To think there is a serious problem with the housing market in this country

[Kitchendisco21]

I was just about to buy my first home having spent 10 years saving a deposit. Thanks to the stupid help to buy intervention, the houses I was able to buy are now 50k more expensive so I am completely priced out. I am so utterly sick of it.

And no, I can’t move elsewhere/ get somewhere smaller/eat fewer avocados! I have been saving for a decade.

Aibu to be so fed up. I read last week that 98% of keyworkers couldn’t buy a home in the uk now. When will people actually wake up & see what a major problem there is? I am so angry.

@AgnesNaismith

Urgh I wish people would stop using housing to ‘supplement their pensions’

what do you suggest they do?

what do you suggest they do?
Not be cunts, HTH.

@AgnesNaismith

Urgh I wish people would stop using housing to ‘supplement their pensions’

Totally. It’s the reason boomers get so much stick, despite many of us finding it morally repugnant.

Well, as I said, it's getting more difficult to do so. Big rental companies with hundreds or properties will be fine though, so the rich get richer...

@burritofan

what do you suggest they do? Not be cunts, HTH.

such a well thought and articulated argument. Well done, you have convinced everybody.

despite many of us finding it morally repugnant.

there's always someone who is offended or against everything you do. If you really believe anyone would care about them...

@thebillyotea

“what do you suggest they do? hmm”

Erm, use a conventional pension scheme holding assets in companies working in the productive economy, rather than hoarding shelter? You know, like a decent person.

There’s one idea. And you get tax relief at your marginal rate too. But most buy to letters really struggle with maths, so I guess that’s why.

I just don’t get it. Pensions in the UK work incredibly well, and are so simple.

Tax relief at marginal rate on way in, tax at very likely zero or a much lower marginal rate on the ay out, the possibility of salary sacrifice giving you further NI savings, an endless amount of diverse assets to invest in, one click of the mouse to reversing, incredible death benefits, drawdown as an option or an annuity....

...and yet still people think but to let is the best game in town. It’s baffling.

Most 3 bed terraced or semi detached houses in my area go for between £90k-£150k. Of course, salaries are terrible here so it’s still not easy.

We bought our house last year just before lockdown for £150k with a 5% deposit. Next door is currently up for sale for offers over £145k. I imagine it will go for slightly more than that but that might be wishful thinking.

Apparently it is morally repugnant to make money from a basic need such as housing. So no buying food, no getting paid to teach or nurse, work in water companies, funeral directors etc etc...

Oh, and none of the predictable anti landlord lot sleep with bankers or anyone who works providing mortgages, or do that job themselves. Because by this 'reasoning' that is repugnant too.

I await the logical explanation with interest. Have asked for it many times on here but never had a reply.

Call my bitter but I can’t feel too upset for the Queen right now as I read this guardian article that shared a report on how nearly 50% of land in the U.K. is owned by 1% and guess who was amongst the top of the list?

I call you bitter - plus another word beginning with the same three letters.

Erm, use a conventional pension scheme holding assets in companies working in the productive economy, rather than hoarding shelter? You know, like a decent person

They might be good now but they weren’t great and lots of people lost lots of money in company pension schemes over the years that is why a lot of older people don’t trust them. We remember what happened and who is to say it won’t happen again.

Erm, use a conventional pension scheme holding assets in companies working in the productive economy, rather than hoarding shelter? You know, like a decent person.

despite what you seem to believe, you don't own the moral compass and you don't decide what makes a "decent person"...

You might want to research what exactly happens with your so-called "conventional pension scheme", and their own investments in properties, because you sound like a simpleton 😂
How do you think they are (or can) be funded exactly?

Becoming a landlord is the opposite of hoarding shelter btw, but you are so narrow-minded you won't get that.

I just wish I could afford to buy more than a small holiday home and a couple of rental flats, but who knows, if the property market does crash, I might be able to.
And so will you

I think you'll find that 100% of land in the UK is owned by the monarchy.

