Housing crisis solutions

On tge radio an Estate Agent stated that 50% of new build were sold to investors, most of which were overseas buyers.
Why has this govenment and previous administrations failed to resolve the housing issue? I think it's because there are powerful businessmen who fund parties and have a stake in what happens as regards these policies.
The reason why I come to this conclusion is that I have numerous ideas that would definitely resolve some of the housing issues; and I'm not even a politician, nor did I go Oxford of Cambridge.
The govenments have faiked the people of this country who are in their 20s, 30s and even some in their 40s
 
I don't believe there is a 'crisis' just entitlement issues as a result of a period where home ownership % increased very rapidly before dropping a bit. Not everyone gets to own a property and that isn't necessarily something we need to 'fix'.
 
VincentHanna said:
It's weird, my Dad had a mortgage that was paying him interest at one point!
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It is unlikely and possibly a misunderstanding on your or your dad's part. There were certainly below base rate trackers that in theory should have gone into negative interest rates post the financial crisis but AFAIK none of them actually did pay out but rather people still ended up paying a nominal £1 per month. Though am curious if there were some that did pay out (source?) as really I think they ought to have done so.
 
dowie said:
I don't believe there is a 'crisis' just entitlement issues as a result of a period where home ownership % increased very rapidly before dropping a bit. Not everyone gets to own a property and that isn't necessarily something we need to 'fix'.
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Yet so many individuals are judged for this. This forum was exactly like it and looked down on individuals. That view has greatly changed the past year.
 
dowie said:
I don't believe there is a 'crisis' just entitlement issues as a result of a period where home ownership % increased very rapidly before dropping a bit. Not everyone gets to own a property and that isn't necessarily something we need to 'fix'.
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Not everyone wants to own a property either, or indeed expects to.

BUT ....

What the vast majority of people DO want is somewhere AFFORDABLE and STABLE to live, be it rented or owned. And the rental market in the UK is in an outrageously poor state, with insane prices, massive shortages, poor quality of rental stock, exploitative buy-to-let landlords and short term, unstable tenancy agreements.

And that definitely IS something we need to fix.
 
dowie said:
I don't believe there is a 'crisis' just entitlement issues as a result of a period where home ownership % increased very rapidly before dropping a bit. Not everyone gets to own a property and that isn't necessarily something we need to 'fix'.
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Well nobody needs to own their own home. But there are problems in this country with rental, that aren't problems in other countries.

1. No security. We don't have assured long-term leases, and landlords can give even long-term tennants as little as two weeks notice in certain situations. Or 30 days notice in any situation.

2. Uncapped rents. With a lot of rents being higher than the cost of a mortgage there really is no argument that sections of society are being exploited, for the betterment of people already better off than they are.

3. Poor conditions. With MPs reluctant even to pass a bill that houses should be "fit for human habitation". In fact MPs voted against such a bill recently. Over-crowding, damp, mould, cold, etc, etc... properties are routinely rented out to people who have no choice. 1/6 of the private rental accommodation found not to be fit for human habitation. One in six!


If home ownership isn't the future for the UK, then we need less private rented and more social housing stock. Private rented, as with many things were profits are the sole motivation, have become a race to the bottom.
 
FoxEye said:
Well nobody needs to own their own home. But there are problems in this country with rental, that aren't problems in other countries.

1. No security. We don't have assured long-term leases, and landlords can give even long-term tennants as little as two weeks notice in certain situations. Or 30 days notice in any situation.

2. Uncapped rents. With a lot of rents being higher than the cost of a mortgage there really is no argument that sections of society are being exploited, for the betterment of people already better off than they are.

3. Poor conditions. With MPs reluctant even to pass a bill that houses should be "fit for human habitation". In fact MPs voted against such a bill recently. Over-crowding, damp, mould, cold, etc, etc... properties are routinely rented out to people who have no choice. 1/6 of the private rental accommodation found not to be fit for human habitation. One in six!


If home ownership isn't the future for the UK, then we need less private rented and more social housing stock. Private rented, as with many things were profits are the sole motivation, have become a race to the bottom.
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I completely agree with security in the rental market, I rented for a number of years and although ALL of my landlords were either good or great I still felt an element of vulnerability and the consequent lack of attachment to the area of the property.

I want MY tenants to feel an attachment to my house, and see it as their home. Aside from morality of providing a good and decent home for someone, its makes sound business sense as far as I am concerned. I want them to look after my investment.

In respect of rental prices unfortunately this is a direct contigent of the housing market bubble (I say bubble, but it hasnt ever really ever popped!). Huge house prices drive huge mortgages and huge commitments off a number of landlords which is ultimately passed on to the tenant. Even those landlords with small or non existant mortgages still maintain their rent in line with everyone else. If the guy up the road is charging £1000 a month and acquiring tenants without void periods, why should another landlord with a similar property significantly reduce his?

An unfortunate, inevitable and inconvenient reality.
 
Rifte said:
I want MY tenants to feel an attachment to my house, and see it as their home. Aside from morality of providing a good and decent home for someone, its makes sound business sense as far as I am concerned. I want them to look after my investment.
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The problem is, no matter how good your intentions, there are still potential issues outside your control, what happens if you die in a car accident tomorrow? Are the beneficiaries of your estate going to keep those tenants on, or are they going to sell the property and your tenants lose their home through no fault of their own and with nothing they can do about it?
 
dowie said:
I don't believe there is a 'crisis' just entitlement issues as a result of a period where home ownership % increased very rapidly before dropping a bit. Not everyone gets to own a property and that isn't necessarily something we need to 'fix'.
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I see the current situation very differently, more akin to the electric company scam, where those on pay meters were paying more for their electricity despite usually being the poorest of the population.

