‘How do I survive?’: The renters and landlords losing out in the UK economic crisis - BBC Newsnight
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- Опубликовано: 28 авг 2024
- For many in the UK, economic turmoil is being felt most sharply when it comes to housing. As interest rates rise, mortgage payments and rents are inevitably following suit.
Newsnight got Radio 1 Newsbeat's Cost of Living reporter Sam Gruet to meet some of the young people bearing the brunt of the economic crisis, for whom the goal of home ownership increasingly looks further away.
A survey commissioned by the BBC reveals that two-thirds of renters have found it difficult to pay for essential costs in recent months.
Even in the North East, where housing is some of the most affordable in the country, property prices have hit a record high, with a typical home now costing £163,000.
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I have very little sympathy for people with multiple properties. You were happy as larry a couple of years ago when your tenant was not only paying off the mortgage of the property you owned, but lining your pockets as well. The minute the market dips though and it's "woe is me". I feel much more sorry for the tenant who is spending their hard earned cash on someone elses mortgage because the far too over-priced housing market won't allow them to save up a deposit high enough to get on the ladder!
Brilliantly and succinctly put. If you're going to treat housing like a business and investment then you need to expect downturns, as with any other business.
Are landlords supposed to do what then?
Let people living in their houses for free?
A lot of landlords have spent a lot of time, money and effort building up a housing stock. It’s a business and a way of life and don’t kid yourself, if you could do the same you definitely would. But yes tbf it shouldn’t really focus on them because business is business and you have to deal with the bad times or your business was built to fail.
@@caio5987 they shouldn’t complain is what I’m saying, they should have been saving the money for hard times like every other person has had to do. Tenants don’t get that luxury.
@@EddieHobbs03 and reducing the pool of houses available for other buyers who want to own their house. Being a landlord is a risk. It is never a guaranteed income stream in the same way stocks and shares aren’t. It is in a moving market.
I don’t get this about the UK - both me and my partner came to this country dirt poor. We’ve worked our way to some of the top jobs mostly through endless dedication and this is not even our first foreign language to have to figure out. We started cleaning and serving fast food whilst studying and doing everything we can to have outstanding performance at any job. The opportunities in the UK are immense but what seems to be lacking is community. When people fall down there is nobody to pick them up! Benefits in my country of origin are even worse but people help each other, we live together in one house if difficult to afford bills. I don’t understand this obsession in the UK for people to struggle on their own and their family members doing nothing? Why would people live alone as students or as elderly parents if the bills are going up? I’ve had friends live with us until they figure things out, no question about family. We continue to help each other and invest in each other’s skills in good and bad times. We lift each other up through thick and thin. The fact that this is lacking in the UK is absolutely bizarre, people seem constantly frustrated at the government whilst failing each other. There have been days where I couldn’t find a job, so my responsibility became to help all my flatmates by preparing their lunch, pressing their shirts and creating a budget for our shopping. Always doing what you can goes a long way, people see you and appreciate you. Times are tough but people are strong, they are just looking for help in the wrong places. I wish I could invite you all in my community! I’m doing as much as I can through charity but wish I could do more…
Lara...You are 100 percent correct. Particularly since the beginning of the 1980s, society has become more selfish, fragmented and families no longer care for older people, but expect the state to do it.
Sadly, Christian and traditional British values are under attack from successive Woke governments. Schools and Social services are also to blame for this. These institutions have taken away the parents accountability and responsibility for their kids and old people, so it is no surprise that society and the family unit have broken down
It's the same in America. It's because of the Anglo-Saxon/Protestant/Individualistic culture we have. It worked when the economy was great, but now lacking that extended family structure biting us in the backside
UK is one of the richest countries in the world. There is more than enough money to help people who don't have friends and family. I am happy for you that you are able to surround yourself with people who can help you go through thick and thin, but most people are not that lucky -and I think it is a bit silly to preach to people how they should find friends and family to help them out when they obviously don't have that ability.
Because British people are polite yet couldn't give a toss if their own sister / brother / child is struggling. Its me me me inthe uk.
What you said is wonderful. Unfortunately, the western culture puts more emphasis on the individual than the group. So people here grow up with the mindset of putting themselves first!
