No Fault Evictions {Merged}

Sarah1Mitty2

Tucosalamanca said:

Sarah1Mitty2 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

The house won`t disappear, it is just that the landlord won`t own it any more, people have been calling "housing shortage" for years but no one looking to buy or rent is homeless, if they decide not to buy or rent a particular property they can just stay in their present property.

You haven't mentioned overcrowding.
Living in an HMO, living with parents until middle age, or staying in the same property after relationship breakdown isn't desirable, it's simply done out of necessity and is not a choice for most.
There's clearly a property shortage, or do you think the groups listed above are an insignificant number of people?

In the area you mentioned there clearly isn`t a shortage, and as prices are still being cut they are obviously still over priced on an over-supply. On the "Renting in the NW" thread I showed that a very quick search within a 40 mile range was throwing up thousands of suitable cheap rentals if someone was prepared to drive to work.

MobileSaver

Sarah1Mitty2 said:

Tucosalamanca said:

Sarah1Mitty2 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

The house won`t disappear, it is just that the landlord won`t own it any more, people have been calling "housing shortage" for years but no one looking to buy or rent is homeless, if they decide not to buy or rent a particular property they can just stay in their present property.

You haven't mentioned overcrowding.
Living in an HMO, living with parents until middle age, or staying in the same property after relationship breakdown isn't desirable, it's simply done out of necessity and is not a choice for most.
There's clearly a property shortage, or do you think the groups listed above are an insignificant number of people?

The reality for many is that they would rather live with their parents than borrow 90k for something like this....

And for those "many" how long do you think that state of affairs will last for before the reality of living with parents in your 20s and 30s becomes all too apparent? Six months? A year?

I suspect the vast majority of both grown-up kids and parents will be chomping at the bit for them to get a place of their own after a year so all you are doing is delaying the inevitable...

[Deleted User]

BungalowBel said:

[Deleted User] said:

motorman99 said:

Just a small illustration of what happens, a house in Windsor my mum and dad bought in 1963 for £6950 sold in 2021 (other sakes in between of course)

it sold for £985,000

yep, 58 years down the line. 

But that’s house prices for you 

With inflation your parents paid the equivalent of £118k for that house.

That's the kind if pricing we need to get back to. Getting rid of landlords will help.

Why will it?

I've never understood why people say landlords drive prices up.  There isn't anything stopping anyone else buying the houses that the landlord bought. There isn't a label on them saying 'landlords only'.

Some amount of landlords is okay, ideally only the state in that business. The problem we have now is that with a trashed economy for 13+ years and low interest rates people have been turning to rental income.

Getting rid of people like that will free up houses to buy, and stop people having to compete with buy-to-let.

CurlySue2017

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

But you cannot possibly know that for sure.  Or if you do know that for sure, I would love to know how you know that.

CurlySue2017

Tucosalamanca said:

I recently visited Sheffield for a University open day. Part of my research was looking at property to rent/buy.
Coming from SW England, I was amazed at how cheap properties seem to be.

Looking on Rightmove this morning, houses for sale within 40miles of Sheffield (chosen as it's reasonably central and encompasses many towns) up to £100k. There are approx 1,000 properties available, 500 or so at up to £80k

Minimum wage is now £10.42ph or £20,319pa based on a 37.5hr week.

With an £8,000 deposit, a minimum wage worker can buy a two bedroom house for £80,000, with mortgage repayments around £428 per month.

A young couple, both on minimum wage will be earning over £40k per year. That two bed home is a mere 2 x combined salary.
They can comfortably buy a far better home and they're just minimum wage workers.

And some people think there's a crash coming??? Looks like plenty of scope for further price increases to me...

This is the problem.

How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? 

That would take me years and of course by the time I have reached the magic target figure, it would be worth much less and the saving would have to start all over again.  And so it goes on.

Tucosalamanca

Sarah1Mitty2 said:

Tucosalamanca said:

Sarah1Mitty2 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

The house won`t disappear, it is just that the landlord won`t own it any more, people have been calling "housing shortage" for years but no one looking to buy or rent is homeless, if they decide not to buy or rent a particular property they can just stay in their present property.

You haven't mentioned overcrowding.
Living in an HMO, living with parents until middle age, or staying in the same property after relationship breakdown isn't desirable, it's simply done out of necessity and is not a choice for most.
There's clearly a property shortage, or do you think the groups listed above are an insignificant number of people?

