General > General Technical Chat
Working From Home - Impacts of Coronavirus
<< < (391/447) > >>
SilverSolder:

--- Quote from: SerieZ on July 17, 2020, 08:56:09 am ---
--- Quote from: paulca on July 17, 2020, 07:19:52 am ---
--- Quote from: bd139 on July 16, 2020, 04:08:44 pm ---This one is interesting as I'm about to buy one.

--- End quote ---

Buy to let is exactly the issue.  Has been for a while and it's got quite serious.  It's nothing more than landlords buying up all the properties and then renting them back out at twice (or higher) the mortgagable rate to make profit.

I just moved from a 2 bed apartment in a 3 apartment/3 shop complex paying £600 a month, to a full 3 bed semi-detached house with front and rear gardens and drive/garage.... Mortgage + rates = £550 a month.

But those on lesser income will not get a mortgage so they get stuck paying higher and higher rents.  Calls to regulate the landlord business to cap rents and force landlords to provide "quality of service" and "minimal living standards" in their properties, was voted out in parliament.  Everyone of the Tories who voted against it... you guessed it... have multiple properties to let.  No conflict of interest at all.  I want that vote taken again, but anyone who has a for-let property be banned from voting.

With the UK crawling further and further into bed with the US and with Brexit removing very rapidly our human rights bill and employement rights this will just get worse.  When the employement rights go getting a mortgage will become much, much harder, so only the affluent will have the capital to leverage a mortgage, meaning the rich will own all the property and the poor will pay rent and jump to their landlords whim.

--- End quote ---

:=\ Evil landlords want to get us back to Feudalism!!! EU - save us!!!
Look, I understand your grievance but you should listen to yourself and maybe read some other sources as well before typing such hyperbolic blanket statements.
The Housing Market is already over regulated in most places including Switzerland and that is the main reason for unhappy renters AND Landlords.
That, the broken competition via regulation and the massive Influx of people to hotspots i.e major Cities natural and artificial produces places with quite unaffordable rent.
Berlin is a placed where I lived for a few years which exemplified this Problem and they had a Left, Far Left and Greens in Power for years  (almost 20 now) and they only managed to make it worse for everyone involved.

And No - I am not renting out Property.

--- End quote ---

The reason rents (and house prices) are so high is because people are willing to pay that much - basically, the price is "what the market is willing (and able) to pay".

This is compounded by most people wanting "somewhere nice" to live, so they stretch what they are able to pay to the max.

Most people are not professional buyers in their day time jobs, they just look at what everyone else is (over)paying and go along with that (what else can they really do).   

So you end up with a vicious circle of uninformed buyers that plow as much of their salaries as they can into their dwellings, while crying about lack of disposable income all the while.

We all have the choice of living in a more modest place and using the money saved for something else, but few elect to do that...

PlainName:

--- Quote ---We all have the choice of living in a more modest place
--- End quote ---

Really? When there is a housing shortage it's just a game of musical chairs where those with money get a seat and those without being fucked. The reason there aren't more people on the street is because of couch surfing and living with parents. Plus even if you can afford a place to live, if that's soaking up the majority of your income then you're basically living in poverty.

'What the market is willing to pay' is inappropriate here. You could say the same about food, and sure enough if you're skint you can buy ridiculously cheap frozen ready-meals. Which have very little nutritional value and not that much better for you than eating sugared cardboard. But, hey, that's your choice if you don't have the money, right? Fresh food, fruit, vegs... just luxury items and if you can't afford to play the game, well, that's what the market is willing to pay.
VK3DRB:
IN Australia, the primary reason for high rents and exhorbitant housing prices here is gross economic mismanagement by state and federal governments who are addicted to high immigration rates and feeding the tax breaks for housing investors. Most politicians have investment properties and use it for tax minimisation. In this city, homelessness is a growing problem mainly because the homeless cannot afford to live anywhere. Meanwhile there are 80,000 empty properties in this city that are mostly owned by foreigners hiding money here - another government debacle. The government are 100% to blame and deserve utter contempt, or worse. They are the cause of a lowering birth rate, kids left in expensive child care as mum is forced to work to make ends meet.

This housing Ponzi scheme is close to crashing thanks to COVID-19 and the greedy "mum and dad" housing investors will hopefully lose, so that young Australians can afford their first home. We need a major paradigm shift in government policy where houses are viewed as homes, and not speculative investment products.
paulca:
However, if you are disabled, ill, or just unemployed the government offer you something pathetic like £60 a week towards your rent and about the same to live on.  If you live somewhere that costs more, like anywhere out side of a council provided house, the might pay you a bit more, but if you a single living in a 2 bed apartment, they will "tax" you for the unused room.

The lack of affordable homes for the poor is an issue that goes someway to causing homelessness and definately provides a way for rich landlords to syphon money out of the welfare state.

The issues are that a second home (or renting out your original apartment) when you upgrade, results in you the landlord paying two mortgages.  So the mortgage for your apartment might still be £400 a month, to cover maintenance, rates and make a profit you need to charge £800 a month.  Putting that out of many people's  markets. 

But that isn't the worst.  Say the government do build 100,000 affordable homes costing £100-£150k to own.  The property tycoons are straight in there and buy the majority of them off plan.  By the time they are ready to live in, rather than a lower class family being about to get a £400 month mortgage on one of the, the tycoons are renting them out for £800 and sitting on a beach somewhere. Worse, in a lot of cases they will chop the house up into  2 apartments and rent each out for £600 a month.

This already happened.  Most of the council housing stock was allowed to be sold to private owners in the 80s/90s.  I can go onto a local rag here and find properties which were council houses with £60 a week rent being rented for £700 a month.

*Prices dependant on the area you live, for London, add a 0
GlennSprigg:
As Dave said to someone else, before locking them out...

EEVBLOG
Please STOP posting Covid threads on this forum.
Locked.

Unless of course it is HIS thread, with over 87000 views
and nearly 2000 replies.
Navigation
Message Index
Next page
Previous page
There was an error while thanking
Thanking...

Go to full version
Powered by SMFPacks Advanced Attachments Uploader Mod