>The housing in UK is in crisis because there have not been enough homes built.
>So is it a problem that they aren't building more or not? If we agree that more housing needs to be built, then the proper incentives must be in place. And a proper incentive may actually be as simple as eliminating a disincentive (e.g. 4 years of environmental review prior to the project's approval).
And this is a part of why it should be administered by governments and not just let loose to market forces. Homes can't just be built wherever, whenever. It should be meticulously planned and integrated with various public services. There's no real financial incentive to build 100,000 houses in the middle of nowhere, it needs to have schools, hospitals, infrastructure etc. A property developer would rather squash a bunch of apartments or buy some old stock, refit everything and charge a premium.
>It's great until it isn't. Interest rates are rising, and mortgages in the UK are much shorter term than in the US.
They actually suggested recently to offer multi-generational mortgages... That's how crazy the market is getting.
>These are risks that the landlord assumes for me.
Those are risks your landlord should have insurance for. In a world where property isn't such a commodity, those risks don't really have the same meaning or value.
We've largely left house building to the 'market forces' and it is failing us, that is the reality. What happened to the second largest construction firm in the UK? "The largest ever trading liquidation in the UK – which began in January 2018" - Carillion collapsed with £7 billion in liabilities.
"One of the UK's biggest landlords, owns over 1,000 properties, tried to ban 'coloured' people from renting because of the curry smell" - What happens to people that are 'undesirable' to landlords, they need a home too or should they simply be destitute or constantly bounced around the lowest standard of housing stock available?
Rent caps are probably not effective or radical enough to actually solve this crisis. I think if we really want to do something, it's going to hurt a lot of peoples 'net worth'.
And this is a part of why it should be administered by governments and not just let loose to market forces. Homes can't just be built wherever, whenever. It should be meticulously planned and integrated with various public services. There's no real financial incentive to build 100,000 houses in the middle of nowhere, it needs to have schools, hospitals, infrastructure etc. A property developer would rather squash a bunch of apartments or buy some old stock, refit everything and charge a premium.
>It's great until it isn't. Interest rates are rising, and mortgages in the UK are much shorter term than in the US.
They actually suggested recently to offer multi-generational mortgages... That's how crazy the market is getting.
>These are risks that the landlord assumes for me.
Those are risks your landlord should have insurance for. In a world where property isn't such a commodity, those risks don't really have the same meaning or value.
We've largely left house building to the 'market forces' and it is failing us, that is the reality. What happened to the second largest construction firm in the UK? "The largest ever trading liquidation in the UK – which began in January 2018" - Carillion collapsed with £7 billion in liabilities.
"One of the UK's biggest landlords, owns over 1,000 properties, tried to ban 'coloured' people from renting because of the curry smell" - What happens to people that are 'undesirable' to landlords, they need a home too or should they simply be destitute or constantly bounced around the lowest standard of housing stock available?
Rent caps are probably not effective or radical enough to actually solve this crisis. I think if we really want to do something, it's going to hurt a lot of peoples 'net worth'.