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.

Everyone should be able to live in clean, safe, affordable housing.

DH always says that Thatcher's RTB council housing was a ploy to stop people going on strike (as they may default on their mortgage.) I think that has led to a huge shortage in social housing, particularly in London.

We bought our current home last year, cash purchase. A house in our close identical to ours went on sale last month for 80k more than what we paid - the market is crazy as it sold straight away.
I feel dreadfully sorry for young people today with regards to property ownership. For many, it's just a pipe dream.

I think inflationary pressures could eventually lead to a crash or at least a massive correction through interest rate hikes. Could lead to many losing their homes as in the 1990s though so no one wins really.

25 years ago I bought my first house, it cost £37000. They're going for 200k now! (NW England.) Crazy!

Yanbu re the second homes OP. I'm in Wales and the second homes here are air b&b. It has created towns that none of the locals working in the tourist attractions can afford to live in.
Today there are 3 houses are right move to long term rent and 223 air b&bs to stay in, plus 613 people registered as legally homeless.
The maths just doesnt work.

On rightmove*

I am old enough to remember the crash in the 80’s/90’s too and no one expected that to happen either. Black Wednesday finished many people off overnight

You can't buy a second home via help to buy. So what's the point of your thread? That help to buy has caused price rises? Second home owners can clearly afford them. Second home owners are the problem, not help to buy. In non second home owning areas, help to buy has helped. Complete anecdata but in my small town, at least 15 people have been able to buy in the town that previously wouldn't have been able to.

The funniest thing is the British government has agreed to an expected 500,000 people arriving from Hong Kong over the next 5 years. That's another 150,000+ homes we will need right there.

And as well (sorry welsh hijack!) It's frustrating that it dilutes the use of welsh language in small towns, Anglesey is a perfect example.

I know doctors and teachers who can’t buy.

They can, if they move to a cheaper area. If they’re not willing to compromise that’s their choice.

And who said the housing market had to be fair? Life isn’t fair.

My son is only a toddler and he will probablt never be able to buy his own home. We save as much as we can to try and get a deposit together.

Owning your own home should be less of a 'luxury'. I'm in the south east and the cost of a three bed in my area starts at £350,000. It's not achievable for many people and it's very cruel.

I have worked hard my entire life and luckily own our home so I might have something to pass down to my children. I am the only one of my peer group who has afforded too, I'm 30 and my friends are teachers and NHS staff. The housing market at the moment is criminal.

@HercwasanEnemyofEducation my point is that help to buy inflated house prices. Houses have almost doubled in price since it came in. It’s been widely documented and criticised as a policy. Yet they did it again because they know this. House prices going up mean people have more equity that they can use to buy second homes hence creating further inequality.

@drpet49

*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

Totally.

@JellyTumble you're awful.

@JellyTumble it’s not fair because it’s a rigged market. It’s government policy.

They can, if they move to a cheaper area. If they’re not willing to compromise that’s their choice. And who said the housing market had to be fair? Life isn’t fair.

Ah, Thatcher's children. Warms the heart! They read "A Christmas Carol" and think it's a tragedy.

We could afford a rental property and could buy it with cash. It's not an option for us because it doesn't feel like the right thing to do. I guess every landlord has made the choice that it's worth it for them.

Every house round here in the £125k bracket is snapped up immediately by investors. I had thought that buy to let wasn't as lucrative any more but perhaps it is! And I suppose a £125k mortgage would only cost about £500 a month, just slightly less than the rent...

@Lollyneenah yes totally. What’s happening on Ynys Mon is a crime. As someone already said, it’s like the highland clearances

[quote LordOfTheOnionRings]@JellyTumble you're awful.[/quote]
Why?

Help to buy hasn't doubled prices. Lack of supply has done that. There are plenty of affordable houses, just in places that are less desirable to live in.

The equity creation bubble could all pop very quickly.

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

Most people can’t buy? That’s completely untrue. Everyone, literally everyone I know has been able to buy. Houses are flying off the market. People are buying and able to afford it. Of course there will always be some people who can’t afford it, as well as some people that prioritise other things in life over saving to buy a house, but I don’t think anyone can say most people can’t buy.

Surely it isn't home owners but second and rental "home" owners who need to.be better regulated. Cornwall is particularly hard hit by this, as you mentioned. Has the Welsh Assembly no regulatory powers? Is it worth lobbying them?

@JellyTumble

I know doctors and teachers who can’t buy.

They can, if they move to a cheaper area. If they’re not willing to compromise that’s their choice.

And who said the housing market had to be fair? Life isn’t fair.

unbelievable. maggies daughter. no community, no public service just serve self interest. The rich get richer. ....wealth inequalities will divide us.

@HercwasanEnemyofEducation you are just wheeling out all the classic lines like move somewhere cheaper, there’s a housing shortage etc. None of it is true.

There is a shortage of affordable housing because we are living through a government backed Ponzi scheme that has created a failed housing system

I have been writing a little about this too.
What I dont know though is, you keep saying inflation is coming. Which it well may.
But does that necessarily translate into high or higher interest rates?
The government is sooo in debt, it is not going to want high interest rates?

[Yes, I know that in theory it is not the government who sets interest rates.
But would the BOE totally ignore what the government may want?]

Which might mean there is a credit crunch instead??
Not sure how that would pan out either.

@lightand I agree about government debt and interest rates but once the inflation genie is out of the bottle, they know how hard it is to get it back in.

@KTheGrey it’s a big thing in wales at the moment and I think the WG will need to act imminently but I think local authorities are starting to act too by raising council tax etc. It’s not enough though- there needs to be action to stop it totally.