Should there be a ban on buying more than one property

[Calahonda]

You realise that section 24 is a conservative party idea. A hugely popular one at that. They know that a young electorate that is forced to rent from landlords will not vote Tory. Corbyn is out of the loop on this one so your rant is way off the mark. The party's over and you know it

 

How is it over for the likes of me and mine? A circa £350K home totally unencumbered, £30K p/a pension and investment income without reducing considerable savings and investments. We’ve done our bit regarding helping our son and his wife onto the property ladder, we both give to charity, are animal lovers and are kind to the elderly and children.

 

So over to the saddos to accuse us of being horrible uncaring Tory parasites, the politics of envy won’t win, the British will never vote for austerity, long may the party continue.

[Cyclone]

Bizarre comment about austerity, the tories have been pushing austerity for over a decade now.

 

---------- Post added 19-05-2018 at 09:15 ----------

 

^^^I’ve been saying this for years.

It’s people’s expectations that need to be reset, not the housing market.

Years ago, couples setting out would have got married and lived with a set of parents perhaps whilst saving up. Then bought a fixer-upper, not had 2 cars, luxuries and holidays. Gradually traded up over the next 10 years until they could finally afford something decent, where they wanted to live, not just where they could afford to live.

These days people expect to be able to skip the hardship years.

 

I don't think that's true at all. You probably also believe that if they just stop buying avocado and toast and fancy coffee then they'd be able to save up a deposit.

(To be clear, not true that they expect to skip the harder years, true that that's how it was in the past).

 

---------- Post added 19-05-2018 at 09:17 ----------

 

I just ran a search on Rightmove. There are 474 2+ bedroom homes for sale within 5 miles of Sheffield city centre under £70,000.

 

There is no problem finding a cheap home to buy. Some people need to be realign their mindset and stop imagining that they deserve more than they really do.

 

Sheffield is of course not representative of the entire country and a relatively cheap area.

[Guest makapaka]

I suppose that someone could apply to the Elders for a home on the moon on a stick. Otherwise see my earlier comment about adjusting expectations. If someone wants to own their home they will be prepared to make sacrifices just as people did decades ago. Some people will never own a home because they are not able to earn enough. It's always been that way.

 

"It's alright for you"I hear you cry! My own experience: grew up in north Sheffield, bought first home with partner almost in Worksop because I could afford it, and commuted to Sheffield or Barnsley. After a few moves and career progressions I now live in a nice house in a nice part of west Sheffield.

 

Things don't happen overnight and you need to struggle a bit to get on. Moaning or hoping for a house price crash is a complete waste of energy which won't change a thing.

 

.......finished off with a quick boast post about your perceived “ success” - West sheffield eh?

 

If it’s always been the same - how do you square that 25 years ago a reasonable salary was equivalent to the price of a reasonable home and now it’s the equivalent of a reasonable deposit?

 

“Moaning” or voicing an opinion (?) could change it - we don’t have enough houses - we don’t have enough to buy and we don’t have enough social housing either - so people are stuck paying ever increasing rents and deposits to feather others nests

 

---------- Post added 19-05-2018 at 10:07 ----------

 

How is it over for the likes of me and mine? A circa £350K home totally unencumbered, £30K p/a pension and investment income without reducing considerable savings and investments. We’ve done our bit regarding helping our son and his wife onto the property ladder, we both give to charity, are animal lovers and are kind to the elderly and children.

 

So over to the saddos to accuse us of being horrible uncaring Tory parasites, the politics of envy won’t win, the British will never vote for austerity, long may the party continue.

 

Not necessarily uncaring - just detached from the norm for large numbers of the population.

 

As for not voting for austerity - isn’t that what happened at the last election?

Edited May 19, 2018 by makapaka

[truman]

Sheffield is of course not representative of the entire country and a relatively cheap area.

 

You could probebly find the same with Chesterfield,Barnsley,Rotherham and anynumber of towns and cities north of Milton Keynes..

[ENG601PM]

.......finished off with a quick boast post about your perceived “ success” - West sheffield eh?

 

If it’s always been the same - how do you square that 25 years ago a reasonable salary was equivalent to the price of a reasonable home and now it’s the equivalent of a reasonable deposit?

 

“Moaning” or voicing an opinion (?) could change it - we don’t have enough houses - we don’t have enough to buy and we don’t have enough social housing either - so people are stuck paying ever increasing rents and deposits to feather others nests

 

---------- Post added 19-05-2018 at 10:07 ----------

 

 

Not necessarily uncaring - just detached from the norm for large numbers of the population.

 

As for not voting for austerity - isn’t that what happened at the last election?

