To be angry that this government has further shafted everyone bar homeowners

[Kitchendisco73]

The eviction ban ends and the prediction is that about a million people who rent will be in trouble and at risk of losing their home.

Alongside that, the government has also shafted anyone who is a first time buyer by creating a fake housing boom using help to buy and the stamp duty holiday as prices have risen so much, those who it was allegedly meant to help are priced out.

In Cornwall, I read there were 10,000 air Bnb properties but 62 for long term rent for local families.

www.theguardian.com/business/2021/jun/01/bank-of-england-monitors-uk-housing-boom-as-it-weighs-inflation-risk-dave-ramsden-covid

It’s entirely possible that there is a big housing crash coming too thanks to inflationary pressures.

Aibu to be angry- it’s just truly appalling and impossible for anyone (millions of people) who can’t get on the property ladder. Surely this madness has to end soon? You can’t just protect homeowners at the expense of everyone else. I am tired of the rampant inequality in this country.

YANBU.
It was all about home owners. It's just the way isn't it. Helping the ones that they government see as wealthier 'the rich stay rich'.

Indeed the government's support of the housing market through help to buy and that stupid stamp duty rebate was nuts. Plus mortgage holiday was stupid too. I'm not convinced the eviction ban needs to stay. But clamping down on second home ownership really needs to happen. And yes I can see a crash coming in the market even as a home owner.

The worst thing is that it’s now millions of people being shafted by high impossible rents, house prices that are now so high it’s beyond obscene (22x median salary where I live) and yet that is seen as acceptable use of public money? (Help to buy is using public funds to effectively support a housing Ponzi scheme)

I'm.a home owner and think it's terrible. I am worried about how my dc will ever be able to afford a home.

We need a definite shift in thinking in that first and foremost, property is a home that give security not an investment opportunity.

The eviction ban can’t stay forever, just as mortgage holidays can’t either. Both were needed when the pandemic first started but things have settled now. I don’t see a crash happening, houses are worth what people are prepared to pay and people are paying it. There are no shortages of people buying in my expensive area, houses are flying off the market even now with the stamp duty holiday ending. I agree something should be done about second home owners though especially in tourist areas.

In wales, where I am from, second home owners are buying up all the housing and local families can’t get near them. People who are homeowners are using the equity in their over inflated houses to buy second homes and destroy communities. It has to stop. It’s all because of government policy.

And all homeowners say they don’t see a crash coming (I am a homeowner) because they are so invested in how much their house it worth. And that is the fundamental issue here too.

The eviction ban can’t stay forever, just as mortgage holidays can’t either. Both were needed when the pandemic first started but things have settled now.

^This

* People who are homeowners are using the equity in their over inflated houses to buy second homes and destroy communities. It has to stop. It’s all because of government policy.*

^Er it isn’t because of government policy. It is because they want to buy a second home to make money. Market forces dictate that.

The cheaper houses that first time buyers should be buying are being bought by second home owners or people who own houses to rent out. It’s not right and it has to end.

I agree with you Op. We have relocated so our DS’ will be able to buy their own homes one day. But I appreciate many can’t do this. It is really tough trying to get on the housing ladder.

Property is often an alternative to a pension.

There is very little distinction (where I live) between SH rents and private landlord rents. The market price is dictated by market forces. So whether it's going into a faceless organisations coffers or whether it's funding a pension, does the actual landlord actually matter?

I look at something like L&Q or Peabody who are enormous SH holdings, and all the staff they have to pay, no wonder rents are inflated.

From their websites

• L&Q owns and manages more than 105,000 properties that house around 250,000 people.

-The Peabody Group owns and manages more than 71,800 homes across London and the South East. We also have over 18,000 care and support customers.

@drpet49 it’s government policy to use help to buy to inflate house prices hence giving existing homeowners greater equity to enable them to do it. It’s got fuck all to do with market forces- it’s a rigged market.

And I should add on 'right to buy' inflated the housing market back in the 80's.

With the benefit of hindsight, the most stupid idea that is the causation of today's housing market problems.

ITS NOT MARKET FORCES! Help to buy uses public money to inflate the housing market under the guise of benefitting first time buyers - so much has been written about it.

Life's not all roses for homeowners. I'm raising a family in a tiny flat we bought 12 years ago and have long outgrown. We can't even dream of affording a small house for us all. People in all sectors are just trapped.

Let’s not forget the thousands upon thousands of people who received government money to be on furlough at 80% salary during a pandemic and businesses who benefitted from government funds too. Really, they did nothing to help the public through these horrible times. Just nothing. Look - they could have been like TRump and do so much.

@OneRingToRuleThemAll yes of course. Completely and more evidence that the housing ‘market’ is totally broken (it should never be a market though should it when houses should just be homes to live in)

Is your ire directed at the people where you are SELLING to incomers or just the incomers?

What’s going to change though? There’s a huge demand for houses and many can afford it. People are using those schemes so they are helping some people get on the housing ladder. There won’t be a crash. It’s always been the case that not everyone can afford to buy, but many still can including many first time buyers.

@LongTimeMammaBear but the housing market has been broken for years and this has just made it worse. Help to buy has been causing problems for the last 5 years at least.

@Littlemoons my ire is directed at the government mostly but yes, I do get fed up of people who buy houses to live in 3 weeks of the year- it means communities lose shops and schools etc as there is no one living there for half the year.

not to mention the obscenely low interest rates encourage high house prices - 11 years of low low rates. Savings interest rates - lucky if you can get .01 percent !

@Kitchendisco73

In wales, where I am from, second home owners are buying up all the housing and local families can’t get near them. People who are homeowners are using the equity in their over inflated houses to buy second homes and destroy communities. It has to stop. It’s all because of government policy.

That's more the crux of the issue.

People have invested in second homes and buy to let property as the return on savings is so low. If the interest rates were to rise and savers were able to get a reasonable return on their savings they may not look at property for investment but then that increases costs to borrowers and potential borrowers.