Ownership amongst the young

Conrad

GreatApe wrote: »

He won't win. If somehow he could fill his party with his kind and win a massive majority he would likely put in place proper rent caps and start a government council House building program resulting in lower house and rent prices.

A mass of shiny new free or subsidised houses would exert a greater magnetic pull to the UK and thus demand goes up.


Rent caps - what happens when interest rate rise under Corbyn? Do Landlords evict renters having been forced to sell due to rising mortgage costs?


You would find even less supply of private rented property under such conditions.


Simplistic pennies from heaven solutions wont work

Chrysalis

economic wrote: »

you can do all that whilst renting. if someone cant afford to buy and wants to live in an area, they rent. simple. if they cant even rent there are benefits. there are not huge amounts of homeless people are there?

renting is often more expensive than buying

You seen the thread on here where a landlord was trying to charge over 2k a month rent for a 3 bed house which had no work done on it for over a decade?

I disagree with you, when you have to worry about moving every 6 months due to short 6 month tenancy agreements, letting fee's, ripoff rents, unable to fix problems in home due to reliance on landlord, this is not a good environment to start a family.

The main barrier to buying is satisfying a lender.

Renting in this country unless you have a social landlord is a joke. If its so good everyone would be renting.

I am surprised at the amount of people on this forum detached from reality.

HornetSaver

Chrysalis wrote: »

I am surprised at the amount of people on this forum detached from reality.

The most frightening thing is that they are not unrepresentative of their cross-section of society.

GreatApe

Chrysalis wrote: »

renting is often more expensive than buying

You seen the thread on here where a landlord was trying to charge over 2k a month rent for a 3 bed house which had no work done on it for over a decade?

I disagree with you, when you have to worry about moving every 6 months due to short 6 month tenancy agreements, letting fee's, ripoff rents, unable to fix problems in home due to reliance on landlord, this is not a good environment to start a family.

The main barrier to buying is satisfying a lender.

Renting in this country unless you have a social landlord is a joke. If its so good everyone would be renting.

I am surprised at the amount of people on this forum detached from reality.

private renting in this country is only a temporary tenure most people rent for a time and then buy or get a social house

iirc something like half of private renters in the uk have only been renting privately for 0-5 years. Only some quarter of private renters in the uk have been renting privately for more than ten years and of course some of them through choice/need to rent privately

Less than 5% of the uk are long term renters

It is largely an imagined problem especially for uk born citizens with uk born parents. They won the lottery of life at birth.

Windofchange

GreatApe wrote: »

On every reasonable metric house prices in 8 regions of the UK are cheap. Even if you disagree its foolish to rent and not buy because renting costs 6% while buying costs 2% so each year you own that there is no crash you are paying down 3-4% of the capital

That's the problem though, you aren't using reasonable metrics! You have a table with 2 x full time male earners and then have to use a 30 year mortgage alongside a 20% deposit to "prove" that areas are affordable. Oh and people can't have children of course, or any one of a number of exclusions you make.

You then make statements such as the above as if it is a conscious choice for people to rent as opposed to buying. There are plenty of people who have no choice. There are plenty who cannot save for a deposit, or can only save at a snails pace. This is because of life, not because they are out buying iPads and new cars. This is because they have bills, children, cars, whatever.

If you want an n = 1 example in return, I have already talked about how our flat has increased around 400k in value since 2012. In other words, our flat has earned around £80k a year. And this makes it affordable how? We between us earn well in excess of London average but couldn't afford to buy this flat today. You're talking about 22 - 24 x the median male salary for my borough. This isn't prime London either. You have got to be insane to say this is affordable!

Patrick_Stewart

Housing really is a problem. That's why there are so many new ones being built, but they aren't all entry level properties. There aren't that many first time buyers that can afford a new 2 bed house.

Renting and buying are both unaffordable, this is what happens when demand outstrips supply.


Sure you can rent and buy for almost nothing in some parts of the UK, but that's because our economy has become so restricted to the service industries and unbalanced, and focused in e.g. the South.

GreatApe

Windofchange wrote: »

That's the problem though, you aren't using reasonable metrics! You have a table with 2 x full time male earners and then have to use a 30 year mortgage alongside a 20% deposit to "prove" that areas are affordable. Oh and people can't have children of course, or any one of a number of exclusions you make.

You then make statements such as the above as if it is a conscious choice for people to rent as opposed to buying. There are plenty of people who have no choice. There are plenty who cannot save for a deposit, or can only save at a snails pace. This is because of life, not because they are out buying iPads and new cars. This is because they have bills, children, cars, whatever.

If you want an n = 1 example in return, I have already talked about how our flat has increased around 400k in value since 2012. In other words, our flat has earned around £80k a year. And this makes it affordable how? We between us earn well in excess of London average but couldn't afford to buy this flat today. You're talking about 22 - 24 x the median male salary for my borough. This isn't prime London either. You have got to be insane to say this is affordable!

only about a quarter of private renters are still renting by year 10 which means some 75% of them manage to get out of renting

Of course some people want to rent, I rented for 9 years willingly and I know others that have rented longer willingly primarily because of frequent job moves or uncertainty of where they wanted to live longer term.

So for all your protesting and upset, as I keep saying private renting is a temporary tenure for most. And this is not even filtering out the migrants, so the uk born population is even better off

GreatApe

Patrick_Stewart wrote: »

Housing really is a problem. That's why there are so many new ones being built, but they aren't all entry level properties. There aren't that many first time buyers that can afford a new 2 bed house.

Renting and buying are both unaffordable, this is what happens when demand outstrips supply.

Sure you can rent and buy for almost nothing in some parts of the UK, but that's because our economy has become so restricted to the service industries and unbalanced, and focused in e.g. the South.

nonsense .

Windofchange

GreatApe wrote: »

only about a quarter of private renters are still renting by year 10 which means some 75% of them manage to get out of renting

Of course some people want to rent, I rented for 9 years willingly and I know others that have rented longer willingly primarily because of frequent job moves or uncertainty of where they wanted to live longer term.

So for all your protesting and upset, as I keep saying private renting is a temporary tenure for most. And this is not even filtering out the migrants, so the uk born population is even better off

I'm not protesting or upset, I am merely stating an opinion that house prices have got ridiculous. The only way you will ever be convinced is if we see a crash in prices. Even then I'm not sure. I guess I'll just have to wait until the (in my view) inevitable. Not really much point in us discussing this subject any further.

economic

Windofchange wrote: »

I'm not protesting or upset, I am merely stating an opinion that house prices have got ridiculous. The only way you will ever be convinced is if we see a crash in prices. Even then I'm not sure. I guess I'll just have to wait until the (in my view) inevitable. Not really much point in us discussing this subject any further.

the prices are expensive in some areas - but there are reasons for this. prices are not ridiculous.