The reality for many is that they would rather live with their parents than borrow 90k for something like this....

https://www.rightmove.co.uk/properties/104376791#/?channel=RES_BUY

Or they could move into this for 10k less.
It benefits from a converted double garage suitable for home working, 'C' rated EPC and only council tax band A. Good schools within one mile.

2 bedroom town house for sale in Stainton Street, Denaby Main, Doncaster, DN12 (rightmove.co.uk)

Tucosalamanca

CurlySue2017 said:

Tucosalamanca said:

I recently visited Sheffield for a University open day. Part of my research was looking at property to rent/buy.
Coming from SW England, I was amazed at how cheap properties seem to be.

Looking on Rightmove this morning, houses for sale within 40miles of Sheffield (chosen as it's reasonably central and encompasses many towns) up to £100k. There are approx 1,000 properties available, 500 or so at up to £80k

Minimum wage is now £10.42ph or £20,319pa based on a 37.5hr week.

With an £8,000 deposit, a minimum wage worker can buy a two bedroom house for £80,000, with mortgage repayments around £428 per month.

A young couple, both on minimum wage will be earning over £40k per year. That two bed home is a mere 2 x combined salary.
They can comfortably buy a far better home and they're just minimum wage workers.

And some people think there's a crash coming??? Looks like plenty of scope for further price increases to me...

This is the problem.

How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? 

That would take me years and of course by the time I have reached the magic target figure, it would be worth much less and the saving would have to start all over again.  And so it goes on.

Without wanting to get personal, my kids have saved more than £8,000 just from two years part time working in preparation for Uni.

I'm employing 18yr olds who are driving around in 10k cars and paying £2,500 in insurance for the privilige!

I have a 20yr old niece who's doing care work and lots of overtime. She's living in an HMO (£700 per month), running a car and still managing to save hundreds every month.

It's not a problem for everyone.

CurlySue2017

Tucosalamanca said:

CurlySue2017 said:

Tucosalamanca said:

I recently visited Sheffield for a University open day. Part of my research was looking at property to rent/buy.
Coming from SW England, I was amazed at how cheap properties seem to be.

Looking on Rightmove this morning, houses for sale within 40miles of Sheffield (chosen as it's reasonably central and encompasses many towns) up to £100k. There are approx 1,000 properties available, 500 or so at up to £80k

Minimum wage is now £10.42ph or £20,319pa based on a 37.5hr week.

With an £8,000 deposit, a minimum wage worker can buy a two bedroom house for £80,000, with mortgage repayments around £428 per month.

A young couple, both on minimum wage will be earning over £40k per year. That two bed home is a mere 2 x combined salary.
They can comfortably buy a far better home and they're just minimum wage workers.

And some people think there's a crash coming??? Looks like plenty of scope for further price increases to me...

This is the problem.

How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? 

That would take me years and of course by the time I have reached the magic target figure, it would be worth much less and the saving would have to start all over again.  And so it goes on.

Without wanting to get personal, my kids have saved more than £8,000 just from two years part time working in preparation for Uni.

I'm employing 18yr olds who are driving around in 10k cars and paying £2,500 in insurance for the privilige!

I have a 20yr old niece who's doing care work and lots of overtime. She's living in an HMO (£700 per month), running a car and still managing to save hundreds every month.

It's not a problem for everyone.

That's great, are your kids paying full rent on their own places also?  And paying all the bills that come along with that?

Do any of them have dependants?  Do they care for anyone vulnerable?

It may not be a problem for everyone, but I suspect it is a big stumbling block for a lot of people who don't have such straight forward circumstances

caprikid1

CurlySue2017 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

But you cannot possibly know that for sure.  Or if you do know that for sure, I would love to know how you know that.

"How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? "

Ridiculous amounts in rent = Supply Shortage

More legislation restricting landlords will increase supply ? I'd love to know how you think that will happen.

We are already seeing the boards suggesting to potential new landlords don't bother, I had a conversation with a landlord last night "Can't get the figures to work".

No I don't know for sure but I have followed the property market for over 30 years and never called it wrong yet. But if you can tell me how it will have no effect on supply I am open to having it explained.

Yellowsub2000

Mortgage rates could be double digits by 2025.

many are agreeing here is just one example 

https://youtu.be/8BnZvz1bRoM