Jump to content
House Price Crash Forum
GreenWarwick

Britain To Become Nation Of Renters

Recommended Posts

"A generation of young British adults is close to giving up hope of ever owning their own place to live. A startling new survey reveals that while the great majority of young Britons from "Generation Rent" would like to become homeowners, most believe they will be unable to raise the mortgage they require to get on to the property ladder.

A combination of continually rising house prices and pessimism about the future is threatening to send into reverse the explosion in home ownership stimulated by Margaret Thatcher 30 years ago, making Britain more like Europe, where living in rented property is the norm. The findings, issued by the Halifax, coincide with a separate report from the housing charity Shelter which reveals that the number of mortgages offered in April slumped to the lowest level since records began. Just 29,355 mortgages were granted, 18 per cent fewer than during the same month last year."

http://www.independent.co.uk/life-style/house-and-home/property/britain-to-become-a-nation-of-renters-2291072.html

The penny finally dropping..?

Share this post


Link to post
Share on other sites

"close to giving up" - yer right ! Personally from most people I know they just want somewhere to live that's affordable,ownerships isn't that important. Let's face it though who's going to make changes to the system ?

Share this post


Link to post
Share on other sites

I didn't want my kids to become debt slaves when they need a house so bought a house with a big plot (relatively cheap as it needed a lot of work - now done). As long as your garden is big enough, you don't need planning permission for outbuildings (there are position and height limitations). Dependent relatives (oldies/kids) can legally use the outbuilding for residential purposes.

Building regs changes in 2013 and 2016 will makes this more difficult so I'm extending and converting the outbuilding now, should be able to get it up to 1400sqft for under £60K.

Share this post


Link to post
Share on other sites

With increasing numbers of tenants it does mean the potential for more power. Rather than the economy being twisted in favour of one power ful vested interest group - ie owner occupiers, it could result in more benign conditions for renting, such as longer, more secure tenancies and so on.

Oh shut up Sir John. What crack am I smoking this morning? laugh.gif

Share this post


Link to post
Share on other sites

Most people i know don’t give a stuff about affordability as long as they can say they own a house. The Lemming like desire to discount all rational thought (past prices, state of the economy, job security, existing personal debt) in the pursuit of becoming a home owner would be hilarious if it weren’t for the impact it has had on the wider economy and future generations along with the most sinister Bernays-like engineering of the desire to get your foot on the ladder.

Share this post


Link to post
Share on other sites

how will this nation be able to "get on with their lives"?

Share this post


Link to post
Share on other sites

how will this nation be able to "get on with their lives"?

I realize you're mocking that common saying but it has some truth. When it is no longer up to a citizen whether or not they are going to be still be living in the same property 2 months from now long term planning is out the window. Without sensible laws around renting people are not planning for the future, they do not feel the need to join the community they might not be a part of in a couple of months, they do not consider having children, they cannot 'settle down'. The government as ever are well behind the curve on this, we won't see sensible renting laws until its too late for the recently priced out.

As ever the question is, where to emigrate to?

Share this post


Link to post
Share on other sites

I realize you're mocking that common saying but it has some truth. When it is no longer up to a citizen whether or not they are going to be still be living in the same property 2 months from now long term planning is out the window. Without sensible laws around renting people are not planning for the future, they do not feel the need to join the community they might not be a part of in a couple of months, they do not consider having children, they cannot 'settle down'. The government as ever are well behind the curve on this, we won't see sensible renting laws until its too late for the recently priced out.

As ever the question is, where to emigrate to?

good point...dont know how we managed to bring our kids up, but we were able to rent in the right "catchment areas" whenever we needed, but I can see many feeling the "instability.

I guess I was lucky, I discovered in GC1 that even owning a house offers no security in a downturn, so it hasnt bothered me since.

And on that point of catchment, the "good" school they went to turned out to be a strange one.....the old head left and a new one came in...he was a plonker but had lots of titles and had "been abroad"....useless tos*** was removed after 4 years....

So good was the school that the "doormen" on the IT suite were known to the kids when they went clubbing in Town....they were on the door there too.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.