The poor are being bled dry by the rich as regarding home buying, but especially as regards rent prices for the standard of housing they are getting, Robin Hood in reverse.
 
Haggisman said:
The problem is, no matter how good your intentions, there are still potential issues outside your control, what happens if you die in a car accident tomorrow? Are the beneficiaries of your estate going to keep those tenants on, or are they going to sell the property and your tenants lose their home through no fault of their own and with nothing they can do about it?
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Completely true, but how do you prevent that unless you only allow corporations etc to involve themselves in the private rental market?

I suppose legislation could look at having a minimum tenancy period that transfers with the estate upon death/sale etc. Would that work for everyone though?When I was renting I would have shuddered at the thought of signing anything more than a 12 to 18 months assured shorthold tenancy agreement, I liked the flexibility I had to relocate.

If we start talking about the tenants having the ability to end tenancy agreements early after a certain period (i.e 5 year agreement with the right to bring notice after 12 months or so) it starts to load the weight to much in favour of the tenants IMO. There needs to be a balance between accepting that tenants need to feel safe and secure whilst appreciating the fact that landlords have financial commitments to keep this home on the go.

I know zero about how this is controlled on the continent (a lot of posters on here talk about its virtues), so maybe there is a much better solution?
 
Rifte said:
I know zero about how this is controlled on the continent (a lot of posters on here talk about its virtues), so maybe there is a much better solution?
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In most countries in the continent things are much more protected. In Germany, for example, you have a three month notice period on rental and the Landlord cannot simply ask you to move out they have to have a good reason - sale of property, want to return to live in the property, etc. Rents are also controlled while you live in the property and you have better rights protecting your use of the property.
 
If you want a house you will make sacrifices.

I was brought up in an area where house prices are >£500k. Including most flats. Vast majority of my friends were within a 15 minute walk.

Instead of moaning how expensive it is I moved 15 minutes down the road and now own a 3 bed semi.

Do I still see my mates? Most weekends.
 
Rifte said:
Completely true, but how do you prevent that unless you only allow corporations etc to involve themselves in the private rental market?

I suppose legislation could look at having a minimum tenancy period that transfers with the estate upon death/sale etc. Would that work for everyone though?When I was renting I would have shuddered at the thought of signing anything more than a 12 to 18 months assured shorthold tenancy agreement, I liked the flexibility I had to relocate.

If we start talking about the tenants having the ability to end tenancy agreements early after a certain period (i.e 5 year agreement with the right to bring notice after 12 months or so) it starts to load the weight to much in favour of the tenants IMO. There needs to be a balance between accepting that tenants need to feel safe and secure whilst appreciating the fact that landlords have financial commitments to keep this home on the go.

I know zero about how this is controlled on the continent (a lot of posters on here talk about its virtues), so maybe there is a much better solution?
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Well many of us think that rights *should* be loaded in favour of the tennants.

Because ultimately we want housing to be seen as an essential requirement for living, not as an investment vehicle or "asset" to be used to make money.

The more rights tennants have, teh more the current siutation will improve, and less scrupulous "investors" can be encouraged to leave the market. Not saying you're one of them, btw.
 
balky12 said:
If you want a house you will make sacrifices.

I was brought up in an area where house prices are >£500k. Including most flats. Vast majority of my friends were within a 15 minute walk.

Instead of moaning how expensive it is I moved 15 minutes down the road and now own a 3 bed semi.

Do I still see my mates? Most weekends.
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Unfortunately most people aren't screwed by lack of trying but by businesses refusing to give the option. I'm lucky my company will payout any overtime I do within reason but friends are struggling to raise money because businesses are putting a stop to overtime due the financial climate, so they are getting squeezed from the bottom without being able to increase wages.

The government needs to reduce taxes on second jobs I feel.

But I'm currently averaging 70 hour weeks, when I'm working from home. The problem is tax takes a mighty cut from it every month. If I wasn't a paye and self employed I could earn a lot more and keep more of my money.

Shame really, but looking at 2-3months more then I'll hit the magical £20k mark which would be the 10% needed for the maximum amount I can lend by myself.
 
FoxEye said:
Well many of us think that rights *should* be loaded in favour of the tennants.

Because ultimately we want housing to be seen as an essential requirement for living, not as an investment vehicle or "asset" to be used to make money.
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Absolutely this. Ultimately the landlord has a choice to let out their property, and if they don't agree with the terms then there's nothing forcing them to do so. Tenants on the other hand need somewhere to live.

So if legislation is brought in to force landlords to give longer tenancy periods/capped rent increases/compulsory renovation, whilst allowing the tenant to terminate on e.g. a 6 monthly period, then I'd have no problem with that - don't like it? Don't be a landlord
 
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Move anywhere with 30-50 miles or more round near me and the prices don't change on average.

Take a guess at the price on this.
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3 bed small terrace ex council house, on a not particularly nice estate being it used to be a huge council estate. Average amenties all round the area.
Guess.
 
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