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 - Oct 16 12 comments
by Frank Schnittger - Oct 12 30 comments
by Frank Schnittger - Oct 2 33 comments
by fjallstrom - Sep 29 41 comments
by Frank Schnittger - Sep 30 21 comments
by Frank Schnittger - Sep 26 2 comments
by Oui - Sep 23 10 comments
by Luis de Sousa - Sep 22 3 comments
by Frank Schnittger - Oct 1612 comments
by Frank Schnittger - Oct 1230 comments
by Frank Schnittger - Oct 233 comments
by Frank Schnittger - Sep 3021 comments
by fjallstrom - Sep 2941 comments
by Frank Schnittger - Sep 262 comments
by gmoke - Sep 24
by Oui - Sep 2310 comments
by Luis de Sousa - Sep 223 comments
by gmoke - Sep 191 comment
by Cat - Sep 1422 comments