 

That is just not true. My first home was 20 miles from where I grew up and cost £42k in 1992. I was earning £10k, my partner £7k and we got a 95% mortgage with a deposit we saved up while living with parents and paying them board. Interest rates were about 12% from memory. We had carpet in three rooms, nothing to eat at, one bed, a second hand TV and didn't have foreign holidays. There was no help to buy or first time buyer stamp duty discount or lender cash back deal.

 

Buy a home for £70k today with your partner and you will have much more disposable income.

 

Your expectations need major recalibration before you come back to tell me how hard done by you are.

[Calahonda]

That is just not true. My first home was 20 miles from where I grew up and cost £42k in 1992. I was earning £10k, my partner £7k and we got a 95% mortgage with a deposit we saved up while living with parents and paying them board. Interest rates were about 12% from memory. We had carpet in three rooms, nothing to eat at, one bed, a second hand TV and didn't have foreign holidays. There was no help to buy or first time buyer stamp duty discount or lender cash back deal.

 

Buy a home for £70k today with your partner and you will have much more disposable income.

 

Your expectations need major recalibration before you come back to tell me how hard done by you are.

 

Don’t let the facts get in the way of a good rant, you are of course correct, I can’t recall anytime in my lifetime (I’m 71) where a year’s salary could equal the cost of a house, unless you were a pop star or similar. Why folk post this rubbish god only knows, they probably take us as being as daft as themselves.

[Guest makapaka]

That is just not true. My first home was 20 miles from where I grew up and cost £42k in 1992. I was earning £10k, my partner £7k and we got a 95% mortgage with a deposit we saved up while living with parents and paying them board. Interest rates were about 12% from memory. We had carpet in three rooms, nothing to eat at, one bed, a second hand TV and didn't have foreign holidays. There was no help to buy or first time buyer stamp duty discount or lender cash back deal.

 

Buy a home for £70k today with your partner and you will have much more disposable income.

 

Your expectations need major recalibration before you come back to tell me how hard done by you are.

 

It’s not absolute science but £42k was a lot of money for a house in 1992 and £10k wasn’t the average wage.

 

If you think that house prices have not risen out of proportion with wages you are blind to the evidence in front of you.

[choogling]

Can you believe that I am now the only person in my dept at work that owns their own home? There used to be 3 of us, but 2 left. Now all my colleagues are forced to rent.....and each and everyone totally hates it!!

 

How unfair and unjust is that!

I have 2 younger brothers that have also been forced to rent. Then the viscous cycle begins. They are trapped, never will they be able to save thanks to the downright greedy landlords. The Gov't should sort this problem out. Whichever party pledged to scrap buy to let would get my vote.

 

I hate the parasitic leeches. Most have either inherited, bought prior to the property boom or had some other good fortune to start them off....and then they just assume they should have a surplus pot of money rolling in each month, plus the poor sod is paying the property mortgage off for them. They then walk off into the sunset on the sheer misery and unhappiness of the wretched souls who are forced to bow to their demands.

 

About time the whole 2nd home ownership was taxed 90%....to hell with them!!

 

buy to let mortgages should be banned again.

[Calahonda]

It’s not absolute science but £42k was a lot of money for a house in 1992 and £10k wasn’t the average wage.

 

If you think that house prices have not risen out of proportion with wages you are blind to the evidence in front of you.

 

I was earning over £10K p/a in 1985, let alone in 1992, however you were questioned on your 1xsalary 1992 house costs, I presume that you will never quantify this statement, such is fiction.

[arthurseaton]

How is it over for the likes of me and mine? A circa £350K home totally unencumbered, £30K p/a pension and investment income without reducing considerable savings and investments. We’ve done our bit regarding helping our son and his wife onto the property ladder, we both give to charity, are animal lovers and are kind to the elderly and children.

 

So over to the saddos to accuse us of being horrible uncaring Tory parasites, the politics of envy won’t win, the British will never vote for austerity, long may the party continue.

 

Eh? I've got no idea and even less interest in your personal circumstances. I was simply pointing out that the Tory party has inplemented the necessary tax changes to bring about the end of buy to let as a viable investment option. This will ensure many over leveraged btl investors will be forced to sell their properties or else incur massive tax costs.So, not only will they cease buying up houses that come on to the market by outbidding first text buyers they will actually become providers of such properties thus increasing the number of houses on the market and helping the artificially inflated prices to reduce to something like historical averages. In Sheffield this could mean reductions of up to 40 %. I don't even know if you own btl property. I was simply pointing out that this is not a labour party policy but a Tory one. There isn't a party in Britain that would side with btl landlords on this issue. It would be political suicide. Property as an investment is over and we should all be thankful.

Edited May 19, 2018 by arthurseaton
Spelling