Great segment, it was just made 7 years too late. It’s almost as if the mortgage crisis has resulted in the media lifting up a rock they had previously ignored for the last 12 years to find desperate renters underneath, clinging on for dear life and they are like “oh! There are other people suffering too as well as homeowners!”
It’s all too little too late
It's done deliberately that way
I mean it is BBC. I think the main office is literally itself under a massive rock. And everyone who works there has their head stuck in a massive...well...I'll just leave that there.
no mate its 20 years too late...started with locals priced out with the rich buying second homes killing off villages nobody really cared, and the rich just saw their property values go up...feedback loop for banks/mortgages, then 110% mortgages, landlord mortgages - further pricing out locals, financial crises in 2007 - bailouts with printed money. Now the day of reckoning is here. Good luck, UK FOOKED.
Especially choosing people with green hair dressed in bones
Well Said!!!
Is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
@Antonio Alejandro Also noticed this a lot of folks are making huge 6figure killings in this downtrend, only just that such technques are mostly successfully executed by folks with indepth mrkt knowledge.
@Flora Quntinilla Mind,
if I ask you recommend this particular coach you use their service?
@Flora Quntinilla This recommendation is coming at the right time because i am literally grasping for straws atm! I looked up Amy Priscilla Raskin online and scheduled a phone call with her
You should not be dumping in a lot of money at once into this market (into any market). Look up "dollar cost averaging" (or I suppose in the U.K. "pound cost averaging"). That is the way to invest money slowly over time, and when you invest, buy diversified -- i.e., don't pick stocks of individual companies. Buy things like mutual funds or ETFs. Finally, be patient. You aren't going to get rich in a week, a month, or a year. But I've been doing what I just described to you, for about 25 years and I'm closing in on having $1M in my portfolio. Patience and diversification are key.
@Flora Quntinilla Dang that's fantastic you made 650K on that 10K investment. I have never heard of such great growth in a down market. By chance do you have a bridge available that I can purchase?
Anyone else shed a tear hearing 10 house owner Colin’s story.
That poor man.
He may well be poor in two years.
@@MCroppered that man might have to sell one or two of those flats of his and have to watch them go to somebody like that lady who wants to do the right thing by getting their own roof over their heads to have their own family, the poor fellow.
@@tommacpherson9456 were can I donate?
whilst i dont feel for him, ultimately if he isnt getting a return and the mortgages are costing more than he gets in rent he will sell up and the sad thing is thats 10 family's out on the street 😞
If house prices have risen so much, surely he could release some equity to pay the mortgage or sell some of his properties
The buy to let scheme is one of the reasons the rental market is in such a state.
Nope it’s not! The issues started when landlords were pushed out!
@@tomjones8715 I didn't say anything thing about starting anything, I gave one example of a contributing factor to this mess.
@@scoates9910 do how do you explain the current situation..,landlords are exiting the market at record rates. 40 percent over the last three years!
Even more so in wales! And guess what house prices there are up 20 percent over the same period!
If you want to see what will eventually happen look at Ireland!
You've lost me, what "buy to let scheme"?
Tenants will be hit first as rental supply drops, but that’s only temporary. In the long term lower house prices will make it easier for first time buyers and rents cheaper
Houses are to live in, not an investment opportunity. We cannot choose not to live somewhere, it is not some luxury we can cut in rough times. What would we do if people or companies just bought up all the drinking water and sold that back to us for a profit, as an "investment"?
Oh, wait - I think that’s already happening!
Well said too much greed which needs stopping
They already do sell water to us because its a service, water dose not get bottled or come out your tap for no reason . Houses are an exchange for a service suppled by demand simple as that, like a job.
@@mattbye9125 So, if your house is on fire or your daughter gets assaulted and you cant afford the firebrigade or police its just tough luck? If you are an orphan and you cant pay for your education you just dont get one? C'mon, even you cant be that thick. Basic human needs should be taken care of by the state, not for free of course but through taxes, to make sure that every citizen has access to the bare minimum you need to survive as a human being. Or do you really propose a Mad Max style free-for-all society? Because that is what will happen... If you make people desperate enough, crimerates will shoot up, the rich will have to fence themselves behind high walls because nobody will be safe anymore... Basically, what any 3rd world country looks like...
