Moosey Posted October 22, 2012 Share Posted October 22, 2012 I agree, I even provided a link that proves it. I was just wondering at the poster who could afford a house as a part time life guard but not as a full time teacher... A full time teacher could afford an average terrace in Sheffield even at the 2007 peak of the market. I'd say so - I sold that one at £100k - teachers earn (or my friend who's a teacher earns) about £27k, so save the deposit and I'd say so. Link to comment Share on other sites More sharing options...
Shef_Fitness Posted October 22, 2012 Share Posted October 22, 2012 http://www.home.co.uk/guides/house_prices_report.htm?location=sheffield&all=1 The average sale price of a terraced house in Sheffield went from £47k to about £120k in the period you're talking about. I'd think that your pay as a part time life guard (minimum wage?) to a full time teacher went up by more than 2.5 times though? Maybe not though, I guess it depends on what part time meant... And maybe life guards are paid more than I thought. In the late 1990s, the min wage was £3.60 an hour, and our flat wage was around £5.10 an hour. We also had time and half for working Saturday, plus double time on Sunday. This was done away with just before I left (in 2002) with full backing of the unions, so on Sunday we got £10,20 an hour. The problem was the rate at which the house prices shot up. Within about 5 years at its peak, propertys near me were selling for 90k which was absolutely stupid. One of my friends bought a Terrace in Lower Walkley for 16k in 1995, and it was sold in 2007 for 145k. If you can imagine a wage of 15k per annum in the mid 1990s, that would almost wipe out an entire mortgage within a year, yet 13 years later in 2007, you would need about 40k a year to buy exactly yje same home (based on 3x a salary + £25,000 saved up) Link to comment Share on other sites More sharing options...
Penistone999 Posted October 22, 2012 Share Posted October 22, 2012 Read more: http://www.dailymail.co.uk/news/article-2221111/Working-families-housing-benefit-soar-Number-applications-rising-10-000-month.html#ixzz29ywA0b6S Inflation figures have been released, a year has passed, rents riseth above inflation YET AGAIN. The relentless yearly rent rises continue and next year's rise is now set. Housing benefit claims have been shown to increase, the amount of working people having to claim them has increased massively. Working families are increasingly forced into the clutches of state dependency, unable to afford a roof over their heads, because the rents are too high, forced to rely on the state for housing and be used as a pawn to bid up the price of housing. It won't be long before we have rent strikes. We need to have rent caps in the first place, and an end to above inflation increase in housing rents, social housing rent rises should be capped at 0.5% below inflation for the foreseeable future..., there should be more security of tenure in the PRS and capped rents and rent rises. Rents must be capped until wages rise significantly. Working people should be able to afford housing out of their wages. How would you suggest going about this ,seeing as most landlords ( including myself on one of my four properties) have mortgages to pay ,so have to charge a level of rent to cover those mortgage payments ,and also make some profit out of the house they are renting out. ? Link to comment Share on other sites More sharing options...
Leah-Lacie Posted October 22, 2012 Share Posted October 22, 2012 Quote: Originally Posted by chem1st Read more: http://www.dailymail.co.uk/news/arti...#ixzz29ywA0b6S Inflation figures have been released, a year has passed, rents riseth above inflation YET AGAIN. The relentless yearly rent rises continue and next year's rise is now set. Housing benefit claims have been shown to increase, the amount of working people having to claim them has increased massively. Working families are increasingly forced into the clutches of state dependency, unable to afford a roof over their heads, because the rents are too high, forced to rely on the state for housing and be used as a pawn to bid up the price of housing. It won't be long before we have rent strikes. We need to have rent caps in the first place, and an end to above inflation increase in housing rents, social housing rent rises should be capped at 0.5% below inflation for the foreseeable future..., there should be more security of tenure in the PRS and capped rents and rent rises. Rents must be capped until wages rise significantly. Working people should be able to afford housing out of their wages. How would you suggest going about this ,seeing as most landlords ( including myself on one of my four properties) have mortgages to pay ,so have to charge a level of rent to cover those mortgage payments ,and also make some profit out of the house they are renting out. ? At a guess Chem will suggest that landlords stop purchasing properties that cost too much and have to be rented at high amounts just to cover mortgage payments. If your mortgage is more than the cap he suggests, then dont buy the house. This in turn will force house prices down as well as rental prices, as nobody will pay high prices. Posted from Sheffieldforum.co.uk App for Android Link to comment Share on other sites More sharing options...
chem1st Posted October 22, 2012 Author Share Posted October 22, 2012 How would you suggest going about this ,seeing as most landlords ( including myself on one of my four properties) have mortgages to pay ,so have to charge a level of rent to cover those mortgage payments ,and also make some profit out of the house they are renting out. ? If you took a mortgage(s) on that you can't afford to pay that is your own stupid fault. If you expect other people to pay them for you so that you can own multiple homes and exploit others for your own personal financial gain then perhaps you ought to deal with your warped sense of entitlement. If you want to buy a house, buy it with your own money earned via productive labour. People who are trying to provide a roof over their own heads deserve sympathy and help, but buy to let landlords who produce nothing deserve no help whatsoever. The sooner buy to let landlords go bust the better. The properties will still exist, and can be turned into housing for the people, not investments for the rentier class. The business model of buy to let should receive no subsidy, in fact it should be highly taxed to the point it is outlawed. Build to let however should be legal, for building is productive, and something useful to society is created. If you want to earn money off of the backs of the poor I suggest you start making affordable coats and turn a small profit. Rather than speculating on housing and expecting the state to guarantee your parasitic activity returns you a profit. Link to comment Share on other sites More sharing options...
