Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@Jamessmith-12

29 күн бұрын

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

@Ashley186fre2

29 күн бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@kevinmarten

29 күн бұрын

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

@Ashley186fre2

29 күн бұрын

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@kevinmarten

29 күн бұрын

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

It's not that the government are out of touch with ordinary people, it's that they couldn't care less about them.

@MrAce86Productions

10 ай бұрын

The main problem is that the people who voted for them in the first place. Historically, Conservatives have always been bad for the UK including Blair and Browns Labour who were conservatives in Labours disguise. Corbyn was probably the closest of the old guard who said as it was and was the best out of the bad bunch even though I don't support him. In a country where the people praise the king and follow the royal family like sheep and sit on our backsides and moan and do nothing, we deserve to get shafted.

@benghiskahn3673

10 ай бұрын

It's not even that. It's that they see this never-ending crisis as a never-ending series of opportunities for them to exploit and benefit from.

@JohnKerbaugh

10 ай бұрын

It is a democracy no?

@maggieadams8600

10 ай бұрын

@@JohnKerbaugh No, not really, it's a pretense of democracy, but not a very convincing one.

@JohnKerbaugh

10 ай бұрын

@@maggieadams8600 yeah... 😔

I anticipate a housing market downturn due to the numerous individuals who purchased homes above the asking price, even with favorable interest rates. Despite the low rates, many are now at risk because they lack equity. If housing prices continue to decline, they may face difficulties selling or even risk foreclosure if they can no longer afford the property. This scenario is likely to impact a substantial number of people, particularly with the anticipated surge in layoffs and the rapid increase in the cost of living.

@Jason9o669

7 ай бұрын

Predicting the housing market in 2023 is challenging because it remains uncertain how swiftly and to what extent the Federal Reserve can reduce cost surge and borrowing costs without negatively impacting buyer demand for various assets, including homes and automobiles.

@VickyAlvy

7 ай бұрын

Consider reallocating from real estate to stocks. Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not a financial advice, but it may be wise to invest, as cash isn't ideal in this period.

@Rodxmirixm

7 ай бұрын

Can you suggest the investment coach you've been using? It appears you've had success with their guidance.

@NoContextRDH

4 ай бұрын

You sound like a bot. Comment is more or less the same as another I’ve seen

@goych

4 ай бұрын

Houses have been too expensive since the 90s

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

@SandraDave.

3 ай бұрын

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

@nicolasbenson009

3 ай бұрын

You are right! I’ve diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

@Derawhitney

3 ай бұрын

Do you mind sharing info on the adviser who assisted you?

@nicolasbenson009

3 ай бұрын

Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@EdwinSolomon-zs3nz

3 ай бұрын

I am grateful for your assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Margaret can provide me with the guidance needed to rectify the situation before it reaches a critical point.

Stop letting people with their portfolio of houses buy up the “cheap” new homes just to rent them out at extortionate rates that potential first time buyers cannot afford or can but the leaves them with no way to save.

@CCP_Operative

10 ай бұрын

Market competition is what's needed. Anti-competition laws aren't going to bring down prices. Landlords aren't making large profits, rental yields are just a few percent.

@svmwasthesheet1971

10 ай бұрын

Buying family houses and turning them into multi let student accommodation is a big problem where I'm from.

@JamJestKox

10 ай бұрын

There should be three rounds of bidding for property and the first one should be for the first time buyers who are local, the 2nd for the first time buyers OR locals and 3rd should be open

@Andromahlius

10 ай бұрын

@@CCP_Operative There is market competition: the winners can buy. Yes, the selector is money.

@Fishstickification

10 ай бұрын

@@CCP_Operativeissue is the economic incentives are all there to benefit accumulation and the barrier to entry is ever rising. This isn’t the fault of landlords necessarily, as they do add value by investing money into the property where others might not (though I’d argue that there is sufficient demand for properties that owner occupiers might feasibly finance this work themselves. Issue starts when the property remains on an interest only mortgage with the rent being charged to generate profit to supplement the income of the landlord. This effectively creates a situation where someone holds an asset, recognises demand will always outstrip supply, and further recognises that they can always cover their monthly payment because their tenants HAVE to pay for SHELTER. Again this is not necessarily the fault of landlords, some would say shrewd business - I would use the word cynical

Low to moderate incomes are becoming worthless in the UK now. The whole fabric of society is starting to breakdown. Housing is just one aspect of this

@goodlookinouthomie1757

10 ай бұрын

Half a million people a year still want to move here. Well.... 3 billion probably want to move here but half a million actually do.

@HumanBeingsRThinkingBeings

10 ай бұрын

Mind Begs the Question: Hitler - blamed Nations Failures on Religious Minority If Politicians/Govts - blame Nations Failures on Vulnerable/Immigrants Practicing Hitlers Mein Kampf,no?

@zuzanazuscinova5209

10 ай бұрын

That's right. Unless you're born into wealth don't bother.

@MystifulHD

10 ай бұрын

late capitalisim

@ep1929

10 ай бұрын

​@@HumanBeingsRThinkingBeingsno need to start bringing Hitler into the subject, the fact is many of the world's poor see the UK as a land of milk & honey - that's a fact. We must protect our borders.

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

@BaileyHoward101

7 ай бұрын

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

@lilyhershey1

7 ай бұрын

You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

@louie-rose7

7 ай бұрын

​ *@kristenpierce8661* Do you mind sharing info on the adviser who assisted you?

@lilyhershey1

7 ай бұрын

Gertrude Margaret Quinto, is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@NoContextRDH

4 ай бұрын

A housing market crash isn’t coming ffs. People have been saying this for years and years and it never happens. House prices aren’t going anywhere except up.

Stop importing 600k people per year and stop foreign investors from buying up all the new properties and leaving them empty. Those two would be a good start.

@moosky7344

9 ай бұрын

2 child policy too or we're going boom boom explosion

@audie-cashstack-uk4881

8 ай бұрын

Stop above AND STOP PRINTING SILLY MONEY

@DrJams

3 ай бұрын

​@@moosky7344UK birth rate is below 2 on average

@TheAl2kas

3 күн бұрын

If you get rid of dead weight like asylum seekers, you could focus on english families and if amything, theres a need in people. Not in dead weight tho​@@moosky7344

Wow. What a joke this country is. So sad to be a young person in this country. It’s bleak.

@andrewwalsh2755

10 ай бұрын

Young professionals would be crazy to stay...

@liszaf3976

10 ай бұрын

It's funny reading that remark, my children all grew up in Greece where there's been an economical crises for decades, they have all recently moved to the UK for better jobs, better wages, lower taxes etc and can't believe that Brits moan about how bad it is!! You need to move and live somewhere where life is much harder, wages are lower, cost of living high, no respect in the work place , no council housing, no benefits and then see whether you have it bad or not!!!!! Hope life improves for you!

@robe1811

10 ай бұрын

@@liszaf3976But that’s race to the bottom thinking. Telling someone to eat a **** sandwich because then they will be grateful for the glass of **** they’ve been given to drink. The U.K. performs worse than plenty of countries in the OECD on certain key metrics not least investment in infrastructure and R&D spend which are crucial in terms of achieving an educated and skilled work force). Our schooling system is one of the worst in the developed world, left behind by the likes of Finland. Instead of lowering the bar why don’t we ask why a country that rates itself as highly as the British seem to doesn’t live up to the British’s opinion of it in reality when compared to nations who should, objectively be much worse than us but are actually much better….

@clb303

10 ай бұрын

@@liszaf3976 Two or more things can be bad. Could compare Greece to many other places and say the same thing yet you decided to move

@josephyates9936

10 ай бұрын

@@liszaf3976 I left the UK 15 years ago to live in western Europe. The best decision that I ever made. Although not without its problems the quality of life, housing, public services, and career opportunities have been infinitely better in than anything I had on offer in the UK. Give yourselves a few years and you will realize how much better life is in Greece than in the UK which is now a complete deadloss and will only get worse.

We talk about it as though it’s something to aspire to rather than a basic need. Somewhere to live shouldn’t be unattainable or a drain on all your resources.

