Grandad.Malky Posted May 21, 2011 Share Posted May 21, 2011 and those of us now who can't buy a house the same way... what are we to do? :s Having two sons I wish I had the answer to that one but blaming those that own their own houses isn’t going to help and accusing them of being “lucky” is amusing to say the least. Maybe schemes like part renting and part buying are the way to go, unfortunately with the current “I want it all and I want it know” mentality people aren’t willing to start at the bottom and work their way up any more. Link to comment Share on other sites More sharing options...
harvey19 Posted May 21, 2011 Share Posted May 21, 2011 I rent from a housing association who made record profits last year. So you could say my opinion is biased. However, I can buy the property I live in via RTB for the equivalent of about 5 years rent and sell it on at a massive profit or rent it out for even more. So its not that simple. Personally I want to see RTB banned, and rents fall, along with property prices. I'm more than happy to pay over the odds in rent over the course of my lifetime and the state (not a private HA with numerous highly paid managers and chiefs) retain ownership, letting the property to somebody else when I die. Everybody needs shelter. But people shouldn't be farmed by landlords for private profit at the expense of wider society. Many of the houses sold by the council had been paid for in rent which most people paid themselves in years gone by. Many buyers had paid rent for decades and could not afford to save up the deposit to buy an house whilst paying rent. Mortgages were not easy to get years ago, only the mans wages were taken into consideration and only about 2.5 times his annual salary was loaned plus a deposit was needed. Bought houses relieve the council of the admin costs of collecting rent, need to do repairs and modernisation. Also if a person needs to go into care in later life their estate is billed for this which includes the value of their home whereas a council tennant will have their care costs paid by benefits. All in all it was a smart move by the government to sell council houses and get rid of this responsibility to the councils. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted May 21, 2011 Share Posted May 21, 2011 . Mortgages were not easy to get years ago, only the mans wages were taken into consideration and only about 2.5 times his annual salary was loaned plus a deposit was needed. Not a lot of people know that or conveniently seem to forget it, I can remember even having to have collateral for my first car loan. . . All in all it was a smart move by the government to sell council houses and get rid of this responsibility to the councils. Smart or short sighted ? Link to comment Share on other sites More sharing options...
evildrneil Posted May 21, 2011 Share Posted May 21, 2011 Let us hope the Labour council will embark on a building programne to provide affordable housing and employment. Paid for with what? Link to comment Share on other sites More sharing options...
Grandad.Malky Posted May 21, 2011 Share Posted May 21, 2011 Paid for with what? The money from selling government bonds ……………. oops a different thread. Link to comment Share on other sites More sharing options...
Lucifer Posted May 21, 2011 Share Posted May 21, 2011 Not a lot of people know that or conveniently seem to forget it, I can remember even having to have collateral for my first car loan. . Smart or short sighted ? It gave people the choice of buy or rent, people could buy at a reduced market rate depending on their length of tenancy, people had to stay there vfor a number of years ( I can't remember how long ) before they could sell but it opened up the possibility for some people to move up market and move to another albeit better area. Link to comment Share on other sites More sharing options...
harvey19 Posted May 21, 2011 Share Posted May 21, 2011 Paid for with what? I am not an accountant for the council but if there is a will I am sure there is a way. House building provides employment therefore reducing benefit payments, employment brings more spending power to people therefore stimulating business, newer houses mean less repairs and modenisation. Charge affordable rents so people do not have to claim benefits and so reduce admin costs. Sell a percentage to pay for more building. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted May 21, 2011 Share Posted May 21, 2011 it opened up the possibility for some people to move up market and move to another albeit better area. At the same time denying another family a home isn’t that what this thread is about, the lack of affordable housing. Link to comment Share on other sites More sharing options...
sues_budgie Posted May 21, 2011 Share Posted May 21, 2011 People talk about doub figure interest rates back in the 1980s. However, which is worse? 1) 13% interest on a mortgage of £24,000 (the average house price back in 1984) or 2) 4% interest rate on a £170,000 mortgage Lets not also forget, back in the 1980s, there were still proper jobs (only just) such as mining, that apparently paid £400 a week. Not bad, when the avaerage home was £24,000 to buy Link to comment Share on other sites More sharing options...
Grandad.Malky Posted May 21, 2011 Share Posted May 21, 2011 Lets not also forget, back in the 1980s, there were still proper jobs (only just) such as mining, that apparently paid £400 a week. Not bad, when the avaerage home was £24,000 to buy My mortgage was £25,000 which at the time was huge, I had to have a %5 deposit and just met the building societies criteria of 2.5X wages so I must have been on about £10,000 a year ………… yep I was really lucky at the time. As for the Miners on £400 a week why would they want a mortgage when they would probably be living in a pit house, we were and I don’t seem to remember my dad splashing the cash. Link to comment Share on other sites More sharing options...
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