Jump to content
House Price Crash Forum
prozac

They rent their cars, they rent their phones, they rent their music. They don't have that same concept of ownership

Recommended Posts

https://www.thisismoney.co.uk/money/markets/article-6635393/Boss-one-Britains-largest-private-landlords-Helen-Gordon-pushes-case-renting.html

It's a view that might grate with 'Generation Rent' who can't get on the housing ladder. 

But Helen Gordon, the chief executive of Grainger, one of Britain's largest private residential landlords, is trying to convince me that some younger people are renting out of choice, not necessity.

'I think there's a younger generation coming through that don't have the same views on ownership,' says Gordon, 59. 

'They rent their cars, they rent their phones, they rent their music. 

Edited by prozac

Share this post


Link to post
Share on other sites

Young people like renting music and cars long term - it can make economic sense. 

They often like renting when they are young. And have always done so. 

They do not like renting when they reach middle age, on the whole. 

Share this post


Link to post
Share on other sites

People rent cars and music because it's a cheap way to consume them.

Renting housing forever would be attractive if it cost £100 a month for a nice 3 bedroom house. At £1k per month people want an escape route i.e. buying.

Share this post


Link to post
Share on other sites

It's good that the young have different views on personal property.  It will make adapting to the glorious vegan genderless workers paradise a smooth process.  

 

Share this post


Link to post
Share on other sites

Yes, let’s all pretend that renting produced goods and services, from the people who produce them, is similar to renting the ground we stand on from someone on a special government list. 

Share this post


Link to post
Share on other sites

I bet she also thinks that people on zero hours contracts love the flexibility that it gives them?

Renting a house would be fine ifnthe housing stock and renters rights were suitable for long term occupation and rents were low enough that you could make ends meet without difficulty every month.

Share this post


Link to post
Share on other sites

I think 'renting' music (assuming we mean spotify and the like) is a rather different proposition to renting a car or a house. unlimited access to substantially all of the music you could want to listed to in your lifetime for 6 people (on spotify family) for the price of one cd a month.

To compare that with houses or cars would be to offer me the pick of homes to sleep in on any given night, or a garage full of cars to take my pick of each morning, but to pay the lease for that day on only the one car i choose.

The benefit of ownership is the period you spend paying nothing once you own your item outright. Ive just bought a brand new car from a broker for less than it would cost to lease for 4 years. I intend to keep it for at least 10 years. The car its replacing is 13 years old and has never cost more than £350 a year to service, maintain and MOT.

Share this post


Link to post
Share on other sites

people wouldnt rent cars if they could afford to pay 2-3k for a second hand one. its the very poor that are first in line for a new car as its just a monthly contract, in my street its all those on the crappiest wages that have the new cars. compounding their poverty and no diffrent from mobile phone contracts instead of sim only ones, provident cheques and 69% interest rate credit cards you cant get out of cause you missed a few payments and no-one will let you transfer to a cheaper one. 

 

people who rent stuff are just poor and kept poor in a loop of poverty. 

Share this post


Link to post
Share on other sites

The young rent their DEBT not because they cannot afford to buy their DEBT outright instead because they prefer the flexibility of open ended infinite DEBT versus the rather outdated concept their parents employed of paying off their DEBT after a few years then renting it back out to their children.

Share this post


Link to post
Share on other sites

The goverbankment has pretty much achieved it's aims from what I can see.... a nation of lifelong obedient, compliant, disenfranchised, debt slave worker drones. 

Share this post


Link to post
Share on other sites
21 hours ago, cnick said:

Antone remember Radio Rentals? (and others?)..... at a time when radios TV & HiFi were too expensive to buy.

https://en.wikipedia.org/wiki/Radio_Rentals

Yes.....two different issues, renting because have no other choice or renting out of choice.

Own homes, cars, music, film, books etc or rent everything for ever?........requires a growing regular income forever.......rents always going up........end up owning nothing or something?......... can't take it with you.😉

Share this post


Link to post
Share on other sites

Renting is twice the price of buying. Renting is purely a reflection of prices to buy ( in an everything bubble) becoming impossible.  

Is it now 1929 mark 2 we're living through?

About to learn the hard way, a whole generation, never to buy on tick? 

 

Share this post


Link to post
Share on other sites
20 hours ago, jimmy2x3 said:

people who rent stuff are just poor and kept poor in a loop of poverty. 

