Let’s create more first-time buyers by making private tenants homeless!

Boris's plans are always flawed, but that is the nature of the Tory party -

Reading Rosalind's comments you would think that the only houses that come onto the market are those off-loaded by [reluctant] landlords by evicting tenants. But a quick cursory browse on Rightmove shows 45 pages worth of up to 2 bed apartments/houses for sale within 5 miles of Manchester priced under £200k. I didn't study who was selling what, but they can't all be non-starters for FTB's. Of course it won't meet all the potential demand, but some supply is already there.

Roaslind states she doesn't understand Trevl's point, but it is clear that he is stating that if renters become buyers then the demand for rented property will fall and landlords will have to work harder to get tenants.

I have two adult children (23ish and 33) still at home and would help them become FTB's even if they did end up staying at home and rented out their own property. My eldest lived with us for two years even after he bought a property and let it out and then bought another to live in. He only moved out after he got married.

We are all different, families are very different from one to another. What works best for one may not for another. What matters is their is individual choice, and preferably the more the better. There are no rights or wrongs. Meddlesome government interference to harness popular votes are manipulative and short sighted. The political agenda trumps joined up thinking and helps nobody in the long run.
I have just signed up for the York report number 2 since report number one may have been swept under the Rug. I would urge all to do the same. It is a shame that Dr Beck is not allowed to contribute because she lives in Wales. I guess it is another short-sighted funding issue.

Reply to the comment left by Smartermind at 04/11/2020 - 12:57
There is a fundamental flaw in your comment that the anti-landlords also seem oblivious to.

The rental market is not a zero-sum game. If a tenant buys, it paradoxically does not necessarily (nor at all in reality) reduce the rental demand. It reduces it by that single family of course, and thus is a -1 in the moment of that transaction, but over the whole market does not change demand. Multiple other factors do that. For example, if the family in question does indeed buy such that rental demand is -1, how are you so confident that two divorcing couples aren’t coming along at that moment to add between +2 and +4 into the equation? They are! Similarly, someone gets hacked off at work and decides to go to uni. That’s +1. A struggling council suddenly finds 25 new immigrant families to house, so that’s another +25 in the demand column. The idea that the -1 buying their own home creates 1 less demand is only true in isolation with those individuals, but why anybody thinks that demand is not replaced, often many times over, is baffling, and deeply flawed. The figures become even more skewed for renters if they happen to buy the rental they’re living in, which reduces the demand by 1 but also the supply for future renters. Landlords selling also usually means evicted tenants, all of whom are then chasing fewer properties, while all the cases I mentioned above joining the rental market for the first time face even stiffer competition for rentals. In one case last week, I had a house come empty after 10 years and had 22 viewings and 3 offers in the first 48 hours alone. Some of these were renters being evicted by a local RAF base, thus increasing demand dramatically even though the departing tenant was a buyer of their own property. The ‘1 in, 1 out’ argument is factually flawed.

It's shameful that the Government can't even fix the serious problems that already exist in the housing market. The cladding scandal is affecting 10,000s of young people already and yet this is being largely swept under the carpet! This interview with Robert Jenrick sums the whole issue up and shows where priorities lie. https://www.lbc.co.uk/radio/presenters/nick-ferrari/cladding-crisis-jenrick-admits-hes-still-not-met-people-trapped-in-dangerous-hom/

Reply to the comment left by Gwen Davies at 04/11/2020 - 12:11
No the government haven’t thought it through ! As usual !
It would be great if all the private landlords in the uk could get together and put all their properties on the market giving the tenants notice all at the same time, sending the tenants off to the local councils to house them, as we would only be selling to first time buyers !!!!
I wonder what would happen?

Reply to the comment left by Paul Chetwyn at 04/11/2020 - 18:05
Indeed!

Yes Paul - it would be a wonderful idea. Though as a group we are also competitors supplying to the same market. Hence we will never be able to pull that off. Boris would bring in some legislation to probably take away our properties and give to existing tenants?

Reply to the comment left by dismayed landlord at 05/11/2020 - 10:30Give the properties to existing tenants? That sounds more like Commie Corbynov's idea...
Don't you remember a discussion here about Boris The Landlords Friend? So many people here were sadly deluded (excuse a strong word), but the alternative seemed to be much, much worse.. I am not so sure anymore...

Oh I certainly do. There are more tenants than landlords so its an automatic vote catcher and Boris will need some votes when all this C-19 dies down.

So the Government are going to lend FTB’s the 5% deposit and force lenders to hand out 95% mortgages. Not too sure lenders are going to be happy about this. Nationwide has recently announced they will not accept the deposit being provided by Mom and Dad presumably because they want to see the applicant has managed to obtain the deposit from their own resources, ideally savings.
I really don’t think the Government should be getting involved in dictating banks/building societies’ lending policy. They’re not in the risk assessment business. Not going to end well ....... Credit Crunch 2.0 designed by Boris.