Why the bad news for landlords is just beginning

AFF8879

ukcarper wrote: »

Renting does not have security of tenure.

By that logic, though, you could argue everyone deserves "security of tenure". Nurses do an important job but so do teachers, police officers etc. And even outside of the public sector, the economy needs shop assistants, waiters, etc. These professions generally do not live hand to mouth but there will always be lower paid professions in extremely expensive cities.

It would be unfair to intervene in favour of low-paid workers when others have worked extremely hard to put themselves through uni, etc and still can only obtain a "middle income" i.e. above average salary but still unable to afford to own a home.

ukcarper

AFF8879 wrote: »

By that logic, though, you could argue everyone deserves "security of tenure". Nurses do an important job but so do teachers, police officers etc. And even outside of the public sector, the economy needs shop assistants, waiters, etc. These professions generally do not live hand to mouth but there will always be lower paid professions in extremely expensive cities.

It would be unfair to intervene in favour of low-paid workers when others have worked extremely hard to put themselves through uni, etc and still can only obtain a "middle income" i.e. above average salary but still unable to afford to own a home.

I think all workers deserves security of tenure and it doesn't follow that people on lower incomes have not worked hard.

GreatApe

ukcarper wrote: »

I don't think windofchange is saying that just that as it stands they can't buy anywhere. I don't think HMOs are the answer they are OK for young workers but not older more experienced workers, council housing used to go someway to solving the problem but now they seem to becoming increasingly occupied by non workers.

I think one of the things that is happening that is pricing normal people out is that with the increasing population areas that were not so desirable and therefore more affordable are becoming gentrified.

I personally can't see a solution to the problem but I see it as a problem some people obviously don't .

Windofchange wrote: »

Yup, I work in the NHS.

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



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)

How can you conclude that today is the abnormal priced environment instead of 5 years ago when you bought in the midst of a recession and financial crisis?

Windofchange

GreatApe wrote: »

How can you conclude that today is the abnormal priced environment instead of 5 years ago when you bought in the midst of a recession and financial crisis?

We were in the midst of a recession and financial crisis 5 years ago?

System

GreatApe wrote: »

How can you conclude that today is the abnormal priced environment instead of 5 years ago when you bought in the midst of a recession and financial crisis?

He didn't buy 5 years ago.

BobQ

Windofchange wrote: »

The solution is for prices to come down. Whether this is achieved through Brexit, interest rate rises, BTL taxes, whatever. I don't think houses should be given away to people - please don't join the other two on here, you strike me as more intelligent.

As for a possible solution, I would like to see housing built that is linked with inflation. Let's build the houses as a country, sell them off to cover the land and build costs, plus perhaps a bit extra for the trouble and then limit what people can make on the flip side.

I believe this scheme exists already in the UK, I just can't locate the link currently. Housing that is owned at a fair rate, but that can't quadruple in value every 10 years. Buy a house for 200k, inflation at 2% p.a. you sell it for 210k in 5 years time. Tax payer doesn't lose out, future generations don't lose out.

The solution in my view is to skew planning regulations so that it is difficult to build business premises and housing in areas of expensive housing, and easy in areas of low prices. That would drive businesses to the regions and encourage people to move there and require infrastructure to grow in those areas. It would also mean that places like London would find it impossible to grow bigger, and nurses and teachers would be difficult to recruit unless more realistic pay was offered.

AG47

The planning laws are relaxing, there will be a lot more properties built on unused land in coming years, but this will only compound the problems for property owners.

It will be very good news for the majority of the population though, who do not own property, and they are the votes that the government want to win.

Zxcv_Bnm

AG47 wrote: »

It will be very good news for the majority of the population though, who do not own property

The majority of the population already do own property.

economic

AG47 wrote: »

The planning laws are relaxing, there will be a lot more properties built on unused land in coming years, but this will only compound the problems for property owners.

It will be very good news for the majority of the population though, who do not own property, and they are the votes that the government want to win.

hahah making stuff to suit your interests does it?

Jack_Johnson_the_acorn

Zxcv_Bnm wrote: »

The majority of the population already do own property.

He's a deluded lunatic. He has been caught out several times for lying about his vast property empire when he was actually in masses of debt claiming housing benefit and tax credits.