This is going to be the reality for a large chunk of the population, as the UK continues it’s match towards serfdom.
Rents at this level will force people to share properties to make them affordable. But that’s been a reality for my entire adult life. I have sympathy for those who have to make that adjustment late on in life, but they’ve enjoyed something that more and more young people will never have.
Uk should come back to eu by way of emergency – brexit isn’t the only cause of all this but it’s a big drag and totally fucking deluded
I’m not unsympathetic, but she’s just come into the same realm as most younger generations for the last decade.
If anything she has had it lucky up till now.
However, this isn’t about age, it’s about a broken system that isnt helping our own people.
And here it is, a vision of the future for a huge percentage of the Millennial generation in the UK (edit: and those who are younger, this is not an issue confined to a single generation of course).
Imagine being *in your 70s* and still clocking in to do the day job and once every couple of months you have to spend your well-earned rest time tidying up your shitty Slumlord rental accommodation ready for the next inspection. Paying over a third of your wages to that arsehole who was the rich kid at school (who has long since inherited the “portfolio” and continued the Land Baron family dynasty,)
Millions of people won’t have to imagine, this is what their old age will look like.
This is what your country looks like after 12 years of the Tories
Children dying of hunger
Old people thrown into the street
We’re colder
We’re poorer
It’s not an accident, **this is what they wanted to happen**. They want us to be too frightened to demand to be treated as humans. They want us to be too poor to risk dissent.
Likely will get worse in the coming years too. By to let mortgages expect a 15% yield as a minimum. When mortgage products expire on rental properties, and the interest rates pushes the repayment up 50% or more, the rent will go up to sustain the yield. It’s a ticking time bomb….
Huh if if isnt the consequences of your own generations actions and voting
We were in that situation for almost 3 years, lost everything because of the pandemic and have struggled to rent ever since, we’ve been in emergency accommodation despite having 2 very good incomes.
12 years in the making by the conservatives. Welcome to a truly broken Britian, Free to those that can afford it, very expensive to those that can’t!
This is why I question those who suggest it’s feasible to continue renting until death and investing the money you would’ve spent on purchasing a house and associated interest on a mortgage.
If you do not own your home, you are at the mercy of others for housing and have zero control or power.
As we’ve seen this year, you also risk the combination of increasing rents and pension/investment values going down. Do you really want to be faced with that (and possibly losing your job that keeps you above water) when you’re old enough that you piss yourself if you sneeze too hard?
Elderly could barely afford heat 15 years ago. There were stories in the papers all the time about it. I have no clue what they will do now.
Once again it’s another private landlord who are just parasites and a product of the Tories and right wing Labour.
We need a council house building program that will not only create affordable housing but also increase the economy etc.
Looking forward to when we will have neo feudal workhouses where you live & work and get paid coupons for food and shared pods.
Where I live, which isn’t even coastal, there are quite a few homes set aside as holiday cottages and are empty for a good portion of the year. This and AirBnB are eroding housing.
Properties left empty ought to be taxed to the hilt. Second homes that aren’t being let to permanent occupants also need to be taxed to the hilt.
There needs to be some sort of penalty basically for second home buyers. Massive taxes etc or some sort of priority for first time buyers when a house is on sale (obviously in a free market I don’t know how that second option would work)
airbnb and holiday lets need regulating, oor banning. the lack of affordable rental stock is due to landlords being able to airbnb their property on short term lets that pull in far more income, and pay far less taxes.
the result of this means locals pushed out of these areas move to cheaper areas, and the rents there get pushed up due to the increased demand.
airbnb is poison. unless its taxed the same as to let property is.
Just literally walked past a man in the Bristol area loudly telling his wife “the UK has a good standard of living, people need to get that into their heads”.
Not that I am doubting her account, but since when did someone saying they can’t afford their rent become enough to support an entire BBC news story? Most people would prefer if their rent was cheaper.
Does she not have a pension from her employment? If not, does she not get housing benefit? Is that guy in the background her partner (so she is not living alone as the story seems to be trying to imply) or just some random person?
She is entitled to get privacy of course, but if she volunteers to be part of a news story she should allow them to print enough details to validate her story.