Duh? Have you been living under a rock ?
Ban ~3+ property ownership. Lock rent.
poor landlord might have to sell one of his 10 properties for a reasonable price to a first time buyer! The horror!
And what if he busted his arse to get where he is like many other landlords? Why should he have to give away his hard work to someone else?
@@captnkurt83 XD.
@@captnkurt83 "hard work", more like profiting from other people's misery
@@captnkurt83 well clearly not since hes paying mortgages off on them, its the high intrest thats affecting him so he doesnt outright own them hes just a go between
at the core of it all is excessive greed
Where are the tiny violins for the poor landlords
Too many rich people protecting their investment in property has lead to this. The only reason I've got a home is due to losing one of my parents, I work full time, and I honestly don't know how anyone could survive in my area paying £500 for a single room in a house share.
The rich are lazy? What about ordinary people with money management skills who work hard and save and get an investment home, they do not count do they. And then there is the lazy person who will not work or work hard enough to get ahead, are they are entitled to a home? And this type of argument goes on and on. Remember the old saying God helps those who help themselves, and can confirm that getting a home is a long term plan we all have to face reality and it needs proper attention, whinging is definitely no substitute.
@SolidGoldCEO Have you ever wondered the cost of living in Dubai emirate, let alone other emirates in UAE. If you search directly with the rental companies, you will be astonished. For Europeans, Americans, Australians will be paid beyond their imaginations and can live in state of the art style accommodations.
@@robertchaplin Get real mate, the whole system is wrecked
@@robertchaplin don't tar everyone with the lazy brush , you must be loaded and out of touch to say all that bs
@@northwestcoast yeah and when it collapses that muppet won't survive
We’re bleeding ourselves dry of money, all because our government can’t get their shit together! 😢😠
I disagree it's because we as a race are so divided and more bothered about image we are not family orientated enough. Look at other cultures here they are thriving compared to English.
additionally to building council houses we could convert a lot of them mostly empty or air bnb's back to council houses.
We’re facing the same issues in the U.S. Each year, rent on average prior to the pandemic was going up by about$100/month. Beginning this year it’s more like $300/month - I’m paying more now for half the space. I just retired and am dipping into my savings so much more than planned I’ll have to get a job to supplement. I don’t know how the younger generations are able to save.
Where do you live?....our rent has remained the same for the past 4 years
100 dollars a month is so steep holy shit. In my town it’s more like 100 dollars a year post pandemic
Simple, we won’t. I turned 18 earlier this year, though with the current wages and rising prices I can’t see how I’ll ever be able to move out of my parents house.
I’m trying to become more independent, so they do less for me. But there’s only so much one can do in this situation.
Add Canada to that list.
@@wiktorjachyra1869 Try moving and watch your rent go up 50%.
Buckingham has thousands of empty rooms.
REVOLUTION 🇬🇧
The Royal Family has nothing to do with this situation, if you want to find the cause then look towards people like hedge fund and bank managers.
@@tmmartinesq.6216 Yep. Hang the entire royal family! Start fresh!
And the royal family was given 100 million of taxpayer money in 2020, and has received hundreds of million more over the years to renovate it.
@@maywalker997 they’ve been taking our money for years and bailing out pedos they should have all their palaces turned into shelters
Lady at the end, has pretty much hit the nail on the head, when it comes to the current changes being faced in society. She is having to choose one single priority, and then sacrificing everything else, just in order to achieve that goal.
Oh shit. Someone had to make a sacrifice to get what they wanted? That's a thing is it?
Lady chooses a low paying career and then expects everything for free.
On the bike madam.
UK needs to stop sending billions of pounds on weapons to Ukraine when the people need it for winter. UK first.
UK aid to Ukraine is 1.5 billion. this is 0.05% of the UK annual GDP witch is 2.7trillion. Does 0.05% make you live better?