Collectively we rent our medium of exchange (broad money supply) from the cartel of commercial banks.

We must borrow it into existence at interest, loan by loan. The loans are rolled over indefinitely.

We pay enormous interest for the very existence of electronic numbers sufficient to run our economy.

Most of us are too stupid to understand this.

Share this post


Link to post
Share on other sites

24 year old  "Millennial' here. 

Reading this on a phone I paid cash for (used) with £5 monthly giffgaff cancel anytime "goody bag". planning on buying a used car for cash when I finally pass my test. 

What a load of trash this woman from Grainger is spouting, 

I'm sure there's plenty of us that waste their money on avacado toast & leased cars but most of us want to own a house. Some of us don't know how to get there yet but who wants to be a tenant in their own land.

Share this post


Link to post
Share on other sites
8 minutes ago, Council estate capitalist said:

24 year old  "Millennial' here. 

Reading this on a phone I paid cash for (used) with £5 monthly giffgaff cancel anytime "goody bag". planning on buying a used car for cash when I finally pass my test. 

What a load of trash this woman from Grainger is spouting, 

I'm sure there's plenty of us that waste their money on avacado toast & leased cars but most of us want to own a house. Some of us don't know how to get there yet but who wants to be a tenant in their own land.

Vote Corbyn, if Brexit, the fed raising rates or China slowing down doesn`t crash the market, he will! :lol:

Share this post


Link to post
Share on other sites
5 hours ago, The Spaniard said:

Collectively we rent our medium of exchange (broad money supply) from the cartel of commercial banks.

We must borrow it into existence at interest, loan by loan. The loans are rolled over indefinitely.

We pay enormous interest for the very existence of electronic numbers sufficient to run our economy.

Most of us are too stupid to understand this.

Bang on, Bank of England admitted in 2014 that 97% of the money supply is created by private banks..

https://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

What do private banks mostly lend for? Mortgages.

Private debt to gdp tracks house prices pretty well. 

"Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, "there'd be a revolution before tomorrow morning".

I opted for shared ownership a few years ago, and even with salary increases I still can't borrow enough to make up a full mortgage.

I've been maxing out overpayments to the mortgage though. 

Funny thing is,  the money I was paying for private renting was equal to a full mortgage.. 🤷‍♂️

 

 

Share this post


Link to post
Share on other sites
4 hours ago, dances with sheeple said:

Vote Corbyn, if Brexit, the fed raising rates or China slowing down doesn`t crash the market, he will! :lol:

Labour Party housing policies include building one million affordable homes over the next ten years mostly for social rent. Not quite a program of general needs social housing, some would be delivered by private housing associations, but pretty close. The last time the UK govt did anything on a similar scale was the 1970s. Councils will be given new powers to acquire land and encouraged to borrow to build. New capital assets will mean new revenue streams ensuring these developments are partially self-funded. Tackling the housing crisis locally will reduce demand for other social services especially those involving the provision of temporary accommodation. Right To Buy will be ended which will curtail the flow of former council homes into the hands of private landlords. A new definition of affordability will be made that's linked to local incomes rather than average rents. Affordability will no longer be a moving target.

What is there not to like?

http://labour.org.uk/wp-content/uploads/2018/04/Housing-for-the-Many-final.pdf

Share this post


Link to post
Share on other sites
On 29/01/2019 at 06:32, prozac said:

What a load of tosh. I’d love to be able to engage in discretionary spending on vinyl and have a spare room full of music.  

The reason I am not is because I am competing with BTL property-is-my-pension boomers for the first rung on the ladder. My savings/deposit fund will be up to £20,762.36 by the end of the month. I feel like I need to push on to 25k and then 30k. It has got to the point where it is just numbers on a screen.

This is bit OCD but I actually have a spreadsheet of the CD collection I would like to own . My taste is actually quite boomer-ish [Springsteen, McCartney, Pink Floyd]. One day…

Perhaps it is the time of year but I’m feeling the frustration of trying to save a monster deposit more than usual this week. Perhaps I’m just an entitled Millennial. 😊  

Share this post


Link to post
Share on other sites
9 minutes ago, zugzwang said:

What is there not to like?

 

Estates full of Tony's Finest ruining nearby communities, as is already the case on a smaller scale throughout the country?

We can be assured that imports of that nature will carry on regardless of hell, highwater, or Brexit.

 

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.

  • 295 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.