2050 is going to be a seriously fucked time to live in on our current trajectory
SpaceNuggetImpact on
This means? People were complaining about landlords a lot, so is this good or bad news ?
Other_Nothing2436 on
I have a flat that I was considering to rent out while I move back to London, but not only would pay a huge amount of income tax, but also capital gains tax on my flat when I sell it because it would have been rented during my ownership. Ultimately, it seems like the most sensible decision is to leave it vacant while I rent in London until I am ready to sell and buy somewhere else
Healthy-Drink421 on
Well who were buying the houses they were selling? First time buyers… Which is good.
There is a shortage of rental housing though. More, particularly flats, and social flats should be built. But so many of the small time landlords were unprofessional contributing the housing quality crisis.
magneticpyramid on
This is exactly what people (on Reddit) have been calling for.
jsusbidud on
Serco are hoovering them up for asylum HMOs. Just lease it to them. Five years all bills paid. 250 new tenants arrived today alone.
Standard_Response_43 on
Smart move….easy £££ gone
Get a good and trusted financial advisor, even UK gilts/us t bills give U nearly 5% with no risk
TwoThreeZero on
Hmm maybe just maybe this would be a good time to stop private bodies, specifically REITS from buying up swathes of housing
LJ-696 on
We can only hope those homes go to actually people and not large corps
dcrm on
There’s not much profit in owning to rent compared to other avenues of investment. Of course this was going to happen, isn’t this what people wanted?
Bojack35 on
The state outsourced social housing to landlords decades ago.
If they can meet housebuilding targets alongside the policies pushing landlords out then great.
If not the rental market could get wild.
-MonitorMan- on
Labour are probably going to be screwed if they don’t fix the rental sector. Renters fled to Labour after being screwed by the Conservatives so will make up a high proportion of the Labour voting base. If the rent crisis doesn’t get noticeably better by the next election a good chunk of those Labour voters might not turn out.
If immigration and asylum seeker numbers don’t come down to net 100k max then some disillusioned renters may try their luck with Reform. Even though that doesn’t make much sense to many. At this point they won’t have much to lose.
OldGuto on
Don’t be so quick to cheer r/uk unless we build a lot more social housing this could be a big problem.
One/two bed flats going up for sale probably isn’t too big a deal, if it’s HMOs and those houses are bought by families those HMO tenants are looking for somewhere to live in a market that has one less HMO.
WinHour4300 on
Most will have made a large profit and will get a similar but easier yield on safe investments whilst paying a relatively low capital gains tax.
We don’t know the demographics but probably a fair few are over 50s and may no longer want money tied up in property.
Also, as if you’ve lived in the property and the price flat lines it doesn’t make sense to hold on to it as the amount of CGT you pay increases.
Dependent_Phone_8941 on
People like to view Landlords as the problem.
Landlords are a symptom of a problem. The problem is created by the government and that creates the opportunity for landlords.
A bit like if you have a cough you know you are ill, landlords are the cough, not the illness.
If the government didn’t artificially restrict the housing supply for literally decades while also selling off the social houses, landlords wouldn’t be common at all.
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2050 is going to be a seriously fucked time to live in on our current trajectory
This means? People were complaining about landlords a lot, so is this good or bad news ?
I have a flat that I was considering to rent out while I move back to London, but not only would pay a huge amount of income tax, but also capital gains tax on my flat when I sell it because it would have been rented during my ownership. Ultimately, it seems like the most sensible decision is to leave it vacant while I rent in London until I am ready to sell and buy somewhere else
Well who were buying the houses they were selling? First time buyers… Which is good.
There is a shortage of rental housing though. More, particularly flats, and social flats should be built. But so many of the small time landlords were unprofessional contributing the housing quality crisis.
This is exactly what people (on Reddit) have been calling for.
Serco are hoovering them up for asylum HMOs. Just lease it to them. Five years all bills paid. 250 new tenants arrived today alone.
Smart move….easy £££ gone
Get a good and trusted financial advisor, even UK gilts/us t bills give U nearly 5% with no risk
Hmm maybe just maybe this would be a good time to stop private bodies, specifically REITS from buying up swathes of housing
We can only hope those homes go to actually people and not large corps
There’s not much profit in owning to rent compared to other avenues of investment. Of course this was going to happen, isn’t this what people wanted?
The state outsourced social housing to landlords decades ago.
If they can meet housebuilding targets alongside the policies pushing landlords out then great.
If not the rental market could get wild.
Labour are probably going to be screwed if they don’t fix the rental sector. Renters fled to Labour after being screwed by the Conservatives so will make up a high proportion of the Labour voting base. If the rent crisis doesn’t get noticeably better by the next election a good chunk of those Labour voters might not turn out.
If immigration and asylum seeker numbers don’t come down to net 100k max then some disillusioned renters may try their luck with Reform. Even though that doesn’t make much sense to many. At this point they won’t have much to lose.
Don’t be so quick to cheer r/uk unless we build a lot more social housing this could be a big problem.
One/two bed flats going up for sale probably isn’t too big a deal, if it’s HMOs and those houses are bought by families those HMO tenants are looking for somewhere to live in a market that has one less HMO.
Most will have made a large profit and will get a similar but easier yield on safe investments whilst paying a relatively low capital gains tax.
We don’t know the demographics but probably a fair few are over 50s and may no longer want money tied up in property.
Also, as if you’ve lived in the property and the price flat lines it doesn’t make sense to hold on to it as the amount of CGT you pay increases.
People like to view Landlords as the problem.
Landlords are a symptom of a problem. The problem is created by the government and that creates the opportunity for landlords.
A bit like if you have a cough you know you are ill, landlords are the cough, not the illness.
If the government didn’t artificially restrict the housing supply for literally decades while also selling off the social houses, landlords wouldn’t be common at all.