Jump to content
House Price Crash Forum
Sign in to follow this  
durhamborn

Rising Housing Costs Will (Is) Push Millions Into Poverty.

Recommended Posts

Link to Joseph Rowntree Foundation report

Look away now........

http://www.jrf.org.uk/publications/what-will-housing-market-look-2040

The research finds:

  • Private rents in England are forecast to rise by around 90 per cent in real terms between 2008 and 2040 – more than twice as fast as incomes. It predicts poverty rates among private renters could be as high as 53 per cent by 2040, compared to 43 per cent in 2008.
  • The decline in social renting and rise in private renting is likely to become more pronounced over the next few decades. Private renting is projected to grow to house one in five people in England by 2040, compared to one in six today. Social renting will house just one in ten by 2040, compared to one in seven today.
  • Poverty levels in England can only be contained if housing supply nearly doubles to 200,000 homes a year by 2040; social rents do not move closer to market rates and rises are limited to 1 per cent over inflation; Housing Benefit meets a similar proportion of rent as in 2008; and tenure patterns remain unchanged.
Edited by R K

Share this post


Link to post
Share on other sites

At the moment, I'm putting the Joseph Rowntree Trust on my list of charities that have been taken over by a 'Friend of Gordon'.

See Resolution Foundation for frither examples

Share this post


Link to post
Share on other sites

Those JRF figures seem to suggest that homeownership doesn't decline between now and 2040? Fat Chance...

Or is the transparency between households and people not there for me to judge?

Share this post


Link to post
Share on other sites

Yawn....don`t know how these clowns could publish this shite with a straight face (maybe they don`t) My rent has gone nowhere in 17 years, and I don`t expect it to shoot for the moon during the coming deflationary depression. Headline should read -

MILLIONS WHO THOUGHT THEIR HOME WAS THEIR PENSION MUGGED BY BANKERS!

Share this post


Link to post
Share on other sites

Where we live rents are the same as they were four or five years ago, easy to judge as they are standard 2 bed flats and there are loads of them. However purchase prices have gone up by 40% in the same time period and around 25% in the last year.

Is that asking purchase price or actual selling price?

Share this post


Link to post
Share on other sites

Rents are reliant on wages/incomes, preferably good tenants that are in a job that earns a regular income.....banks lend to rent, and will often stipulate shorthold tenancy agreement with no housing benefit tenants.....ask Mr Wilsom

Rents link to wages....Mortgages link to interest rates, deposits and wages....

Can tax payers continue to afford rising rents for those who don't earn or earn enough to pay?.....the lower the rents the richer the country. :unsure:

Share this post


Link to post
Share on other sites
Private renting is projected to grow to house one in five people in England by 2040

We'll probably have over 1 in 5 living in private rented by the end of this decade, never mind by 2040. 1 in 2 living in private rented by 2040 sounds easily doable.

Share this post


Link to post
Share on other sites

Selling prices (not initial asking which is of course the righmove index base) which are normally 3 to 5% lower than asking, but some drop quite significantly to a more 'realistic' asking price. eg initial ask 575k down to 525k after a couple of weeks and sells for 499k

Are sales volumes up 40% with all these bargains around?

Share this post


Link to post
Share on other sites

We'll probably have over 1 in 5 living in private rented by the end of this decade, never mind by 2040. 1 in 2 living in private rented by 2040 sounds easily doable.

Sounds pretty silly to me. There is more chance of a very big property price correction......

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.