@DastardlytheFriendlyMutt you for prime-minister, I would vote

@thebillyotea

Erm, use a conventional pension scheme holding assets in companies working in the productive economy, rather than hoarding shelter? You know, like a decent person.

despite what you seem to believe, you don't own the moral compass and you don't decide what makes a "decent person"...

You might want to research what exactly happens with your so-called "conventional pension scheme", and their own investments in properties, because you sound like a simpleton 😂
How do you think they are (or can) be funded exactly?

Becoming a landlord is the opposite of hoarding shelter btw, but you are so narrow-minded you won't get that.

I just wish I could afford to buy more than a small holiday home and a couple of rental flats, but who knows, if the property market does crash, I might be able to.
And so will you

You are clearly the simpleton because I use a SIPP. A self invested pension where I choose exactly what goes into it.

@murbblurb “ But Stevens isn't some aggrieved tenant, housing campaigner or left-wing academic. He's a buy-to-let landlord with eight properties who is exasperated at the behaviour of many of his fellow businesspeople.

Newspaper columnists, activists and politicians regularly brand them as unhelpfully leeching off those who are unable to get a foot on the housing ladder.

According to Stevens, the landlords' poor business decisions are partly to blame for the crushed dreams of their tenants: "In the old days, you used to rent a property while you built up capital to put down as a deposit on a property you buy. But landlords are mortgaged up to the hilt now so they have to charge very high rents, and that means tenants can't save for a deposit." So, in Stevens's view, those greedy landlords over-stretching themselves in the past few years have actually resulted in their tenants being trapped in the rented sector.

In England alone, the government's 2014 Housing Survey found that 19% of households were in the private rented sector, occupying around 4.4 million homes. This was a huge increase from 11% in 2003. And the number keeps rising.

According to the Association of Residential Lettings Agents, the average British landlord is 56, owns eight rental properties and has already been a landlord for 14 years - not quite the stereotypical image of a retired couple with a little flat that they let to supplement their pension.”

This is from a BBC article titled ‘why do people resent buy-to-letters so much’ from 2015

@Bythemillpond

Erm, use a conventional pension scheme holding assets in companies working in the productive economy, rather than hoarding shelter? You know, like a decent person

They might be good now but they weren’t great and lots of people lost lots of money in company pension schemes over the years that is why a lot of older people don’t trust them. We remember what happened and who is to say it won’t happen again.

Get educated. Modern schemes are nothing like the past ones. They are simply wrappers in which you can choose your own assets.

@VeniVidiWeeWee Oh shit, you’re right, it’s worse than I thought! “ The Queen continues to legally own all the lands of Britain, Canada, Australia, New Zealand, 32 other members (around two-thirds) of the Commonwealth, and Antarctica. Feudalism is not dead. It's just hiding. In Britain the Land Act of 1925 allegedly gave British subjects the right to two kinds of ownership”

@lllllllllll Who can afford the London prices? Most likely criminals and Saudi Arabia princes

@ChardonnaysPetDragon there’s NO social housing, people are renting from vile landlords who do 0 maintenance and live in housing that borders on uninhabitable! My landlord accepts benefit claimants but the building is a listed building which is sodden with water & tenants who complain get evicted

It’s absurd that rent payments don’t count when calculating mortgage affordability! Many rents are higher than mortgages but this fact is completely ignored.

@mibbelucieachwell thank you for recognising the truth, I’m in late 30s & the quality of life I have is how my parents lived in a communist dictatorship. I’m disabled so can only work 30 hours as a care worker & lining a greedy landlord’s pockets. He inherited many properties, he owns a lot of the town, him and another few Good Old Boys

@Corrag @murbblurb There’s a glaring conflict of interest. While the government is comprised of landlords, nothing will change.

www.legalandgeneralgroup.com/media/1091/lets_house_britain.pdf This pdf explains what the solution is. But it’s in the interest of developers to have a chronic shortage so why would they build enough housing? They can profit more if there’s a perpetual housing crisis