Soldato
You should spend more time reading instead of spouting communist propaganda
You should spend more time reading instead of spouting communist propaganda
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Soldato
Pretty much - people making money or having some form of money is the number one enemy of those in SC.
Caporegime
Says the man equating wanting a better society to communism... are you secretly American?
Caporegime
You're making the mistake of thinking that people with money don't think the system is **** as well. I have a nice house we live in, we have an even nicer house we rent out and both of us earn good money. Doesn't mean I don't think this country is currently a mess.
Soldato
I'm not bitter: I've owned my own home since I was 24, I'm just not denying the reality of the consequences of landlording
Soldato
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1 property
25k left on mortgage (we can pay it off if interest rates go up much more)
mortgage payments are in region of £350 a month
rent is £650 per month (which means nothing without context.... but its a large 1 bed flat within walking distance of Cambridge city centre - and yes its massively under charged)
that £300 a month profit goes fully into an account where it covers the maintenance of the property, any repairs as well as the tax we get charged.
over all it just about covers itsself so we dont make on it, but we do get our mortgage paid off....... am i meant to feel guilty for that? if so........... I dont!.
Soldato
Yes
Caporegime
You care so little that you are massively emotive about this topic and very dismissive of anyone else with a slightly different view to you.
Loads of people work really hard. There is some weird idea around what people put in and what people get out being a tightly coupled equation.
I have no issue with people working hard for what they have. I think that people deserve to be rewarded for it. The issue is that so many people are not.
As to being a "jealous bitter (I assume a lovely word here)", I have 2 houses, a good job, my partner has a good job and last year I paid more tax than you made on all your property sales. I'm doing OK thanks
Associate
Slightly different view? I was, not personally because at first no one knew I was a LLYou care so little that you are massively emotive about this topic and very dismissive of anyone else with a slightly different view to you.
Loads of people work really hard. There is some weird idea around what people put in and what people get out being a tightly coupled equation.
I have no issue with people working hard for what they have. I think that people deserve to be rewarded for it. The issue is that so many people are not.
As to being a "jealous bitter (I assume a lovely word here)", I have 2 houses, a good job, my partner has a good job and last year I paid more tax than you made on all your property sales. I'm doing OK thanks
It was not a slightly different view was it.
I was attacked personally as scum because I am a LL, thats not a slightly different view.
Given there are currently 257,331 long term empty homes in the UK - no I don't think it's anything to do with population increase. It's also not anything to do with a "shortage of land" in the UK which is a total fallacy as well.
Elon Musk, Bill Gates et al have actually contributed something to society. Sticking some money in an "investment" when it was cheap, thus removing availability from the market, making the market situation worse, and charging would-be buyers for the privilege is hardly the same. You can't complain people are bitter, then gloat about being there at the right time when money was being given away.
Assuming you've rented it out since you bought it - how much was your deposit, the price you paid and the current selling price?
Oh, even if you don't rent you're still putting your hard-earned tax into their pockets; https://www.theguardian.com/society...-taxpayers-national-housing-federation-report Let's all prop up. a broken market, make a select few lucky ones rich just because...
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Soldato
As much as I want to urinate in the face of some of the people posting here due to their responses, I’ll try to keep this as reasonable as I can.
Some of the biggest issues with renting is that often the monthly mortgage cost is less than the monthly rent cost for the exact same house. The problem is that due to being either being priced out the market due to dwindling FTB properties then pushing FTB prices upwards or people being unable to save for a deposit while paying rent as well.
I use myself as an example. Working class background, no inheritance coming my way or family assistance, I work fulltime, earn a bit under the "average wage" of £33k. I rent, in a bit of an iffy area in a bit of an iffy house. I'm saving for a deposit but the amount i need to save goes up every year as house prices go up and housing stock is hoovered up by landlords and no new housing stock is built in any great number. I’m therefore fighting an uphill battle already. My rent covers my landlady’s stupid cheap mortgage + profit and it's cheapish for the area but in m,y opinion its only really due to the fact that I’m a stable tenant and if anyone else moved in they would want work doing on the house which would mean increasing the rent and costs plus the risk of an unstable tenant. She isn't renting it to me for cheaper than market rate out of the goodness of her heart, she’s renting it out because i dont complain when I probably should and she’s still making money off me while I pay for her asset. If I complained about things and demanded work doing, she would jack the rent up which would then mean it effects the money I can put aside for a deposit plus I’m spunking away more money a month on rent. It's therefore NOT in my interest to upset the applecart.
I could get a mortgage on similar properties to the one I’m in and it would be cheaper than my rent, the issue is the never-ending deposit chasing. The sole issue for me not getting a mortgage is down to the deposit requirement which keeps ballooning each year and then the prices being systematically pushed up by BTL landlords and a lack of new housing stock.
