 11% voids that would be futile. On the other hand I do suspect that most empty property is LA owned, sometimes for good reasons.