| Rich getting richer and the poor are paying them rent! 09:43 - Mar 5 with 1044 views | BanksterDebtSlave |
https://www.theguardian.com/money/2022/mar/05/record-rents-house-prices-uk-house
"The government’s most recent English Housing Survey found that in 2020-21, private renters were spending an average of 31% of their household income on rent."
“Our emergency helpline is taking call after call from people who just don’t know how they’re going to keep paying sky-high rents and make ends meet. People on lower incomes are being squeezed so hard they’ve got nothing left, and when people can’t afford their rent they face eviction and the very real threat of homelessness.” |  |
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| Rich getting richer and the poor are paying them rent! on 09:56 - Mar 5 with 1001 views | MattinLondon |
Personally speaking I think that the rental market is out-of-control.
If there isn’t, then there should be a legal maximum of how much a landlord is allowed to charge based on the area of a particular home. |  | | |
| Rich getting richer and the poor are paying them rent! on 10:02 - Mar 5 with 980 views | LegendofthePhoenix |
| Rich getting richer and the poor are paying them rent! on 09:56 - Mar 5 by MattinLondon |
Personally speaking I think that the rental market is out-of-control.
If there isn’t, then there should be a legal maximum of how much a landlord is allowed to charge based on the area of a particular home. |
But there can't be a legal maximum, as different areas command hugely different prices to buy property. A 600 sq foot 1 bed flat in Mayfair ain't gonna be the same as a flat the same size in Barnsley. It would have to linked somehow to the area but god knows how you could work that one out. Which is why it's left to market forces. Perhaps seizing the mansions of several Oligarchs might have a ripple down effect on properties further down the pyramid, we can but hope. |  |
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| Rich getting richer and the poor are paying them rent! on 10:09 - Mar 5 with 968 views | BanksterDebtSlave |
| Rich getting richer and the poor are paying them rent! on 09:56 - Mar 5 by MattinLondon |
Personally speaking I think that the rental market is out-of-control.
If there isn’t, then there should be a legal maximum of how much a landlord is allowed to charge based on the area of a particular home. |
It absolutely is....American style trailer parks coming to a location near you soon! | |
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| Rich getting richer and the poor are paying them rent! on 10:12 - Mar 5 with 945 views | bluelagos |
| Rich getting richer and the poor are paying them rent! on 10:02 - Mar 5 by LegendofthePhoenix |
But there can't be a legal maximum, as different areas command hugely different prices to buy property. A 600 sq foot 1 bed flat in Mayfair ain't gonna be the same as a flat the same size in Barnsley. It would have to linked somehow to the area but god knows how you could work that one out. Which is why it's left to market forces. Perhaps seizing the mansions of several Oligarchs might have a ripple down effect on properties further down the pyramid, we can but hope. |
Plenty of places around the world have rent controls. New York has had them for years.
Of course there are practicalities to address (such as regional variations) but it can't be that hard. You could easily have them as a max % of housing valuations and/or use council bands to address differences within an area. |  |
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| Rich getting richer and the poor are paying them rent! on 10:16 - Mar 5 with 938 views | SuperKieranMcKenna |
Surely £1k a month average is more than 31pc of average household income? Unless it’s gross income maybe - seems high.
I would have thought for most people rent/mortgage eats up closer to half their income. Regardless, further internet rate rises and inflation are only going to add to the squeeze on peoples living standards. |  | | |
| Rich getting richer and the poor are paying them rent! on 10:17 - Mar 5 with 925 views | tractordownsouth |
| Rich getting richer and the poor are paying them rent! on 09:56 - Mar 5 by MattinLondon |
Personally speaking I think that the rental market is out-of-control.
If there isn’t, then there should be a legal maximum of how much a landlord is allowed to charge based on the area of a particular home. |
I'd have a mass council housing programme alongside a ban on future buy to let purchases (with the exception of student accomodation) because it's beyond a joke now. |  |
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| Rich getting richer and the poor are paying them rent! on 10:20 - Mar 5 with 912 views | The_Flashing_Smile |
| Rich getting richer and the poor are paying them rent! on 10:02 - Mar 5 by LegendofthePhoenix |
But there can't be a legal maximum, as different areas command hugely different prices to buy property. A 600 sq foot 1 bed flat in Mayfair ain't gonna be the same as a flat the same size in Barnsley. It would have to linked somehow to the area but god knows how you could work that one out. Which is why it's left to market forces. Perhaps seizing the mansions of several Oligarchs might have a ripple down effect on properties further down the pyramid, we can but hope. |
He said, "based on the area of a particular home." |  |
| Trust the process. Trust Phil. |
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| Rich getting richer and the poor are paying them rent! on 10:26 - Mar 5 with 913 views | The_Flashing_Smile |
Absolutely. And the mortgage market is an absolute stitch up.
