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

[sazhamer]

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?

If its not the MPs, its corporations and rich people driving up prices. That's according to the OP.

What ill thought out tosh.

OP, what do you think would happen if house prices dropped? Drop them 10 years maybe, back to 2004.

It's a bit of a bizarre interpretation of the OP to imagine that she is suggesting that MPs own all or most private rentals.

I presume that point is that as most MPs own at least two houses (a constituency home and a London home) and many of them own more than that, then they have a personal financial incentive to support policies which maintain high house prices.

I doubt it is the only or even the main factor affecting house prices, but I'd be amazed if there weren't some MPs influenced along those lines.

I thought the op meant that because the people who run the country possibly have multiple homes, they would be adverse to bringing in laws that affected them personally even if it was for the greater good.

But I could be wrong. I usually am on political threads!

I think nothing is being done about the housing crisis because private landlording is the Tory dream.

Keeps the rich richer, and the poor poorer in one go. Lovely.

I do think politicians believe that high house prices are generally a good thing. It's really not because they're landlords though. History shows that when house prices fall or are stagnant people don't move house. I've never quite understood that - you'd the prospect of a "bargain" would encourage a buyers market but it doesn't seem to.

When they don't move house they don't employ conveyancers or removal companies, don't buy new carpets or furniture or decorating materials, don't have new kitchens or bathrooms etc etc. Not to mention the fact that new house building slows/stops. There is a massive knock on effect for the economy and jobs when house prices are not strong.

There are lots of damaging things going on in the UK, high house prices is just one of many, and there is more than one reason why house prices are high. It's very small minded to blame the problem solely on MPs.

It's difficult for some people when house prices are high, just as it would be difficult for some other people if house prices crashed. Neither group of people is more important than the other, all are part of society.

I completely agree with you, they are self interested and out for what they can get.

They could as you say:
Introduce rent control
Tax on 2nd homes

But they won't be cause they will lose out

No. It's due to Tony Blair buying up all the houses for his bloody family :)

I think the OP was merely suggesting a conflict of interest in this area. To start shouting conspiracy theory is perhaps reading too much into it.

?I'm astounded that anyone could think that the housing market is a free market. ?
Perhaps this stems from a very simplistic 'black and white' grasp of economics? ?

Dorling estimated that 25% of UK MPs are landlords, and this has led to that the creation of housing policies favouring the interests of landlords over renters

blogs.lse.ac.uk/researchingsociology/2014/11/14/danny-dorlings-insightful-lecture-inequality-and-the-1-what-goes-wrong-when-the-rich-become-too-rich/

This is bizarre: do you really think the number of MPs this country has could really have such an effect by owning more than one property?

?I don't think that the London School of Economics is prone to espousing conspiracy theories? ?

Obviously it's not the only factor which has led to over inflated property prices.

House prices are so high because there aren't enough houses to go round, it's estimated that we would need to build 300,000 houses a year in order to solve the housing crisis, we're building no where near that. Successive governments have failed to tackle the housing crisis and it could be argued they have no incentive to do so. Mp's usually own two homes, one in their constituency and another in London, subsidised by the tax payer, if the housing market were flooded with lots of new houses that would push prices down. That would leave mp's out of pocket.

I don't think OP is right but the argument that MPs own such a small % of total rental properties that they can't affect the entire market is nonsense. Of course if a majority of MPs own property and vote/legislate with their own interests in mind, then they can affect policies so they benefit all landlords and therefore affect the whole housing market.

Posters are wilfully misinterpreting the OP.

Turkeys don't vote for Christmas - and older people who have always had house security, and are often landlords themselves (and move in circles where that is typical) quite possibly don't appreciate how desperate it can be to be trying to house a family when you're in your twenties on an average salary.

People are not misinterpreting the OP.

I assume that just as many MPs own more than one home today as they did in the 1980s. If my assumption is correct then based on the OPs theory that MPs are keeping house prices artificially high because they own more than one home then why did we have a house price crash in the 80's? Surely if MPs have the power to keep house prices artificially high we would not have had a house price crash in the 80's or the more recent decline in house prices at the end of the last decade.

Turkeys don't vote for Christmas - and older people who have always had house security, and are often landlords themselves (and move in circles where that is typical)

Yes yes, but what has any of that got to do with MPs? Which was the purpose of the thread?

Politicians haven't set interest rates in the UK since 1998 when the central bank became independent.

House price crashes come after house price bubbles.

There have been a series of political decisions that have bolstered house values (Mortgage Interest Relief, favourable tax status for property investments, low interest rates, cash injections via shared ownership schemes and the Basel 2 regime which made mortgage debt relatively cheap for banks to hold, and hence encouraged generous mortgage lending).

Turkeys don't vote for Christmas - and MPs seem to see it as political suicide to do anything which may wilfully deflate house prices (eg tougher rules for landlords, tax on capital gains on property).

?? has no political party ever mentioned bringing in rent control over the last 5yrs??

what does rent control entail,what would possibly be the outcome if it was implemented??

if the political parties are not interested in it,why not ??

thank you

Rent control specifies that rent cannot increase above some specified index. It often goes hand in hand with rental contracts weighted towards the tenants (eg long notice periods if landlord wants to terminate contract).

In sum total the point is to treat housing as a social commodity held in private hands - and to discourage amateur speculation.