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to think the reason house prices are kept dangerously high as MPs are usually landlords

(61 Posts)
sazhamer Sat 22-Nov-14 07:37:03

I think one of the most damaging thing in the UK is that the average house is 9 times the average wage.

It seems like every mp owns many of them so have vested interests to keep them proped up.

Aibu to think they are doing this on purpose?

MelanieCheeks Sat 22-Nov-14 07:39:42

"kept"? How does that work then, in a free market economy?

Altinkum Sat 22-Nov-14 07:39:53

Message withdrawn at poster's request.

sazhamer Sat 22-Nov-14 07:41:04

How is it a free market when rates are kept artificially low and money is printed? That the very opposite, a rigged market.

Bowlersarm Sat 22-Nov-14 07:42:58

How many MP's own more than one home?

MelanieCheeks Sat 22-Nov-14 07:44:30

By rates do you mean interest rates? Which have been at an unprecedented low level for the past 5 years?

longjane Sat 22-Nov-14 07:49:45

I do wonder why no party has come with the idea of rent control .
They have cut housing benefit .
But why not some kind of control I'm how much rent can be charged?

mynewpassion Sat 22-Nov-14 07:51:05

You are anointing them with power that they do not have.

sazhamer Sat 22-Nov-14 07:53:41

Not really. They could bring down prices overnight with taxes on 2nd homes and homes bought by investment companies that no one live in. But they don't. They have the power.

bluevanman Sat 22-Nov-14 07:56:52

YABU

I know many landlords who own many houses and they're not MPs.

MPs don't set house prices.

I earn the average wage and I bought an "average" house for 2.5x my wage, not 9x.

WorkingBling Sat 22-Nov-14 07:57:52

Haha. This kind of naïveté makes me laugh. Look at outrage re mansion tax and that only affects a few people relatively speaking.

Yabu. MPs are often obnoxious people but this kind of conspiracy theory is both impractical and silly.

Uptheairymountain Sat 22-Nov-14 07:58:45

There used to be rent controls, but tha was all stopped in the (late?) 80s. It might be a good idea to bring them back.

jackydanny Sat 22-Nov-14 08:01:19

YANBU.
I don't think anyone should be allowed more than one home.

Bowlersarm Sat 22-Nov-14 08:01:42

OP, you can't make such a sweeping statement without backing it up with a figure. So, again, how many MPs have second homes which they own?

mynewpassion Sat 22-Nov-14 08:02:56

Corporations and people who can afford second homes can also afford to pay the taxes.

sazhamer Sat 22-Nov-14 08:04:32

1/4 of Tory MPs do, its the most common source of additional money.
The group found several examples of MPs owning more than one rental property. James Clappison, Tory MP for Hertsmere, topped the charts, having been found to own 26 homes he rented out across east Yorkshire.
‘Not only do MPs enjoy taxpayer-funded second homes, many of them also have a portfolio of rented houses too,’ said Katy John, a spokesperson for Pricedout. ‘Many first-time buyers are trapped in the private rented sector, 94 per cent of whom would like to buy their own home.
‘Tenants in this country face some of the worst levels of housing security in Europe. First-time buyers desperately need house prices to fall to more affordable levels, but landlord MPs at the very top of the property ladder have a vested interest to not let this happen.’

bluevanman Sat 22-Nov-14 08:09:06

So the biggest landlord of all the pms owns "only" 26 houses? That shows how stupid this post is

bluevanman Sat 22-Nov-14 08:09:53

MPs hmm

Bowlersarm Sat 22-Nov-14 08:11:13

Hmm well I'm still sceptical that MPs 'usually' have more than one home.

But many MPs will only be elected for one term of under 5 years before losing their seat - it's hardly a job for life for many - so it is only fair they have other ways of getting an income. Being in politics must be very unreliable as a job.

I don't really see it as their fault that the market is such as it is.

Andrewofgg Sat 22-Nov-14 08:12:05

If 650 Members owned 26 houses each that would be 16,500 houses, which is not a significant number. This is classic conspiracy-theory nonsense.

MuddyBootsAndPinkCoats Sat 22-Nov-14 08:12:53

It's not politicians it's banks.

Mortgages used to be around 3x peoples wages. These days it's what 9x / 10x ?

If interests rates rose a point or two they'd be a great number of people who'd default because they took on an unsustainable X10 wages mortgage.

It'd be carnage, and given the banks own most of those homes via mortgages or reposition a re-adjustment to house prices to a more sensible level would wipe billions /trillions off their balance sheets.

The solution has been QE. Print money and give it all to the banks, and then watch an underclass develop who barely get a living wage take the brunt.

No one under 30 has a hope in hell of buying a house now without rich parents.

NotDavidTennant Sat 22-Nov-14 08:13:10

"How does that work then, in a free market economy?"

Housing benefit, planning controls, quantity of social housing.

That's three I can think of with a few seconds thought, I'm sure there are more.

angelohsodelight Sat 22-Nov-14 08:13:54

Do you are saying that just over 500 MPs control the majority of the 8-9 MILLION rental properties.....?

Really? Think before you type!

bluevanman Sat 22-Nov-14 08:14:10

Spot on Andrew

mynewpassion Sat 22-Nov-14 08:17:45

I don't think that the OP is talking about changes for the better in regards to housing benefit, planning controls, quantity of social housing.

She's just saying that the MPs owning more than one house is driving up the cost of the housing market. wacky conspiracy theory.

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