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No region of England has rents that are affordable for under-25s


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Most on here will know this already but worth a thread in itself every so often IMO. Is there anything more scandalous currently (besides the overreaction to COVID)?

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    121,000 young people either made homeless or risked homelessness in 2020

     

Landlordism / BTLing is going down the shitter, perhaps rightly so, but I can't see LHAs stepping in and mass-building like Corbyn supposedly wanted.

 

https://www.thisismoney.co.uk/money/news/article-9139549/Rents-England-branded-unaffordable-young-people-minimum-wage.html

 

Quote

 

'There is not a single town in England where young people on the minimum wage can rent affordably.

 

 

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And yet if you asked most young people if they were pro-immigration, they'd say yes. 

I have a good number of friends who bought the houses they are living in during the nineties, and have been resplendently smug over how much they are worth over the years. Not one of them could buy th

The trouble is, you have no security of tenure, 6 month leases, crap landlords, spiv letting agents and everything else. All the time chucking money away every month on a hiding to nothing. Simpl

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Interesting that some of the comments for that article say it's down to the government over-taxing private landlords forcing the rents up and it needs a reversal.

I'm sure it's more accurate to say landlords will charge whatever they can get away with, they aren't about to reduce rents if their properties aren't empty, no matter the tax situation.

Not sure what the government platitudes are on this topic now everyhing is being consumed by covid? Built to rent?

Though they aren't doing so well building those 40 new hospitals promised at the last election. So don't put much weight behind anything they say on housing.

Maybe if all those foreign students don't return in the same numbers then they'll entice the min-wage workers (which affects all ages re housing, not only the young) to share the HMOs, which is where those struggling on accommodation affordability have typically ended up, one step up from a squat.

 

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It will surprise you, but I don't agree with this.

Minimum wage is just over £18k per year. Normal affordability criteria is rent being no more than 1/3 of salary.

Which is £500 per month.

You can rent somewhere reasonable for that here, and I am sure there are plenty of other parts of the UK that this is true, just not in London and the South East.

https://www.rightmove.co.uk/properties/86039821#/

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21 minutes ago, spunko said:

Most on here will know this already but worth a thread in itself every so often IMO. Is there anything more scandalous currently (besides the overreaction to COVID)?

  •  

Landlordism / BTLing is going down the shitter, perhaps rightly so, but I can't see LHAs stepping in and mass-building like Corbyn supposedly wanted.

 

https://www.thisismoney.co.uk/money/news/article-9139549/Rents-England-branded-unaffordable-young-people-minimum-wage.html

 

 

Historically is this abnormal?

There was a period from in the late 70s-80s maybe but typically kids stayed at home until married and then rented on joint income until dads earnings had grown to the point where the lass could spawn.

I'm not sure this is that outrageous.

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1 minute ago, Wight Flight said:

It will surprise you, but I don't agree with this.

Minimum wage is just over £18k per year. Normal affordability criteria is rent being no more than 1/3 of salary.

Which is £500 per month.

You can rent somewhere reasonable for that here, and I am sure there are plenty of other parts of the UK that this is true, just not in London and the South East.

https://www.rightmove.co.uk/properties/86039821#/

Shirley the criterion is minus tax?  Which leaves £420 odd per month on rent, not £500. While that may go far on the IoW it doesn't anywhere else in the SE...

 

 

I was renting at £650 a month when I was 18, so about 15 years ago. It was a struggle, but I was on about £25k at the time.

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Love the idiots:

 

And so the great reset has started. Successive governments have disproportionately hammered landlords with higher taxes so it was a no brainer that rents would rise. The anti landlord brigade represented by the intellectually challenged John Banyan on here, fail to grasp that when the PRS implodes this country will have a major housing crisis. Who do these idiots think will take up the slack? Housing associations? Local authorities? Not a chance. There will be homelessness on a scale never seen before.

 

Spot on Jon. It is not rocket science for politicians to realise that businesses must cover their costs.

 

Simple solution: End the Gideon created war on the private Landlord.

 

IO BTL LL did not build a single fucking house.

They are part of the problem.

2 minutes ago, Wight Flight said:

Do we count as a region?

Hampshire + IOW...