@@piotrtc3799 if it makes a difference then yes
Ukraine votes against the UN resolutions Condemning nazism and celebrates Bandera's birthday as its national holiday Zelensky sends his presidential guard to Orest Vaskula's funeral Azov trains Ukrainian children in forests
Ukraine is fundamentally, undeniably, OFFICIALLY a BLOODY NAZI country.
Don't look at Kitchener Ontario prices lol. That's an hr drive south of Toronto. And the avg house is over $800,000. Good luck finding rent for less than $1500 for a 1 bedroom.
Back in 1987 when I worked for a company in Kitchener, my boss, who was a regular worker was able to pay off his house by the time he was 30. Those days are long gone.
This is because ( like in the US ) hedge fund managers have realised that they can buy property out from under regular people and make profits when either selling it or increasingly they are renting them out, for much higher rents than the market reasonably would have reached. Hence only the upper middle classes can afford them. Which creates even more homelessness.
Yep. REITs aren't being discussed enough.
Goverment should intervene.no apartment should cost more than 500€
@@user-ci7vu7eo9w I don't think any rental place to live, should cost no more than 1/4 of a households income or one weeks pay. That way each person/family can pay for living expenses and save for a better future.
Matthew 6:24
“No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.”
@@angham3829 If you're not going to stay on topic, go away.
It's bad everywhere, I live in California and I pay$1,350 for a bedroom
move
@@elian958 ok boomer
@@elian958 oh. Also explains it tbf
Karma
@@elian958 clearly
Rent and the value of real-estate goes up 7% per year.
The problem is that wages did not. That has to go wrong at some point
Fundamentally lower wages are meant to provide increased employment but when there's no growth on the company it backfire. This is why to survive companies need to expand now.
@@robertagren9360 do you know a company that has more employees than they need just because labor is cheap?
Best - or worst case, companies postpone purchasing machines or robots because labor is cheaper.
Train people to be more efficient so you can pay them more money.
- yes- companies have to make more money to give employees more money.
@@CHMichael
Yes but it doesn't provide value and the outcome is recession since when you cut the source to consumers the demand decline and we'll get a reverse effect of the recession where there's product and no buyers. The products become cheaper as the demand decrease but eventually this will lead to other issues along the way since everything that is given is taken away. So the companies employ people to make an excuse to give them salaries and these companies are found owned by the government. I can tell since the second largest company is a janitor company owned by the government. This will escalate as machines are replacing humans and I see today how in groceries they invent problems to give an excuse to hire people.
@@CHMichael
This is why small companies need to expand to prevent central banks. They earn money and think this is fine but they haven't gotten to the point where they live in a social economic issue that they have to choose between hiring people or be robbed by people.
@@robertagren9360 how does real-estate justify going up in value? Actually it's older and should cost less.
( I owne my house so I'm all for it, but it still doesn't make sense)
Here is s concept. Money is intended for the exchange of goods and inflation is the penalty for not making that exchange. If cost and wages rise equally there shouldn't be a problem. - makes the world go round
No way out, only going to get worse, Can't believe it's so expensive to live on earth 🌎, Even when you die you pay for your funeral, We pay to live on earth nothing for free.
You don't have to have a funeral, don't buy into it, just get cremated , find a container yourself to put your ashes in and have your friends and family gather somewhere and celebrate you and the good memories You don't have to follow the crowd
Cremation cost around $3-5K in the U.S. So you still will pay.
Who says you need to have a funeral
Long old saying BORN FREE TAXED TO DEATH
Do you expect food to float into your mouth? Do you expect shelter to manifest itself magically by itself? I dont see how you would expect things to be 'free'. Of course you pay to live, every animal pays to live. Compared to the rest of the animals on earth, I think we have it quite good at the moment in terms of work we need to do to live. Most animals are 'working' 24/7 in order to survive, that is life for most animals on earth. We have done very well to master our environment by cooperative effort.
I have been saving up for a few years now and have a got a good lump sum for a deposit. But, with the cost of houses, I am now buying a detached house in Sweden with a 10-acre forest. No mortgage, big cities an hour away, and I can live off grid. To many people on this island, not enough houses right now or being built, & the rich buying up all the houses for their investment portfolio.
Good on you and weldone.
Not surprised your abandoning rip off Britain.