@WaveRider1989

10 ай бұрын

So true. There needs to be more focus on building smaller houses and tiny houses etc. So everyone van have a home

@bigbarry8343

10 ай бұрын

@@WaveRider1989 Oh? English houses are already small comparing to the rest of the world.

@george4mon

10 ай бұрын

@@bigbarry8343yes homes are small in the uk but I recommend watching some KZread videos about actual tiny houses often they are built for £20.000-£50.000, I’ve been saying to people for years that they are the way forward.

@george4mon

10 ай бұрын

@@WaveRider1989yes!! Been saying this for years, more tiny houses! For most people they would only be a transition into a larger house/buying, but would make the transition from renting much easier, the big problem is land, owning land to put the tiny house on is expensive and in the middle of nowhere, councils need to designate land specifically for them.

@nicky_nike

10 ай бұрын

we need this crash to bring prices within the affordability of most.

Wow, just watched an eye-opening analysis of Bitcoin's latest price twists. It's amazing to see the impact of funding rates, media hype, and big players' actions on the market. This crypto journey is full of surprises, and insights like these are invaluable. It really highlights the power of technical analysis in navigating these waters. For anyone on the fence, now's a thrilling time to dive in and potentially ride the wave to success. The market's complexities are daunting, but also full of opportunities for the savvy investor. At the heart of this evolution is Evelyn Infurna, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment...

@JaxonParker923

4 ай бұрын

Run a quick online research with her name.

@JaxonParker923

4 ай бұрын

Evelyn Infurna

@lucassilva-ib9rx

4 ай бұрын

Bitcoin is the way of the future, and investing in it will be the smartest decision you can do, especially with its present Price.

@BrianNicole11

4 ай бұрын

The internet is filled with so many useful information about Evelyn Infurna crypto….

I fortunate enough to be a high earner and struggle so I have no idea how hard this is for people on low incomes. I feel if this continues there will be at best a national shutdown (like in France in 1968) or at worst a revolt. The greed needs to stop

@Whisp864

10 ай бұрын

I can barely afford food, I have no gas on most days and we’re struggling, I can only spend £75 on groceries and that’s a luxury for 3 people living under 1 council estate roof, with mould… that I pay £555 a month for with a salary off £22k, no car…

@hydrohasspoken6227

10 ай бұрын

and hope that will change anything

@user-tb7qz7id6t

6 ай бұрын

I not fortunate to be a high earner, but I earn equivalent to £59k a year in London and as a single person I cannot survive unless I want to stay in, buy nothing and live in absolute squalor, so don't know how families survive unless it's all on the government with benefits and doing stuff hooky like thieving and selling it in bin bags in pubs, at bus stops and food banks etc?

My mum rents in Spain. It is a very different system that favours the renter. Our housing crisis isn't a crisis its a deliberate political choice

@HorusHerotic

10 ай бұрын

It's just supply and demand. Do you know where the increased demand is coming from ?

@mattmathematics3591

10 ай бұрын

Absolutely

@mattmathematics3591

10 ай бұрын

@@HorusHeroticlol are u a first year uni student or something? Have you heard of this thing called the law?

@HorusHerotic

10 ай бұрын

@@mattmathematics3591 how is that relevant to my statement? Are you a bot ?

@ciaranhughes1199

10 ай бұрын

@@HorusHerotic It's nearly completely disconnected from supply and demand economics. Things like Airbnb and buildings being held as pure capital have dramatically affected the supply side and incentivised people to remove from the supply. The demand is being artificially inflated with some letting agents using algorithms to set rent that will lead to an acceptable amount of empty stock in exchange for inflated rents across all stock. F**K off with your supply and demand, all hail the great economic god of free market, trickle down and pissed on from on high nonsense

Lived in my car for 3 years. No bills. No council tax. No rent. Planning a trip to Europe to see the world. And planning a creation of a camper van and make a KZread channel. Going to continue living like this for the rest of my life if this is what it takes to save money and travel the world.

@mrw4ffle740

10 ай бұрын

Best of luck

@Yo-ItsYo

10 ай бұрын

❤

@LegalAlien100

10 ай бұрын

You’re a bloke I assume?

@Age_Of_Aquarius84

10 ай бұрын

Not really an option when you have a child but I applaud your creativity

@solapowsj25

10 ай бұрын

Painted cars😊.

It is impossible to buy a property as a single person in this housing climate. The deposits required are insane! The amount you get offered by the banks is nowhere near enough, but even if it is, the monthly repayments are just far too high. It seems like basically you need to couple up or you are doomed to being a renter with all your money going to a landlord and never having a property invested in for yourself... Anyone need a boyfriend? lol

Great discussion. The exact same issue is happening in Australia, despite our vast land and there's one reason why: GREEDY PROFITEERING. Despite rental vacancies being extremely low in Australia, the government has increased immigration to 400,000 this year. That is basically the size of our capital city (Canberra). One capital city's worth of people in ONE year. And the reason they did this is because they WANT house prices to go up. Politicians own multiple investment properties and have a massive conflict of interest. House prices in Australia have skyrocketed the past 10 years and wages have not shifted at all. Prior to 15-20 years ago house prices tracked closely to wages but ever since the Howard government, house prices started to become detached from wages because policies were introduced to treat housing as an investment instead of a necessity. And it's not just Australia where this is happening but Canada and New Zealand too. It's absolutely f*cked.

@RadiantStar8997

10 ай бұрын

How do the Aboriginies and Maoris feel about the housing situation?

@Spacemonkeymojo

10 ай бұрын

@@RadiantStar8997 Not sure to be honest. I still don’t think they’re over what the British did when they colonised Australia. Can’t speak for Māoris.

@RadiantStar8997

10 ай бұрын

@@Spacemonkeymojo Perhaps, another documentary by John Pilger on the subject.

@vincentalakija5515

10 ай бұрын

​@@SpacemonkeymojoWow and I thought Australia had it a lot better than the UK on terms of wages and properties, I guess it's all over.

@Spacemonkeymojo

10 ай бұрын

@@vincentalakija5515 Nope. Rampant immigration has reduced the quality of life here a lot in the past 10 years.

Property dealers are worried that their profit margin is decreasing whereas Renters are worried that they would be homeless !! Big stark difference!!

@MRW515

10 ай бұрын

It's the same, if landlords sell their properties the tenants will most likely have to leave.

@billyosullivan3192

10 ай бұрын

Land lords and regular home owners have the exact same incentive for housing prices to say high but u only blame land lords.

@jimthompson9370

10 ай бұрын

You just made that up, and clearly have no idea what you’re talking about.

@TmcksnT

10 ай бұрын

The renters won't go homeless. Move to a cheaper location. No one is forcing them to live in the centre of a big city

@Zaza-vc5th

10 ай бұрын

@@MRW515if they sell their houses eventually house prices will go down and people that had to rent to have a shelter can now go to the bank and get a loan for a house because they are more affordable.

The biggest issue is the high rent vs salaries. Rent is going up faster than people’s pay so you get to the point when your rent plus bills eats up most of your salary if not all of it.

@Ryanandboys

4 ай бұрын

That's because there's not enough homes or flats for rent. The real cause is that something is holding back builders from building supply to keep up with increased population This has been going on for at least 30 years.

@alexc7367

4 ай бұрын

@@Ryanandboys Nymbys and the use of housing, which is a human basic need, as investments by the wealthy elite who control our political class. They keep prices high and stock low so they can continue sucking young people dry, taking most of their income so they can never have their own home and stop being exploited. This causes most other issues, young adults can never afford to start a family, they can never try to open a business and innovate, stimulating the economy. They work a lot more, eat worse , spend less time on hobbies resulting in record mental and physical health issues. Could go on but essentially, the housing crisis amplifies every other issue.

@pobinr

4 ай бұрын

No the biggest issue is mass immigration It's not a housing crisis. It's an immigration crisis. Legal net migration 745,000 last last year =6230 new homes needed every week mostly squashed into England😮 Not rocket science Is it? 🤔 Infant school maths. Connect the dots for Gods sake You all keep voting LibLabCon pro mass immigration parties. Then moan about house prices & rents🙄

The other issue no one wants to discuss is that we have a housing crisis but the number of people entering the country is just causing a further strain on the housing/rental market

All these people that can’t afford a 5%-6% interest rate, couldn’t afford the mortgage to begin with. Low interest rates are unsustainable.

