Will the housing crisis ever be solved?

[ByJustScroller]

Do you think there is any hope for young people wanting to buy in? I have friends and family where I live but now I am priced out. I am not just competing with locals but people who live in London and the ever increasing new arrivals. Housing supply has not kept up with demand for years and this government has no plans. I will be renting for ever.

Very soon, if not already, a life tied to large mortgage debt for a basic house will be seen as failure, in fact a lot of young people seem to be waking up to that fact and just staying at home so they can be actually well off in cash terms, they have also twigged to the education scam of borrow 50k at interest for a useless bit of paper, very interesting times.

The market doesn’t work when housing benefits distort it to this extent. I wonder what rents would be without benefits.

Housing costs rose sharply with Gordon browns over generous tax credit system, as the extra money in circulation just sucked up housing costs due to basic economics supply and demand. Over generous benefits have helped to fuel the house cost inflation and prevented any crash or slowdown.

I agree with this - social housing in one specific home should not be for life. I know of people in 3 bed properties that expect to remain there for life but who are now single occupants as children have left home, while others are starting families in a one bed and waiting years for a larger home. Private renters have no expectation of decades of pernance in their tenancy and, realistically, even homeowners know they need to upsize or downsize, often in the same area or sell up when they lose jobs/divirce because they can no longer meet mortgage and maintenance costs. Social housing shouldn’t come with an extended right of occupancy. Why are they more privileged than everyone else?

I fully agree- all forms of subsidised housing whether council or housing association should have tenancies renewed every 5 years at the most and terminated if certain qualifying criteria are no longer met. There are too many people who need the homes more than existing tenants, many of whom could make their own housing provision out in the open market.

I wouldn’t give up on buying just yet. If prices in your area are too high, look at nearby towns where you might get more for your budget. Even a smaller property could be a first step rather than waiting for the “perfect” home.
It’s also worth checking shared ownership, first-time buyer schemes, and speaking to a mortgage adviser to see what you could realistically borrow. Keep saving for the deposit and focus on what you can control.
It may take longer than you hoped, but renting now doesn’t necessarily mean renting forever.

I mean, home owners decorate (and maybe even upgrade their homes) and most go on to move house. Noting many move for the same reasons we’re discussing here: downsizing when they no longer need such a big house.

what makes you think those in social housing would do any different just because they have to move? It doesn’t make sense

The reason is obvious: to live in a house that better suits your tastes and is of a higher quality.

I decorated my last rental home that I stayed in for 2 years. I had to get permission first and had to choose a relatively neutral scheme but the landlord was supportive: why wouldn’t they be? They’re getting their property decorated for free.

Why don’t you run for local government, get elected to the House of Commons and lobby for change then. I’m sure what you propose will be the most brilliant idea they’ve heard for years.

I’m sure you spot the obvious flaw in your suggestion: local government representatives (councils) don’t get elected to the House of Commons….

No but if they try really hard and put themselves about they can become an MP