In my town the council have built houses but still no one can afford them because the council has doubled the rent on them.
What council is that?
@@jimthompson9370 reading
@@astromania5253 - thanks. Seems like poor economic planning.
@Boxing Truth no problem here I paid my mortgage.
@Boxing Truth - no. Higher wages will only increase inflation. The supply of properties is what’s required, among other things.
The same thing is happening in the USA. Instead of Section 8 housing it's called Tax Credit communities, you'll see newer developments but most mid-level renters make too much to rent (I know that sounds absurd) in tax credit communities but not enough for "luxury" housing. I'm leaving where I am renting now because the company I lease from wants $225 more per month on the next lease renewal. It used to be like $25 and $50 increases per annual renewal, now many folks in the USA are seeing $200+ increases and that's a lot of money for many, it cuts too much into the budget with everything else inflated. Just like the landlord in this video, in USA the tax credit communities get government subsidies. To make matters worse homes are so expensive now, the few homes in the lower price range end up with bidding wars and corporate cash bidders always outbid the conventional rate folks. It's tragic and criminal.
Remember the 2008 "credit crunch" and HUD was "funding" these corporate house buyers with almost 0 percent money. The Federal program with Housing CREATED and/or made the rising issue a lot worse. these corps. could AFFORD to sit on empty houses all along the "Mormon Corridor" from Canada to northern Arizona and reap tripling of value over just a few years. Then buy more houses. I drove down the I-5 from Canada to our compound in LA, then back up the 93 through Vegas, Idaho, and Montana. Five years ago there was nothing to rent except for some Mormon communities and mining towns that have been dying for 150 years.
This is why I thank God that I live in China. 🇨🇳 I used to live in America. Now that China is no longer so drastically poor, it has become a much better place to live.
How to survive: tell your landlords faces "you'll get your rent when you fix this damn door"
That's not how it works. You can be evicted in less than 2 months.
@@itisabird i missed the part where that's my problem
@@potatomatop9326 If you was a renter or anyone you care about are or become one I'm sure your tone would change. Do you want the homeless rate to go up.
Look at some cities in the USA with their homelessness, do you want the UK to look something like that?
@@itisabird Or you can woke up one day with drug addict roommate what was placed by lovely landlord
Not all landlords are wealthy land barons you realise that right? How can a landlord pay for repairs if the Tennant isn't paying rent? See how it works?
Housing went stupid 40 years ago, its just that most people forgot that housing wasn't supposed to be a gigantic, impossible expense for the remainder of your life.
My grandfather bought his first house for the equivalent to £15,000 and before that he rented for the equivalent to just under a days work and there were no property taxes either.
The only way to do that now is to ignore every relevant law and regulation that exists and then dodge taxes like the plague..
Why is the presenter so cheery talking about the rental crisis?
Cos he is a home owner
No sympathy for landlords
My rent went up by 20% this month. I’m disabled on disability support. And he’s selling too. It’s unaffordable. But there’s no where else !
The law says max 10% increase a year
You need to get a job then Or be homeless.
If you’re under 30 then I feel for you. If you’re over 30 I’d ask why haven’t you saved for a deposit on your own place.
@@mrb5394 You any idea how hard it is to get a job with disabilities? Don't chat shit.
Same in Ireland
Poor peoples who cant afford is important to rich who own this houses they hold property price high, same with everything, lowering the price where peoples can afford means lowering their passive investment value
What about landlords ripping out tenants with more rent as per the market demand
What about them? Interest rate increase, rent increases.... standard.
1:50 - Speaking as an almost boomer with a nice house paid in full. That landlord is full of crap. The problem we have is that there are too many landlords. We need to get rid of those middlemen leeching from society. Even if he was not raking in enough to cover the full mortgage costs each month he can flip the house and still make a large profit in 5-10 years. Who cares if he over reached and bought 10 properties. Sell them. There's plenty of people who need to buy right now. And there are plenty of other landlords raking it in on the backs of the working masses. No sympathy for that man at all. Go get a job you leech.