To all those virtue signalling about not charging market rates or increasing rents. That’s just cope to make you feel good. Simple fact is you have someone else paying for your property which is a property that could be enriching someone elses life and elevating them in their social and economic outlook but instead they are spunking money away for no financial or economic gain for themselves.
Landlording is simply a means to profit from others while standing on the shoulders of others. It takes from society without giving anything meaningful back. It continues and in some cases, worsens, the class divide we have in the UK. No-one will ever build enough houses to meet the FTB market demand because its too profitable not to build them and it would tank the housing market if the supply increases.
Finally, am I against people making money and profiting in a capitalist society, of course not. However, I am against it for something as basic and as necessary as housing.
In response to people that will undoubtedly post “ahh your being envious or jealous” I would just say…. your response denotes the kind of person you are even if you are “charging lower than the market rate” to your tenant because you are so “kind, caring, gracious and charitable”. If anything im frustrated and angry at the state of the housing market and i dont care if you personally have 1 or 15 properties
Some of the biggest issues with renting is that often the monthly mortgage cost is less than the monthly rent cost for the exact same house. The problem is that due to being either being priced out the market due to dwindling FTB properties then pushing FTB prices upwards or people being unable to save for a deposit while paying rent as well.
I use myself as an example. Working class background, no inheritance coming my way or family assistance, I work fulltime, earn a bit under the "average wage" of £33k. I rent, in a bit of an iffy area in a bit of an iffy house. I'm saving for a deposit but the amount i need to save goes up every year as house prices go up and housing stock is hoovered up by landlords and no new housing stock is built in any great number. I’m therefore fighting an uphill battle already. My rent covers my landlady’s stupid cheap mortgage + profit and it's cheapish for the area but in m,y opinion its only really due to the fact that I’m a stable tenant and if anyone else moved in they would want work doing on the house which would mean increasing the rent and costs plus the risk of an unstable tenant. She isn't renting it to me for cheaper than market rate out of the goodness of her heart, she’s renting it out because i dont complain when I probably should and she’s still making money off me while I pay for her asset. If I complained about things and demanded work doing, she would jack the rent up which would then mean it effects the money I can put aside for a deposit plus I’m spunking away more money a month on rent. It's therefore NOT in my interest to upset the applecart.
I could get a mortgage on similar properties to the one I’m in and it would be cheaper than my rent, the issue is the never-ending deposit chasing. The sole issue for me not getting a mortgage is down to the deposit requirement which keeps ballooning each year and then the prices being systematically pushed up by BTL landlords and a lack of new housing stock.
To all those virtue signalling about not charging market rates or increasing rents. That’s just cope to make you feel good. Simple fact is you have someone else paying for your property which is a property that could be enriching someone elses life and elevating them in their social and economic outlook but instead they are spunking money away for no financial or economic gain for themselves.
Landlording is simply a means to profit from others while standing on the shoulders of others. It takes from society without giving anything meaningful back. It continues and in some cases, worsens, the class divide we have in the UK. No-one will ever build enough houses to meet the FTB market demand because its too profitable not to build them and it would tank the housing market if the supply increases.
Finally, am I against people making money and profiting in a capitalist society, of course not. However, I am against it for something as basic and as necessary as housing.
In response to people that will undoubtedly post “ahh your being envious or jealous” I would just say…. your response denotes the kind of person you are even if you are “charging lower than the market rate” to your tenant because you are so “kind, caring, gracious and charitable”. If anything im frustrated and angry at the state of the housing market and i dont care if you personally have 1 or 15 properties
Soldato
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Indeed I have no issue with different view points... however the moment people start throwing things like immoral ****s around then things are likely to get spicy 
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things are likely to get spicy
Hot Hot Hot.
Soldato
- Joined
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why would you assume that? you know what they say about assume!. (my wife lived in it before i met her and we moved into my place together)
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Caporegime
You won't please all the people all the time. Most reasonable people understand that there is a wide spectrum of landlords from the good to the bad to the ugly. If you are one of the good ones then I wouldn't worry about what people are saying on an anonymous forum.
There is a need for landlords and there always will be. The issue is that the housing market and its growth in value and lack of increase in size to serve the demand has led to a situation where its very lucrative for bad landlords to profit massively. We have incentivised people with available capital to hoover up homes and then push the job of repaying those home and pay a salary to the landlords.
I personally really feel for the younger generation who are paying insane rents and have little hope of being able to buy in their 20s/30s if ever due to greed.
Its not a case of all landlords being scum... but some are. Same as tenants.
Caporegime
This is the fundamental issue. Its a broken system where the amount you are saving is being killed by the amount a house is going up in value. The only reason it hasn't completely broken is because a deposit is only a fraction of the house price. i.e. You need a 10% deposit on a £500k house and its value goes to £550k you only need to find £5k to hit that 10%.
It will continue as long as people will suffer it. I don't know how much higher house prices can go but I thought they couldn't go any higher 10 years ago. And 15 years ago...