Reply to: Immigration is driving up house prices

[SueEllen]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

BTL properties are a business so fair enough.

Second homes aren't.

While there is an issue with communities have streets of housing with short-term tenants at least the tenants will pay for and use the local amenities 100% of the time while second home owners don't.

And forcing developers to actually develop on the land they bank by taxing the land regardless of who owns it, will help decrease house prices.

[DimPrawn]

Should have married her instead, eh?

True dat!

[AtW]

I think my (ex) sister in-law has most of them. She's early 30's and has well over £1m in mortgage debt on 10 btl properties. The rent is way more than the mortgage payment, so it effectively pays her own mortgage every month.

And she's one BTLer......

Should have married her instead, eh?

[DimPrawn]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

I think my (ex) sister in-law has most of them. She's early 30's and has well over £1m in mortgage debt on 10 btl properties. The rent is way more than the mortgage payment, so it effectively pays her own mortgage every month.

And she's one BTLer......

[GB9]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

[Old Hack]

It's already happened as Osborne offered Govt guarantees to reduce deposit size required to buy house - taxpayers are on the hook for any shortfall.

Sorry, I was alluding to it being much worse soon, as in the States.

We'll all be underwriting our own mortgages, which is surreal

[AtW]

It's basically the US government underwriting all mortgages.

It's going to happen here too.

It's already happened as Osborne offered Govt guarantees to reduce deposit size required to buy house - taxpayers are on the hook for any shortfall.

[Old Hack]

BBC News - US house prices 'in biggest rise for nearly seven years'

You don't think it's the trillions of £$Yen "printed" that went into govt bonds (debt) that's now being sold and piled into everything else then?

It's basically the US government underwriting all mortgages.

It's going to happen here too.

[tractor]

How many immigrants actually own houses and how many of those houses ain't packed fully with their family or rented to other immigrants?

At start I rented a room in a house - other rooms were also rented out, you can't get more efficient with house stock than this. Many immigrants share rented rooms to cut costs.

The main reason for high house prices is continued reckless lending by banks that was and still is encouraged by the Govt in the first place.

It is the Govt that is **** scared that house prices would drop massively - that's the only thing they really did in the whole crisis - propped up residential real estate bubble with freshly printed money.

Let it all crash and find its' own price.

What is the difference between 'rich' (financially reckless) homeless and poor homeless lol

[AtW]

Planning minister; "Immigration is driving up house prices prices. 2 million immigrants over the last decade has left Britain short of houses."

How many immigrants actually own houses and how many of those houses ain't packed fully with their family or rented to other immigrants?

At start I rented a room in a house - other rooms were also rented out, you can't get more efficient with house stock than this. Many immigrants share rented rooms to cut costs.

The main reason for high house prices is continued reckless lending by banks that was and still is encouraged by the Govt in the first place.

It is the Govt that is **** scared that house prices would drop massively - that's the only thing they really did in the whole crisis - propped up residential real estate bubble with freshly printed money.

[doodab]

BBC News - US house prices 'in biggest rise for nearly seven years'

You don't think it's the trillions of £$Yen "printed" that went into govt bonds (debt) that's now being sold and piled into everything else then?

Nah.

[DimPrawn]

BBC News - US house prices 'in biggest rise for nearly seven years'

You don't think it's the trillions of £$Yen "printed" that went into govt bonds (debt) that's now being sold and piled into everything else then?

[Mich the Tester]

many are here for jobs as there are none at home, they also benefited from free healthcare and benefits (subject to qualification) why would they go home if benefits remain at 3 times higher than average wage at home?

lets hope it doesn't have to get as bad as Ireland before people want to go home.

Many immigrants from outside Europe won't 'go home' because if they do, it's bloody nearly impossible to come back to Europe again; by cutting off circular migration, which is a completely normal, everyday occurrence in many parts of the world, European countries have ensured that once people from overseas get here, they stay even when they find themselves with no job and little hope of improving their lot.

[vetran]

many are here for jobs as there are none at home, they also benefited from free healthcare and benefits (subject to qualification) why would they go home if benefits remain at 3 times higher than average wage at home?

lets hope it doesn't have to get as bad as Ireland before people want to go home.

[alreadypacked]

https://www.facebook.com/TheUKIP/posts/590777804275948

Planning minister; "Immigration is driving up house prices prices. 2 million immigrants over the last decade has left Britain short of houses." ....He wouldn't have dared say that before the UKIP by-elections results which finally released the cat that must never be spoken of out of the bag......................Now 'houses better than green fields' minister says immigration is driving up home prices | Mail Online

only paper covering it, sorry.

Immigrants are in the UK to get money to send back to their family/home countries. The £ is currently over valued, so the £ will buy a lot overseas. If the £ crashes many of the immigrants will leave. They left Ireland after the crash.

Switzerland has see an increase in the number of immigrants arriving, but they are having trouble bypassing the Swiss rules and move on. No dole here.