And yes the interest rates are high, and they are likely to get higher. Interest rates hit 12% in the 80's so lets hope for all our sake that does not happen again, it would be a disaster. And who controls the interest rates? Bank of England. Who appoints the people making those decisions? The government. Might want to consider voting for Labor folks. The Torries want to snap up a whole lot of cheap housing in the next few years. You wait and see. Two more years of this at least.
*Why do students expect to be financially sound? The state is lending them money for their education, with no deadline on when to pay it back, they're on universal credit to pay for their day to day living (more free money) and they have no experience in the job market with which to justify a higher wage demand. Why would you expect to NOT be struggling in those circumstances? They'll all find the money for beer and weed though.*
You pretty much described future BBC employees.
For starters -
Don't dye your hair.
Don't buy make-up.
Don't waste your money on tattoos.
Don't buy fancy toiletries when a bar of cheap, simple soap and a £1 bottle of shampoo will do. In fact, just the bar of soap will do.
Fix taps if you're paying water on a meter.
Open a fricking window to stop damp encouraging mould to build up - it's not been so cold you have to shut them all up yet! I'm in Scotland and we haven't even had a frost yet.
Wear something warmer than flimsy cotton just because you like the skull pattern. Jumpers and wool - cheap in charity shops.
On another video, I saw a man complaining he couldn't heat his house - again, he had dyed hair while he and his girlfriend were spending £4.70 each on bus fares to get to her parents to wash the baby.
Now...how much would it cost to switch on a kettle for a couple of minutes? Not £9.40, I know that!
Meanwhile, a bunch of people elsewhere, also complaining about the cost of living, were glugging beer and playing bingo.
Get your heads into gear:
You can live without alcohol, cigarettes, hair dye, make up, hairdresser appointments, tattoos, and visits to other family members (send them an email).
Socialise on a pre-planned walk with your friends/relatives or round each other's houses, taking turns to switch on heating. And play board games instead of gambling your money away on things like bingo and lottery.
Families - live together, instead of having one or all your kids trying to scrape together living on their own. It's obviously not the time.
Bring granny into the home, so she isn't trying to cope on her own. Her additional pension will help your costs.
Everyone has got something they can switch off.
My neighbour complains about things being tough - and he's 'still' out there mowing his lawn once a week and driving absolutely everywhere. Him and his wife never share a car, and they never try to plan a one-trip-does-all to help themselves (which is what we do in our family. We plan when we absolutely 'need' take the car, drive it to the very edge of town, and walk the rest of the way to the shops with a shopping trolley. That saves petrol and gives us some warming exercise).
I wondered if this was a joke at first.
Yes, if you’re struggling for money it makes sense to cut back on non-essentials and live more economically. I myself am a very frugal person, rarely eat out, buy second hand clothes etc. But I completely disagree that poor people shouldn’t be allowed even the most modest of treats. Going without the occasional chocolate bar or bottle of beer I allow myself is not going to enable me to budget my way out of poverty.
And seriously, your response to someone having mould in their apartment is to ‘open the window’?? In frigging northern England? Why is the onus on her and not her landlord who is struggling far less?
Ah no. That poor landlord with his ten properties. Did anyone else notice that sparkle in his eye when he spoke about the good old days of throwing tenants out when they couldn't afford rent?
@Boxing Truth Very and thank you for noticing 😍
Remember the good old days when you could throw out a tenant after a whole year of not paying rent who's trashed your property?
You sir, are having an emotional reaction to something you have no knowledge of.
Pay your rent. Shut up like a good worker.
we are facing the same issue in hk, we actually living in the small space for family include child, 200 feet square containing 4 people, it is actually happen in hk, In this worst space, we also have to paid around 200 dollars per year,those housing problem is still happen among us.
The guy with 10 houses, rent is not supposed to be so high it covers your mortgage and rates and fees. You are the one buying those houses, the renters are not supposed to be buying it for you. Rent is supposed to be less than cost of buying as with buying the mortgage is only for length of the loan and you owns the house. Traditional idea is you rent while save up to buy or continue to rent because you can't afford to rent. If those 10 houses are forced to sell off then the new owner would still rent out or live in them.
Man please,I came to the Uk 7 years ago with my wife we had nothing, today we own our own house,my wife has a great job and an electric car,I have a new van and I am self employed.
