The joy of being a landlord

[a1ex2001]

Not if it affects my house price boyo. I joined this ponzi scheme at the bottom and I sure as hell ain't letting someone else get on for less work than I put in.

lol we are not realistically going to build enough houses to significantly reduce prices, what we could do is halt/reduce the rate of increase so over time housing becomes more affordable. I find it utterly baffling that my first house more than doubled in price in the 18 years we owned it (we did a lot of work on it but even if we had done nothing it would have nearly doubled)

 

[dlockers]

lol we are not realistically going to build enough houses to significantly reduce prices, what we could do is halt/reduce the rate of increase so over time housing becomes more affordable. I find it utterly baffling that my first house more than doubled in price in the 18 years we owned it (we did a lot of work on it but even if we had done nothing it would have nearly doubled)

If you bought your first house 18 years ago then you need to find your character on dowie's AI artwork, tbh.

 

[dowie]

lol we are not realistically going to build enough houses to significantly reduce prices, what we could do is halt/reduce the rate of increase so over time housing becomes more affordable

The interest rate isn't government policy anymore but down to the BOE, lowering interest rates doesn't in itself necessarily make housing any more affordable rather it makes borrowing more affordable - if you've still got the same people all trying to compete for the same homes then lower rates/affordable borrowing will tend to just mean prices rise.

To make housing more affordable we need to increase supply and the big bottleneck on supply is the UK's planning system.

 

[a1ex2001]

The interest rate isn't government policy anymore but down to the BOE, lowering interest rates doesn't in itself necessarily make housing any more affordable rather it makes borrowing more affordable - if you've still got the same people all trying to compete for the same homes then lower rates/affordable borrowing will tend to just mean prices rise.

To make housing more affordable we need to increase supply and the big bottleneck on supply is the UK's planning system.

I don’t mention interest rates in my post so no idea what you are on about the BoE for!

I simply said we are incredibly unlikely to build enough new houses in the short term to force a significant house price drop what we could do is build enough to reduce or stop the rate of increase which would make housing more affordable over time.

Thanks for the pointless lecture pointing out exactly what I pointed out though always appreciated

 

[dowie]

I don’t mention interest rates in my post so no idea what you are on about the BoE for!

I simply said we are incredibly unlikely to build enough new houses in the short term to force a significant house price drop what we could do is build enough to reduce or stop the rate of increase which would make housing more affordable over time.

Thanks for the pointless lecture pointing out exactly what I pointed out though always appreciated

Oops, misread that, has been a long weekend.

 

[mattyprice4004]

There's still plenty of unawareness of how bad the housing issue has become, tropes about young people spending money on frivolous things etc. May well be partly true but it's insignificant in comparison to the general affordability (or lack of) of homes.

https://twitter.com/i/web/status/1765571304877408442

Of course, when it comes to increasing supply we've got the silly planning system to deal with and as part of that planning process, at the local level, we've got this lot (someone posted this AI image on twitter a while back) who, thanks to retirement, have plenty of time during the day to attend planning meetings and kick up a fuss meanwhile the people who are impacted by the lack of homes are at work.

I’ve had to navigate the planning process recently - what an absolute farce.

Needs a rather drastic overhaul

 

[chrcoluk]

I am curious if the new MDU tax changes will cause a similar catalyst of rent increases the same as the changes Osborne introduced, as usually a tax on a LL is a tax passed on to tenants. It feels like another short sighted change.

 

[andybird123]

I am curious if the new MDU tax changes will cause a similar catalyst of rent increases the same as the changes Osborne introduced, as usually a tax on a LL is a tax passed on to tenants. It feels like another short sighted change.

To be honest, taxes don't necessarily get passed directly on to tenants, but what the government have been doing is causing lots of LL's to sell off, which causes a lack of supply and then tenants get in to bidding wars with themselves which drives up prices. So anything that either causes LL's to sell, or stop buying will affect supply and therefore drive up rents.

 

[chrcoluk]

To be honest, taxes don't necessarily get passed directly on to tenants, but what the government have been doing is causing lots of LL's to sell off, which causes a lack of supply and then tenants get in to bidding wars with themselves which drives up prices. So anything that either causes LL's to sell, or stop buying will affect supply and therefore drive up rents.

Its both basically, such a strange policy, I feel it was announced to appease those who think that it will magically increase supply of houses to buy and that the rental crisis is some kind of moot issue.

 

[Freakbro]

I am curious if the new MDU tax changes will cause a similar catalyst of rent increases the same as the changes Osborne introduced, as usually a tax on a LL is a tax passed on to tenants. It feels like another short sighted change.

MDU? (my google-fu is failing me)

 

[ci_newman]

MDU? (my google-fu is failing me)

Multi-dwelling unit (e.g. apartment blocks)

 

[aVdub]

I'm guessing that should be HMO.

 

[andybird123]

MDU? (my google-fu is failing me)

As above, multi dwelling, e.g. buying a property that used to be a house which has been split up in to 2/3/4 separate flats.

People were apparently using it to split the total purchase price with say a large house with a granny flat and making part(s) of the purchase free from stamp duty. Plus it was something that benefited land lords so we all know that has to be stopped.

I'm guessing that should be HMO.

No it didn't apply to hmo's which were still a single residence where you rent individual rooms to different people so stamp duty applied as a single residence still.

 

[Richard - London]

To make housing more affordable we need to increase supply

Or reduce demand. Send home every non-citizen that doesn't work, and stop immigrants completely for 4-5 years while we work on a better system.

 

[Freakbro]

Or reduce demand. Send home every non-citizen that doesn't work, and stop immigrants completely for 4-5 years while we work on a better system.

Well, there goes our higher education system

 

[aVdub]

Or reduce demand. Send home every non-citizen that doesn't work, and stop immigrants completely for 4-5 years while we work on a better system.

Wouldn't it be more fun to shoot them first as a warning to not come back.

 

[Devilman]

Or reduce demand. Send home every non-citizen that doesn't work, and stop immigrants completely for 4-5 years while we work on a better system.

Chris Wilson, is that you?

 

[bazzabear]

Well, there goes our higher education system

You're not seeing the bigger picture. Yes, the entire country would grind to a halt. But at least Richard wouldn't have to see people who are the wrong colour.

 

[Richard - London]

Well, there goes our higher education system

Or just fund our system better and train more of our own?

 

[Richard - London]

Wouldn't it be more fun to shoot them first as a warning to not come back.

What? Why?