Lesson not learned -

[observer]

Just watched an interview with Mrs Balls, who was saying that the Banks should be encouraged to lend again, to revitalise the housing market - errm, isn't that how we got into the current mess - irresponsible lending? Fact is, that most folk simply can't afford, will never be able to afford to BUY their own home, and lenders shouldn't be lending to those who cannot realistically afford to repay the loan - much better if this Government started a programme of building social housing for rent and got off this obsession with home ownership, and started looking at housing as something that keeps you warm and dry, rather than a speculative financial venture.

[Bazj]

What socialist nonsense.... I bought my 1st house because I wanted to buy a house. I didn't want to rent a house, I wanted to buy a house to live in. Not everyone turns into some form of capitalist pig when they own a house you know Obs; It is the greedy buy to let people who have caused a lot of this problem by buying up all the cheap houses and flats as they come onto the market. Take the area around the hospital; Grafton street and the likes, there must be a massively high percentage in that area alone which are rented out to foreign nurses and doctors. Arpley street in town is another place which is probably almost all rented rather than owner occupied.

 

I have a few cousins who own a few properties around town and a few years ago they were telling me that property ownership was the way to make money in the future; thankfully I was right to buy just the one I live in and they are the ones facing having to pay for multiple mortgages as their tenants move out.

 

Mind you, if I could get ?12,000 a month for renting out a house like that foreign guy was getting from the Afghan woman on benefits; I may be tempted!

[Paul Kennedy]

much better if this Government started a programme of building social housing for rent

 

Don't think they have to build them Observer, there are plenty of recently built empty flats and houses.

[observer]

Errm, bit confused Baz, you called it "socialist nonesense" then went on to cite the speculative nature of home ownership with buy to let. There having the same problem in Oz just now, house prices were on average 3 times the national average wage, but are now 7 times the national average wage - result: huge surge in caravan ownership and renting, think they call it " housing of last resort". Same here, with the speculation that fuelled the surreal rise in house prices, a situation born out of greed not need. I've no problem with home ownership IF folk can afford it, problem is a large portion of lower paid folk simply can't afford it, and are thus prey to extortionate private sector rents in the manner you describe (thus a return to Rachmanism)- so common sense dictates the provision of cheap rented social housing - which in itself would reduce housing demand and thus price inflation in the private sector. As for "socialist nonesense"; it's interesting that Governments around the World have resorted to "socialist nonesense" in Nationalising the Banks in order to salvage the mayhem created by free market capitalism! Yes Paul, Councils (if Gov funded them) could buy up existing empty properties in there areas (at knock down prices) in order to provide social rented housing.

[Dizzy]

Obs... what is it about affordable rented housing you like so much as if memory serves me right you have already aired the very same points re affordable rented vs home ownership elsewhere on the forum.

 

Guess you'll still get the same answers

 

You are persistent though.... I'll give you that

[observer]

If some folk CAN'T afford to BUY property, their only recourse IS to rent. History shows us that private landordism tends, in general to be exploitative EG: Rachmanism in the 50's and NOW, we've got "rent back" firms setting up to buy out properties from folk who are having their homes reposessed, then renting them back at inflated rental rates. Far better for publicly supervised authorities to do the renting out - merely common sense for common fairness. For some strange reason, the US and UK have an obsession with ownership, with a ratio of 75% owned to 25% rented; not so our European cousins, where the ratio is reversed.

[Bazj]

For some strange reason, the US and UK have an obsession with ownership, with a ratio of 75% owned to 25% rented; not so our European cousins, where the ratio is reversed.

 

So? We are British.... not bloody French or Germans so get off the Euro nonsense and start thinking in terms that we over here like to buy. Why have lots of houses that some people own but other people live in? Why is it seen as so wrong to own the house you live in? Perhaps because the feckless and the free loaders can't afford one so we all have to stoop to their level?

 

Socialism in it finest incarnation!

[observer]

Whilst I appreciate that when's one's head is above water, one tends to have little sympathy for those that are drowning, and indeed may even blame them for not being able to swim! However, the fact is; that a sizable minority of folk in our society have never and will never be able to afford to buy their own home, so in a civilized society, where one wishes to avoid tripping over folk sleeping in the streets, there has been a recourse to the provision of public social housing - a fairly logical development methinks, unfortunately not something any Government since Reaganomics and Thatcherism came into vogue that has been on the political agenda - alas with the now evident failiure of their "I'm all right jack, and begger my neighbour" doctrine; attitudes may change. Hopefully, the notion that a home is an investment, rather than something to provide warmth and shelter, has now taken a knock.