oh dear (tm): Generation rent: the housing ladder starts to collapse for the under-40

[original PM]

Simplistic bollocks!

Did you not read the post above where people through circumstances have to start over?
'Kids' of 30, still living with their parents who have been saving for a deposit when the goalposts change and move further away weekly?
Financial institutions refusing to lend in order to prop up their balance sheets after the crash they caused.

There is an undeniable shortage of homes, let alone affordable homes throughout the country, while hundreds of thousands of them sit empty, appreciating for their owners.

I don't argue that some sectors should control their 'breeding' but so should controls be in place for rents and the profits the industry makes from property.

What kind of ridiculous situation is it that forces people to buy a house FOR a landlord who owns multiple dwellings but prevents the renter from buying their own?

Interesting starter homes where I live ( leafy town in cheshire)

2009 average sale price was 136000

Now is 124000

Houses are available but they are not cheap however I still think people expect to buy a house and be able to have
50inch tv
New car every 3 years
New i hipster gear every 2 years
Designer clothes
At least 1 foreign holiday a year
Gym membership

Did your parents have that when they bought their first house?

Did you have that when you bought your first house?

Because me and my parents made choices on where to spend money.

[ChimpMaster]

Renting is far more common in continental Europe, so as we move to this model, there are some important things we need.

A) we need better rent controls,

B) tenant rights need to be improved (no kids, no pets = no life)

C) longer assured tenancy must be on offer.


I would argue that a lack of the above is a significant driver to buy somewhere instead, so you can have a bit more scrutiny.

But, if none of this come to be, then it really is a tulip situation for the young. Proper exploitation.

I would love to see a big fat tax on landlords, partly to make it less lucrative. But then in today's system, rents would just be raised to compensate.

Did you miss the summer budget?

BTL will soon be untenable for a large number of landlords. This will be good news for anyone that doesn't own a property - i.e. those who aren't investors or owner occupiers - but bad news for the economy as a whole. There are plenty of articles around this subject already, so I won't go into detail here but the basic premise is obvious.

[PurpleGorilla]

oh dear (tm): Generation rent: the housing ladder starts to collapse for the ...

Did you miss the summer budget?

No - you think a bit less tax relief on BTL after 15 years of tacitly supporting it will make f all difference? Come on! [emoji102]

[PurpleGorilla]

Because me and my parents made choices on where to spend money.

When your parents bought you could by a detached house on half an acre for 3x a single teacher salary. Then spend the rest on cheap booze, fags, and petrol.

Boomers [emoji102]

[tractor]

...

Interesting starter homes where I live ( leafy town in cheshire)

2009 average sale price was 136000

Now is 124000

Houses are available but they are not cheap however I still think people expect to buy a house and be able to have
50inch tv
New car every 3 years
New i hipster gear every 2 years
Designer clothes
At least 1 foreign holiday a year
Gym membership

Did your parents have that when they bought their first house?

Did you have that when you bought your first house?

Because me and my parents made choices on where to spend money.

Where is your evidence from - Daily Mail?



House prices where the work is.

[vetran]

And that, ladies and gentlemen, is why renters hate renting!

Your house but their home Barry. I hope you never have to experience falling on hard times!

honestly some tenants can be right twerps. The landlord frequently has to fund the bad behavior of the tenant.

My family have rented out accommodation for over 50 years. Over the years we have been put into hospital,dragged out of bed at 2am many times, lost tens of thousands of pounds by people failing to pay rent, dialled 999 many many times and been falsely accused of many things.

There are many great tenants out there, some immature or thoughtless ones but a small minority are absolute scum and you wouldn't lend them a pen. Many of them seem to draw Dole so strangely they screw up their peers and landlords won't take them.


The reason Landlords are restrictive is because they are protecting their significant investment that most of their tenants will never understand took an awful lot of effort to purchase.

Pets pee & poo everywhere, they bark and disrupt the neighbors of course your pet is perfect and no trouble that doesn't mean we won't have to clear up its poop when you leave.


The outrageous rent & deposit is to cover:
redecorating when the tenant decides to paint all the walls gloss black.
The works of art little Darlings create on the walls.
burns all over the kitchen sides with hot pans or un-shielded candles and josticks.
Replace the floor when the tenant repeatedly floods the place and it rots.
Pay the electricity bill when the tenant bypasses the coin electric meter with jump leads.
The extra faff when the tenant turns out to be an illegal despite showing papers.
When the ex comes round and breaks down the door.

Rent controls that beggar the landlords and they will leave the trade.Those that remain will only choose the best tenants and those with kids & dogs will be homeless.

What needs to happen is that the deposit system act more like a referral system proving the tenant is a good bet and has no defaults, is a legal UK citizen and not wanted for beating up landlords.

The courts should allow a quick eviction within 1 month if the tenant is say 3 months behind or is causing a nuisance.

The courts should prosecute illegal landlords harshly.

The government should build more houses and stop the population exploding.

[DimPrawn]

Houses are available but they are not cheap however I still think people expect to buy a house and be able to have
50inch tv
New car every 3 years
New i hipster gear every 2 years
Designer clothes
At least 1 foreign holiday a year
Gym membership
.

I would add it up:

Full Sky TV package. £50/month
Latest phone contract. £50/month
Gym. £50/month
Fancy car on finance. £300/month
Holidays abroad. Lets call it £200/month
Christmas spending frenzy. Lets say £100/month
Nights out, meals, clothes and cosmetic procedures. £250/month


There's the money that would make the deposit in about 2 years.....and pay the morgage after that.

Generation "Want it all, want it now!"

[ChimpMaster]

No - you think a bit less tax relief on BTL after 15 years of tacitly supporting it will make f all difference? Come on! [emoji102]

I don't think you (and many other people, including some BTL investors) yet realize the full impact of removing higher-rate tax relief. People need to look at the way in which rental income will be accounted for in terms of taxation from 2020.

'Investors' in the basic rate tax band could quite easily be pushed into the higher rate band and end up paying tax on what becomes a loss making BTL investment. Yes you heard that correctly: some will owe tax on BTLs that are running at a loss. Others will see their profit slashed by over 50%, making the investment untenable.

This is a very targeted attack by the Cons on the very group that voted for him. And the worst thing is that they can't even see the full impact of it.

[original PM]

Where is your evidence from - Daily Mail?



House prices where the work is.

Well not sure what this article is supposed to tell me.

Other than there are many affordable houses in England,Scotland and Wales

[barrydidit]

And that, ladies and gentlemen, is why renters hate renting!

I'm talking about people having respect for other peoples property. It's not really that difficult to grasp is it? All i'm interested in is being able to separate to knuckle draggers from people who will look after a place. It's not much fun finding someone has been keeping a dog in the kitchen and the smell of piss and tulip is ingrained in the concrete.

I've never increased rent on existing tenants. I've never evicted anyone*. All repairs conducted to higher standards than required on my own residential property etc etc. I'm a right old bloodsucker...

* - who was paying rent and not smashing the place up etc

Your house but their home Barry. I hope you never have to experience falling on hard times!

I'm doubting your sincerity there, somehow.