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Landlords Are Entrepreneurs Who Should Be Encouraged

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http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11085099/Landlords-are-entrepreneurs-who-should-be-encouraged.html

What’s the fastest-growing British industry of the last decade? Apps for smartphones perhaps? Web retailing? Payday lending? Actually, it is probably renting out property. The buy-to-let boom has seen a huge growth in the number of landlords, and the number of properties available to rent.

In 1999 private rentals accounted for 9.9pc of households, but that has now almost doubled to 17pc, and it is growing all the time. And yet the words “landlord” and “crackdown” now seem to be irredeemably joined together, like salt ’n’ vinegar. Hardly a week goes by without someone calling for a crackdown on rogue landlords, calls for controls on rents, or campaigns by the Revenue to collect more tax from them. Only this week, the Treasury came up with some new rules to restrict buy-to-let mortgages.

But if you pause for a moment and think of this as an industry, and all those buy-to-let landlords as entrepreneurs, then it is all very odd. For how many other industries does the Treasury specifically try to make it harder for small businesses to raise finance? Which other group of entrepreneurs gets targeted for price controls, or anti-tax avoidance campaigns?

Hilarious. BTL clearly is great news for GDP growth, sucking the life out of the economy on a unproductive asset that makes zero contribution to national productivity.

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Landloards would be Entrepreneurs if the government didn't force oppressive planning restrictions upon us. If landlords could build nice houses and flats to rent at a profit, then why not let them?

the system currently in the UK is just plain wrong and that's quite obvious. The government should be actively encouraging landlords to build, with the government backing out so that no more 'Melenium Ghetto estates' are created

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http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11085099/Landlords-are-entrepreneurs-who-should-be-encouraged.html

Hilarious. BTL clearly is great news for GDP growth, sucking the life out of the economy on a unproductive asset that makes zero contribution to national productivity.

not unless you define national productivity to include rental prices ... Would be even better if we could impute rent for all houses..

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He appears to have been concerned about tighter clampdown on landlords, for some time. A landlord perhaps? A thriller writer / financial journalist. http://en.wikipedia.org/wiki/Matt_Lynn

Britain’s new breed of landlords should prepare for a political backlash
By: Matthew Lynn 02/09/2013

http://moneyweek.com/britains-new-breed-of-landlords-should-prepare-for-a-political-backlash/

I'm coming around to the view they may be correct, when there is no stomach for a hpc, people making up excuses for those who choose to outbid others by crazy sums, while others fully expect another doubling in values next 15 years. Let's have more landlords, and RK's new boom longwave HPI. This is the ACCUMULATION phase. Standby for wage growth and new boom.

Similar story in much of the reflated West.

Blog - The Wall Street Journal.
Sep 9, 2014
[..] One popular trend cited frequently in the press is that millennials and other renters have permanently turned away from owning homes after watching their parents’ generation take it on the chin during the housing bust. But the New York Fed researchers say their survey points to a different conclusion: borrowers want to buy, but they can’t cut it financially.

BN-EL095_NYF2_G_20140908113625.jpg

http://blogs.wsj.com/economics/2014/09/09/grand-central-fed-frets-about-market-rate-expectations/

Why people think they can build homes faster than government encouraged property speculators can speculate on them is beyond me.

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Hardly a week goes by without someone calling for a crackdown on rogue landlords, calls for controls on rents, or campaigns by the Revenue to collect more tax from them

Is that true.

Apart from the few references to tightening of some mortgages there doesn't seem to be that much about landlords in the MSM.

Apart from the Wilsons selling up that is.

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if you pause for a moment and think of this as an industry, and all those buy-to-let landlords as entrepreneurs, then it is all very odd

Yeah, and if a frog had wings it wouldn't bump its ass when it hopped

Of course its odd, because it isn't an industry, and they aren't entrepreneurs.

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Guest Jemmy Button

I have no idea why but my natural instinct, when I hear that word 'Landlord', is to think of the word 'SCUM'.

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Cadres were sent into the villages, where they conducted surveys to see who owned the land, and which landlords were good and which were bad

b. Speak Bitterness meetings

China%20-%20peoplescourt.jpg

‘People’s Courts’ were held in which peasants were encouraged to accuse the landlords; sometimes, this resulted in immediate beatings and executions – perhaps 2-3 million landlords were executed, and feudal China came to an end

hmmm except we're on the road to that conclusion, which could be the scene here but in 100 years time.

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Pimps are Entrepreneurs who should be encouraged.

Both profit by exploiting the weak and vulnerable. The difference is that the Landlord really has you over a barrel, holding a near-essential product to ransom. The honest pimp has to compete in a more challenging market, and without the taxpayer subsidy!

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some are entrepreneurs

some are not

some are good landlords and it would be ok to be a tenant of

some are not

same as in any other 'industry' really

I know a great bike shop for instance

and I know a terrible one (that has been going for years by the way, even though 'everyone' says it is terrible).

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Of course LLs should be encouraged. As any fule kno, if they were not so nobly buying all this property and kindly allowing other people to live in it, it would simply disappear.

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Their other job may be as an entrepreneur, but rent seeking leeching landlordism is not one of them.

Read Adam Smith, Ricardo, Henry George - this is not a new, jealous opinion but rather the accepted one.

I am thinking of people that risk their own money and time to create housing stock that is properly maintained and let at sensible prices to good tenants

There are some

not many, granted, but there are some

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