Nothing will be done about the housing problem in the UK because it is only a “problem” for those who either rent or are first time buyers, in other words, people with no power in society. The extortionate prices benefit the wealthy people who already own property, so it is not a problem for them and therefore nothing will change. At least, that is until houses become so expensive there is nobody left to sell to.

@HorusHerotic

10 ай бұрын

Prices are only increasing due to a large increase in demand. Where is the demand coming from ?

@Lewis-fd9js

10 ай бұрын

@@HorusHerotic well, I live in London, so I can speak from experience on that. Most of the demand in London is coming from wealthy foreigners who buy property they never even visit/live in. They purchase the property simply as an investment, and sit on it whilst its value goes up due to hoarding the supply of housing. The funny thing is, many of the houses remain empty, so London has the ironic position of being able to boast the largest homeless community in the UK, whilst having hundreds of vacant properties multimillionaires sit on to induce further demand. It’s quite the scam.

@csharpe5787

10 ай бұрын

​@@HorusHeroticnonsense.

@HorusHerotic

10 ай бұрын

@@csharpe5787 great response genius

@goodlookinouthomie1757

10 ай бұрын

Step inside Mayor Khan's Ultra Low English Zone and you'll quickly see where the housing demand is coming from. Are we building enough homes for an additional 500k "citizens" every year? Is that even possible?

As an avid podcast listener, this format is absolutely insane. Such a complex issue and swaths of people effected, and SECONDS to discuss it

@weeksy79

10 ай бұрын

@@youtubing9762 hadn’t considered that, not giving people chance to make valid points against the establishment makes sense

@RollcageHiggins-uf9nm

10 ай бұрын

To solve the crisis send all freeloaders back to their own countrys

@Fidelisjoff

10 ай бұрын

Believe me the cause of the problem and solution is simple but no Westminster party wishes to halt immigration. Don't worry I have good Economic credentials but just ain't woke enough to lie.

@Truth-And-Freedom

10 ай бұрын

It's not complex at all........ Just stop immigration.... Would be enough homes without the 10 million immigrants in last 20 years

@RichRobinson

10 ай бұрын

Antiquated. It’s all nonsense.

Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I began !nvesting in stocks and Defi earlier this year and it is the best choice I've ever made. My portfolio is rounding up to almost a million from an initial 90k and I have realized that when a stock makes it to the news, chances are you’re quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, maximize it.

@RahmaHamed737

10 ай бұрын

What opportunities are there in the market and how do I profit from it?

@BrettGregory299

10 ай бұрын

@@RahmaHamed737 You can make a lot of money from the market regardless of whether it strengthens or crashes. The key is to be well positioned

@RahmaHamed737

10 ай бұрын

@@BrettGregory299 I will really like to know how this actually work

@BrettGregory299

10 ай бұрын

@@RahmaHamed737 All you need is a good capital and the service of a professional broker, with those your investment will most certainly produce high yields.

@RahmaHamed737

10 ай бұрын

@@BrettGregory299 Do you have an idea of any good broker I can start with?

We could start by refurbishing all the derelict/forgotten properties that already exist. On every high street above the shops are empty rooms. Some were originally accommodation for shop workers. Now locked up and forgotten. Other options are using non standard constructions like mobile homes. tiny housees, old industrial buildings. There is enough properties to house a large portion of the homeless, but governments are reluctant to do this because it would make both house prices and rents fall to more reasonable levels. At the moment we have a two tier system of the haves and have nots. The final solution is to restrict immigration. Over 200 people a day land on these shores. They all need housing. Statistics say that only 10% of social housing is allocated to these people, but try saying that to the family who have waited 10 years to be housed, who see an immigrant family move in next door, an immigrant family who have only just arrived in this country with no money, no job and no right to be here. Start by refurbishing what already exists. Not only would it provide homes for the homeless, it could offer job training to the young unemployed who could learn a trade. Bring back the apprenticeships, stop wasting the next generation.

How about building more houses, stop people owning multiple properties and ban any foreign investors?

@johnross2924

10 ай бұрын

How about stop the imiggrant invasion!

@zuzanazuscinova5209

10 ай бұрын

Not a chance

@Tech-Corner2023

10 ай бұрын

I think every country should do this - no 'foreign' investment in the thing called 'shelter' - housing! Only people living there, resident, should be able to buy. And second home ownership should be made very unattractive, not a ludicrous profitable business, so that people do not use housing as a profit thing. Lands and residential places should not be sold to foreigners, who cannot verify, prove that they live/reside in that country and don't own multiple properties. Rental is fine too, but should be controlled.

@JR-rv3xr

10 ай бұрын

Fun Fact; The Ancient Greeks didn't allow non citizens (foreigner investos) from owning property. To own property was part of Citizenship

@cinpeace353

10 ай бұрын

Property prices will crash. Percentage of homeownership in UK is 63%. Think the government will take that risk of losing votes?

Overseas buyers shouldnt be able to buy luxury flats and then leave them empty 😢

@cdean2789

10 ай бұрын

Bring back squatting

@cliffsofmoher4220

10 ай бұрын

They can't do that anymore because of brexit.

@robertjones2053

10 ай бұрын

Well ask why they don't rent them out if being a landlord is " so easy and very profitable ". Clearly it makes more financial sense to leave empty then rent. Funny how the anti landlord brigade have no answer to that. 😂

@Mich6961

10 ай бұрын

@@robertjones2053 Two words: Money Laundering

@skymanifest8339

10 ай бұрын

Increasing the population by 10 million, mostly through our open borders, hasn't helped. Odd how you people on the Left keep ignoring that obvious facts.

I was very confused about why Amber had to sell her house. Here in California the interest rate and tax rate is fixed as soon as you sign off on the mortgage. It doesn’t change until you sell the home or die.

I love how they concentrate on everything BUT THE BANKS PROFITS INCREASING

Decrease immigration - demand goes down - prices go down. We're simply importing more people than we're building houses, whilst simultaneously putting more strain on our services.

@londonroad1653

10 ай бұрын

100% correct control legal immigration until have housing to provide accommodation

@ammiiel

10 ай бұрын

@@londonroad1653They cannot reduce legal immigration as its the immigrants who will be funding the public sector pay increase that Rishi just promised.

@etiennedelaunois1737

10 ай бұрын

Yeah genius! Except that we are also losing our most qualified because they are migrating as well. Especially doctors, nurses, engineers,... This country is just a pathetic business, not a real country.

@im_that_guy

10 ай бұрын

@@etiennedelaunois1737 I'm well and happy for them to bring in skilled workers on a visa. We need to start insentivising and training those who already live here. You know, looking after the native populace? Unless you're talking about all those doctors and engineers travelling here by dingys...

@compactcasette

10 ай бұрын

"Decreasing immigration"? How does a 200K pa increase in the population instead of a 600K pa increase improve the livelihood of the extant population? A population decrease is what's needed. Never going to happen if people are too ashamed to in their own interests

I moved to France seven years ago (couldn’t afford the UK) and locally rents are much lower than the UK to the point where the local housing association has 600 empty units.

@brandmanager4595

10 ай бұрын

I will be moving with my partner to Sweden next year. I have lived in London all my life, but now we can't afford it here. We're paying £2675 per month(including bills) for a two-bedroom flat. This means we won’t be able to save enough money to buy a flat in London.

@andrewsage113

10 ай бұрын

@@brandmanager4595 I’ve seen two bed flats locally for 265€ a month.

@Daddy-do8bn

10 ай бұрын

​@@andrewsage113where?

@Daddy-do8bn

10 ай бұрын

​@@brandmanager4595Are you moving for work?

@stevo728822

10 ай бұрын

@@brandmanager4595 You can always move out of London.

The housing system is a mess from almost every angle. I am somewhat lucky to be able to own a flat in london but the leasehold system makes me feel more like a renter and not a homeowner. It comes with its share of problems.

