Wednesday, Oct 29, 2008
What about defaulting landlords?
MyFinances: Buy-to-let landlords warned of defaulting tenants
Landlords are being warned the coming recession will bring higher numbers of tenants falling behind on their rent. Unemployment is set to rise in the coming year as the economy contracts, and landlords are being urged to protect themselves.
Posted by whostolemyendowment @ 04:34 PM (592 views) Add Comment
3 Comments
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1. mark wadsworth said...
Cool. That will put downward pressure on rents.
2. stillthinking said...
Well, you would hope so. As I mentioned before, and feel free to make a political issue of this Mark, I have been a keen supporter of yours, there is such a thing as the "rebound tax" (my chosen name), where the money you pay in tax indirectly increases the costs against your disposable income. Essentially a stealth tax. This kicks in when the lack of social housing causes local authorities to spill into the private rental sector en masse, thereby increasing rental costs.
We might, in the end, be bidding against ourselves for rental accomodation.
3. last_days_of_disco said...
@stillthinking
I would be surprised if the state can respond quickly enough.