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Coincidentally, we finally got around to watching "The Big Short" last night.
In Manchester there is no shortage of terrace houses for sub £100k, yet many prefer to live in a flat on the edge of town for £150k+ and half the size.
Of the two, I'd probably choose the terrace as well - but a new build flat will come with a guarantee of a few years, no asbestos or lead, no copper pipes waiting to pinhole leak, no gardens (which some people don't like!), no leaky roofs (or at least someone else handles it at communal expense), more security (if you have a good front door) etc. I understand why someone want that instead of terraces that need maintenance and dirty hands.
We need to build more social housing I guess.
This would keep private landlord rents honest too currently there's no market forces to keep costs under control.
**** me indeed. I'd like a 1 bed flat. I had to move back to my dad's when I split with my ex. I earn just above minimum wage. To buy in my area would cost upwards of £180k! To rent would be 90% of my take home after paying child maintenance. The fact that housing in the UK is looked at as an investment rather than a necessity is ridiculous
This would keep private landlord rents honest too currently there’s no market forces to keep costs under control.
Just to point out - higher the value of the house, higher the rent. It's an interlink that's hard to disrupt.
The biggest thing is not to (again) brand landlords as 'bad', but to look overall at the culture and systems that are ever pushing house prices higher.
This would keep private landlord rents honest too currently there’s no market forces to keep costs under control.
In what way are landlords being dishonest?
currently there’s no market forces to keep costs under control.
What do you think is driving the costs. ?
Up here prices have been down due to downturn and lots of people moving away.
Things are picking up so rents are on the up.
Supply and demand is the market force. Not an alternative cheaper supply / rent control.
Just to point out – higher the value of the house, higher the rent. It’s an interlink that’s hard to disrupt.
I'd disagree. Whilst high rents can drive higher house prices, the opposite isnt true. More expensive houses do not command a rent that is proportional to their value in the same way that cheaper houses do, as there are relatively few people willing to bin £4k a month on rent
Give them a stupid counter-offer. Tell them you love it where you are, you don’t want to move, but you’d consider it for £600k or whatever it’d take to make it worthwhile for you to actually go through all that rigmarole. You’ll find out pretty quickly how much they “really” want it.
The wife and I sat down and had a serious chat about it. Neither of us wants to move, so defo not going to go any further.
I was vetoed from trying the above suggestion for shits and giggles 😆 I think she was worried that they'd say ok, and we'd then have to engage.