I get that some people can not work but People who don’t want to work should not complain about anything wrong with this country especially on TV.I know so many people milk this country to live of benefits,these people should go see what’s it’s like in Africa when there is no work
If I lose my house today I will work my But off to provide for my family.Cronic pain,depression flipping half dead dying of cancer,you won’t find me sitting complaining
Alice is so stressed about money that she spends it dying her hair green. Priorities, people!
How will people know she's _woke,_ and supports the latest _thing._
Ay yes that £5 box of hair dye every month must really be bankrupting her. Should she not be able to make herself feel nice because shes struggling?
that's a stupid comment
@@tombullard123 I agree, it's pety to mention hair colour. Is she allowed ketchup on her french fries? LOL
1:56 these landlords with multiple mortgages should not exist. Simply put buy to let mortgages should not exist. That is what is causing over inflated housing prices.
I don’t see house cost rising problems so far in Japan. However cost of commodities are gradually increasing every month even our salaries are not rising. We are struggling to live our lives as well…
Oh my, poor "joe average" landlords, i want to donate!! thank you for bringing this to our attention, BBC!
John 10:10
New King James Version
10 The thief does not come except to steal, and to kill, and to destroy. I have come that they may have life, and that they may have it more abundantly.
The lack of affordable housing is and always has been a bigger problem than energy, even if that's a topical issue. We desperately need more modern apartment buildings and a better balance between houses and flats (as they do in Spain, Japan, and so many other countries). The few towers going up in London and other city centres are only for the upper-middle classes or super rich.
I built several high rise concrete towers in Vancouver, BC and would joke as the units got smaller and smaller than they would come with a japanese girlfriend, as that was the only type that could live in that small a place and not kill you in the night. My son just built a "lane way" home on my wife's lot. And yes, he speaks Japanese.
As a millennial I'm ready to tear the entire system down as without the chance to ever own a home whats in it for me to keep things the same and let the greedy and corrupt steal everything from us? Why am I working if I can't afford a house?
I want to start a family of my own yet I'm in my early 30s and still living with parents. I have saved a deposit for many years and still can't afford to buy a house. I can't start a family without a house as my parents house is very small as it is.
I just feel my generation has been scammed and stolen from with all the opportunities taken from us. What kind of future are we leaving future generations? Will there be a future generation the way we are going?
HongKongers: These are rookie number
Oh no won't someone think of the poor landlords who can afford to buy multiple properties (removing homes from the market that young couples could buy and driving up property prices). They're the real victims in all of this economic turmoil we're currently going through.
Sadly that's everywhere, here in Germany housing prices are absolutely disgusting, just to rent a tiny room and share a flat with 3 others costs you nearly 7-800€/month, just for a goddamn room. If you wanna rent 1-2bd flat are going for 1000€ where i live now. And its impossible to even consider buying it, prices are around 200-300.000€ We, the younger Generation got seriously get screwed over by the previous ones.
That's the democracy you chose!!!
@@heather333 Does India offer residency / work rights to UK electricians??! I don't think that plumbers are the ones struggling to buy UK property these days. Even if they could move abroad, many developing countries don't allow foreigners to live there / buy property except - in many cases - they are already very well off.
Russians are running successful restaurants in india's leading tourist destination Goa.
Get rid of the conservatives
Boris will sort this mess out very quickley
We need him back now
He'll bring his eugenics advisor Andrew sabisky back.
Pfizer already admitted that it did not test the original vaks to see if it stops transmission and so lockdowns that ruined this country, psychopassports for vaksed dumbdumbs and abuse of unvaksed was simply evidence that nazi swine Johnson, that passionate zionist, is just a nazi psychopath.
Oh, booster was tested on 8 mice and I'm sure you are looking forward to your appointment
Have the landlords considered not buying so much avocado toast and Starbucks? Or pulling themselves up by their bootstraps perhaps?
Jealous are we?
And that friends is what happens when the rules of the market rule over people. Congratulations to the British for protecting the vulture funds. You are learning the lesson.
