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because btl landlords know the rental values too
if they cant control the market the market has a more natural feel no idea why a bank wont lend to a buyer when buying is cheaper than renting..! they know something the landlords do not? |
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Does dropping prices really stimulate purchases?
Say you are in the market for a house, looking round £200k. You start looking at potential buys, start taking notice of the market. Then an 09 style crash happens. Suddenly a house that was £225k 3 months ago is on for a "Reduced" £200k. Do you think it's your lucky day and jump in or do you hang on thinking there's probably further it can fall or maybe wonder if now is the right time to be lumbering yourself with a huge debt after all? |
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Short term you would wait I guess.
It should have been left to the free market. All the tax breaks for BTL, open borders, emergency interest rates, help to buy etc made it worse. |
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Don't disagree with that. Just think it's a really difficult one to fix. Genie's out the bottle really. If you want to reduce prices to allow people on to the ladder then you're hurting a hell of a lot of people by doing so. Similarly with BTLers. There are plenty of rogues but the vast majority are decent people encouraged to invest in property for their pension and have nothing else put by for when they retire. Not sure what the answer is frankly.
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Council estates PP plane and simple, would save all the money given in housing benefit to people. Would be self funding in the long run, while I'm a big Maggie fan this for me was her biggest mistake.
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Would agree with that dan. Maggie's failure to replenish stocks was a mortal wound. Single biggest thing that made people change their view of a house being a home into an investment instead. Thing is that will help people find homes but what do you do to the people who's livelihood is wrapped up in their properties?
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Could this be a solution?
Local councils to be responsible for new builds, including planning permission, and most important, land prices. At the moment Farmer A can own land worth 5k an acre, but Farmer B can obtain planning and become a millionaire overnight. Fix a max price for land, tender for building houses, and sell for say 130-150k for 2 bed in SE. Local people to be given priority. House price to be fixed to inflation, and can only be sold under license from council. No re rental allowed. Anyone caught renting will have house repossessed , money returned, less10k fine. Ok I may have oversimplified it, but can see no negatives. |
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I was told by someone last week that the council haven take one in three houses on his new build site for letting or joint ownership. The guy is hoping they put em all together at the other (cheaper) end of the estate.
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I think its nice to have the possibility of becoming a millionaire overnight
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I don't want the council to be involved in anything like that, that just gives them more power, they make everything more expensive and more trouble for everyone else
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look at the shambles and trouble it is just to get your bins emptied or taking rubbish to local council dump...no thanks!
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no, let the farmer become a millionaire
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If you have immigration you cant have council houses, that is not possible
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There's nothing wrong with renting.
In fact until the right to buy and the stopping of councils being allowed to build and the inception of housing associations (another level of profit along the way), most people did! What's ridiculous is the cost of renting. Buy to let is a completely unnecessary business, and it started 40 years ago. LOADS of MPs are buy to let landlords - Many of them voted against laws being brought in which would make landlords more accountable. Not just Blair - reprehensible creature that he is. This makes VERY interesting reading. It's from the most impartial source there is. https://fullfact.org/economy/did-mps-vote-against-homes-having-be-made-fit-live-in/ This is a list of 72 YES SEVENTY TWO!!!!! MPs who are landlords who voted down the bill to make rented homes habitable, by law. They are SO greedy they don't even thing that rented property has to be habitable. See if YOUR MP is in the list. Mine is. https://www.indy100.com/article/72-mps-vote-human-habitation-living-standards-private-landlords-grenfell-tower-7790891 |