[deleted]
Rent rises – supply side will dry up because of affordability, then landlords will struggle to let.
The thing that really is wrong is that lets say you mortgage yourself a sub-to-let or buy it outright. What happens is that due to worsening scarcity, even though your main cost (the property purchase) cost is fixed, you tend to match the rental price to the increasing average linked to the increase in house prices.
It would be far fairer if rents locked in the original price of the property, and only allowed inflation for a reasonable fraction of rent being needed for maintenance and upkeep, other external costs if included in the rent. This allows for inflation but the rent increase is capped at far below the inflation in house prices in any given year. Rent price controls should actually be a thing and only allow legitimate expenses overheads.
a glimpse in to the future, alot of MPs would rather avoid.
​
When this is the norm, the entire care and pension system will be even worse than it currently is now.
I mean, why are you renting at 70? You couldn’t save up 10k for a deposit on a house in 55 years of working?
I know this comes across unsympathetic, but every other generation is facing perpetual renting, and this person is complaining because they didn’t take the decades of prosperous opportunity they had to get on the housing market.
Landlord here.i own four properties .I’ve had the letting agent get on to me to put rents up even though I’m not interested in doing so,I’ve had to because they have increased commission by 3%.My rents have stayed the same for the last 6 years so I’ve said ok put them up 10% .the agent wanted to increase some from 550 to 650.ive said no it’s too much.so basically with me agreeing to a small increase I’ll be £120 A month better of from 4 properties…..and the cunts want nearly £550 to redo contracts….so sometimes it’s the agents speculating more than the landlords. Also with epc changes looming and more regulation it won’t be worthwhile in a few years anyway.so expect a shortage and higher rents.i won’t be spending to bring old terraced houses to a C..simply not viable.
This is an advertisement for buying and paying off the mortgage
We’ll see can afford to rent, but it probably not a rental property that she would want or that it’s not in a location she wants.
People of the future will have to compromise quite a bit.
Should have bought earlier when you grew up in the most prosperous time in British history.
The government can easily stop this but they don’t.
29 comments
This is going to be the reality for a large chunk of the population, as the UK continues it’s match towards serfdom.
Rents at this level will force people to share properties to make them affordable. But that’s been a reality for my entire adult life. I have sympathy for those who have to make that adjustment late on in life, but they’ve enjoyed something that more and more young people will never have.
Uk should come back to eu by way of emergency – brexit isn’t the only cause of all this but it’s a big drag and totally fucking deluded
I’m not unsympathetic, but she’s just come into the same realm as most younger generations for the last decade.
If anything she has had it lucky up till now.
However, this isn’t about age, it’s about a broken system that isnt helping our own people.
And here it is, a vision of the future for a huge percentage of the Millennial generation in the UK (edit: and those who are younger, this is not an issue confined to a single generation of course).
Imagine being *in your 70s* and still clocking in to do the day job and once every couple of months you have to spend your well-earned rest time tidying up your shitty Slumlord rental accommodation ready for the next inspection. Paying over a third of your wages to that arsehole who was the rich kid at school (who has long since inherited the “portfolio” and continued the Land Baron family dynasty,)
Millions of people won’t have to imagine, this is what their old age will look like.
This is what your country looks like after 12 years of the Tories
Children dying of hunger
Old people thrown into the street
We’re colder
We’re poorer
It’s not an accident, **this is what they wanted to happen**. They want us to be too frightened to demand to be treated as humans. They want us to be too poor to risk dissent.
Likely will get worse in the coming years too. By to let mortgages expect a 15% yield as a minimum. When mortgage products expire on rental properties, and the interest rates pushes the repayment up 50% or more, the rent will go up to sustain the yield. It’s a ticking time bomb….
Huh if if isnt the consequences of your own generations actions and voting
We were in that situation for almost 3 years, lost everything because of the pandemic and have struggled to rent ever since, we’ve been in emergency accommodation despite having 2 very good incomes.
12 years in the making by the conservatives. Welcome to a truly broken Britian, Free to those that can afford it, very expensive to those that can’t!