Penistone999 Posted October 22, 2012 Share Posted October 22, 2012 If you took a mortgage(s) on that you can't afford to pay that is your own stupid fault. If you expect other people to pay them for you so that you can own multiple homes and exploit others for your own personal financial gain then perhaps you ought to deal with your warped sense of entitlement. If you want to buy a house, buy it with your own money earned via productive labour. People who are trying to provide a roof over their own heads deserve sympathy and help, but buy to let landlords who produce nothing deserve no help whatsoever. The sooner buy to let landlords go bust the better. The properties will still exist, and can be turned into housing for the people, not investments for the rentier class. The business model of buy to let should receive no subsidy, in fact it should be highly taxed to the point it is outlawed. Build to let however should be legal, for building is productive, and something useful to society is created. If you want to earn money off of the backs of the poor I suggest you start making affordable coats and turn a small profit. Rather than speculating on housing and expecting the state to guarantee your parasitic activity returns you a profit. Three of my properties are mortgage free ,and paid for . The other one i could have paid for outright, cash at the Auction ,but chose to buy it via mortgage so as to not tie up my own funds in that property. I can easily afford the mortgage , but there is no way any landlord( myself included) is just going to charge enough rent just to cover the mortgage payment, why should they ? . Afterall they bought the property to rent out to MAKE MONEY for themselves ,not just to let out on the cheap to just cover the mortgage for 20 years . Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 22, 2012 Share Posted October 22, 2012 I agree, I even provided a link that proves it. I was just wondering at the poster who could afford a house as a part time life guard but not as a full time teacher... A full time teacher could afford an average terrace in Sheffield even at the 2007 peak of the market. Know exactly where you are coming from. Was buying a house for 100k really affordable? In hindsight probably not. It looks to me like a msi-priced bad investment. Link to comment Share on other sites More sharing options...
Cyclone Posted October 22, 2012 Share Posted October 22, 2012 If you took a mortgage(s) on that you can't afford to pay that is your own stupid fault. He can afford to pay it, using part of the income from the rental. If you expect other people to pay them for you so that you can own multiple homes and exploit others for your own personal financial gain then perhaps you ought to deal with your warped sense of entitlement. The word you're looking for is business. That's what it's called when you invest money (even borrowed money) in order to try to sell/let something and make a profit. If you want to buy a house, buy it with your own money earned via productive labour. People who are trying to provide a roof over their own heads deserve sympathy and help, but buy to let landlords who produce nothing deserve no help whatsoever. Sympathy doesn't pay the bills. The sooner buy to let landlords go bust the better. The properties will still exist, and can be turned into housing for the people, not investments for the rentier class. Using magic fairy dust I suppose. The business model of buy to let should receive no subsidy, in fact it should be highly taxed to the point it is outlawed. Build to let however should be legal, for building is productive, and something useful to society is created. It doesn't receive a subsidy and it is highly taxed. If you want to earn money off of the backs of the poor Because only the poor ever rent. I suggest you start making affordable coats and turn a small profit. Rather than speculating on housing and expecting the state to guarantee your parasitic activity returns you a profit. It's not speculation unless you're hoping that the capital value of the house will rise. Link to comment Share on other sites More sharing options...
geared Posted October 22, 2012 Share Posted October 22, 2012 So whats the standing with people who buy an old dilapidated property, turn it around and then rent it out - are they parasites too? What if they sell it off for abit of profit - are they more or less of a parasite? Not that many people are interested in a true fixer-upper, most peoples limit is redecorating and installing new carpets - maybe paying to have the kitchen redone. Still there are quite a few properties on the market that need a bloody good overhaul. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 22, 2012 Share Posted October 22, 2012 So whats the standing with people who buy an old dilapidated property, turn it around and then rent it out - are they parasites too? What if they sell it off for abit of profit - are they more or less of a parasite? Not that many people are interested in a true fixer-upper, most peoples limit is redecorating and installing new carpets - maybe paying to have the kitchen redone. Still there are quite a few properties on the market that need a bloody good overhaul. They're only doing it because inflated prices provide an incentive. People taking on properties in need of repair is not a new thing. I'd rather a wreck selling for £150k at today's prices and needing £25k of work was sold to a family for £50k and let the family do the work of making it into their home - an affordable home at £75k. What that family might be faced with instead is an over-priced rent to cover their landlord's £175k mortgage, overheads and margin. I don't think people doing up houses are parasites, they're simply making business and investment decisions that are right for them. But buy to let is not a good thing overall though - it was a big part of the housing bubble. Link to comment Share on other sites More sharing options...
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