Private Landlords increase Employment

[Supertramp]

http://www.theregister.co.uk/2013/06/19/how_home_ownership_hikes_unemployment/

 

Chem1st! Wherefore art thou?

[Obelix]

I think this is a point that has been made many times before, and has been shot down by the usual suspects....

 

People don't always want to own their houses. For many renting and the flexibility it gives them is almost essential.

 

If I look at my tenants, about 80% of them are renting because work brought them to this area. They wouldnt have been able to do that if they had to also service a mortgage in the town they left.

[alchresearch]

I rent because it gives me freedom to move around and work and live in more places without the hassle of the chain and having to sell before moving on.

 

And it gives me access to properties I might not normally be able to afford to buy, but can afford to rent.

 

I also don't have to worry about repairs, upkeep or refurbishment.

 

---------- Post added 19-06-2013 at 14:59 ----------

 

And something on the BBC about it today:

 

How do you prepare for a lifetime of renting?

http://www.bbc.co.uk/news/magazine-22952667

 

There's a long-held view in the UK that people rent only because they have to.

 

They rent when young, when it seems a rite of passage. They rent before they've decided where to live permanently. But most of all, they rent because they can't yet afford to buy.

 

Many renters enjoy the freedom.

 

They live in an area where they could never afford to buy. There's less hassle and responsibility. If the boiler breaks, the landlord will get it fixed.

 

But at a certain age, perhaps in one's late 20s, there's also a nagging fear. The clock is ticking. People use phrases like "rent's just dead money".

 

Right To Buy in the 1980s led to a boom in home ownership. In 1988 only 9% were renting homes. But in recent years, as house prices have risen and the economy has stalled, the move has been in the opposite direction.

 

In 2010 the Chartered Institute of Housing forecast that by 2020 a fifth of homes would be privately rented.

 

 

One way is to look at the rest of Europe. Long-term renting is normal in many places.

 

Figures for 2011 show that 13.3% of people in the UK privately rent (with social housing, the renting figure is 32.1%). This compares with 51% in Switzerland, 40% in Germany and 32.8% in Denmark. European countries provide much greater legal protections.

Edited June 19, 2013 by alchresearch

[Supertramp]

I think this is a point that has been made many times before, and has been shot down by the usual suspects....

 

People don't always want to own their houses. For many renting and the flexibility it gives them is almost essential.

 

If I look at my tenants, about 80% of them are renting because work brought them to this area. They wouldnt have been able to do that if they had to also service a mortgage in the town they left.

 

100% of my current tenants have moved from a different area to work here. 2 IT contractors who were working on Universal Credit and 3 junior doctors in one house and a group of polish girls in the other who do varied jobs.

[geared]

Rentings good as well if you don't know the area, most places start out with a 6 month contract so if you find you're in a real sinkhole you don't have long to wait to move out.

 

There's great flexibility with work as well, as lots of people have found themselves on short-term or limited contracts those renting have greater freedom of being able to move with the work, leaving behind those who must stay with their mortgage.

 

Also the whole not having to maintain the house thing is really very nice, esp if the boiler breaks and the landlord has to pay to get a plumber out on a Sunday evening in the snow.

[MrSmith]

Singapore unemployment is 1.9%, home ownership is 90.1%

Russia unemployment is 6.4% home ownership is 84.7%

Mexico unemployment is 5.12% home ownership is 84%

Norway unemployment is 3.0% home ownership is 77%

Brazil unemployment is 4.7% home ownership is 74%

United Kingdom unemployment 7.9% home ownership is 69%

[geared]

Those figures don't mean much, what are you trying to say?

[dosxuk]

Singapore unemployment is 1.9%, home ownership is 90.1%

 

In Singapore the land is so expensive that effectively nobody would be able to afford to buy a house there, if it wasn't for the Government backed planning / building / selling scheme.

[MrSmith]

Those figures don't mean much, what are you trying to say?

 

The figures are saying that unemployment is lower in many countries with higher rates of home ownership than the UK.

[big_g]

Singapore unemployment is 1.9%, home ownership is 90.1%

Russia unemployment is 6.4% home ownership is 84.7%

Mexico unemployment is 5.12% home ownership is 84%

Norway unemployment is 3.0% home ownership is 77%

Brazil unemployment is 4.7% home ownership is 74%

United Kingdom unemployment 7.9% home ownership is 69%

 

Germany unemployment rate 5.4% home ownership is 42%

Bulgaria unemployment rate 12.6% home ownership 97%

Edited June 19, 2013 by big_g