I earn a decent income - way more than my partner - and yet she's fine for getting a mortgage but I'm not... because I'm freelance. I've been paying rent - and not missing a payment - for 15 years. But that doesn't seem to come into it. I had a break in my freelance status when I went perm for a bit ...yet rather than that being a positive (being more secure employment) it's actually gone against me, because when I went back to freelance "it started again". I've been doing the same job for 12 years, but the break to do perm means I now have only a year of freelance under my belt and can't get a mortgage.
Sorry for the rant but it's ridiculous. What I'm paying in rent I could quite easily be paying into a mortgage... but computer says no. It's like if your circumstances don't fit the forms exactly, they're not interested. | |
| Trust the process. Trust Phil. |
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| Rich getting richer and the poor are paying them rent! on 10:30 - Mar 5 with 897 views | tractordownsouth |
| Rich getting richer and the poor are paying them rent! on 10:26 - Mar 5 by The_Flashing_Smile |
Absolutely. And the mortgage market is an absolute stitch up.
I earn a decent income - way more than my partner - and yet she's fine for getting a mortgage but I'm not... because I'm freelance. I've been paying rent - and not missing a payment - for 15 years. But that doesn't seem to come into it. I had a break in my freelance status when I went perm for a bit ...yet rather than that being a positive (being more secure employment) it's actually gone against me, because when I went back to freelance "it started again". I've been doing the same job for 12 years, but the break to do perm means I now have only a year of freelance under my belt and can't get a mortgage.
Sorry for the rant but it's ridiculous. What I'm paying in rent I could quite easily be paying into a mortgage... but computer says no. It's like if your circumstances don't fit the forms exactly, they're not interested. |
It's ridiculous that rent payments don't affect your ability to get a mortgage. You'd think someone could get that through parliament as a private members' bill, I could imagine it getting cross party support. | |
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| Rich getting richer and the poor are paying them rent! on 10:52 - Mar 5 with 823 views | bluelagos |
| Rich getting richer and the poor are paying them rent! on 10:26 - Mar 5 by The_Flashing_Smile |
Absolutely. And the mortgage market is an absolute stitch up.
I earn a decent income - way more than my partner - and yet she's fine for getting a mortgage but I'm not... because I'm freelance. I've been paying rent - and not missing a payment - for 15 years. But that doesn't seem to come into it. I had a break in my freelance status when I went perm for a bit ...yet rather than that being a positive (being more secure employment) it's actually gone against me, because when I went back to freelance "it started again". I've been doing the same job for 12 years, but the break to do perm means I now have only a year of freelance under my belt and can't get a mortgage.
Sorry for the rant but it's ridiculous. What I'm paying in rent I could quite easily be paying into a mortgage... but computer says no. It's like if your circumstances don't fit the forms exactly, they're not interested. |
Sounds like a proper catch 22.
One route out might be to go permanent just long enough to get the mortgage sorted then go freelance once you've bought the house.
