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 Melanchthon - Aug 23 71 comments
by Migeru - Aug 24 14 comments
by Frank Schnittger - Aug 18 62 comments
by Frank Schnittger - Aug 6 123 comments
by ARGeezer - Aug 5 4 comments
by Frank Schnittger - Aug 3 19 comments
by gmoke - Aug 5
by Migeru - Aug 2414 comments
by Melanchthon - Aug 2371 comments
by Frank Schnittger - Aug 1862 comments
by Frank Schnittger - Aug 6123 comments
by gmoke - Aug 5
by ARGeezer - Aug 54 comments
by Frank Schnittger - Aug 319 comments