Wednesday, July 1, 2009

Renters of the world unite

Home ownership for all is a low-rent idea

It has been clear for many years that renters have been classed below those willing to shackle themselves with ownership and aspire to bigger and better things. Renting allows for freedom of movement and if the UK adopted similar tenancy laws as are prevalent in most of mainland Europe then tenants and landlords would and should feel more secure. We have been sold a fantasy over the past two decades or so, that we all have a right to own and we all MUST own and keep up with the Jones's, Mustafas, Changs (add your own). Yes property can be an asset and has made people very rich over the last few years, but it should be treated as a roof over our heads, a home, not as a speculative tool.

Posted by bystander @ 09:22 AM (876 views)
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6 thoughts on “Renters of the world unite

  • Tarquinius says:

    I see a fundamental split-personality issue with the proposition here. If most people are encouraged to rent, then the ownership of property becomes far more of a speculative tool rahter than a “roof over our heads”, as most people who own residential property will be big property landlords/speculators rather than actual homeowners. No?

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  • letthemfall says:

    A breath of fresh air from the Times. Shows they can publish stuff on housing other than the nonsense from their columnists mired in BTL. Wonder what RSA stands for. Good post bystander.

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  • mark wadsworth says:

    @ LTF, it might stand for ‘Royal & Sun Alliance’?

    Excellent article, pity it didn’t suggest replacing Council Tax, SDLT, capital gains tax, inheritance tax & TV Licence fee with Land Value Tax, but hey …

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  • letthemfall/MW

    From the RSA website http://www.thersa.org/

    “For over 250 years the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) has been a cradle of enlightenment thinking and a force for social progress. Our approach is multi-disciplinary, politically independent and combines cutting edge research and policy development with practical action.”

    So Matthew Taylor is obviously well qualified to comment!

    (Well he rents anyway!)
    Well

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  • “If the average earner puts aside 5 per cent of take-home pay, it would take 35 years to save enough for a deposit on the average home.”

    It looks to me that home ownership has been transformed into property porn by some CDO, CDS, derivatives gamers.

    Nevermind the “sub-prime” people or their children who will need to pay the casino capitalism debt.

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  • The idea that it’s ‘okay to rent’ is fine in theory, but……..you’d have to invest the saved money in some vehicle where you’re liable to be robbed. If life proved harsher (illness, job loss/obsolete) than you’d planned there would be no little safety net or top ups from the state. Let’s be honest – the reason everyone wants their own house, is because the stuff the bourgeoisie used to understand and keep under their hat is in the public domain and the scam can’t bear the weight of the hoi polloi – it only worked when the majority were subsidising the few (university education being another state subsidised scam, years ago)
    Who wants to be a tenant anyway, having to stand by your bed and be inspected by landlords or their cretinous ‘EAspeak’ agents every few months…..be honest – no-one.
    And yes, the last couple of years (and the next few) will punish the ‘greater fools’ sorely – but thereafter normal service will be resumed. That’s why so many posting in here are willing the crash to run it’s course swiftly – they know which side their bread is buttered.

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