Really? So the government would have just as much stamp duty coming in? Please explain that to me.
No idea on your other point.
Getting into buy to let property business
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Really? So the government would have just as much stamp duty coming in? Please explain that to me.
No idea on your other point.
Soldato
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There'd have to get their income from somewhere else then. Besides how much of this money they get from stamp duty just going to pay for social housing making that people may not need if houses were more affordable in the first place?
And taking your logic, we might as well say that if clothing became 10 times more expensive as it now and became prohibitive for large parts of the population it would be a good thing because the government would be taking in more through VAT.
IMO, housing, like food, heating and clothing are basic human rights and when any of those things become so expensive the majority of the citizens can't afford them it's time to do something about it.
Yeah, no ****. So, higher taxes then?
What kind of house is a basic human right? 2 bedrooms? 4? Garden? Conservatory?
Soldato
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Capitalism, isnt it just so unfair?Lets all have a big whinge as that is how you get ahead in life.
I have no problem with capitalism, you're not trying that American technique of implying anyone who has a gripe with house prices is a communist are you?
We've had capitalism 30 years ago though and houses were affordable then so what's changed?
Capitalism, isnt it just so unfair?
Capitalism has never been unfettered, that's why you have various bodies set up to prevent monopolies, price fixing and so forth. The only people who defend the state of the UK housing market (and it's much more complex than just buy-to-letting) are naturally those who benefit from it. But really, secretly, you can't fail to think that every time you purchase a new property to rent out, that there's someone, perhaps a hard-working new family who's losing out so that you can earn money at their expense. Capitalism isn't meant to work like that.
I'd like to hear any buy-to-let landlord state that no one who would prefer to buy a property and not chuck their hard-earned cash into someone else's pocket ever loses out by this. Unfortunately it's not something that can be stated honestly, so it just boils down to "I don't care about other people, I'm having their money off them".
Soldato
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Why ignore the other point about a lot of that extra stamp duty just going to pay for social housing that may otherwise not be needed?
Clearly I've confused you into thinking I support some form of communism here.
Let me re-phrase. It should be a basic human right that you can buy a reasonable house for your wage.
you might want to ask them what the interest rates were like throughout that 19 yr period.
wha?
Whaaat? its not a landlords fault that someone wants to rent their property, the landlord might have built his empire from nothing, just the way anybody else could have
The problem in my eyes is that B2L landlords tend to swarm the lower price range for housing eg the housing that would best suite first time buyers where they can pay a reasonable price and spend time and money doing the property up and them pro landlgress up the property ladder. But instead a lot of B2L landlords buy these cheaper houses spend nothing on them and take up housing stock needed for first time buyers.
i look like i'm singling you out here by quoting you 3 times in a row and i'm not intending to have a go but your idea's on this subject are out of touch.
a house isn't a right (though there is the argument for some people, young mothers, asylum seekers etc who have been housed in houses most people could only dream off, though these are exceptions) who seem to counteract this point.
you can afford a house, you have to sacrifice. this means saving from the moment you get your first paper round, continuing this trend and saving more and more. that's the only way you will do it, unless you are lucky enough to be able to go to the ''bank of mum and dad'' or come into some inheritance.
there is also the option of getting a mortgage with a partner or friend. if most people looked back at what they have wasted their money on during their teens/twenties, they would probably realise that if they'd have saved, they'd probably have enough for a deposit by 30. i am guilty of this too, if i'd have saved more, i could've put down a lot more on a deposit but things and needs change, in my 20's, i wanted to mod cars, travel and party and i'm glad i did but the fact still remains.
i believe the average age for someone buying their own house in now over 35. this is a sign of the times, some houses are overpriced but it's a sign of the times. supply and demand.
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Soldato
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You're missing his point, the question is do they actually WANT to rent that property or is renting their only option. People buying up properties to rent out only exacerbates that problem.
I would suspect very few landlords have built their 'empire' from nothing. I'd guess in most cases it is inherited or bought with other wealth that may have been built from nothing (but not property).
horrible, horrible people making good for themselves? atleast it's legal!
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How old are you out of interest?
I think it's the sign of the time that we're talking about ...
Soldato
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No problem with people making good for themselves, until it comes at the expense of other people/rest of society.
Bill Gates earning a ton of money is cool with me, he's employing people and providing a product people like/need to use.
A landlord who buys up all the property in his area leaving first time buyers with nothing left isn't really the same.
Again, I'm not a communist or even socialist and housing is one of the only areas I'd support some form of restrictions in what you can and can't do because, call me Che Gevera here but, I tend to think it's more important to have a society where housing is affordable for all then one where a select few can feather their pension pots whilst watching everyone else around them struggle and paying them rent.
I know what you mean, but these people, me being one of them, for instance i saved heavy for 10 years 17-27, and this allowed me to buy a house, i suffered by being skint for all that time so i would say it only fair that i should at some point be able to profit from my investment?
Soldato
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Case in point, I don't want to rent. I don't know many people who do want to rent when mortgage repayments cost the same if not less. I can't afford to buy because rental is too expensive so i'm not saving much, plus all the work I'll ever get in the UK is in London so prices are higher here anyway, plus mortgage lenders hate self employed people even with good books like mine. Even with a full time job I think I'd struggle to afford a mortgage alone on a£25k wage for a two bed house in Surrey/Kent.
I don't have a problem with people making money for themselves in general but there desperately needs to be some help for first time buyers. "A sign of the times" is not an argument.
32. bought my first house at 29.
it's not a case of it being an argument, it's the way it is and there is no way around it. when i was at school, i sure as heck didn't see me still living at home until i was 29. i didn't want to rent though as (imo) it wasn't the best use of my money as i wanted a mortgage.
as i've said a few posts before, yes, house prices have risen but interest rates are different. the rates through the 80's and 90's were ridiculous at times.