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.

@Kitchendisco73

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.

I agree with much of what you say in your OP, but people have been predicting a housing crash for the past decade, and I don't think it will happen - at least not while the Tories are in charge. The housing market is the last thing they will allow to fail.

Doesn't ** sorry!

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

It doesn't work in A LOT of places now. But it gives those who want to feel morally superior the warm fuzzies that they're far better and cleverer than others. We'll soon have guff about Costa, avocados, 'foreign' holidays, 'designer' clothes and 'the latest' gadgets.

@Lollyneenah

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

You can't have it both ways, "your happy they bring money in", holiday homes of which they appear to be at least 1/4 of. a million (probably more) must play a major role in attracting tourists who contribute to the economy meaning thus ensuring "improvements in public transport/roads etc" occur.

I honestly don't know who can afford the prices though! If you have a big enough deposit and if you are young enough to have a 30 year mortgage and if you earn enough then maybe - but who does? Oh of course, the rich that the Tories look after.

Something has to give. I believe it will. All these policies have actively contributed to the crash to come ...

We are reluctant landlords in that when my father went into care, we rented out his house to cover care home costs. Well, a market rent round here only covered a percentage of the cost, the rest to be paid on the sale of the house. He died in December. The council demanded immediate sale . The tenants( who were lovely..) were protected by Covid rules for 6 months. Council then began to charge interest on the debt and threaten legal action! As we couldnt sell a house with tenants in situ, the whole thing was a mess and hugely stressful. Eventually our solicitor told the council they had to fucking wait!. Being a landlord was no fun and we're glad to be rid of it.

24,423 second homes in Wales
11,400 abandoned/empty homes in Wales

That's a lot of abandoned homes/homes.

You're not wrong that the housing market is broken. You're not wrong that there probably needs to be something done about second homes. You're also not wrong that the rental sector needs looking at. But the eviction ban shouldn't stay. That rents aren't affordable doesnt mean people should be forced to accept someone living rent free (as theyre not paying) in a property they own racking up thousands of pounds of arrears. People should be allowed their property back - and yes, you could argue they'd be able to secure a money judgment for arrears but the prospect of seeing it all paid back, and in a timely manner, is extremely poor. The gov needs to control rents instead and impose a living wage.

People don't have to sell to second homes though. The people selling are just as much to blame as they are actively selling their community down the river.

People don’t think there will be a house price crash because there hasn’t been one even though it keeps being predicted. As long as people keep being able to afford houses (and they can, as they are buying, despite people on here saying no one can), then the market won’t crash. Many people can afford to buy and are buying, including first time buyers. Yes it’s unfortunate for those who can’t afford it but there always has been and always will be people who can’t buy for various reasons.

Home ownership not had any protection from repossession at all, if they lost their jobs their benefits would not have paid mortgages, where renters can have a housing element to cover rent?

Yanbu to feel anger in respect of the eviction ban, but it is not the fault of homeowners and the government have not protected them over and above renters in any case.

Sorry got my figures wrong ion holiday homes in Wales (Im not wearing my glasses!!). Im trying to find uo to date figures its not easy.

@Whoarethewho

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 stamp duty (LBTT) discount ended in Scotland in March. There's also a tax penalty to pay on second homes. Despite that, the market is completely crazy, with properties selling for tens of thousands over home report valuation.

It isn't just stamp duty discount driving this boom, nor would it appear that taxing the purchase of second homes is having much of an impact on demand.

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

Exactly. People have had plenty of time to gain work to lay back arrears.

You cant stop people buying second homes. Upto them what they prioritise their spending on. Many make different choices then moan they can’t afford x, y and z.

@Kitchendisco73
"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."

We'll councils have the power to stop this but most don't. Don't agree with your original assertion but do think second home ownership in the tourist hotspots should be stopped to protect local communities from becoming deserted apart from the odd weekend visitor

It isn't just stamp duty discount driving this boom, nor would it appear that taxing the purchase of second homes is having much of an impact on demand

Exactly. Because despite what people like to moan about on here, it isn’t just second home owners buying property at the moment. Plenty of first time buyers and people buying the next house on the ladder can afford to buy and are buying. House prices are high but not unaffordable to many.

Many make different choices then moan they can’t afford x, y and z.

House! Lattes, 'foreign' holidays, 'the latest' tech . . .

I actually think second home/holiday home buying should be banned. It rips the heart out of so many rural communities in particular. Obviously that's completely impractical and will never happen but it disgusts me that so many smaller 'first home' properties are taken by greedy people who price locals out of the market.

*"The stamp duty (LBTT) discount ended in Scotland in March. There's also a tax penalty to pay on second homes. Despite that, the market is completely crazy, with properties selling for tens of thousands over home report valuation.

It isn't just stamp duty discount driving this boom, nor would it appear that taxing the purchase of second homes is having much of an impact on demand."*
How much is second home ownership contributing to this boom? I genuinely don't know the answer to this. I've recently moved to rural Scotland prices are considerably cheaper here than even just over the boarder in equally in stunning rural areas, and they are considerably cheaper in rural areas/small towns than in cites e.g Glasgow/Edinburgh. If you think you are going to be working from home long term and its a choice between a smallish flat in Glasgow or Edinburgh or a detached 4 bed house by the sea/loch I know which one I'd choose.

@osbertthesyrianhamster

Many make different choices then moan they can’t afford x, y and z.

House! Lattes, 'foreign' holidays, 'the latest' tech . . .

Of course peoples choices affect their ability to afford a house. Of course someone who prioritises having children first, working part time, going on holidays, having cars on finance, lots of meals out etc. will find it harder to afford to buy their first house than someone who prioritises saving for a deposit first.

I'm about to be in a position to own two homes, but my young adult DC will be living in one of them. I would rather be their landlord than someone else, and I don't think that makes me unscrupulous or evil. It's just been how things have panned out in my life, a lot of it luck. I managed to get our family home by the skin of my teeth on a 95% mortgage about 7 years ago, in a cheap area. Now looking to move due to work, but leave the established DC behind in a familiar area with good transport links. I wish I could help them buy their own place, but this is a good compromise imo.

There you go! People who cannot afford to buy, anything, didn't prioritise.

many first time buyers can’t even afford flats. Or any kind of property
There will always be people who can't afford it just as many who don't want to buy. There are however also many who could afford a one bedroom flat but they have opted to have children first, so that their need becomes a 2 or 3 bedrooms and they want the garden for the kids. They then blame the government.

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.

Isn't there always at least a million people who rent at risk of losing their home?

Why should landlords put up with six month of no rent payments before they can take any action to evict a tenant?

Why should the tax payer have to pick up the tab to rehouse people who have been evicted?

Private rental just doesn't work for anyone, rents are too expensive, often far more than a 95% mortgage.
We need large number so unskilled and hence low paid workers i.e in agriculture, supermarkets, logistics, deliveries, cleaners etc etc

These people can never buy a house but is it fair that 50 to 75% of their take home wage goes on rent?

What this country needs is huge numbers of social housing, where rents are affordable and people who can, are able to save and better themselves.
What it doesn't need is more "affordable housing" and FTB schemes because it isn't affordable at all & is often used by already wealthy parents to get their kids cheaply onto the housing ladder.... which is what a neighbour has done (he earns 200k p.a) to get his children a property each.