The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
So the less wealthy unhoused are pushed into a rented sector where demand far exceeds supply and the rents expected have become ridiculous. Typical rents for a 2 bedroom flat within commuting distance of London in a half decent area can go as high as £1000 a month. A four bedroom house two doors away from me is rented at £2500 a month. Considering that the mortgage on such a property is generally 1/3 - 1/2 of the cost of renting, you can understand the traditional push for home ownership.
There has been a recent big push of people going for second home ownership as substitutes for a pension scheme, the parasites of the the financial industry having been eyed and found wanting. Much of this is funded by a "Buy to let" mortgage. These mortgages almost always come with the condition that the rent should be set at a minimum of 110% or 120% of the mortgage, to prevent the mortgage company losing out while a property is between tenants. As many of the buy to let houses were brought in the run up to the financial crash, tenants are paying 120% of peak mortgage rates, plus administration fees, plus whatever profits the owner cares to add into the situation. it's generally considered reasonable that an investors rental return should be about 8% of house cost
Any idiot can face a crisis - it's day to day living that wears you out.
by DoDo - Dec 21 2 comments
by Democrats Ramshield - Dec 16 4 comments
by ARGeezer - Dec 15 63 comments
by Democrats Ramshield - Dec 20 5 comments
by gmoke - Dec 2 8 comments
by das monde - Dec 14 19 comments
by LEP - Dec 9 26 comments
by gmoke - Dec 17
by DoDo - Dec 212 comments
by Democrats Ramshield - Dec 205 comments
by gmoke - Dec 17
by ReGiNuss - Dec 172 comments
by Democrats Ramshield - Dec 164 comments
by ARGeezer - Dec 1563 comments
by das monde - Dec 1419 comments
by LEP - Dec 926 comments
by ARGeezer - Dec 816 comments
by gmoke - Dec 72 comments
by rz - Dec 415 comments
by gmoke - Dec 28 comments
by A swedish kind of death - Dec 233 comments
by rz - Nov 3071 comments
by Migeru - Nov 2959 comments
by ARGeezer - Nov 242 comments
by Cyrille - Nov 247 comments
by gmoke - Nov 1916 comments