I used to work in the UK in the construction industry in 2012, and it is very wasteful, I used to throw away entire boxed of unboxed carpet, bricks, double glazed windows (they were not the right size - probably intentionally, for an entire 4 story building!!) , packs of screws etc This doesn't happen anywhere else in Europe, in Spain, France, Italy, Germany etc where I worked. Clearly they want to keep the costs high by any means.

@garnhamr

9 ай бұрын

boxes of carpet?

The renters are talking about a roof over their head but the landlords still thinking about their profit... 🤨

@SK-vg3mw

10 ай бұрын

Why don’t you become a landlord and put a roof over all our heads for free then ? To become a landlord you have to put at risk hefty amount of money and efforts, if there is no incentives, why anyone would be doing it ?

@Daniel31415

10 ай бұрын

@@SK-vg3mwfrankly, if no one did it, houses wouldn't be so damn expensive. People wouldn't need to rent

@bobjames6622

10 ай бұрын

Nothing to stop you getting a loan and becoming a landlord, if you do your research. So instead of whinging, put your money where your mouth is. No? Thought not!

@moominmay

10 ай бұрын

@@Daniel31415that makes no sense. There would just be more competition to buy houses then meaning it would be a sellers market and prices even higher. Also not everyone wants to commit to a specific location/property and want to be mobile whilst some have bad credit so would never be financially approved.

@Daniel31415

10 ай бұрын

@@moominmay maybe if we didn't have entire blocks of empty apartments being held as speculative assets by lazy capitalists we'd have a better match of supply versus demand

If Britain reelects the tories then it really does deserve everything it gets

@sueyourself5413

10 ай бұрын

*England

@frankoys2010

10 ай бұрын

So on point.

@samgrainger1554

10 ай бұрын

Amen

@TheharibokidXD

10 ай бұрын

@@sueyourself5413 westminster is taking us all down with it.

@andrewwalsh2755

10 ай бұрын

...or Zionist Labour... they're Worse than Tories...lies, deceit, dishonesty, personal greed, creeping fascism...

Mortgage payer who spend 22 years in the same property will of seen huge increase in equity with under 10 years remaining on the original mortgage problems arise when that equity built up is stripped out of the property to finance cars, kitchens, holidays etc , and an increase in mortgage rates occurs .

Moved in with my boyfriend as I couldn't afford rent only to find out that he is on fixed mortgage rate only for one more year. There is no escaping this problem. The government should build the houses and rent them for cheap until a person can afford to buy the properly. Also we need a cap on rent from private landlords.

It is not the current high interest rates that are the problem, it's the decade of artificially low interest rates before that enabled the rapid increase in the cost of houses.

@quackcement

10 ай бұрын

its the lack of supply which is the issue, a rise in interest rates isn't too much of an issue in the past when average homes were 4 times average income, but now they at 9-12 times average income, homes are very expensive in the first place and people need low interest. tory led record high net migration, people living longer and more people living along, means the uk population is ever increasing.

@andrewwalsh2755

10 ай бұрын

or... possibly... successive govts of past 40 years believing in Modern Monetary Theory... create money... loan it into the economy... sell off the debt to domestic and foreign investors... and repeat... not bothering to tax the loan back to pay off the original debt... allowing national debt to get bigger... and bigger... and bigger...

@andrewwalsh2755

10 ай бұрын

... not forgetting the uncontrolled immigration for 40 years...

@danunpronounceable8559

10 ай бұрын

Perhaps it's the massive demand on housing that's the real issue here.

@quillo2747

10 ай бұрын

And decades of mass immigration imigration spiking the demand for housing. 2022 alone had 600k net immigrants, thats a new city of people who all need to live somewhere

Canada has the same problem. We can simply copy what Austria has done which is building public housing and renting it to the citizens. The government then sets a competitive pricing to its buildings which curbs the private sector from setting prices as they desire. We can also build the houses and mortgage it to people instead of letting these monsters suck the blood out of people! Singapore and Malaysia are doing it and we can do it too.

@KiwiCatherineJemma

10 ай бұрын

New Zealand and Australia have the similar problems. Corporate and wealthy individual landlords are creamin' their jeans on the Tax Benefits they receive, meanwhile others struggle to afford to rent or buy, even the cheapest most basic homes. Meanwhile there's a multi-year waiting list, ever growing, for those needing government/state/social housing. Australia also has a massive shortage of land, for residential housing. Now if we take it as fact that Australia, with the lowest population per land area on Earth (excluding Antarctica) Does not actually have a shortage of land at all, then methinks the system is seriously corrupt and broken. How about we remove the profit motive and make houses be for housing humans, and NOT for corporations, and already wealthy individuals, to use as a "Tax Effective Investment VeHicle" ! (and yes the "H" is capitalised).

@bobbab5759

10 ай бұрын

US has a similar problem. Not so much the mold and substandard stuff, but the lack of inventory in both the home and rental markets. Regions that were cheaper became "zoom towns" as well so locals have a hard time with that.

@thecrimsondragon9744

10 ай бұрын

First, we need to purge our government of all corrupt politicians who have put us in this situation in the first place. These politicians are in bed with the corporates and we all know it.

@blop-a-blop9419

10 ай бұрын

the main problem against this kind of solution, is not its logic, it's getting called a 'socialist' or a 'communist'.

The problem in the United Kingdom is that billionaires from all over the world launder money there by buying property. So there is nothing left for the young British or foreign people who live there! I lived in the UK for 15 years and had a miserable life, always sharing houses with strangers! Today I live in the countryside of Sweden and have an infinitely better standard of living, even though I face worse weather and higher taxes than in the United Kingdom. If I were a young British man I would immigrate to Australia, Canada or New Zealand and make my life in one of those countries. The United Kingdom is completely dominated by billionaires from the Middle East, India, Pakistan and Russia. Try to find out the origins of the majority of property owners in the United Kingdom and everything will become very clear and evident!

I was on rightmove earlier, and a back to back, side to side terraced house cost nearly a thousand pounds a month to rent. Two places down from that was a barn conversion for £1,500 a month, with 3 bedrooms and 2 bathrooms, rural location near beautiful famous market town.. isn't it time to see some fair rent measures. You wonder what planet some of these landlords are on

@robertjones2053

10 ай бұрын

But that is market factors. The rural house is in a less attractive area as poor transport links and might be more expensive to heat etc. 1k a month for a house is cheap given its 1k in interest on a 165k mortgage. How much is the house worth? All fair Rents do is make landlords keep houses empty as even now the profit is in price rises and not rental income.

@TheWitchInTheWoods

10 ай бұрын

@@robertjones2053 The rural house is off grid above Hebden Bridge.. no it's a castle!. The relative value of these two properties is obviously not comparable in any way, except in a landlord's greedy, twisted mind. Believe me I have looked at the market, and round here £1500 a month is the price of a large character cottage / large house with land.. so who are these people to try to push the market up so their two bed terrace is worth almost as much.. they are just crazy

@TheWitchInTheWoods

10 ай бұрын

@@robertjones2053 The house prices are about £65,000/ £75,000.(That's Todmorden).. it's a terrace after all.. the payment on that is about £450 a month

@jamesmash3927

10 ай бұрын

@@TheWitchInTheWoods If you tried in Burnley or Halifax I'm sure you could find a house for rent for 500 or less a month. maybe not as nice as Todmorden but more affordable because of it.

@robertjones2053

10 ай бұрын

@@TheWitchInTheWoods because the rural house is off grid and is under value. You cannot compare the 2 you just said that. Given the value of the rural house the rent will be less than the mortgage. 🤡 Demand drives rent too not just the value if the house. You have to realise that or you truelly are a bit thick. ??

HOMES SHOULD NOT BE A BUSINESS

@Alan-gx8gf

10 ай бұрын

Well you could always become a Landlord ?

@Captain_Shorts.

10 ай бұрын

@@Alan-gx8gf I could actually. And really we can't be mad for people making money off everything even though I am. Because really it comes down to how Liberal should capitalism be. Capitalism it seems has an expiry date.

