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Rents are crazy at the moment

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Original post by Muttly
we have no public money. We are bankrupt.

What information have you used to arrive at this conclusion?

Why haven’t we seen the capital outflow and rapid currency devaluation that precede a country defaulting on its sovereign debt? Why are the IMF and rating agencies apparently unaware of this situation?
Original post by Rakas21
Although I think your being overly harsh since I suspect you'll vote Labour and they advocated almost all of the horrid ideas, I do agree that buying into the anti landlord narrative has created a significant problem.

In 2017 I got a place at 285 bills Inc and there were a number of competitive properties. Not only did my higher rate earning landlord decide to sell up but comparable properties are now more than double.

It won't be dealt with until we have a second term PM with the authority and massive majority to force it through against the back benches.

Since Thatcher and Blair are the only applicable leaders, you see the problem. One was too early to feel the problem, the later was not a domestic risk taker (people pleaser). Neither Starmer nor Sunak seem likely to have the authority and majority to do it despite current polling for Starmer. Thus the best we can expect is piecemeal.

Hmm. Thatch was a revolutionary or a *****. Depends on the lens. My lens tells me that she saved the UK from oblivion. A very handy war didn't hurt.

An auto worker from Leeds would disagree. I can't blame dude. His life is seriously ****ed. He is seriously ****ed.

Thatch 's fault? Not a chance.

The UK produces the finest jet engines on the planet. Better than General Electric. The labor is expensive and is highly value added.

The UK can't stamp out a quality vehicle for a value price if their lives depended on it.
Original post by hotpud
I don't think that is fair. Boris could have done something about it, so could Cameron. But the truth is that all the Tories have been obsessed with these last 13 years is Brexit. Everything they have been about has been Brexit. And as predicted it has been a disaster. Meanwhile having taken their eye off the ball, our NHS is in crisis. Crime is up with shoplifting becoming an epidemic. Homelessness now lines every city street and I have noticed that the latest trend highlighting how bad poverty is in some parts is people begging at traffic lights. Education is freefall. Even the roads are worse now than at any other time. And the government overseeing this are just corrupt. Billion pound PPE contract made to Tory party donors which never materialised was just the tip of the iceberg. I note Grant Shapps is corrupt through the the bone yet has been rewarded as Defence Secretary.

I genuinely struggle to think of just one thing this government has done in the last 13 years that have made anything better for anyone who wasn't a multi-millionaire. Please feel free to highlight them. Just one.

But when I think of Labour (who I didn't vote for BTW) I can think - new schools, new hospitals, class sizes of 30 (do you know some schools have classes of 34+?), deregulation of the Bank of England, Equalities Act, Disabilities Act, homelessness on the street pretty much disappeared, free museums, libraries, swimming pools. All of this has been undone. Libraries and swimming pools are closing unless you are Richie S. It is just disgusting.

Bank dereg as described is a nothing burger. It's a pullback on artificial financial tests. Nothing to see here...
Reply 23
Original post by Muttly
Re your comments - very little to do with Brexit. If you really want to look at wasted money and uncontrolled borders look no further than Tony Blair and the dubious lawful Iraq war. Billions wasted trying to misguidedly convert Afghan's to UK progressive thinking. Labours spend spend spend, borrow borrow borrow and diddly to show for it. How many council houses could have been built with all of that wasted money? We are still paying for the spending excesses and someone somewhere has to grip this country's uncontrolled fruitless spending - we have no public money. We are bankrupt. We cannot keep this reckless borrowing going and feeding the sky high interest payments. Stop all of the frivolous spending on show boating politics and we might have some money to build some basic council houses (or have a UK wide building apprenticeship - build your own rental home!!)

Oh - I quite agree. But whilst he was wasting huge amount of resources on a folly of a war, he was at least also fixing the ills of the previous Tory administration at the same time. Sadly, most of that has been undone by the Tories so we are back to square one and no better off for it either...
unless you are a multi-millionaire Tory donor of course.
As a landlord I've had to put up rents on both my BTLs recently, and I agree that they're extremely high now. The monthly rent is higher than most people's monthly income. (Although having said that they are in Prime London locations).

Factors like stamp duty, taxes and increasingly hostile legislation against landlords do play a part in that, but the main reason for it is the high inflation, and in turn, the extremely high interest rates we're seeing at the moment. The monthly mortgage payments on them are now almost double what they were a couple of years ago, and it's a similar story with servicing and maintenance costs. So if I didn't increase rents I'd end up operating at a loss, which wouldn't be sustainable for long and would force me to sell at basically bargain prices (probably even less than the amount I've spent on them in the first place).

I feel like landlords often get demonised for just being "greedy" when increasing rents, when in reality there isn't usually much of a choice in the matter. It's either that, or not providing rental accommodation at all. The anti-landlord rules and taxes that keep coming in don't make the situation any better for tenant either; they just make it more expensive and more competitive to get a rental property. I get that what people really want is for houses to be more affordable to buy, but penalising landlords just for being landlords doesn't really help that. Ultimately the problem is down to the simple fact that our population is high, and properties are scarce. There's no getting round that other than by building more properties.
(edited 2 months ago)

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