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 Frank Schnittger - Jun 24 49 comments
by Frank Schnittger - Jun 23 9 comments
by tyronen - Jun 22 34 comments
by Frank Schnittger - Jun 17 34 comments
by Frank Schnittger - Jun 13 62 comments
by John Redmond - Jun 17 25 comments
by gmoke - Jun 15 5 comments
by DoDo - Jun 12 30 comments
by Frank Schnittger - Jun 2449 comments
by Frank Schnittger - Jun 239 comments
by tyronen - Jun 2234 comments
by John Redmond - Jun 1725 comments
by Frank Schnittger - Jun 1734 comments
by gmoke - Jun 155 comments
by Frank Schnittger - Jun 1362 comments
by DoDo - Jun 1230 comments
by Democrats Ramshield - Jun 104 comments
by generic - Jun 81 comment
by fjallstrom - Jun 81 comment
by DoDo - Jun 647 comments
by ARGeezer - Jun 617 comments
by DoDo - Jun 568 comments
by ARGeezer - Jun 270 comments
by das monde - Jun 222 comments
by John Redmond - May 3037 comments
by DoDo - May 2911 comments
by Frank Schnittger - May 2620 comments
by gmoke - May 1518 comments