Why the bad news for landlords is just beginning

GreatApe

ukcarper wrote: »

He might and still not be able to find affordable accomadation near work.

So what? The solution is according to you what? A 70% house price crash a 70% rent price crash? Again your trying to think of an economic question in terms of a moral one. 'I regard nurses as moral important hard working people so they should be able to buy £500,000 houses however I do not want to pay them £100,000 each as that would involve me putting my hand in my pockets instead I am going to try and crash London prices by 70% because that is possible and a great good!'


but of course we actually know that people on the lowest possible wages in the UK can live in London there are plenty of them around. They rent and the state pays for it. If you feel like they deserve to buy then maybe the state should hand them over £500,000 instead? Or maybe the state should go out and buy a few hundred thousand properties in London at £500,000 a piece and then rent it out to the nurse for £400 per month?

GreatApe

economic wrote: »

they can find somewhere to rent. doesnt have to be next door to work. try zone 4-6

There is no economic right to do a certain job in a certain area and expect a certain quality of life. what makes it even more bizarre is to rank professions on our own moral judgement of their importance and then instead of suggesting paying those people a sum to meet what our judgement say they should be able to afford we say those things they can not afford should be legislated to a price they can afford them

Also not surprisingly our moral friends tend to find state workers to idolize and never seem to cry about the lot of vital private sector workers or even the self employed. No for them economics is economics if you are stacking shelves in a Tesco store in inner London then you are free to move to Stoke, Mr Wind does not want to pay twice as much for his London groceries so the shelf stacker can have a more comfortable life

ukcarper

GreatApe wrote: »

So what? The solution is according to you what? A 70% house price crash a 70% rent price crash? Again your trying to think of an economic question in terms of a moral one. 'I regard nurses as moral important hard working people so they should be able to buy £500,000 houses however I do not want to pay them £100,000 each as that would involve me putting my hand in my pockets instead I am going to try and crash London prices by 70% because that is possible and a great good!'


but of course we actually know that people on the lowest possible wages in the UK can live in London there are plenty of them around. They rent and the state pays for it. If you feel like they deserve to buy then maybe the state should hand them over £500,000 instead? Or maybe the state should go out and buy a few hundred thousand properties in London at £500,000 a piece and then rent it out to the nurse for £400 per month?

I've already said what I think about the solution

ukcarper

GreatApe wrote: »

There is no economic right to do a certain job in a certain area and expect a certain quality of life. what makes it even more bizarre is to rank professions on our own moral judgement of their importance and then instead of suggesting paying those people a sum to meet what our judgement say they should be able to afford we say those things they can not afford should be legislated to a price they can afford them

Also not surprisingly our moral friends tend to find state workers to idolize and never seem to cry about the lot of vital private sector workers or even the self employed. No for them economics is economics if you are stacking shelves in a Tesco store in inner London then you are free to move to Stoke, Mr Wind does not want to pay twice as much for his London groceries so the shelf stacker can have a more comfortable life

There might not be a right but there is a need for all levels of jobs and I don't think it's unreasonable for the people doing them to have secure affordable accommodation.

ukcarper

economic wrote: »

they can find somewhere to rent. doesnt have to be next door to work. try zone 4-6

£1000 a month couple of monthly travel cards £450 rates £150.

Windofchange

What I said:

"It is about recent graduates, middle managers, basically anyone who is not earning in excess of £50k a year."

What you heard:

Jack_Johnson_the_acorn wrote: »

You posted earlier that it's a terrible thing that a debt filled grad earning £25k cant buy a piece of London property.

:T

Windofchange

GreatApe wrote: »

...I regard nurses as moral important hard working people....

But on the other hand...

GreatApe wrote: »

Sympathy: feelings of pity and sorrow for someone else's misfortune.

What good is it to pity someone
What good is it to feel sorry for someone
What can a nurse do with your sympathy?

Best thing to do is automate away the risky difficult low pay jobs. It was a positive development when the manual coal mining jobs disappeared and it will be a positive when the droids replace the nurses

economic

ukcarper wrote: »

There might not be a right but there is a need for all levels of jobs and I don't think it's unreasonable for the people doing them to have secure affordable accommodation.

but this is it. they do have secure affordable accomodation. they can rent!!

ukcarper

economic wrote: »

but this is it. they do have secure affordable accomodation. they can rent!!

Renting does not have security of tenure.

Windofchange

Jack_Johnson_the_acorn wrote: »

...I bet you work in the NHS and that's why you're so upset that your example I.E you, can't afford a decent property in London.

Yup, I work in the NHS.

As for the rest of it - a post of mine from Feb 24th of this year:

Windofchange wrote: »

...Your point about abolition of stamp duty doesn't add up. If it were abolished it wouldn't affect our ability to afford a 1.5 million pound house. It wouldn't allow someone with a 1 bed flat they'd sold up the road for 400k to buy our 2.5 bed for 850k...

You see, I'm not coming at this from a point of anger / jealousy over the current situation. I am more than content with my lot in life. If anything I should be out partying every night and patting myself on the back. Do I think that our 2.5 bedder should have gone up in price by £400,000 in the last 5 years? No. Our house has earned more in 5 years than I have! Does this help at all in illustrating the madness to you of the current situation, certainly in London / The S.E? Our house has earned £80,000 a year doing nothing. Our house is in the 98th percentile of earners in the UK.

What good does this do us? If we want to get a terraced house in the same neighbourhood it is £1.3 - £1.5 million. I'd quite happily take a 50% crash tomorrow. We still have most of our 450k equity, the house we want is now 650 - 750k.

What we've arrived at is stagnation. I can't move because it's not worth my time / money (or I haven't got the money!). First time buyers are priced out. The older generation aren't downsizing because it's not worth it. Everything has stuck.

I'm not a nurse, but work alongside plenty. This video from 2014 is perhaps prophetic given the silent revolution that has occurred with Brexit and Trump. Worth a watch.

https://www.ted.com/talks/nick_hanauer_beware_fellow_plutocrats_the_pitchforks_are_coming

(Edit - link doesn't work. Search for Nick Hanauer in the box presented and click on the talk from there)