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Sancho Panza

A quarter of all UK households will be private tenants within eight years, forecast

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Property Industry Eye 23/8/17

'The average tenancy length in the UK is getting longer – and by 2025, 25% of all households will be living in the private rented sector.

Both findings are from LSL companies.

Your Move reported that in London – which has almost one-fifth of all rental properties in the UK – the average tenancy length is 20 months, but that in the south-east and across the commuter belt, tenancy lengths are much longer.

In Sevenoaks, Kent, for example, the average is now 44 months.

Your Move said that average rents in London stood at £1,277 a month in June and in the commuter belt at £780 a month.

The shortest tenancies in the UK were found in the south-west (15 months), where the average rent has fallen to £664 a month in June 2017 from £684 in June the year before.

In Wales, where the average rent as of June was £599, the typical renter stays in the same property for two years.

In Scotland, tenancy lengths hit 18 months, while tenants in Northern Ireland stay an average of 17 months.

Meanwhile, separate research from the Corporate Client Department of LSL is predicting that one-quarter of all UK households will be private tenants within eight years.

According to the latest English Housing Survey, the proportion for the year 2015/2016 was 20%, representing 4.5m households. The figure equates to a growth of 2.5m households since 2000.'

 

 

Tories had better hurry up and destroy BTL if they want a majority this side of 2030.

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I think if the squeeze remains by the next election they are stuffed.. people will not keep voting for more of the same.. 

300'000 ccjs in the first 6 months of this year and a 35% increase in missed debt repayments.. 

when generation rent retire with no assets the benefits system will collapse.. who pays for their care,rent,food,nursing home.. The tax payer

Housing benefit is up to £25 billion, pensions are screwed because of low interest rates.

The £ is collapsing because of the bankers and QE, $2 to £1 or 56p to £1 pre 2007 bailout.

food bank usage at record high, homelessness on the increase, credit card debt, car finance, JAMs just about managing one pay day from trouble. Savings at record lows, wages stagnating or even falling from mass immigration and the gig economy, all propped up with working tax credit..

Armageddon out of here!

 

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11 minutes ago, macca13 said:

I think if the squeeze remains by the next election they are stuffed.. people will not keep voting for more of the same.. 

300'000 ccjs in the first 6 months of this year and a 35% increase in missed debt repayments.. 

when generation rent retire with no assets the benefits system will collapse.. who pays for their care,rent,food,nursing home.. The tax payer

Housing benefit is up to £25 billion, pensions are screwed because of low interest rates.

The £ is collapsing because of the bankers and QE, $2 to £1 or 56p to £1 pre 2007 bailout.

food bank usage at record high, homelessness on the increase, credit card debt, car finance, JAMs just about managing one pay day from trouble. Savings at record lows, wages stagnating or even falling from mass immigration and the gig economy, all propped up with working tax credit..

Armageddon out of here!

 

That is interesting stuff Macca, I have not heard and bad debt stats for years now, it is like it all went away. There is close to £2 Trillion personal debt out there, there just has to be a lot of un talked about pain out there.

I actually thought HB was just short of £30 Billion per year now, how many homes would that build?.. I bet just 10 short years and enough homes would be built to more than solve the housing crisis, to pay £30 Billion a year out of taxpayers money forever is just insanity.

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52 minutes ago, Errol said:

Neo-Feudalism OLD FASHIONED THEFT AND OPPRESSION in all its glory.

My/Our taxes will be used to pay their "housing LANDLORD benefit"

Edited by TheCountOfNowhere

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2 hours ago, wotsthat said:

That is interesting stuff Macca, I have not heard and bad debt stats for years now, it is like it all went away. There is close to £2 Trillion personal debt out there, there just has to be a lot of un talked about pain out there.

I actually thought HB was just short of £30 Billion per year now, how many homes would that build?.. I bet just 10 short years and enough homes would be built to more than solve the housing crisis, to pay £30 Billion a year out of taxpayers money forever is just insanity.

If you go on the internet you can buy prefabs for about 30k.. not the best of quality but after WW2 lots of houses were thrown up with breeze blocks and tin and are still standing today.. 

its closer to £3 trillion with pensions..

talking of War, during the war there was rationing, we imported 10% of our food and our population was much smaller.. 

Now our population is much bigger and we import 65% of our food.. 

i read lots of people talking about loads of land, build on green belt..

but is there loads of land? Is our rapid increasing population/current population sustainable should there be a freak world occurance? War, drought, currency collapse.. 

i think this race for money is putting our kids in danger.. our reliance on the rest of the world just for food makes us vulnerable..

Edited by macca13

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the quicker people opt out of the DEBTslave system the better

 

we've all been programmed to sneer at the benefits scumbags but they're the smart mofos yo

 

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9 hours ago, macca13 said:

If you go on the internet you can buy prefabs for about 30k..

Pictures or it didn't happen.

(Unless you meant that you  can but the pre-fab but not the land to stand it on. If that is what you meant, top trolling. If otherwise - you are an ignorant moron please DIAF.)

