Thirty year moratorium on right to buy.
And boomers wonder why millennials are bitter towards them..
- Thread starter Scam
- Start date
Thirty year moratorium on right to buy.
Just NO!
It is MEANT to be about everyone having a roof over their head without being ripped off by greedy scumbag BTL landlords.
Any attempt to spin it as "investment" is just attempting to justify greed by putting lipstick on the pig.
Second home tax should be high
I'm not sure it can be fixed anyway, because as you see, melenials will just jump on the band wagon once they get a chance.
I think most normal people would be happy with that.
Although a "BTL" normally refers to people who acquire a second mortgage to fund another home for renting out purposes. That's not really going to stop those who already have the capital to purchase a second home to rent out. Or those who claim they've become an "accidental landlord" by inheriting a property, and rather than selling have decided to let it out on the assumption that it will earn them more money.
It also begs the question why Rashford needed to acquire a mortgage for these properties. For someone who earns 10 million a year, his monthly take-home is ~460k. I'd imagine as with most footballers his age he has fairly high outgoings, but even so, a year of savings would easily net him enough to buy those 5 properties outright.
Associate
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If you want to live in the best areas of the country you gotta pay the high prices. Plenty of cheap housing up north. If you arent being paid high wages in the south then move out.
Why should 2nd home tax be high. It's not people who own 2 homes fault. They have paid for them with money they likely earned.
I wish the country was more balanced economically but it isnt due to lack of investment in anywhere other than the south east. You southerners vote conservative traditionally. Your fault.
Why should 2nd home tax be high. It's not people who own 2 homes fault. They have paid for them with money they likely earned.
I wish the country was more balanced economically but it isnt due to lack of investment in anywhere other than the south east. You southerners vote conservative traditionally. Your fault.
Whichever way you look at it, it's an investment. It's just that many don't think property should be invested in. I guess the irony is that most of us are invested in property via our pensions.
Maybe it's different where you are, but I don't see BTL landlords ripping people off around here - the market is too competitive for that.
Caporegime
So how many people need to move North for it to balance out then? We've seen an influx of southerners moving up this way in recent years and all it does is push the house prices here further North
Maybe we should just push all of the peasants into Scotland and the worst of the worst can inhabit the islands off the coast?
Increasingly onerous taxation as the number of additional houses increases. Make it just a place to 'park money' rather than make a profit. Significant investment in social housing to provide a public sector pressure for lowering rents.
I agree, i don't think it's one of those things that can be fixed. Home ownership is less of a reality and more of a dream for those who are earning under average salaries.
It's unlikely that house pricing is suddenly going to become much cheaper just because we tax landlords more of their earnings from rentals. - We should do that anyway, but i'd like to see more favourable terms for the tenant - such as long term ASTs, and no chance of eviction if the tenant is not in arrears or has any anti-social complaints against them. The premise for being a landlord should be made for long term, and not for people to make a quick buck.
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So how many people need to move North for it to balance out then? We've seen an influx of southerners moving up this way in recent years and all it does is push the house prices here further North
Maybe we should just push all of the peasants into Scotland and the worst of the worst can inhabit the islands off the coast?
Well if there was more investment in the north in infrastructure house prices would be more in line with wages everywhere.
We've seen an influx of southerners moving up this way in recent years and all it does is push the house prices here further North
Exactly this.
Manchester's house pricing is going through the roof. If you want a luxury apartment in the city now, you're looking at £1mil+. That's coming up to London's prices.
Housing in the suburbs of Manchester has also been shooting up over the last few years.
Soldato
Mortgage rates are dirt low, he's probably getting more interest on his capital elsewhere.
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I have rented an apartment from a dodgy landlord who stole my deposit because he claimed there were fleas.
I have lived in my own house with a mortgage
And I have rented a house out to hopefully non dodgy tenants.
There should be better council housing and more of it too and there should be more homes built. Especially in the south east.
but punishing buy to let landlords isnt the solution. It will just make rent prices go up. They mostly arent ripping you off. Keeping a house in good condition and paying and getting a mortgage isnt cheap. Otherwise you would just do it yourself. You are paying for a service.
I have lived in my own house with a mortgage
And I have rented a house out to hopefully non dodgy tenants.
There should be better council housing and more of it too and there should be more homes built. Especially in the south east.
but punishing buy to let landlords isnt the solution. It will just make rent prices go up. They mostly arent ripping you off. Keeping a house in good condition and paying and getting a mortgage isnt cheap. Otherwise you would just do it yourself. You are paying for a service.
Soldato
What are people meant to do with their earnings? Just buy themselves one house. Spend money on a car and some furniture then donate all further income to charity?
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Yes but you arent living in the same city as you were 10 years or 20 years ago. Metro link extensions. More jobs, better jobs and gentrification mean you arent buying the same product. House prices go up for a reason mostly.
If you want to earn a return from your capital, there are less socially damaging vehicles than property investment. Bonds, stocks etc
How about investing in a startup, something creative or constructive? Too risky
To be fair if I get a chance , I'll do the same, I'll get a buy to let.
Soldato
Both have a limited return or more risk than property.
I think we can all try and be moral about it but most of us would buy second /third properties if we were rich enough.
It's worse "morally" if you're a high earner though
I didn't think we were arguing that renting should be illegal, more that there should be limits to the hoarding of housing. So second home OK, tenth not OK
Even if you believe the former isn't ethical, there are degrees of morality