@slothsarecool

10 ай бұрын

go live in a soviet block then 😅

@alexdiaconu7979

10 ай бұрын

It doesn’t seem that. These “debates” have always been around

@kerbyy_

10 ай бұрын

@@pm3302 Even Adam Smith spoke out against landlords Shame those who worship capitalism no matter what seem to have forgotten about him unless it's convenient

My heart breaks for Britain.

Thank you, Chanel 4, for discussing this issue.

Its near impossible to save for a deposit and pay rent on a place without A) buying with someone else, B) receiving money from family.

@karl_edem

10 ай бұрын

Why should you be able to afford a property alone?

@sallybutler1005

10 ай бұрын

Why shouldn't you? If you work !!

@psps2034

10 ай бұрын

@@karl_edem because if you have a full time job , it’s totally reasonable to be able to expect to own property even in the cheapest parts of the country . You cant save for a deposit if rent takes half of your income. Mortgage is almost always cheaper than rent so most people CAN afford a mortgage- they just can’t save up for a deposit .

@jaymanilla289

10 ай бұрын

inheritance tax needs to be abolished as well.

@HorusHerotic

10 ай бұрын

Reduce demand. Prices will fall.

It's astonishing that the U.K. doesn't have 30 year fixed rate mortgages!

@frankoys2010

10 ай бұрын

Gullibility. That’s why.

@chrissilver7719

10 ай бұрын

Yes ! I saw a post about this a few weeks back from someone from Belgium and they were astonished that higher interest rates was affecting home owners with established mortgages.

@WaveRider1989

10 ай бұрын

​@chrissilver7719 same in US. Gouging has been booming due to fixed low interest rate. In US even current mortgage owners can refinance to a lower rate when rate is lower.

@robertjones2053

10 ай бұрын

They have 15 year ones ?

@Rukukachoo

10 ай бұрын

Even Canada doesn't have 30 year fixed rate mortgages sadly

4:33 If you've been in your home for 22 years why are you a forced seller? Shouldn't the mortgage already be virtually paid off? Shouldn't the repayments be based off cheaper 2001 house prices?

Can someone explain to me how the first "average UK family lady" (single mom...) have been living in the house for 22 years and still have so much mortgage that the recent raised bumped it up by £400 per month? Either capping or she made some very bad financial decisions.

Things are never going to change and if they do it will be for the rich and at the poor's expense.

@bob1234881

10 ай бұрын

It won't change if we don't build more houses...

@abdullahx8118

10 ай бұрын

@@bob1234881 god i hate nimbys so fucking much

@ChrisKeziahHyde

10 ай бұрын

@@bob1234881 good luck trying to persuade a corrupt government to legislate more affordable housing. Even if there were a change in government, Labour wouldn't do anything to change the status quo.

@skymanifest8339

10 ай бұрын

​@@bob1234881You can build as many as you want, but the supply side is meaningless if you keep adding more people to the population. One million people settled here last year. For a nation this small that's absolute lunacy.

@mkadi70

10 ай бұрын

It is not rich vs poor..it is the top 10% vs everyone else

Can someone explain to me how someone who has had a family home for over 20 years loses it due to their mortgage payments increasing. Over 20 years the price of the house would have increased a lot and a very large amount of the mortgage would have been paid off. The fact her payments have increased so much suggests she still has a very big mortgage which means she must have remortgaged the property when its value increased and spent all of that extra money (most likely over £100k). And is now stuck with a mortgage she cannot afford however if she did not remortgage and somehow spend all the money she should have an extremely small mortgage

@benghiskahn3673

10 ай бұрын

Some people make really really dumb choices. They simply cannot see or just ignore the future consequences of short-term gratification.

@davidr7819

10 ай бұрын

I was thinking the same. I have had a mortgage since 2002. The rate has gone up recently but still hasn’t reached the level I was paying back then…

@andrewroberts8959

10 ай бұрын

She said she "did work" to the house, so presumably she had an extension done. This is a normal thing lots of people do if they believe they can afford it - and the bank will have believed she could afford it when they gave her the money. I doubt what she did was "really dumb", she was unlucky with the changes in the economy and the fiscal decisions the government made.

@kat284

10 ай бұрын

@@andrewroberts8959an extension costs 30k, over 20 years she would’ve put down 75% if not more of her mortgage so her saying that mortgage went up by 400 a month says she made stupid decisions and has a full mortgage STILL. How does someone manage to no pay off most of her mortgage within 20 years is beyond me. It takes skill to waste money like that.

@zuzanazuscinova5209

10 ай бұрын

​@@kat284Agree

Damp & mould is often because people are drying clothes without a tumbledryer and they only have the heating on like 2 hours per day

I am Italian, lived 5 years in Germany, travelled all around europe...I have never seen a situation so horrenduos like in the UK. Luckily enough, I will be soon leaving this damp hole...

“Should it be a business?” EXCELLENT QUESTION.

@Billy-The-Goat

10 ай бұрын

why should it not be? I dont what to run a chairty. Would you?

I know a ton of people who are literally deciding not to have children because of the cost of housing, i actually think we're in for a population collapse in the near future. I am also one of those people. I'm 39, so by the time houses get built i won't be having kids.

@englishpete22

10 ай бұрын

I 100% agree, am the same

@benghiskahn3673

10 ай бұрын

We are 100% going to have a population collapse. It will come straight after the baby boomer generation dies out. The UK is sleep walking into a horrifying series of demographic crises over the next 40 - 50 years and nobody in a position of power seems to be even thinking or acknowledging it. We already have a health and social care crisis but this is just the start. It is only going to get worse and worse and worse. Public debt interest will rise, productivity will fall and the state pension age will be pushed back further and further as the state purse collapses and finds itself utterly incapable of paying for social security liabilities. The younger generations are utterly screwed. UTTERLY.

@quillo2747

10 ай бұрын

Don't worry, they will just let in more immigrants. Like the 600k net in 2022 alone. When a city the size of Liverpool gets added to your population in a single year, its no wonder there aren't enough houses

@dolphin069

10 ай бұрын

Leave. Greener pastures. The U.K. is done for the next two or three decades.

@garnhamr

10 ай бұрын

@@benghiskahn3673 utterly butterly

How about filling Open Corporate Office blocks into apartments…all water and lights are already installed…🤷🏼‍♀️⁉️

Anything over 5 times your income is " unaffordable" the generation who had it good and bought between the 70s-90s can't even begin to understand . Them going on about high interest rates back in their day is completely different as houses /flats were 3 times their salary

3 weeks ago I had to move 142 miles to a city that was cheaper to live in, the city I left the rental prices are just criminal.

@bigbarry8343

10 ай бұрын

And people like you priced locals out of the market ... so sad.

@InputArchive

10 ай бұрын

You can't really blame him, it's a vicious cycle. I'm in the position of - do I move where there's cheaper houses and a chance of buying but less and lower paid jobs or do I stay where I am in a pretty good paying job and accept I can never own a home around here? So many young people in the same situations, it's all fundamentally broken

@elliotspencer2648

10 ай бұрын

@@bigbarry8343 you got it totally wrong!. I now live in a cheap small room in a shared flat in a bit of a run down area. Plenty of cheap rooms to rent around here!!.

@yowhaatsup

10 ай бұрын

@@elliotspencer2648 how old are you

@elliotspencer2648

10 ай бұрын

@@yowhaatsup I'm 55.

For years mortgage holders and homeowners were NIMBYs and refused any social housing being built near them, mostly to inflate their house prices. Now that there's a housing shortage the country can't ignore anymore they're all at risk of losing their homes. It's actually beautiful poetic justice if you ask me. Its just a shame newer buyers who weren't NIMBYs are being caught in the crossfire.

@duderock10111

10 ай бұрын

Only 25% of Homes currently have a Mortgage against them, and of that 25% the vast majority are FTBs. The people you are talking about aren't FTBs, but Boomers who hold existing Property and don't want new ones nearby. Boomers, the vast majority of the time, do NOT have mortgages. They brought their house at record low rates. They are NOT at risk of losing their homes. It's the people who had to buy during record high prices.

