And their transformation is complete. The Tories really have become New Labour. Blame anyone who tries to work hard and invest for their family. Lets all rely on the government for everything.
No mention of years of overly low interest rates, easy credit/mortgages, house prices not included in RPI figures, and allowing pension lump sum withdrawals (which have been invested on property) ??
BTL has not skewed the market Before 1997 only rich peopke could be LL as mortgages were based on income. With tha advent of the BTL mortgage based on rental cover poor people could become LL.
With RTB there was a decline in the availability of social housing. The demandwas stilm thefe and ever increasing as Labour opened the floodgates to mass uncontrolled immigration.
It was the PRS that stepped up to the task of housing all those who wanted to rent. Such BTL properties were purchased in a open market. If homebuyers didn't wish to buy the properties the LL were buying that is hardly thr LL fault!!! If all the aspirant homebuyers can achieve so from existing stock where will the booted out tenants go. There will be far fewer rental properties available and very few who currently rent could afford or want to afford where they are currently renting. The Tories have lost the plot! They know GR is going to give them a pounding the next GE. They are desperate to curry favoyr with rbis very small but vociferous groupbased mainly in London and the near SE
Margaret Thatcher's right to buy skewed the market and landlords are now getting the blame for being entrepreneurs.
ReplyDeleteAnd their transformation is complete. The Tories really have become New Labour. Blame anyone who tries to work hard and invest for their family. Lets all rely on the government for everything.
ReplyDeleteNo mention of years of overly low interest rates, easy credit/mortgages, house prices not included in RPI figures, and allowing pension lump sum withdrawals (which have been invested on property) ??
ReplyDeleteBTL has not skewed the market
ReplyDeleteBefore 1997 only rich peopke could be LL as mortgages were based on income.
With tha advent of the BTL mortgage based on rental cover poor people could become LL.
With RTB there was a decline in the availability of social housing.
The demandwas stilm thefe and ever increasing as Labour opened the floodgates to mass uncontrolled immigration.
It was the PRS that stepped up to the task of housing all those who wanted to rent.
Such BTL properties were purchased in a open market.
If homebuyers didn't wish to buy the properties the LL were buying that is hardly thr LL fault!!!
If all the aspirant homebuyers can achieve so from existing stock where will the booted out tenants go.
There will be far fewer rental properties available and very few who currently rent could afford or want to afford where they are currently renting.
The Tories have lost the plot!
They know GR is going to give them a pounding the next GE.
They are desperate to curry favoyr with rbis very small but vociferous groupbased mainly in London and the near SE