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.

Something definitely needs to be done about second home ownership. Not sure what but I’d start with taxing the hell out of them.

Help to Buy is a massive scandal. I can see it all coming out when we eventually have the next enormous crash. People will look back in horror

@Dingleydel yes it really is and it amazes me how few people really understand this and the economics of it

YANBU. It's a sad state of affairs. A home is a fundamental need.

@dontbequick

With respect, your example applies to at most perhaps 1 in 1000 people. Probably more like 1 in 10,000. Unaffordable housing and rents are screwing millions.

We managed to buy just before the market went crazy. Our house price has risen by 25% in the 8 months we've owned it. We'd be priced out now. It's disgusting, we only have a very basic starter home. How are young families meant to get on the ladder when prices keep going up? So many friends who were getting their deposits together are now further away from owning than before.

I'm so thankful we bought when we did, but were lucky. I'd happily give up all my equity to keep homes more affordable. But how many others would? Because that's the issue, the housing crisis is too profitable.

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
This to me is what is very wrong. Why would you as a first time buyer think you should be entitled to a house right away?

In many countries, a house is a massive luxuries and for the majority, their first housing purchase is a flat. If more people bought a flat first before having children, they would find it much easier to then go on to buy a home when they go start a family.

This is the biggest divide I see. Families who wait until their 30s, often late 30s to have kids after they were able to get the house they wanted. The other side is young people who go on to have kids, 2 or 3 whilst still renting on a low income and then complain they can't become home owners.

You have to ask why so many people are purchasing second homes? I think one of the issues is around pensions. Im in my 50's as are many of my friends, occupational pensions were not a thing when we started working 30 years ago unless you were in the state sector e.g. NHS. We have friends who've inherited money not paid into a decent pension scheme and are purchasing a holiday cottages in the SW (they are already home owners), e.g. friends bought a coastal property in Cornwall for £260k (3/4 of the money she inherited) and now rents it out on AirBnB for £1.5k a week minimum, she views this as her pension. Whilst interest rates are very low and other investments are more risky and more complicated to sort out and may requite specialist advise buying a holiday let in popular tourist area seems like a great and easy way to have pension plan.

As a homeowner YANBU and of course government monetary policy and gel to buy, lack of regulation is to blame. Where I live, things have got so bad that homes to buy or rent are being snapped up, sight unseen, largely by people out of area. People who have established careers here and kids settled in school, some key workers, now have longcommutes or are living in vans in car parks and roadside. Holiday homes and Air Bnb should require planning permission with strict quotas on the proportion granted.

*help

Our house price has risen by 25% in the 8 months we've owned it. We'd be priced out now.

Same here. Bought last year and things have gone bonkers now. We were so incredibly lucky and we also had the most wonderful vendors who despite having lots more offers stuck with us.

Stamp duty holiday and setting ultra low interest rates.

YANBU

@vivainsomnia many first time buyers can’t even afford flats. Or any kind of property.

@JellyTumble - home ownership rates are lower in the uk than a most european countries. I think the uk is 28th out of 35 so 27 eu countries had higher ownership.

Germany is a big one that sits around 50% ownership (so about 10% less than us) but they have very different rent agreements.

The reason a lot of people dont like renting is the lack of security and rent. People can be evicted very easily and resnts can rise all the time.

Im sure renting would seem more desirable with the terms in germany.

The situation is currently untenable, I reckon the only way forward which wouldn't fook over existing homeowners (joining renters who are already fooked on the whole) is for house prices to stabilise and significant pay rises across the board.

It would prob take govt intervention to achieve both ie price controls in that house prices linked to inflation (with allowances for improvement) and real living wages implemented.

It sounds extreme but the situation will not get better on its own. That said can you imagine this govt doing anything that would benefit low paid workers aside from saying the phrase 'levelling up' over and over again?

[quote supermoonrising]@dontbequick

With respect, your example applies to at most perhaps 1 in 1000 people. Probably more like 1 in 10,000. Unaffordable housing and rents are screwing millions.[/quote]
Yeah so it doesn't matter then does it ? It affects a lot of people and it's a really big problem for those it affects. Then to come on here and be slated for being a second home owner, is just the cherry on top.

In many countries, a house is a massive luxuries and for the majority, their first housing purchase is a flat. If more people bought a flat first before having children, they would find it much easier to then go on to buy a home when they go start a family.

In many countries, the rental laws aren't such total shit, flats aren't built with fag papers and neighbours are not allowed to behave however they feel and get away with it.

In many countries, a flat doesn't cost £250K to start so homeowners can then say, 'Well, they deserve it for not buying a flat' and there's no ridiculous outdated myth of a 'ladder' when it comes to the roof over peoples' heads.

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.

That's not what I asked though. I asked if your ire was directed as the people from your local community SELLING their homes to 'outsiders' or just those outsiders moving in? The vendors have a chose and presumably are much closer for you to have a direct conversation with?

All the airbnb ers should be paying tax on their income. So in a way that money should be fed back into the system. If they had the money in the bank with 0 interest there would be no tax gain.

It's sad that coastal towns become just holiday homes but I can't see how you avoid it.
I would think there will be a correction in the housing market eventually. There is nowhere else to invest money at the moment. The stock market isn't as secure since covid (depending where you invested your money).

@dontbequick ultimately your example is yet another example of a broken housing market though isn’t it? Yes people in flats with dodgy cladding have been shafted too

The move somewhere cheaper argument does really work in North wales.

Anglesey/Ynys Mon s.next area over would be Bangor, which is mainly student accommodation (and so expensive to rent in).
Then conwy Valley and snowdonia has been very developed such as surf snow donia/zip wires etc so that's a no go.
Conwy County has llandudno, a few castles, sailing etc.so that's also a no..

I have no problem with English people enjoying Wales as tourists at all, happy for the money they bring and the improvements in public transport/roads etc. But I don't think it's much to ask to stay in hotels or holiday villages.

I think welsh assembly are looking at 100 percent increases in tax on second homes now

@Kitchendisco73, as my question for you above didn't @ you

@TheoMeo

All the airbnb ers should be paying tax on their income. So in a way that money should be fed back into the system. If they had the money in the bank with 0 interest there would be no tax gain.

It's sad that coastal towns become just holiday homes but I can't see how you avoid it.
I would think there will be a correction in the housing market eventually. There is nowhere else to invest money at the moment. The stock market isn't as secure since covid (depending where you invested your money).

Holiday rentals incur lower tax rates than BTL. Again making it attractive to those wanting to invest money often inheritance to generate a decent income in retirement.

The reason a lot of people dont like renting is the lack of security and rent. People can be evicted very easily and resnts can rise all the time.

Not to mention so many amateur BTL and accidental landlords, the pervasive attitude that the property you rent is the landlord's home and as such they can do all sorts whilst taking money to get it out (hence, the short-assured tenancy and 'I need my house back so the tenant has to go) and the unregulated estate agent industry ripping off everyone involved in it.

@Littlemoons I get what you are saying. I guess it all comes from a place of making as much money on housing as possible though because we have moved so far from housing being a place of shelter. In wales though it basically requires the WG to legislate and bring on rules about how much of a town can be sold to incomers as holiday homes.

[quote Kitchendisco73]@dontbequick ultimately your example is yet another example of a broken housing market though isn’t it? Yes people in flats with dodgy cladding have been shafted too[/quote]
Yes it does demonstrate that. But it also demonstrates that there are many reasons why people may be second home owners. Buying up housing to fuck everyone else over, isn't always the reason.