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Is it really THAT important to own your own home?
Comments
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Of course you're scared of posts threatening house prices will fall, because you stand to lose so much. I admit to enjoying it immensely.
Why will I lose so much?
We will sell our main residence in a couple of years time, make a very healthy profit and find a run down place again breathe new life into it and have a queue of people paying top dollar for it.
When we sold in May this year, the first Old couple that came round bought it and we pushed it through in a couple of weeks.0 -
The problem with ideas like this is putting them into practise. Even if you agree with them (I don't agree with a lot of them, BTW) but tell us how you'd legislate to achieve the above points, please?....I just take the view that some things can't be changed easily and are more wishful thinking than changeable, and it's often the best option to try and tackle these issues from a different/tangent angle i.e:
1) restricting the number of BTL properties allowed (allow 1 BTL, and any 2nd, 3rd etc... is very heavily taxed)
2) giving FTBs and those who wish to live in a property priority over those buying for BTL market
3) bigger tax breaks for those who earn "normal" wages but not entitled to any benefits as they are deemed to earn too much.
4) More rights for tenants who pay their rent on time each month i.e. fixed increases in rent, longer tenancies if required, more notice from LL if they have to move out
5) Council houses only for the needy!! (hmmm, tangent rant here, coz i know quite a few people who have had big changes in financial circumstances but don't have to move out of their council house, despite the huge queues from those who genuinely require one!).
1. Thought of a way round this before I'd finished the sentence.
2. You can't do without skewing the market and/or leaving loopholes.
3. So easy to get round, especially if you are self employed.
4. Some of it I agree with but "fixed increases in rent"? It won't work comrade.
5. I doubt if the "non-needy" can get one currently.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
I'm with you, pinkshoes - I wish your ideas could all be put into practice! Not sure I agree with BobProperty - I think they're all perfectly feasible, if there was a political will to implement them, which there currently isn't.
pickles110564, you sound strangely defensive for someone so sure they are not going to lose out. Now, why would that be?
(Please don't feel the need to actually answer that - we've heard the record a few times now...)0 -
Part of one of my careers involved making sure what people thought was going to happen, actually happened. That's why I ask such questions. Let me give you a slightly OT example based on near-urban-myth. 16 year old girls who get pregnant to get council houses shouldn't be allowed to do so. Big proportion of readers say "I agree". Now write the legislation that could enforce it. Politically, it would be a winner, but it can't be done (well not without resorting to Mugabe style government). I genuinely wish people would try, then they would understand the point I am making. (that's writing the legislation, not getting pregnant at 16)I'm with you, pinkshoes - I wish your ideas could all be put into practice! Not sure I agree with BobProperty - I think they're all perfectly feasible,.....A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
BobProperty wrote: »The problem with ideas like this is putting them into practise. Even if you agree with them (I don't agree with a lot of them, BTW) but tell us how you'd legislate to achieve the above points, please?
1. Thought of a way round this before I'd finished the sentence.
2. You can't do without skewing the market and/or leaving loopholes.
3. So easy to get round, especially if you are self employed.
4. Some of it I agree with but "fixed increases in rent"? It won't work comrade.
5. I doubt if the "non-needy" can get one currently.
Well I think my ideas are a darn sight more realistic than sitting on ones backside and keeping fingers crossed for a 40% price drop!!
1) If you thought of a way round it before you finished the sentence, then so be it, but my list of suggestions would only work for a nation of law obiding and honest citizens!!
2) It wouldn't be skewing the market. Offer all properties for sale to those who intend to live in them, and if they haven't sold after 2 months, THEN open them up to BTL investors. In some areas, properties are still selling in days, especially low end 2 bed flats/terrace, and as a FTB it is terrifying having to make a decision so quickly, whereas a BTL person with experience in buying has no qualms about putting in an offer straight away, so this way a FTB has a fair chance to buy without being rushed into a scary decision!
3) Again, requires honest people! I don't wanna know about any of your tax dodging antics thanks! :rolleyes: This isn't really a house buying thing, it's more of a helping hand to those that work hard but still struggle due to heavy taxes!
4) Ok, maybe not fixed increases, but agreed ones?! Loyalty points for loyal tenants! Tesco have loyalty (snooping) cards, so why not tenants?!?! It could work, as I'm sure most landlords would like a peaceful rent paying tenant.
5) The non-needy are in possession of quite a few (from many many years ago) but have no need to hand them back due to current rules. I guess the council could raise their rents to private levels as their income increases...BobProperty wrote: »16 year old girls who get pregnant to get council houses shouldn't be allowed to do so.
Ok, virtually impossible to write a legislation to prevent this... but maybe if it wasn't such a good offer i.e. they had to stay in hostel style accomodation with shared facilities, and all benefits were paid in vouchers so money could not be spent on other things (such as fags and booze)... Although not all pregnant 16 year olds are after a council house! (statistics show it's mainly those who were raised in council accomodation...). Some genuinely want to raise their kid AND finish their education.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
Sadly, there's your problem.1) If you thought of a way round it before you finished the sentence, then so be it, but my list of suggestions would only work for a nation of law obiding and honest citizens!!
While I am a law-abiding citizen, as, I am sure, are you and BobProperty among others, BobProperty's point is likely that many people aren't and would straightaway start trying to find loopholes and ways around legislation of the sort you suggest. The law has to be written to govern the worst kind of person. If everyone was good, kind, fair and honest, we wouldn't have to have laws.