@woody00011

10 ай бұрын

Exactly. There are plenty of people that knew full well they'd overlevereged themselves to buy as high up as possible so they can benefit from rising prices specifically because if this being the established cultural behavior. Low and behold rates go up and they all instantly are in the line of fire. Unfortunately, because this is such a norm, everyday people are in the exact same scenario of being recommended to buy as expensive as they can afford despite the red flag of our short term fixes. I have absolutely no sympathy for landlords profiting from and creating this ecosystem. Sadly though we can only escape by letting rate rises make the system correct itself, and this means average people suffering as well as and probably more than landlords. 'Bailing out' home owners literally kicks the can down the road, will keep house prices spiralling and means it'll be a worse problem next time. Labour likely wouldn't do anything here either, but at least they'd work on addressing the root causes such as things like buy to let morgages and actually building affordable housing. Honestly isn't the banks fault, but they are making themselves look guilty by taking advantage of the situation. Main thing they're doing wrong is not putting savings rates up which impacts inflation rather than morgage rates.

@JoshuaHill182

10 ай бұрын

@@duderock10111 agreed, its actually insane, so in 1978 when my dad turned 18, he earnt 12k in his first year of work, because he lived at home, he literally brought he first house outright for 9k. that house is now worth 350k. and im currently in my 5th year of full time work in a career which required a maths degree, but i only earn 30k. its actually insane how badly the boomers messed literally eveything up. My dads house should now cost around 26k. its well over 12 times higher!

@chriswatson1698

10 ай бұрын

Why should UK citizens have to alter their lives for the sake of invading foreigners?

@chriswatson1698

10 ай бұрын

I am a proud #NIMBY... I will defiantly stand up to the parasitic greed motivated #property interests seeking to endlessly densify my living space or bulldoze our green spaces for profit. There's no shame in defending your patch from these exploiters of our people and land.

Nobody takes any notice of course but there are some relatively easy way to fix this, they just do not suit the Tories, the developers and speculative landlords etc. People will generally want to live where they can find a decent job (although that is gradually changing now with more remote working), so the government could reduce taxes on firms that moved to cheaper/more available housing areas while increasing them on firms that stayed in high demand housing areas. Further, people living in high salary areas could be taxed more and those that lived in low salary areas vice versa. Furthermore, not in the bigger urban areas but in towns of 100-200,000 people there is plenty of public or quasi public land which is un or under used. Access could be made to that for housing associations or community groups to build on such land with a few tweeks to our appalling planning system.

It deeply frustrates me how everyone talks about lowering mortgage rates. The houses in the UK are astronomically above what they should be. Somthing happened around 1997, i just cant migrate to the issue.

@jamesmc1272

9 ай бұрын

Yep blair opened the doors to 10million people.

Landlords moan because they are "losing" money on their THIRD property while most people can barely afford a roof over their head. Listen: Housing is a human right!

@MRW515

10 ай бұрын

Landlords provide housing

@danunpronounceable8559

10 ай бұрын

What does "housing is a human right" mean? Does it mean that housing should be free? In which case you're arguing for the state to control all housing, thereby making property ownership illegal.

@garytaylor6382

10 ай бұрын

​@MRW515 people seem to blame the wrong side ,uncontrolled immigration not even mentioned here its ridiculous frankly ,and ridiculous low interest rates recently from bank of England had just rocketed prices

@del4668

10 ай бұрын

@@danunpronounceable8559 free 4 bed detached houses in the leafy suburbs for all ☺

@keycuz

10 ай бұрын

The only right a human has is silence. If a caveman turned up today, everything he knows how to survive is illegal.

Really shows where were at. The young are talking about getting a simple roof over their heads, whilst landlords are complaining that tennants can't take the full hit on THEIR OWN INVESTMENT.

It's not broken, it's corrupt. This is exactly how they want it.

I feel for you folks over the pond here in US it's pretty bleak too. Constantly trying to fight for a pittance while everything continually gets more expensive.

@michaelmarron8441

10 ай бұрын

It is ridiculous that a person can work 40 hours per week yet still struggle to afford somewhere to call home

@chrisaycock5965

10 ай бұрын

@@michaelmarron8441 I live in SF bay there are literally people who work full time and are homeless.

The mortgage increase is on top of the energy increases and inflation while wages have not grown. So its not surprising families are struggling as they have faced one crisis after another.

@caravanstuff2827

10 ай бұрын

Agreed...the government need to take the raising of interest rates off the bank of England and make it contingent on a two third majority vote of Parliament...that way we will have someone to punish at election time for MPs inflicting this pain and hardship on the voters...we can't be punished for inflation pressure that are coursed by factors out side the country and aren't driven by wage demands!!.❤️🇬🇧

@dougwhiley4028

10 ай бұрын

We're heading for Dickensian poverty.

@caravanstuff2827

10 ай бұрын

@@dougwhiley4028 yes... riots and looting of super markets for food isn't off the table at this point...Liz truss tried to give some financial help to welfare recipients and the working poor but the financial markets and the MSM got rid of her!!.🤔

@izdatsumcp

10 ай бұрын

@@caravanstuff2827 No, the BoE needs to be fucking nuked. I don't care if it takes out half of London, it should still happen.

@erdevon3257

10 ай бұрын

​@@dougwhiley4028Agreed but will be even worse this time as the population is so big

Look..... I live in Blackpool. Over previous years there have been lots of planning permission given for new homes to be built across the Fylde Coast. The problem here is the developers, they are building mainly large detached properties on these sites with a £500k price tag. That's not affordable housing. This area average house prices are around £100k-£140k. The developers should not be allowed to build these types of properties on released greenbelt land.

If you go to a Chanel store and look at the handbag prices, would you say there was a handbag crisis? Only the houses that people really want are unaffordable, plenty of cheap houses about

I would not be buying a house yet, they have a lot more to fall, as a landlord i am selling up, one has already gone but the others may have to wait a while as i want to work with my tenants instead of giving them a S21, i understand the prices may drop a little more but they have been with me a while now and i know for them to find something else will be difficult. This total mess has been down to the govt targeting landlords and not providing social housing to take up the slack when we evict and sell.

There's a lack of housing because the government allows foreign billionaires, millionaires, and corporations to 'buy' multiple properties and let them sit there gathering investment value - that investment value growing partially because of property scarcity! I live some miles outside one of the most poverty-stricken towns in Britain, and many of the flats above the town centre are unoccupied, have never been occupied in all the time I've lived in this county. They belong to various corporations. I live next to a farm field that went up for sale two years ago. One of the bidders was a pension trust - from America! Stop selling to foreign concerns, who wouldn't buy a hovel in South America (because it's not a sound investment) but only open their wallets when something comes up in Britain (because they have forced that situation), outbidding the people who were born here, live here, work here, would like to raise a family here if only they could afford to. The rate we're going, we're going to end up exactly like America, with a large number of people working full time for a decent wage - but living in tents, cars, motorhomes, ruins, or squatting in any unoccupied building they can break into. It's insane that we have so many fancy looking but largely empty apartments in and around London in the hands of investors - when people are paying crazy money to live in a damp, mouldy, unhealthy room.

@anyexpat

10 ай бұрын

Sure because buying 5 Million pound properties really hurts first time buyers.

@salmanuddin9018

6 ай бұрын

@@anyexpat Those 5 million pound properties exist because of a demand from foreign billionaires and corporations , corporations are not buying detached houses in the country side they are buying properties in the city centre which could otherwise be separated into compartments and used for housing, although those corporations are bringing in fiscal dividends through corporate tax.

@pobinr

4 ай бұрын

Stop building. Stop destroying our countryside. Start controlling immigration. The biggest issue is mass immigration It's not a housing crisis. It's an immigration crisis. Legal net migration 745,000 last last year =6230 new homes needed every week mostly squashed into England😮 Not rocket science Is it? 🤔 Infant school maths. Connect the dots for Gods sake You all keep voting LibLabCon pro mass immigration parties. Then moan about house prices & rents🙄 8:28

The solution is to destroy the value of housing as an investment. All other measures will be a waste of time.

@andrewwalsh2755

10 ай бұрын

The problem was to import far too many people... to boost growth...for a quick gdp fix... The (painful) solution is for the UK to work towards becoming self sufficient... meaning far fewer people... and govts serving the interests of people, not rogue business investors...