This is why I question those who suggest it’s feasible to continue renting until death and investing the money you would’ve spent on purchasing a house and associated interest on a mortgage.
If you do not own your home, you are at the mercy of others for housing and have zero control or power.
As we’ve seen this year, you also risk the combination of increasing rents and pension/investment values going down. Do you really want to be faced with that (and possibly losing your job that keeps you above water) when you’re old enough that you piss yourself if you sneeze too hard?
Elderly could barely afford heat 15 years ago. There were stories in the papers all the time about it. I have no clue what they will do now.
Once again it’s another private landlord who are just parasites and a product of the Tories and right wing Labour.
We need a council house building program that will not only create affordable housing but also increase the economy etc.
Looking forward to when we will have neo feudal workhouses where you live & work and get paid coupons for food and shared pods.
Where I live, which isn’t even coastal, there are quite a few homes set aside as holiday cottages and are empty for a good portion of the year. This and AirBnB are eroding housing.
Properties left empty ought to be taxed to the hilt. Second homes that aren’t being let to permanent occupants also need to be taxed to the hilt.
There needs to be some sort of penalty basically for second home buyers. Massive taxes etc or some sort of priority for first time buyers when a house is on sale (obviously in a free market I don’t know how that second option would work)
airbnb and holiday lets need regulating, oor banning. the lack of affordable rental stock is due to landlords being able to airbnb their property on short term lets that pull in far more income, and pay far less taxes.
the result of this means locals pushed out of these areas move to cheaper areas, and the rents there get pushed up due to the increased demand.
airbnb is poison. unless its taxed the same as to let property is.
Just literally walked past a man in the Bristol area loudly telling his wife “the UK has a good standard of living, people need to get that into their heads”.
Not that I am doubting her account, but since when did someone saying they can’t afford their rent become enough to support an entire BBC news story? Most people would prefer if their rent was cheaper.
Does she not have a pension from her employment? If not, does she not get housing benefit? Is that guy in the background her partner (so she is not living alone as the story seems to be trying to imply) or just some random person?
She is entitled to get privacy of course, but if she volunteers to be part of a news story she should allow them to print enough details to validate her story.
[deleted]
Rent rises – supply side will dry up because of affordability, then landlords will struggle to let.
The thing that really is wrong is that lets say you mortgage yourself a sub-to-let or buy it outright. What happens is that due to worsening scarcity, even though your main cost (the property purchase) cost is fixed, you tend to match the rental price to the increasing average linked to the increase in house prices.
It would be far fairer if rents locked in the original price of the property, and only allowed inflation for a reasonable fraction of rent being needed for maintenance and upkeep, other external costs if included in the rent. This allows for inflation but the rent increase is capped at far below the inflation in house prices in any given year. Rent price controls should actually be a thing and only allow legitimate expenses overheads.
a glimpse in to the future, alot of MPs would rather avoid.
​
When this is the norm, the entire care and pension system will be even worse than it currently is now.
I mean, why are you renting at 70? You couldn’t save up 10k for a deposit on a house in 55 years of working?
I know this comes across unsympathetic, but every other generation is facing perpetual renting, and this person is complaining because they didn’t take the decades of prosperous opportunity they had to get on the housing market.
Landlord here.i own four properties .I’ve had the letting agent get on to me to put rents up even though I’m not interested in doing so,I’ve had to because they have increased commission by 3%.My rents have stayed the same for the last 6 years so I’ve said ok put them up 10% .the agent wanted to increase some from 550 to 650.ive said no it’s too much.so basically with me agreeing to a small increase I’ll be £120 A month better of from 4 properties…..and the cunts want nearly £550 to redo contracts….so sometimes it’s the agents speculating more than the landlords. Also with epc changes looming and more regulation it won’t be worthwhile in a few years anyway.so expect a shortage and higher rents.i won’t be spending to bring old terraced houses to a C..simply not viable.
This is an advertisement for buying and paying off the mortgage
We’ll see can afford to rent, but it probably not a rental property that she would want or that it’s not in a location she wants.
People of the future will have to compromise quite a bit.
Should have bought earlier when you grew up in the most prosperous time in British history.
The government can easily stop this but they don’t.
You know what to do.