A prominent Conservative has described as “infuriating and saddening” the fact that so many Millennials are stuck renting and cannot afford to buy.
Ryan Shorthouse is the founder and chief executive of the Conservative-supporting think tank Bright Blue, and writing in The Times he is critical that under his p[arty’s government “buy to let investors have swooped to claim properties that traditionally would have gone to those starting out on the property ladder.”
He is also critical that a reported one in six so-called baby boomers have a second home.
Instead Shorthouse wants Housing Secretary Michael Gove to tilt the balance of the housing market towards first time buyers. He praises the additional homes stamp duty surcharge for second home owners and investors but wants more, with a mortgage review leading to easier and cheaper loans for FTBs, and their rent record becoming part of their eligibility for a loan.
He also considers interest-free loans for younger non-home owners “of modest means” as a potential Conservative policy.
“Addressing this inter-generational injustice needs to be a central mission for this government” he says, adding: “[This would be] for moral and economic reasons but also political ones.”
And he concludes with a rallying call to his part, saying:”It’s time to do something bold so that more millennial can obtain what is worth conserving.”
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Our government like a lot of others has been infiltrated with wef poison , quite literally
About time decent politicians, yes there are some believe it or not ,stood up before it’s all too late !
The housing market has been continually tilted towards FTBs - Help to Buy, shared ownership, SDLT holiday - and all that has been achieved is profits for house builders, a shrinking PRS & a 25% increase in house prices!
Govt interference always has unintended consequences - they should just let the market do its own thing.
Your government policy Ryan ? wouldn't bother too much there mate you lot are out on your ears in 2 yrs time, doubt I'll see another Tory government in my life time, you couldn't have made a bigger F up if you'd tried, as for help to buy the only thing that achieved was to increased developers profits, it did nothing to help FTBs, you lot really are that arrogant as to believe that the general public are thick enough to believe the BS you come out with
Unfortunately the general public are thick enough to believe the BS.
I agree with the above, except as Maluka a lot of idiots believe the government are helping FTBs and renters.
The Sunday Times yesterday said Blackstone is one of the biggest investors in private rentals in the UK.
Gideon George Osborne was the Chancellor who abolished mortgage tax relief for private landlords but not for property companies.
Among the numerous sources of income now enjoyed by former Chancellor Gideon George Osborne, is acting as an advisor for the Blackstone private equity company.
What came first? His decision to help property companies by penalising private landlords, or firming up on his lucrative association with one of the biggest rental property investors?
I think there should be more cheaper accommodation that people can buy. There's not much between a caravan and a 100k flat. If there was a sensible way to get on the housing ladder at a lower rate, then there would be less requirement to rent.
With all these single people these days, there should be cheap small accommodation they can buy.
There is such accommodation around, I know because I have recently purchased sub £30k property in deepest Kent. You just have to look around and reduce your expectations.
Millenials don't want to reduce expectations. They want a brand new warm flat in Shoreditch near bars, clubs and work all for less than £1k per month. And all new furniture. It's greedy landlords that are the problem :)))
But not all single people want tiny little places to live, I am selling one of my properties so my children can live in a decent sized house in a decent area…. Tenants are not happy of course but family comes first.
There have been self build schemes which I think were an excellent idea but it seems few of the young like getting their hands dirty or the hard work involved, they mostly expect shinny new turn key properties, well you pay a premium for those
I let high standard well insulated studio flats for less than £600 per month, within walking distance of HS1 and ten seconds walk from the beach. I must be one of those greedy landlords without realising it.
Well I for one are trying to do my bit. I have a one bed ex-rental house on the market at the moment and more houses to follow
Wicked landlord reducing the supply of rental property, you should be ashamed of yourself.
Thing is folk want social housing but don't want to live on a council estate!!
Don’t blame them… I was born on one and spend most of my working day on them, certainly don’t want to live on them.
I was born on a council estate in my granny's house and lived with her and then our "own" council house for 15 years until my dad built his own house.
Most of the people who were our neighbours also aspired to own their own house and many did do so eventually.
My perception is that the typical council tenant now is quite a different breed from the council tenants of 50 plus years ago and in those days there were "sink estates" where the dross ended up, but the woke brigade would not stand for such sensible actions nowadays!
Of course the government want more people to buy their own home. It means they aren't entitled to any help with housing costs.
Doesn't a tenant with children still have a small UC entitlement on an income of over £50K while a homeowner loses any UC entitlement on around £32K?
Why exactly is it OK for a homeowner's children to be brought up in poverty but not a tenants?
Nick, you seem to be a very reasonable landlord. Check out Landlord Zone / Paul Shamplina of Landlord Action who visited New Builds in Wembley to take a view on this.
His blog on this says a Studio is £1’500.00 per month + Bills and a one bed Flat is £2’195.00 pm. Which is true and I have seen similar Rents in other New Development as well.
I have a 4 bed Semi Detached modernised house, parking for 2 cars and a 30m garden currently rented fo £1’500. pm. This Property is on the same Road as this Development about 5 minutes walk away, so mine is also 5 minutes nearer Tube Station as well being 5 minutes other way.
What ever they are Building is certainly not competitive and unlikely to pass any affordable-ability check, in fact couldn’t be more unaffordable so why is Clown Gove driving us out.
Could it be something to do with how he benefits? Unthinkable I know but all possibilities should be considered.
I'm aware of the schemes. I'll check out the videos. I am in agreement that they are all over priced and certainly not for the pocket of the average person.
I can only see the Tories are now New Labour. They think this is vote winning policy. If it goes well they look compassionate (as Hunt says). If it bombs it's Labour's massive problem to sort.
Clown Gove is moronic.
John, my friend there is a sensible way to get on first broken rung of the ladder.
It called save and practice self-denial. I won’t bother with the list it too long.
Yes, I guess if you want to buy, you will find a way and make sacrifices to achieve it. If you want it all now, you just rent.
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