@milesinnz

10 ай бұрын

@@andrewwalsh2755 100% correct.. but amazing how this debate is NEVER aired... so the bigger question is why this is not debated ? I would also add there is a difference between standard of living and quality of life... everyone wants a new car that can do a 130 mph but spend all the time in traffic jams...

@patrickdoyle9304

10 ай бұрын

Exactly. If you want to buy a house you have to fucking live in it.

@hughesy606

10 ай бұрын

Typical communist- everyone should be equally poor

@josephyates9936

10 ай бұрын

@@patrickdoyle9304 Yes exactly - restrict home ownership to one home per adult person or per family household.

House price need to fall by at least 40%.

In Brazil, you can buy property by borrowing money from state banks, guaranteed by the government, with a fixed rate which actually goes down month by month, over a period of time from 8 to 25 years. Its been working very well for decades. The funding is achieved by a small monthly discount from workers earnings that is matched by employers. If a worker doesn't buy a house, the individual's contributions are returned on retirement, with interest.

Mortgage's should of never become so cheap.. It just fuelled properly gambling. 8x property to income ratios is ridiculous

The hard reality is that it’s not going to be solved for us (Millennials) or even Gen Z. However, if we started to change things now, Generation Alpha might see opportunities in their lives.

@aceman0000099

10 ай бұрын

In 20 years millennials will have inherited the boomers homes.

@johansjournal

10 ай бұрын

they will b e moving back to india pakistan and africa tho

@MintyJazz3

10 ай бұрын

Gen alpha are already f***ed up. They are on tablets from the moment they were born, no chance of hope for them let's focus on millennial and gen z first.

We all know housing prices will come down and thus rent will too. However i have a major issue with the government allowing people to rent out 2+ properties at far more than a mortgage monthly cost. Also some landlords need to lose their houses looking at the state of them. If im renting a house for 500 to 1500 a month, i want it to be damp free and if any issues arise they need to be sorted same day. If not there should be large penalties for the landlord.

The reason why rents are going up is for tax avoidance. 20% interest tax allowance for rental income. Hence if interest rates increase the only way to absorb more of this is to raise rents. If your monthly rental income is 1,000 your annual is 12,000 (1,000 x 12) with an interest allowance of 20% is 2,400. At 2% interest rate this equates to 120,000 loan on simple terms. Now that interest rates have risen to 5% the annual interest 5,000 which means an additional 2,600 pounds to absorb. The only way to absorb this is to increase rents. Thank the UK government for changing 100% interest tax deduction to 20% interest tax allowance.

As usual a "big debate" but nothing happens...!

@j.harrison6744

10 ай бұрын

Yes, and the actual cause of the crisis (immigration) gets ignored.

my brother got almost 60% increase. he paid 1050 £ per month, and the new price was 1650 £ per month. add Council 200 £ and energy bills, and you easily have to pay 2000 £ i don't know what to say.. just shocking.. in uk now you must work all day just not to be homeless . don't even think of anything else.

To think Gadafi had a housing policy that promoted a house for everyone as a basic human right .

@MusehanaH

10 ай бұрын

....then they killed him

@Dehydratedpencil

10 ай бұрын

Housing being a human right means I can hold a gun to a builder's head and force him to build a house for me. Housing isn't a human right because it relies on someone else's labour.

@cata112233

10 ай бұрын

@@Dehydratedpencil Nice logical fallacy mate. That's not how this works and it shows how intellectually dishonest you are. Housing being a human right means that everyone can contribute to a shared fund to pay people to build enough houses for everyone, rather than have for-profit housing where only people who win are the investors who already have millions and it happens at the cost of everyone else.

@Dehydratedpencil

10 ай бұрын

@@cata112233 Surely my right to keep what I earn trumps your "right" to steal money from me to fund the building of new houses? Also, if we completely abolished all housing regulations it would mean you no longer need to spend hundreds of thousands on a house, you could buy half an acre of land and build a cabin all for under 50 grand. But of course the State does not like property rights.

@cata112233

10 ай бұрын

@@Dehydratedpencil do you even have any arguments that aren't ideologically driven and instead rely on logic or facts? Or are you parroting right wing talking points because that's the best you can do? No one is stealing anything. You're contributing to the well-being of the society you take part in. Also I don't know how you earn whatever you're earning but if you are for example a CEO, very strong arguments can be made that other people are earning the money from you and hence you're basically stealing from the workers. Now come up with a real argument because you sound like a child

Property isn’t an investment, it’s a basic human right like education & healthcare. Buy to Let’s should be banned altogether.

- long term fixed rate mortgage of 20-30 years would be a good idea. Stable, houses are not supposed to be a way for people to just make money from you, its a place to live and tbh should be a right. - more friendly environments for businesses, meaning better education for business, a better culture in the uk towards local businesses (the UK people have a real problem as most have no clue about business and just see business owners are greedy and using them for their labour). If more people invest in business rather than property and build more jobs, then there will be more jobs for the people in the country. - actual affordable housing, most so called affordable housing are anything but affordable. - build more social housing. The lack of homes for people means that there are too many people chasing private housing, both for rental and buying. What it means is the price of houses continues to fly up.

The Only reason for this housing crisis is - The people who are rich and owns property in UK - they don’t want the government to make more homes as it will decrease the their Income from rent and such people; they are in government too.. And the common man ; they are silent and ignoring this matter !

@aceman0000099

10 ай бұрын

Yeah, because these rich people "earn" all of their money from increasing property values unfortunately meaning that they will do anything to keep house prices high, including lowering the housing supply, increasing the population, lowering wages to prevent commoners from affording their own homes.. etc

@jakkuwolfinsomnia8058

10 ай бұрын

Wrong, if more properties were on the market they could buy more and make more money and it would mean they own less market share so they’re not pressured to give up their current properties so it’s actually against landlord’s best interests to oppose more house building

@edjohnson8017

10 ай бұрын

Yeah nothing to do with ten million migrants in 25 years huh

@denzel270

10 ай бұрын

conspiracy, conspiracy.

@DC3Refom

10 ай бұрын

​@@edjohnson8017 exactly need to close our orders and curb immigration and kick those economic sponging boat people back to france or into the Atlantic.

The housing crisis is a profit bonanza for property owners. THAT is why.

@SReads-dh4rr

10 ай бұрын

and rishi sunak designed it for the rich to win by removing stamp duty- no more tax burden for a very nice method of getting ROI.

@Billywoo12

10 ай бұрын

This is global issues, almost identically applied. From Munich, to Manchester to Montreal. This isn’t a UK, or a UK government issues specifically.

@goych

10 ай бұрын

You won’t hear from a landlord with 20 properties complaining, well actually….

FRB (Fractional Reserve Banking - letting banks lend more than they own) is only allowed because it increases enterprise and production. But there is nothing productive about land. It is entirely non-manmade. It is never created or destroyed. So why on earth do we allow FRB mortgages for purchase of land? That's what is inflating property prices.

The Landlord- “But we brought them at 3% and now it’s not it’s a 100% increase in the cost”. I can’t, that guy is literally saying he used his superior relationship with the banks to buy with an ultra low deposit possibly using just equity and based his “business” on the extremely low and unsustainable interest rates. So he and other landlords bought up big before, keeping homeowners out of the market and now they are crying poor, shafting renters with the outcome of there unsustainable and risky strategy. These yahoos clearly need to be regulated more, if a homeowner needs to be assessed by the bank on 7% when the interest rate is only 2% then investors need to be assessed on the current rental income being able to pay at 7%. If that means that some investors can’t invest because they don’t have enough cash then good they could never afford it in the first place.

As a home owner myself I have absolutely no sympathy for other property owners who try to make a "business" out of living off the backs of other people. If you can make money from that "business" and treat your tenants fairly then great but if you can't then you have no business being a "landlord" because effectively what you are doing is treating your tenants like medieval serfs. To the "business owner" with 3 interest only mortgages, who's fault is that? You would have been better off financially if you had just worked hard and paid off one mortgage first instead of being greedy and taking on more debt while assuming that interest rates would remain low forever and that the serfs would pay it all off for you. If you make a bad bet on the markets then you need to wear it, that's how free markets work.

