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New Rule And Way Of Thinking


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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

Can I propose a slightly different rule?

No household can borrow more than the lesser of 3.5x the highest income earner's documented income and 3x the household's documented income.

We need to get away from the mentality that everyone has the right to take on large leveraged bets on the direction of house prices, especially as the gains from being correct are individual while the costs of being wrong are societal.

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

That rule only works in the South. In the North/Scotland with a 20k deposit you could easily afford a 150K semi-detached house in a decent area with those earnings. You could buy Middlesbrough outright.

" i.e never having to worry about the boiler repair bill."

aye, instead you worry about when the landlord is going to fix the boiler as you freeze your **** off. His boiler will be working fine, thank you very much

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I would have gladly remained renting for ever, if not for the ridiculous 6 month tenancy "agreements".

If renters were offered some more security from feckless (often amateur btl) landlords, as in much of Europe, then it would be more far more attractive.

And dare I add, more of a win-win situation as opposed to the usual Baron-Serf setup this country is so well-known for.

(and btw - I did meet your somewhat strange criteria!)

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That rule only works in the South. In the North/Scotland with a 20k deposit you could easily afford a 150K semi-detached house in a decent area with those earnings. You could buy Middlesbrough outright.

" i.e never having to worry about the boiler repair bill."

aye, instead you worry about when the landlord is going to fix the boiler as you freeze your **** off. His boiler will be working fine, thank you very much

Know your rights.

If boiler is broken and landlord does not fix:

1) get 3 quotes to fix.

2) pick middle one.

3) Get fixed and reduce money from rent

You can do this legally.

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I would have gladly remained renting for ever, if not for the ridiculous 6 month tenancy "agreements".

If renters were offered some more security from feckless (often amateur btl) landlords, as in much of Europe, then it would be more far more attractive.

And dare I add, more of a win-win situation as opposed to the usual Baron-Serf setup this country is so well-known for.

(and btw - I did meet your somewhat strange criteria!)

You can ask your landlord for a longer agreement i.e 5 years why don't you? I am a landlord and would gladly accept.

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

What an excellent idea.

(You do realise that your proposal would force a deflationary collapse, don't you)?

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

Yes, a good old rant can be very beneficial. Letting off steam is very good for the blood pressure.

Edited by Mrs Bear
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There is a third way which I'm witnessing in the remainants of my biking group, in effect the setup a PO box, then live out of their cars, keeping a large 10 man army tent nearby some sort of water source and running things off a diesel generator.

Its rent & council tax free and you are ultra mobile, I did something similar with a motorbike and tent nearly 5 years ago. Hence the anology of must have house = must rent or buy is wrong.

Near Fanling in HK where my dad's house is somebody has put a 22ft shipping container on some disputed land (the owners live in Canada and don't check often), and lives out of that rent and council tax free, there is a public tap nearby and some grotty public toilets.

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

:rolleyes:

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You can ask your landlord for a longer agreement i.e 5 years why don't you? I am a landlord and would gladly accept.

Problem is that most people need a get out in the case of a catastrophic change in their circumstances.

They may be sure today that this is the house for them for the next 5 years, but when their boss tells them that their job is moving 200m miles away they need a get out.

Oh and taken to its extreme, a fixed term rental is not extinguished by the death of the tenant, the estate is legally expected to pay for the full term (if they can't find someone to take on the liability).

tim

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are a landlord and your tenant wishes to purchase your property, you are legally require to sell it to them at no more than the previous purchase price

Just to make it clear if you own more properties than you require to live in, you are a parasite on the economy.

Now when you purchase a property for rental, you can only rent to people who genuinely require temporary accomodation, rather than people who have been priced out of the market by your rent-seeking activities.

What do people think?

With the slight modifications I have made, I think it's a great idea.

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I think if we introduced the following rule it would give everyone piece of mind and let them get on with there lives, without worrying about house prices.

If you are 30 and earn less than £40k you cannot afford to buy and should spend your life renting, Unless you have already bought

Just to make it clear if you earn £39k at age 30 and £40k at 31 you should NOT buy.

Now when you hit 30 and you know you will never buy you can plan around this. Try and get renting contracts fixed for 2 years to keep your moving / agent costs down. We need to get away from the mantality that everyone has the right to buy. NO they don't only people who can afford to meet the cost should buy.

Look at all the benifits ranting provides i.e never having to worry about the boiler repair bill.

What do people think?

motorhome.jpg

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