Monday, April 16, 2012

The Housing ‘market’ isn’t fit for social purpose

High house prices trap rising numbers in 'generation rent' – and they are not happy about it.

High house prices are trapping more young and middle-aged people in 'generation rent'. Restricted mortgage availability is also excluding rising numbers from home ownership, despite widespread dissatisfaction with rented accommodation and precious little hope that house prices will fall.

Posted by dill @ 11:07 AM (2328 views)
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12 thoughts on “The Housing ‘market’ isn’t fit for social purpose

  • I’m happy renting but the fees for moving rental property have gone crazy.

    We put an offer on a new rental home on Saturday. If accepted the fees will be £453 and that’s excluding the deposit.

    Tenancy Agreement – £253
    Reference check – £175!!
    Looking after deposit – £25

    Makes me really dislike EAs….

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  • I like renting – ‘I am not a prisoner’.

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  • sibley's b'stard child says:

    “…high house prices and low mortgage availability seem to have turned privately rented accommodation into a prison for many.”

    No, no, no. The former is the problem; the latter is merely symptomatic. In any event, if the public-at-large can’t help but commit financial suicide, others will have to intervene by proxy.

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  • @1 Those prices are criminal. Just beggar belief. Talk about exploitation. Landlords are generally scumbags for participating in such a completely exploitative process. No wonder we are in the toilet economically. The system is top heavy with useless barstewards who contribute nothing but expect a free hand to exploit the productive part of the economy. There in one list is the real grasping sense of entitlement of the rentier class.

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  • @1 Renters aren’t proper people so don’t deserve the benefits of a properly regulated rental sector
    If we were proper people, this could all be sorted out simply by a blanket ban on any fees borne by the tenant. What you see is what you pay.

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  • @ 4 & 5

    What makes it worse is having to be really nice to the EA to ensure we get the property, when all I really wanted to do was tell her how outrageous the fees are.

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  • mark wadsworth says:

    So we’ve got mortgage prisoners and rent prisoners, do they want the rent prisoners to become mortgage prisoners or what?

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  • greenshootsandleaves says:

    ‘With the Government recently introducing initiatives such as NewBuy in an attempt to stimulate the housing market’

    Nice to see yet another sighting of our old favourite! When even ineffectual schemes such as newbuy almost always get a mention whenever people write about property it’s no wonder the shappsies of this world are willing to invest (the taxpayers’ money) in them – they give the electorate the impression that someone is trying really really hard to find a solution.

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  • Thinking out loud….
    The fees for renting the property are not included in the rental price and there is no small print showing the fees that you MUST pay to be able to rent the property.

    Isn’t this False Advertising?

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  • Who the hell are all of you renting with? I’m a student In London and have rented in the private sector for 5 years

    Sep 2007-May 2008: 2 bed flat share with 3 others, £1833/month, no deposit, no fees, location: W1
    May 2008-Jun 2009: single room with shared toilet, £650/month, £200 deposit, all bills incl internet paid, agent fees: £50, location: SW7
    Jun 2009-Mar 2012: studio flat with my fiancee, £845/month, £1170 deposit, all bills paid, agent fees: £130, location: NW3
    Mar-2012-present: 1 bed flat with fiancee, £1560/month, £2340 deposit, agent fees: £250, location: SW5, 10 mins from my workplace where I start on £26K immediately after graduating in June. (In hindsight should have offered £1500/month… which means we are paying an extra £720/year fee to the agent)

    I’ve never had a reference check, all I did was show a bank statement with £2000 each time. All of these were faceless landlords based in Jersey or Luxembourg with agents managing the properties.

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  • crash bandicoot says:

    MW, how about some poor old lady prisoners trapped in the family home?

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  • mark wadsworth says:

    Crash, Crash, listen up – that prison can be turned into a sparkling palace by the simple application of some Bracknell Forest Fairy Dust. hey presto, the hard working hard pressed widow can enjoy those precious family memories in a long and happy retirement – heating bills aside – and have something to pass down to her hard pressed hard working children, and thus we will all get magically richer.

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