Somewhere to live
By Ron Rybs
@Ronrybs (21492)
London, England
March 2, 2016 10:43am CST
@suzzy3 wrote yesterday about the strength of the 'buy to let' housing market in the UK and that some landlords were pulling in cash through high rents.
A new block of flats was completed recently, near me, with all the units sold and judging from the number of To Let signs, they all seem to have been bought by landlords.
There is still a lot of work ongoing converting or constructing new apartment blocks, but with an impending change of tax rules this may no longer be so profitable and in many cases will cost landlords more than make in rents.
How all this will address the house shortage the UK, and the South East in particular, has been suffering from for more than a decade is anyone's guess. I don't think the politicians have much of a clue.
5 people like this
3 responses
@TiarasOceanView (70020)
• United States
4 Mar 16
Oh the rents have to be absolutely out of control there. I mean they are here where I live, but yeah, the housing is terrible i know there Ron. Look at all the signs there.
1 person likes this
@TiarasOceanView (70020)
• United States
4 Mar 16
@Ronrybs Yeah I mean even when I was there a long time ago ( a very long time) , it was too much. Good your mortgage is not that high then, though 2/3 is quite a bit.
1 person likes this
@Ronrybs (21492)
• London, England
5 Mar 16
@TiarasOceanView I dread to think what it would be if I'd bought today
2 people like this
@suzzy3 (8341)
•
5 Mar 16
Thanks for the mention. I think more properties will come on the market so young people or otherwise will be able to buy a property. Leaving the rental markets for those who really cannot afford to rent. The housing market is like anything else supply and demand the more there is the cheaper {hopefully} it gets. I do feel a bit sorry for some landlords who have purchased a buy to let for their pension ,some of those landlords really charge far to much rent and live off others poverty.
