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.

@overthebow the government is using public money to prop up housing. It’s not a fair market- it’s rigged. Help to buy has massively inflated prices and has done very little to benefit FTBers. Prices doubled here when it was first brought in. If all the props were removed, houses wouldn’t be as expensive as they are. Coupled with historically low interest rates too of course and inflation is coming. When I bought, interest rates were over 5%

Housing has been broken for years. Starting back with the sale of council homes and the demonisation of council house tenants. Alongside that the incredibly insecure private rental market.

Is it a coincidence that most MPs are also landlords? That so many MPs own their homes and have second homes etc?

They don’t understand the needs of most of the population and they don’t want to make things better for renters because it will make things worse for them as landlords.

Furthermore, house building companies whisper in the ears of politicians and talk about the need to retain profits etc etc. As a result, policies are aimed at benefiting the profits of house builders.

We don’t have a physical housing shortage - we have a shortage of affordable housing. Ie if more properties were affordable, we wouldn’t need to build so many and we couldn’t need all these stupid schemes to prop up house prices.

It would be better to have a better social housing provision. Cut out the middle man, which takes a huge profit, and let local government provide and, where necessary, build houses. They can rent them out securely and easily recoup the cost.

This country’s housing market has been privatised and taken over by so many rich property speculators that those at the sharp end are suffering as a result, all to maintain their profits.

I think @LongTimeMammaBear was being sarcastic @Kitchendisco73. The tell was them praising Trump at the end when he didn’t do anything at all.

*Is it a coincidence that most MPs are also landlords? That so many MPs own their homes and have second homes etc?

They don’t understand the needs of most of the population and they don’t want to make things better for renters because it will make things worse for them as landlords*

@Iggly yes, quite! Rishi Sunak has 12 houses at least- it’s obscene. No one needs 12 houses.

YABU. These things were needed during the pandemic but now have to come to an end.

And we were first time buyers during the pandemic, along with many of our friends, so no, it hasn’t stopped people getting on the property ladder.

We live in a capitalist society. There’s nothing wrong with second homes - nobody has a right to live in their local area nor do they have a right to a property they can’t afford.

@JingsMahBucket yes I know that. And yes I know furlough was needed. But help to buy for years isn’t needed unless it’s to prop up an existing marker.

I’m guessing you have a small bubble of people who are very similar to you, with the odd exception. Like most of us.

A healthy economy is one where everyone can afford a home with decent wages. The major reason why people can’t afford a home is because they’re not paid enough - wages have stagnated for a long long time and fallen behind the cost of property.

That’s the biggest trick of capitalism. Making people think that it’s fair, when the reality is - those who really benefit are the ones who end up with most of the wealth to the detriment of many many others.

Sorry my post was to @JellyTumble

@JellyTumble I don’t think you understand what capitalism is. Help to buy isn’t capitalist, it’s actually very socialist to use public money to interfere in a market. It’s not a free market- it’s rigging a market.

The eviction ban can't stay forever, and I say this as a landlord with tenants I have no intention of evicting and who I intend to sell my BTL to as soon as they are ready (they want it but need to wait till things have settled down in the industries they work in).

I am also in an area of Wales where even before the pandemic 40% of homes were selling as 2nd homes/holiday homes, which is problematic and needs some strong action taken. But it is possible to take action at a community level without government intervention. In the village where I live nothing is making it on to the open market, every property sold recently had sold via word of mouth/ village FB group to people who have asked for properties there having either grown up there, rented there previously or have kids at the village school. It is awesome. I love were I live!

What is your solution?

While people get mortgages and are able to pay, nothing will change. Why should it?

It's part of the free market economy.

YANBU, OP. Where we live (mortgage paid off, thankfully) the prices have inflated to the point where we could not afford to buy a studio flat in the neighbourhood on our salaries alone - and we earn far more now in comparison to what we earned when we bought the house initially, with promotions and career changes Etc.
I think the rise in multiple home ownership as a savings choice happened due to the drop in interest on savings, the removal of final salary pension schemes, and a certain Mr G Brown declaring that people needed to fund their own retirement whilst bankrupting the country. Property as a commodity is what has driven the prices far beyond earning power, the only problem is how to reverse it? See the link for the figures - www.allagents.co.uk/house-prices-adjusted/

@Cyw2018 the senedd could legislate too. Or local councils could hike council tax on second homes and set at 500% of normal rates to discourage it

@Iggly I never said capitalism was fair. It is what it is, and it’s here to stay. I don’t see anything wrong with it.

If you can afford to buy a home, great. A second one? Good for you. If you have the money, you should be able to buy what you want. That’s a capitalist society.

OP I’m not talking about help to buy.

@JellyTumble

YABU. These things were needed during the pandemic but now have to come to an end.

And we were first time buyers during the pandemic, along with many of our friends, so no, it hasn’t stopped people getting on the property ladder.

We live in a capitalist society. There’s nothing wrong with second homes - nobody has a right to live in their local area nor do they have a right to a property they can’t afford.

Help to buy isn't capitalism it is taking public money and manipulating the market. The stamp duty holiday already applied for first time buyers before anyway. But adding it elsewhere turbocharged the market inflating prices out of reach.

Also the mortgage holiday was definitely not capitalism neither was furlough. It seems like socialism for the rich.

@Ylvamoon but we don’t live in a free market economy. That’s my point!

Feels like the Highland Clearances all over again up here. Modest homes that were affordable even to those on a low wage 18 months ago are just a few "annual holidays" for half of mumsnet. No bloody chance for the average now. I was looking at fisherman's cottages for 60k - that's pocket change for those from the south east.

@JellyTumble but you are still missing the point. The props in the housing market have made it completely rigged and unfair. So it’s no longer a case of people not being able to buy because they are too poor- most people can’t buy now. I know doctors and teachers who can’t buy. It’s not pure capitalism anymore - the market is being held up and rigged for the wealthy at the expense of virtually anyone who isn’t on the ‘ladder’ yet. It’s no longer a fair system at all

Kitchendisco73 please elaborate.

we own our home outright, If we wanted to, we could use the equity and buy a second home. Which we plan to do once things have settled a bit. No government involvement necessary

Help to buy benefits first time buyers though, not second home owners.

@JellyTumble

YABU. These things were needed during the pandemic but now have to come to an end.

And we were first time buyers during the pandemic, along with many of our friends, so no, it hasn’t stopped people getting on the property ladder.

We live in a capitalist society. There’s nothing wrong with second homes - nobody has a right to live in their local area nor do they have a right to a property they can’t afford.

Your last sentence sums up nicely why the housing market is fucked. when we address the fundamental issue of people needing homes as opposed to investments...maybe we can begin to sort this out. its a change of mindset.

@Ylvamoon I’m not sure what your point is?

You could start in some parts of the country by banning anyone selling a house that is a second home, or as buy to let. Guernsey has homes designated as 'local market', a principle that providing you define locals in a way that does not have loopholes and is not indirect racism I would support.

There are some problems which need complete reform not just tinkering at the edges. A Corbyn led Labour government offered people possibly a once in a lifetime opportunity for that, but he was rejected twice. I'm a homeowner and top 2-3% household income and I think people were nuts to pass up that chance. So instead we stick with one of the most unequal societies in Europe with the worst social mobility. And the government will continue to prioritise you according to your wealth - socialism for the rich.

@HercwasanEnemyofEducation except it doesn’t. This is the point of the entire thread.