When I got a mortgage (30 years ago) think I had to have been with an employer just 6 months for it to be ok. Sure it's changed but maybe worth checking if it's only a year or so. | |
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| Rich getting richer and the poor are paying them rent! on 10:52 - Mar 5 with 823 views | The_Flashing_Smile |
| Rich getting richer and the poor are paying them rent! on 10:30 - Mar 5 by tractordownsouth |
It's ridiculous that rent payments don't affect your ability to get a mortgage. You'd think someone could get that through parliament as a private members' bill, I could imagine it getting cross party support. |
Absolutely. You'd think past proof of meeting your financial obligations would actually be more important than how you come by the money. Why do the banks even care how you've got the money to pay, as long as you do? People in perm jobs can easily get made redundant, it's no guarantee. | |
| Trust the process. Trust Phil. |
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| Rich getting richer and the poor are paying them rent! on 10:59 - Mar 5 with 812 views | tractordownsouth |
| Rich getting richer and the poor are paying them rent! on 10:52 - Mar 5 by The_Flashing_Smile |
Absolutely. You'd think past proof of meeting your financial obligations would actually be more important than how you come by the money. Why do the banks even care how you've got the money to pay, as long as you do? People in perm jobs can easily get made redundant, it's no guarantee. |
Yep. Ridiculous they won't give someone a £800pm mortgage but happy to let them pay rent on the same house at £1000pm. | |
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| Rich getting richer and the poor are paying them rent! on 11:05 - Mar 5 with 785 views | The_Flashing_Smile |
| Rich getting richer and the poor are paying them rent! on 10:52 - Mar 5 by bluelagos |
Sounds like a proper catch 22.
One route out might be to go permanent just long enough to get the mortgage sorted then go freelance once you've bought the house.
When I got a mortgage (30 years ago) think I had to have been with an employer just 6 months for it to be ok. Sure it's changed but maybe worth checking if it's only a year or so. |
Yeah that's one of the things I've been trying, but getting freelance is a lot easier than getting perm. I've got one possible perm opportunity I'm waiting on so crossing everything for that. Funny thing is, I earn much more freelancing than perm, but I'm looking to go perm mainly for the mortgage! | |
| Trust the process. Trust Phil. |
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| Rich getting richer and the poor are paying them rent! on 11:11 - Mar 5 with 769 views | Bugs |
| Rich getting richer and the poor are paying them rent! on 10:17 - Mar 5 by tractordownsouth |
I'd have a mass council housing programme alongside a ban on future buy to let purchases (with the exception of student accomodation) because it's beyond a joke now. |
Mass building of Council housing or social housing, is the only proven long term way to sort out a housing crisis in this county. It was done in the Victorian times, the 30's and post WW2. Governments of all colours built council houses.
If a government built a few million good quality social homes around the country this would have the knock on effect of cooling the buy to let market, creating a downward pressure on private rents as well. This would also help first time buyers onto the housing market.
The Tories will never do this, it's a problem they don't want to sort. No idea about Starmer's labour, but I have my doubts. |  | | |
| Rich getting richer and the poor are paying them rent! on 12:02 - Mar 5 with 689 views | LegendofthePhoenix |
| Rich getting richer and the poor are paying them rent! on 10:20 - Mar 5 by The_Flashing_Smile |
He said, "based on the area of a particular home." |
I understood him to mean the footprint area, not the location. Clearly both have a huge impact. | |
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| Rich getting richer and the poor are paying them rent! on 12:29 - Mar 5 with 649 views | MattinLondon |
| Rich getting richer and the poor are paying them rent! on 12:02 - Mar 5 by LegendofthePhoenix |
I understood him to mean the footprint area, not the location. Clearly both have a huge impact. |
I meant based on actual post code and type of home.
Edit. I know that it’s possible for two completely contrasting areas to share the same post code - but the basic principle of what I mentioned still stands. Plus second homes etc should be taxed more. [Post edited 5 Mar 2022 12:30]
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| Rich getting richer and the poor are paying them rent! on 12:32 - Mar 5 with 632 views | Nthsuffolkblue |
| Rich getting richer and the poor are paying them rent! on 12:29 - Mar 5 by MattinLondon |
I meant based on actual post code and type of home.
Edit. I know that it’s possible for two completely contrasting areas to share the same post code - but the basic principle of what I mentioned still stands. Plus second homes etc should be taxed more. [Post edited 5 Mar 2022 12:30]
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Any system that sets a maximum would be a improvement and there are ways to give some flexibility for different areas/sizes etc. |  |
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| Rich getting richer and the poor are paying them rent! on 13:34 - Mar 5 with 555 views | MattinLondon |
| Rich getting richer and the poor are paying them rent! on 12:32 - Mar 5 by Nthsuffolkblue |
Any system that sets a maximum would be a improvement and there are ways to give some flexibility for different areas/sizes etc. |
It’ll never happen though - well not unless something radical happens. Successive governments care more about the people who can afford second homes in Cornwall rather than the people who struggle to make ends meet. | | | |
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