@joprocter4573

10 ай бұрын

Two way business renter often dirty and leave home fiflthy

@garytaylor6382

10 ай бұрын

LAndlords have loans too ,if the rent doesn't cover the costs rents go up.of they sell as now

@John-qz8fq

10 ай бұрын

@@joprocter4573 That's why renters pay deposits to cover those possible outcomes. Try again.

@joprocter4573

10 ай бұрын

@@John-qz8fq not enough for damage in many cases

@John-qz8fq

10 ай бұрын

@@joprocter4573 That's why landlords can inspect properties during a tenancy. Try again.

longer montage period with higher rate won't help. Now is 5~6%...if we take 10 years, what will the rate be?

In my town they are squeezing in tiny little flats in any urban, working class area, whilst the leafy suburbs remain untouched.

The only possibly sane argument behind the interest rises is to force house prices down as someone has suddenly realised that the rate at which house prices were going up is PROBLEMATIC. They had to seize the opportunity of using inflation as an excuse (the kind of inflation we see would have dropped naturally as the causes behind it, covid, energy prices, faded), House prices has to DROP to more sane levels across board in the UK but using interest rate as a blunt economic instrument is not wise as it inflicts unnecessary pain on everything and everyone. After careful thought I think the best way out is for the BOE to be honest as regards the reason behind the hikes. The government then need to boldly enact law/policy to freeze house prices at pre-covid levels for the next 5 to 10 years to allow rebalance and stop houses from being treated as a primary investment cash cow.

@JJ-mo3ec

10 ай бұрын

Spot on

@mdipltd7404

10 ай бұрын

"The government then need to boldly enact law/policy to freeze house prices at pre-covid levels for the next 5 to 10 years to allow rebalance and stop houses from being treated as a primary investment cash cow." And destroy/cripple the real estate industry for 5-10 yrs. Think about how many people you'd put out of work. Something has to change, ban ownership of more than 2 properties, not destroy an industry.

Two things happened in the UK in the 1990s, the financialization of both housing and education. A 1990s generation was so greedy that they took away the education privileges they enjoyed from subsequent generations and encouraged property asset inflation by discouraging social housing and selling the stock of existing social housing. To prevent the depreciation of their property values they also invited foreign entry with very few checks. Health was the only area spared financialization. You know why? Because it is a future levy mainly borne by the old, and the 1990s generation knew they could not avoid it.

@quillo2747

10 ай бұрын

Dont forget Blair opening the borders in the 90s. In 2022 net immigration was 600k, thats a new city of people in a single year who all need to live somewhere. Demand has gone through the roof and the demand increase is 100% because of mass immigration

@DirkPeterson-uh6uu

10 ай бұрын

Stop immigration. We are far too small to cater for 1.4 billion from subcontinent.

@izdatsumcp

10 ай бұрын

Wrong. You have the Town and Country Planning Act of 1947 which allowed councils to restrict the supply of building and you have the BoE which has lowered interest rates and increased the demand for housing. Low supply and high demand means what? That's right: HIGH prices. Both of these things are central planning communist bullcrap so don't try to blame financialisation and greed, you leftwing berk.

@izdatsumcp

10 ай бұрын

And social housing raises prices in the private sector because it obviously means lower private stock. Selling off social housing means more private stock means lower prices in the private sector.

@simpso0ns

10 ай бұрын

Iraq invasion made that happen

The lady who is having to sell is clearly doing something wrong. 22 years in her home, she should be almost mortgage free. She would surely owe a small amount now at this stage.

House prices are the elephant in the room. They. Must. Fall.

We need a new government

@SorminaESar

10 ай бұрын

I support it, good luck but it will be spending much money

@paulmessenger9836

10 ай бұрын

That will solve it

@andrewwalsh2755

10 ай бұрын

Do you think Zionist Labour are any better??? Personally, i think they're much, much, worse... The Tories aren't creeping fascists...

@nicky_nike

10 ай бұрын

what difference will that make? We need a new system

@squirrel-P998

10 ай бұрын

If the new government keeps doing the same things, nothing will change. Except for overhauling the entire system..

In Austria people are able to get a fixed mortgage for 10, 15 or even 25 years if they wanted to. I was also able to fix my mortgage for another 10 years just before the crisis without having any extra costs. So much better and fairer!!

@exp-eri-mental

10 ай бұрын

You have land and resources. We dont.

@kat284

10 ай бұрын

People need to find those mortgages as not many offer. Most just know what is the norm and don’t step outside of it. It’s stupid to remortgage every 5y, that’s just too quick of a turnaround. But the system has been created and it needs to be broken because it only benefits the rich

@goych

4 ай бұрын

@@exp-eri-mentalare you implying Austria has more land than the fucking uk!

@Whatt787

Ай бұрын

Same thing in US, 30 year mortgages even if you are 65 years old!

£1,400 to rent a 2 bedroom house in the South East, but minimum wage is £1,400 a month.

@goych

10 ай бұрын

Yes, it is a complete disaster

When people say mortgages increased my x100s what does this even mean tho in terms of how much they are paying? Because people who have been paying off mortgages for a long time have had the benefit of remortgaging multiple times and reducing payments quite low when compared to renters. So are they paying now what renters already pay constantly or even higher?

Someone mentioned the "i" word but did't elaborate on it. Which is a pity because that's the elephant in the room. If net migration outstrips new housing supply don't be surprised there's a lack of affordable housing. I think the only way to solve the housing shortage is to either build a dozen new towns or to significantly reduce net migration to the tens of thousands.

@brynhendry2899

10 ай бұрын

Problem isn't powerless people at the bottom, it's people at the top profiteering out of squeezing everyone below them.

@enochpowell27

10 ай бұрын

@@brynhendry2899 No one is blaming migrants. Blair predicted 13,000 would arrive following EU expansion in 2004 but it now transpires tens of million arrived. Lord Andrew Green said in 2004, at current levels of net migration the UK needs to build 5 cities the size of Birmingham (population 1 million) just to house migrants. Where are those new towns and cities? You can't import tens of millions of migrants without first having the infrastructure (housing, water supply, hospitals, schools etc) in place. For the Tories it was all about "growing the economy" and for Labour it was about "rubbing the rights noses in diversity". A disaster of epic proportions for the UK.

@andrewwalsh2755

10 ай бұрын

... You can't keep importing more people, no matter how much employers scream they need it. You can't keep on building homes either... if nothing else, when demand for water exceeds supply... its Game Over.

Renters and buyers alike have it extremely tough, what I can't understand is now if Amber has been in her house for 22 years, surely she is not still paying interest. Also a lot of the rental market was thrown into crisis when Thatcher had the ludicrous idea of selling off Council homes for peanuts. Over 3 million to be exact. The most inhumane act EVER.

@luckhurstrobert

9 ай бұрын

I thought that too, the house would have been bought when interest rates were around what they are now. How much capital can you have remaining after 22 years?

@tiiafrancesca8639

7 ай бұрын

i was thinking the same thing as most people take out a mortgage of 25-30 years so if you only have about 3 years left you must of been taking out loans against the house and are in arrears

'with great power comes great responsibility' did the Economist just quote Spiderman 😂?

The lady says, been in our house for 22 years… but why have you not paid it off almost completely in 22 years??

The problem is that BOTH parties stopped building council houses , the councils sold land to private companies to build houses on

@nameundefinedname5307

10 ай бұрын

this!!!!

@mick0905

10 ай бұрын

Anyone who's ever played musical chairs knows as chairs are taken away then the fight for the remaining chairs intensifies. If every landlord left the market it wouldn't create more homes.

@nameundefinedname5307

10 ай бұрын

@@mick0905 create more home no it wouldn't but it would enable more owner occupiers

@kayjami1996

10 ай бұрын

you say "both" as if they weren't/aren't easily bought out by corporate lobbyists

@andrewwalsh2755

10 ай бұрын

...to everybody who wanted to stay in the EU... with a right of free movement... who now cant find/afford somewhere to live... ... do you see what (some) Brexiteers were saying, now...