The Worlds gone bonkers

[daboarder]

I lost it at the unbaking a cake part

[Psychosplodge]

Let's face it. I'm not effectively shut out the housing market because someone moved to my country. I'm locked out because there's a bunch of greedy sods sat up the top of the pile wanting to keep things in the status quo - Limited supply, driving up the price, whilst they rent, rent, rent to all and sundry, making even more money.

But if we have a net gain of 200k a year then that is an unnecessary pressure on the strained housing market.
And if at the same time they're working at the low end of the market then they're possibly in receipt of housing benefit. or if out of work adding to those in receipt of housing benefit.
And the buy to let boom especially in the south is fuelled by filling houses with people on housing benefit at ridiculous rents.
So essentially you're subsidising locking yourself out of the housing market.

[Mr Mystery]

But if we have a net gain of 200k a year then that is an unnecessary pressure on the strained housing market.
And if at the same time they're working at the low end of the market then they're possibly in receipt of housing benefit. or if out of work adding to those in receipt of housing benefit.
And the buy to let boom especially in the south is fuelled by filling houses with people on housing benefit at ridiculous rents.
So essentially you're subsidising locking yourself out of the housing market.

It's that or go homeless. Again. Not much fun that.

[Psychosplodge]

I meant by paying the taxes that pay the benefits that pay the rents for the buy to let landlords, but yeah catch22 for you...

[Mr Mystery]

And all because a smart move to get the wider populace involved in the housing market was marred by the gross stupidity of not replenishing stock with the gained money, despite that such a decision would have spurred the economy on somewhat.

I do wonder what those funds eventually got spent on.

[Psychosplodge]

That certainly contributed to it, combined with Gordon "look at the house prices the economy is fine" Brown...

[Mr Mystery]

Wasn't just Mr Brown. It's been decades of it. All about your house price yadda blah blah.

Not to mention utter, utter idiots who know the housing market is massively inflated, but still buy into the 'own or you're scum' nonsense peddled by the likes of the Daily Fail.

I'm nearly at the point where I could actually get a mortgage on a small one bedroom flat (which is fine, that's all I need), but it's ridiculous that you need a better-than-average-paying job to just achieve that. Utter insanity.

Another thing that annoys? People banging on about their negative equity. Dude. It's only a problem if you try to move house!

[Psychosplodge]

Yep, they were happy paying it before. If they can afford to keep paying it, it's less than renting and they don't want to move whats the problem?

[Mr Mystery]

Because portfolio, probably.

And I doubt we'll see a new tax on landlords. Too many party donors of all stripes are involved in that market for such a thing to fly


Still. Quite interested to see what happens when the post-war generation start dying off. 100% not wishing it on anyone, but it's them that owns it all, and it's gonna get passed to their offspring. Could cause a total market collapse, or could just maintain the status quo.

[Psychosplodge]

it depends on amounts, values and how they're set up. Inheritance tax (which I disagree with) should see some reach the market, or where several family members want their cut, but others not so much.