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Home Ownership


wolfie
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Homeownership is "in crisis" in the UK, with owner-occupation falling to its lowest level since 1988,

The owner-occupation rate peaked at 69.7% in the UK in 2002, falling to a current 64.7%. That rate is only the 17th highest among 27 EU countries, and lower than that of Bulgaria, Ireland, Italy and Romania.

There are now about 5 million households locked out of the property market as a result of housing shortages and high house prices. Having been forced into the rental market, sky-high rents mean they are unable to save the funds needed to get a foothold on the property ladder.

 

The chronic shortage of council housing and soaring rents are two of the key factors behind the housing crisis. Gideon Osborne’s answer to the problem is higher rents and less council houses.

 

The evil one will be turning in her grave.

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There has always been a proportion of the population, to whom home ownership has never been an affordable option; hence the need for (Council) social housing. Yes Maggie sold them off cheaply, thus reducing overall stock; and Bliar & Brown not only didn't fund the building of replacement units, but pressured Councils to quasi-privatise their stock into Trusts. With less social housing units, general demand increases and pressures price rises up the housing chain, affecting both rents and mortgages. So to counter this, the obvious solution is to build more social housing units, thus reducing demand generally and creating employment in the construction industry. Not exactly rocket science.

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Thatcher sold all the Council houses (that was one of her worst legacies) and Blair invited all of Europe to invade UK (That, apart from the fact that he is a war criminal) is the reason that we now have a social housing crisis.

 

Both stunts were fuelled by political self interest in my opinion, with Thatcher aiming to create a Tory in Labour heartlands with each council house buyer, while Blair and Nu Labour opened the door to mass immigration knowing the majority of them would, with an eye on the UK benefit system, vote Labour.

What swine politicians are!

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A very significant part of the fall in owner-occupation is due to people not being able to sell their homes for what they think they are worth but needing to move anyway. Many people are renting out their own properties and then renting themselves another which is either more suitable to them in terms of size or located where they need to move to. So they cease to be classed as owner-occupiers and become classed as living in rented property.

 

The total number of people who own a property has not fallen at all.

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A very significant part of the fall in owner-occupation is due to people not being able to sell their homes for what they think they are worth but needing to move anyway. Many people are renting out their own properties and then renting themselves another which is either more suitable to them in terms of size or located where they need to move to. So they cease to be classed as owner-occupiers and become classed as living in rented property.

 

The total number of people who own a property has not fallen at all.

That would account for an increase in the number of people renting but not account for the fall in ownership or socially rented.

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Check out the Land Registry website and read through some of their reports. You'll see that the total number of individuals who are property owners has hardly changed at all in the past 10 years.

 

There has been a fall in the number of owner occupiers but not in the number of property owners - the only explanation is people renting out their own homes and living elsewhere.

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Check out the Land Registry website and read through some of their reports. You'll see that the total number of individuals who are property owners has hardly changed at all in the past 10 years.

 

There has been a fall in the number of owner occupiers but not in the number of property owners - the only explanation is people renting out their own homes and living elsewhere.

 

Or many people owning multiple homes and renting them out? They would account for far more than the scenario you suggest

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A lot of people buy to let to make up shortfalls in pensions etc. I have had a pension since I was 18 but it will be worth bugger all after the charges and stuff they take off you. You have to find an alternative or end up at the mercy of the Government in your old age!!

 

I do know of someone who is really taking advantage of the buy to let scenario though. He owns 15 houses in and around Warrington and rents out rooms (up to 5 people in a house) and mainly to Eastern Europeans. It is worth a lot of money as you can imagine....

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A lot of people buy to let to make up shortfalls in pensions etc. I have had a pension since I was 18 but it will be worth bugger all after the charges and stuff they take off you. You have to find an alternative or end up at the mercy of the Government in your old age!!

 

I do know of someone who is really taking advantage of the buy to let scenario though. He owns 15 houses in and around Warrington and rents out rooms (up to 5 people in a house) and mainly to Eastern Europeans. It is worth a lot of money as you can imagine....

I never said it was wrong, it just explains the statistics in the OP. you have no need to explain yourself :D

This person you know with the properties, he sounds like a real Philanthropist, I guess he is a big proponent of the EU and immigration ???

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Or many people owning multiple homes and renting them out? They would account for far more than the scenario you suggest

 

No, that wouldn't account for the fact that just as many individuals own properties now as did ten years ago.

 

Mrs Inky works in property letting and the majority of her landlords now are people who have moved (often overseas for work reasons - which I suppose makes them "overseas owners") but have retained ownership of their homes here and are renting them out. In Warrington, private landlords with large portfolios of 10+ properties are actually quite rare.

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I don't think you can use Warrington as a measure for the whole Country.  If only the same amount of individuals now own properties as did so 10 years ago, who owns all the new houses and flats built in the last decade?

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