I do find myself agreeing with you and I certainly agree it's better to do something about a situation rather than to let it lie and whinge about it. I'm not sure what it is possible to do, however, with a government who don't appear to be all that concerned about the situation (or who think that building more houses is the answer) - I've signed petitions, I'm trying to draft a letter to the Housing Secretary at the moment, my partner and I do try to make our voice heard. And in the meantime, we are doing the best we personally can - squirreling our money away and watching the market carefully.0 -
Gordon B, I don't think it's a good idea to use the handle "pinkshoes", some of your political opponents may use it against you. Sorry Pinkshoes, I can rely on the market more than any politician.Well I think my ideas are a darn sight more realistic than sitting on ones backside and keeping fingers crossed for a 40% price drop!!
I'm law abiding but my wife and kids aren't? That was the first "loophole" that came to mind. So is it one BTL per family comrade?1) If you thought of a way round it before you finished the sentence, then so be it, but my list of suggestions would only work for a nation of law obiding and honest citizens!!
Total fantasy. All vendors would wait 2 months to see if a BTLer would pay more than the FTBers.2) It wouldn't be skewing the market. Offer all properties for sale to those who intend to live in them, and if they haven't sold after 2 months, THEN open them up to BTL investors. In some areas, properties are still selling in days, especially low end 2 bed flats/terrace, and as a FTB it is terrifying having to make a decision so quickly, whereas a BTL person with experience in buying has no qualms about putting in an offer straight away, so this way a FTB has a fair chance to buy without being rushed into a scary decision!
Er aren't "heavy taxes" the problem then not house prices? All my "tax dodging" is avoidance not evasion. As a citizen I am only obliged to pay the taxes the law requires.3) Again, requires honest people! I don't wanna know about any of your tax dodging antics thanks! :rolleyes: This isn't really a house buying thing, it's more of a helping hand to those that work hard but still struggle due to heavy taxes!
Paying rent at the market rate. State interference has always messed up the market. When there were rent controls very few people were becoming landlords even though the returns then were probably better than now.4) Ok, maybe not fixed increases, but agreed ones?! Loyalty points for loyal tenants! Tesco have loyalty (snooping) cards, so why not tenants?!?! It could work, as I'm sure most landlords would like a peaceful rent paying tenant.
Rent related to income? Back to #3 for one. Or maybe you could evict them after 20 years in a council house and tell them to buy somewhere? Or maybe their rent should increase above inflation over time until they match private levels.5) The non-needy are in possession of quite a few (from many many years ago) but have no need to hand them back due to current rules. I guess the council could raise their rents to private levels as their income increases...
Thank you. I rest my case.Ok, virtually impossible to write a legislation to prevent this...A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
An advantage of owning a home is you have the oppurtunity to pay it off and then live rent free for the rest of your life (which can go into a retirement fund..). Or even retire to a country with cheaper property and take the extra equity with you
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For many posts I'm with you carolt and Lavendyr, but on this last couple I'm with BobProperty. I think adding more regulations like some of pinkshoes's suggestions would do more harm than good. I think the solution to the housing problems should be to tighten up on lending criteria and let the market crash. The doubts I have is will that happen or will Gordon interfere yet more?1) restricting the number of BTL properties allowed (allow 1 BTL, and any 2nd, 3rd etc... is very heavily taxed)
Is that one per person, one per married couple, one per married couple and one allowed for each child of what age does the child have to be? What about companies that own property? Setting up a limited company is a doddle, many of us here run such, so how do you ration that? What about existing property owning companies? What about estates with tied workers accommodation? What about the Queen? What about second homeowners, can they have a BTL too at the lower rate or not? What if the second home is abroad? What about overseas nationals can they have the low rate and how are their properties abroad counted? What about someone inheriting a property when the Great Aunt dies, will they have to panic sell their BTL or be taxed to oblivion? What about people who've given a life interest in a property away to someone else? What about annexes that are let out?
I think an easier solution would be to withdraw the tax relief on mortgage interest payments.2) giving FTBs and those who wish to live in a property priority over those buying for BTL market
Well that's possible now certainly for new builds the council can specify who it's sold to, like locals etc. So that could be used. But then do you dissuade builders from building as you are restricting their profits?3) bigger tax breaks for those who earn "normal" wages but not entitled to any benefits as they are deemed to earn too much.
Strongly disagree. Tax breaks only serve to pump more money into the market so I see that making things worse not better. It would also mean the government sanctioning young people taking out excessive debt and buying into an overblown market, it that wise? I also object to tax credits, how can it be right that average worker have to go cap in hand to the government for handouts or their own money? I think the thing to do is simplify the tax system and get rid off all the bells and whistles that make collecting tax so expensive and allow the pen pushers to snoop into our lives. Then use the money saved for tax cuts, the tax system is already tiered.4) More rights for tenants who pay their rent on time each month i.e. fixed increases in rent, longer tenancies if required, more notice from LL if they have to move out
Well I don't want fixed increases in rent, I'll stick with no increase! More security is my bugbear so I agree with that. 0 -
Woah! That's another "how are you going to write the legislation". Too loose everyone gets round it. (Ltd Co's already mentioned by you). Too tight and small businesses get hit. BTL get interest relief because they are businesses (of sorts - they are investment businesses not trading businesses, there's a revenue definition difference, can't remember all the technicalities but income off a BTL is investment income, income off a Holiday Let is a trade.).... I think an easier solution would be to withdraw the tax relief on mortgage interest payments.....A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0
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