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7 minutes ago, Wight Flight said:

It will surprise you, but I don't agree with this.

Minimum wage is just over £18k per year. Normal affordability criteria is rent being no more than 1/3 of salary.

Which is £500 per month.

You can rent somewhere reasonable for that here, and I am sure there are plenty of other parts of the UK that this is true, just not in London and the South East.

https://www.rightmove.co.uk/properties/86039821#/

Don't let the facts get in the way of a DOSBODS trope.

You could get a very nice house where I live - potentially a detached one if you bide your time and have decent references - for that sort of coin...

 

XYY

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1 minute ago, spygirl said:

Love the idiots:

 

And so the great reset has started. Successive governments have disproportionately hammered landlords with higher taxes so it was a no brainer that rents would rise. The anti landlord brigade represented by the intellectually challenged John Banyan on here, fail to grasp that when the PRS implodes this country will have a major housing crisis. Who do these idiots think will take up the slack? Housing associations? Local authorities? Not a chance. There will be homelessness on a scale never seen before.

 

Spot on Jon. It is not rocket science for politicians to realise that businesses must cover their costs.

 

Simple solution: End the Gideon created war on the private Landlord.

 

IO BTL LL did not build a single fucking house.

They are part of the problem.

Hampshire + IOW...

I only identify as Hampshire when I want something delivered.

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16 minutes ago, MrLibertyRedux said:

I have a good number of friends who bought the houses they are living in during the nineties, and have been resplendently smug over how much they are worth over the years. Not one of them could buy the place they are in today.

They all have teenage children approaching early adulthood however. Little by little you can see the cogs turning, and it looks like a dawning realisation is slowly forming.

Some of them are going to have 30 year old kids living at home, they just haven't realised it yet. And that was pre-covid.

 

I could buy mine again mind it’s worth fuck all.I could even buy mine on benifits ffs.

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1 minute ago, MrLibertyRedux said:

The trouble is, you have no security of tenure, 6 month leases, cheap landlords, spiv letting agents and everything else. All the time chucking money away every month on a hiding to nothing.

Simple fact of the matter is, the modest house in the Midlands I grew up in that my father, an unskilled layman machine minder bought on a 1.5 times salary mortgage is now 6 or 7 times the average wage today.

We've lost;

Jobs for life

Affordable housing 

Free education

Pensions

That's your four big ones right there.

That's a different argument.

Rent hasn't followed house prices. My father always viewed rent as dead money and as yields were 10% plus he was right.

They are now down as low as 3% which changes that viewpoint.

In my view, nobody should buy their first home. The numbers don't stack up.

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16 minutes ago, Wight Flight said:

It will surprise you, but I don't agree with this.

Minimum wage is just over £18k per year. Normal affordability criteria is rent being no more than 1/3 of salary.

Which is £500 per month.

You can rent somewhere reasonable for that here, and I am sure there are plenty of other parts of the UK that this is true, just not in London and the South East.

https://www.rightmove.co.uk/properties/86039821#/

What is the minimum wage for under 25s?

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14 minutes ago, GBDamo said:

Historically is this abnormal?

There was a period from in the late 70s-80s maybe but typically kids stayed at home until married and then rented on joint income until dads earnings had grown to the point where the lass could spawn.

I'm not sure this is that outrageous.

The other way round wasn't it? Son lived at home until he accidentally got a girl up the duff, then they hastily arranged a marriage and bought a house. 

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4 minutes ago, The XYY Man said:

Don't let the facts get in the way of a DOSBODS trope.

You could get a very nice house where I live - potentially a detached one if you bide your time and have decent references - for that sort of coin...

 

XYY

Fuck a single lad could buy a terrace around here then rent the spare room out for 300.if he has a working partner that’s 2x 18k .

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5 minutes ago, The XYY Man said:

Don't let the facts get in the way of a DOSBODS trope.

You could get a very nice house where I live - potentially a detached one if you bide your time and have decent references - for that sort of coin...

 

XYY

Who gives a shit about the particular outlier you are in.

Your "trope" angle is bullshit.

6 fold increase in 2 up two downs in a decade is what I and many others have seen in the decade that saw the establishment of degrees of every job and cheap migrants to replace a lot of those as well.

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