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Old 9th July 2020, 08:36   #11
KWIL
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Partly if not wholly its the estate agents, always pushing for higher prices for their selling clients.

What other business can you name where their income (ie fees) goes up at such a high annual rate. Have you ever met a poor estate agent (or at least the Agency owners)?

There are also empty flats (in London at least) where the owners, often not locals, merely buy them for the capital gain on their "investmen".
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Old 9th July 2020, 09:22   #12
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Living half way between South East ludicrous and the North we have some reasonably priced housing which the first time buyers might be able to afford. Although a lot of our "new builds" are well out of range even for us and we're mortgage free .

I too look on a house as somewhere to live. It's not an investment, as such, it's where I call home.

For fear of causing an outcry I'd happily put a 100% tax, less inflation, on the sale of any second, or additional property. "Home" would be logged at at Land Registry and it can only be changed on the sale of the home. And yes, this would apply to MP's . That would mean that houses are used for living in, not as a speculative investment. The rental market would be included so landlords would be encouraged to rent rather than leave empty.

I'm sure there's some flaws in that but hey, it's just an idea that’ll never happen .

Andy.

PS. I blame the vast prices on the great God - Greed.

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Old 9th July 2020, 10:09   #13
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What we need at the moment is food for everyone not tax breaks for the rich, I cannot believe the sh1te this government spouts.. last week it was stay at home, this week it’s go to restaurants and dine out!

About time they looked at those living below the poverty line in this country.
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Old 9th July 2020, 10:47   #14
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That's the problem with all governments (whatever the politics) damned if they do and damned if they don't.
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Old 9th July 2020, 10:50   #15
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What we need at the moment is food for everyone not tax breaks for the rich, I cannot believe the sh1te this government spouts.. last week it was stay at home, this week it’s go to restaurants and dine out!

About time they looked at those living below the poverty line in this country.
There has to come a point where stay at home, becomes you can go out.

Putting stamp duty at 500k does surly benefit mr average more then mr rich. mr average may pay no extra on top of his purchase, mr rich has to pay an extra lump sum as his purchase may exceed 500k and at what income does mr average become mr rich?

Houses bought years ago have gone up in some places by hundreds of thousands, the owner then wants to sell and move but pays similar to what they sell for. Now has to find an extra lump sum, the increase in value of their property does not make them cash rich or even rich.

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Old 9th July 2020, 11:02   #16
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There are many owner occupiers who are assett rich but cash poor because of house price inflation, hurts others when it comes to death duties.
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Old 9th July 2020, 14:53   #17
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It’s simple. It’s a market just like any other. Along with anything else it has a particularly common component, people.

Housing is a secondary consideration in house building. At least it is now, when very few houses are being built for local authority renting. Even in those times there was not enough to go round.

It’s telling how, when needed, the mortgage conditions allow huge loans to be available to those who, for whatever reason, are not in a position to make it long term. Manipulating bank lending rates at each Budget, reducing the deposit which is increasingly relevant due to relaxed credit rules, or term extension is what regulates the market by selective exclusion of borderline buyers. It’s the one market where the buyer is captive forever.

The old arguments, about being a small island with limited land availability, no longer apply. There are literally thousands of brown sites that could be available with just a kick in the pants for local authorities and government to make minor changes to planning law. Crucially, they also have road infrastructure and services already in place - a huge saving which could be most helpful in pricing.

Instead of having elected representatives holding highly regulated control we now have private landlords using the demand for housing as a means of making a profit. I wonder if there are figures available comparing numbers of new build houses versus new flats? There’s nothing wrong with profit, but to evict a family who fall into payment arrears doesn’t sit too well.

The very first thing prospective sellers will do is to increase the price of their home, and then complain if the seller of the house they want does the same. Estate agents will do nothing different and solicitors will get the calculators out. HMRC will see a 15% drop in receipts.
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Old 9th July 2020, 17:46   #18
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It’s simple. It’s a market just like any other. Along with anything else it has a particularly common component, people.

Housing is a secondary consideration in house building. At least it is now, when very few houses are being built for local authority renting. Even in those times there was not enough to go round.

It’s telling how, when needed, the mortgage conditions allow huge loans to be available to those who, for whatever reason, are not in a position to make it long term. Manipulating bank lending rates at each Budget, reducing the deposit which is increasingly relevant due to relaxed credit rules, or term extension is what regulates the market by selective exclusion of borderline buyers. It’s the one market where the buyer is captive forever.

The old arguments, about being a small island with limited land availability, no longer apply. There are literally thousands of brown sites that could be available with just a kick in the pants for local authorities and government to make minor changes to planning law. Crucially, they also have road infrastructure and services already in place - a huge saving which could be most helpful in pricing.

Instead of having elected representatives holding highly regulated control we now have private landlords using the demand for housing as a means of making a profit. I wonder if there are figures available comparing numbers of new build houses versus new flats? There’s nothing wrong with profit, but to evict a family who fall into payment arrears doesn’t sit too well.

The very first thing prospective sellers will do is to increase the price of their home, and then complain if the seller of the house they want does the same. Estate agents will do nothing different and solicitors will get the calculators out. HMRC will see a 15% drop in receipts.
It is not nice to be evicted because people fall on hard times but the landlord has to pay his mortgage and that probably comes out of the rent money. Some people prefer to rent then buy although I feel renting is making someone else "rich" the majority of the time but still, there seems to be quite a market for rental properties, in Germany it seems to be the in thing.

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Old 9th July 2020, 18:53   #19
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It is not nice to be evicted because people fall on hard times but the landlord has to pay his mortgage and that probably comes out of the rent money. Some people prefer to rent then buy although I feel renting is making someone else "rich" the majority of the time but still, there seems to be quite a market for rental properties, in Germany it seems to be the in thing.

macafee2




It’s never nice to be evicted, no matter what the underlying reason. The human misery is shocking. Unless we’ve been there.....

Usually the landlord is a private individual with suitable independent financial back up and registered with HMRC. However, that is very different to local authority housing departments who have political (small p) obligations and very different outcomes to achieve.

There are a multitude of private commercial enterprises that are interested only in the financial aspects of housing and have no regard for the social effects of families being dispossessed. Or, as a poultice on a gaping wound, a fits-all solution to a recurring problem.

If there were alternatives to ‘private’ accommodation, such as local authority housing, it’s probably safe to assume resulting homelessness and families in foster care might be reduced along with the attendant social deprivations and problems.

That’s one aspect, the main objective would be the lessening influence of profit-seeking in the public sector as a result of the inflationary pressures of private enterprise. At the lower end of the housing market are the people who are less fortunate in life’s travel and hopelessly unable to get a mortgage. Private renting is impossible for them. What should they do to get on? Many an entrepreneur made their way without the assistance of a silver spoon.

A return to country-wide social housing on such a scale would resolve many of the social problems now prevalent, would provide genuine employment and prospects for so many of our otherwise underused assets and lead to real social improvement. What a way to start to recover from the damage currently imposed on us.

And, on topic, the profit embedded in a landlord's pension fund and share options would be more use to our combined benefit if it was in the public purse!
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Old 9th July 2020, 19:10   #20
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I've just read that back. It's pure 1940/50's Labour rhetoric! Just shows how you can face reality! I'm laughing my conservative (small C) head off! But I meant it all! Yippeeee! A convert! Watch out Keir.
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