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10 hours ago, macca13 said:

If you go on the internet you can buy prefabs for about 30k.. not the best of quality but after WW2 lots of houses were thrown up with breeze blocks and tin and are still standing today.. 

its closer to £3 trillion with pensions..

talking of War, during the war there was rationing, we imported 10% of our food and our population was much smaller.. 

Now our population is much bigger and we import 65% of our food.. 

i read lots of people talking about loads of land, build on green belt..

but is there loads of land? Is our rapid increasing population/current population sustainable should there be a freak world occurance? War, drought, currency collapse.. 

i think this race for money is putting our kids in danger.. our reliance on the rest of the world just for food makes us vulnerable..

 

Meanwhile we have those grumbling and comparing those owning 2 homes in the UK (worth fortunes) being like only owning 1/3rd of a home in the US in terms of spaciousness.

I liked this stunt that a German supermarket recently pulled, below.

Haven't we imported a great deal of our food supply through 20+ years of raging HPI+++++ ?    And way before that.  

Bananas... symbol of freedom.  UK and Germany.   So few children had seen them... war years.  Heard Churchill issued a directive, soon after WWII, that all children be given a banana at school.    

I'm more worried about the HPI+++++/BTL housing financialisation.... + I pushback against those who advocate for (and those who accept) ever worsening housing situation for younger professionals.  "You can buy an ex-LHA property by the local tip" - says man rattling around in a large house worth £1.5m.   Prefabs.  Small.   In BTL/HPI chasing /2-home insanity.   Settle for ever less.  No.  The HPIers/BTLers can take some HPC to their mad-gainz, and have a market shakeup.

Quote

 

On the shelves they had messages such as ‘this shelf is quite boring without vaiety’ while the salad bar had a sign saying ‘our selection knows borders today’ and the cheese counter said ‘so empty is a shelf 

Supermarket clears all foreign goods from shelves to make point about racism

http://metro.co.uk/2017/08/23/supermarket-removes-all-foreign-groceries-from-shelves-to-make-point-about-racism-6872026/

 

 

 

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2 hours ago, thewig said:

the quicker people opt out of the DEBTslave system the better

 

we've all been programmed to sneer at the benefits scumbags but they're the smart mofos yo

 

Thats true

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Well I don't sneer at them (those claiming housing benefits).  Not been programmed to do that at all.

I do pushback against where the money goes... up to the BTL landlords who've tempted out many RTB owners to sell at high prices, and more BTL/HPIers pushing values higher, with rent rolls going to the BTLers.

Debt-slave + benefits scumbags?

Can you be both?

Also totally overlooks the fact that fewest people on record with mortgages, but most of you don't want to think about that.

All the £Trillions in wealth owned by outright homeowners... millions of people who are HPI++++ blissfully happy.  

All the BTLers... one today telling how he's been a LL for 20+ years and just one of his properties property up in value by £700,000 + 20 years of rent roll on it.

Carry on blaming the banks eh... the mad-gainz are with the owners/BTLers.   

And the 'debt-slaves' with the remainder of the mortgages we're not dragged into the banks + millions with loads of equity.

eqsAVmf.png

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Not long until there are more private tenant households than mortgaged households. Already happened in London.

Edited by Dorkins

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7 hours ago, Venger said:

All the £Trillions in wealth owned by outright homeowners... millions of people who are HPI++++ blissfully happy.  

All the BTLers... one today telling how he's been a LL for 20+ years and just one of his properties property up in value by £700,000 + 20 years of rent roll on it.

I've thought about this some, tangentially.

Imagine if one guy owned all the gold in the world. How much would it be worth? As far as I can see it played out, almost nothing, because how could you possibly value the gold versus other human services?

Take cryptocurrencies. Bitcoin is valuable for the technical reasons which people give, but also because it is spread out and widely available, relative to other cryptos, which means that other people can more accurately price it and will be more willing to trade in it.

 

My point being this: sure, the old farts may "own" a lot of the housing stock, however, who is going to provide them services? No one is going to wipe their demented asses for free, since they by and large either don't have families, or mutually hate each other.

My prediction: they will either die early and alone, or have to retrieve equity on their houses at fire sale prices, just to get some Somali to turn them over 2 x per day. Either way, house prices plummet and the "wealth" is redistributed.

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8 hours ago, Venger said:

 

eqsAVmf.png

Hi Venger. Do you know how this figure is calculated? I'm just wondering if it is skewed by BTL, i.e. 1 BTL landlord with say 20 properties. Assuming they are all mortgaged, that's still 20 physical houses with mortgages, but technically all in one household? I thought I read somewhere there's about 1.5 million BTL's, which co-incidentally is the drop in this chart?

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2 hours ago, Locke said:

Imagine if one guy owned all the gold in the world. How much would it be worth?

I have thought about this a lot in a slightly different way. Owning all the gold in the world was the objective of one man Auric Goldfinger in the eponymous novel. The plan was to detonate a dirty bomb at Fort Knox thereby rendering all the US government's gold radioactive and thus worthless. Goldfinger's own clean gold would be worth sooo much more. But would radioactive gold be worth any less than non-hot gold? Gold only has to exist in a vault to be worth something it does not matter if you can't actually go near it surely.

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  • 294 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%



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