Most of our private rented sector is owned by self employed people who buy the houses to provide a small pension for their retirement. This has absolutely nothing to do with vulture funds.
keep voting Tory and this will get even 'better and better and better'. Tories favour a rentier society. the UK housing market is a prime example. unsustainable, unfair
Have you got any idea how the Tory’s have screwed landlords?
Labour won't fix it either. Tony Blair built less council houses than Thatcher did.
A great deal of MP's come from wealthy backgrounds and have investment properties in their portfolios, they have no incentives to make changes against a system that lines their own pockets.
@@maywalker997 you are deluded! Shall we start with section 24?
@@tomjones8715 good 🎉🎉🎉🎉
Something really needs to be done.
imagine what hardship we would be going through if the Conservatives we're so kind and caring as they keep telling everyone they are.85
My kids were all pushing 30 when they flew the nest. They had nearly a decade of hard saving each. That was the deal, pay me no board and lodgings, on condition that you get yourself financially sorted and don't end up a slave to private landlords.
Luckily they all accepted the deal and are all on the housing ladder with reasonable interest rates because they had good deposits.
What do they do for jobs? This seems like a long time. Do you live in the South?
@@sirianofmorley They all have jobs around the average salary. Living in the north means housing is generally much more affordable, especially with a 20%+ deposit.
You're a good parent and your kids were lucky you did well. Ideally all parents would try to give their children headstarts in life but not every parent can or does.
This is good parenting and you’ve likely put your kids in a position to thrive long term.
Smart Mama teaching them that
I feel sooo sorry for Colin. we should skip meals to help the guy out. who's with me?
Don’t expect billionaire Richi with no working class friends to feel your pain, people.
*Rishi…….. no wonder you’re in a low socioeconomic class.
£1000+ a month before you can even think about buying food.
It's an absolute scandal.
£163,000 ($252,000CDN). Here in Vancouver that would barely buy you a parking spot never mind a home.
Wow, is real estate really that expensive in Canada?
In London it is £600.000 too, it is just in the North of England.
@@olenabi average rent in Toronto for 1 bedroom apartment is 1900 canadian dollars. Avergae house is 1 million
@@toddlavigne6441 that's insane. We pay aed 50,000/year (USD 13,600) in Ras Al Khaimah (UAE) for a spacious 2 bedroom app. with 4 bathrooms. For this money we could also rent a nice 2 bd house...
1:55 When he says pay the Building Society, does he mean pay them for the mortgages on the properties that he is renting out?
Yes, exactly that. All landlords take out mortgages under the Buy-To-Let scheme.
Greed I know landlords that completely take people for granted.
Yes he does. One time I had a new landlord whose agent / boyfriend was rude me on the phone. I complained to the brains / wage earner in the relationship and was told as an excuse that I had to understand that they were 'making a loss' on the property because the rent I was paying didn't cover their mortgage 100%.
The Government needs come up with a law to stop this high rent thing
The government bought out a law that caused it you fool 😂 are you really that gullible! Look up section 24!
Totally agree 💯
They’re probably being -bribed- lobbied by foreign investors, why would they wanna help when they can bend down to corporations, look at the energy prices situation, they pretty much done nothing and bent down.
Then they'll have to pass laws to stop mortgage rates from increasing, then pass laws to stop banks from raising interest on loans or new mortgage buyers, then pass laws to stop increases in other tax.. etc
Not feeling sorry for those who voted for tories!
You can’t claim universal credit if ur a student, something fishy
No one speaks about the HMO licence that made it almost impossible for sharers to rent a property. Only families are accepted to most flats.
So those with property can get mortgages to buy more propertys so they can rent them out at a profit and increase their assets by owning more real estate and force people without assets to rent at high prices because of housing shortage caused by landlord monopoly on housing, which also forces house prices up making them unaffordable to ordinary people.
Yes, this is the way
Exactly. Landlords are parasites. The housing crisis could be solved by taxing all realestate speculators and unused homes as much as possible and and using the money to fund huge housing benefit payments to all that need it.
I’ve never understood this view, you’re just cherry picking the bits to fit your view.
That landlord is providing rental accommodation to someone who can’t afford or to buy or chooses to rent, they do exist. They bought the house at the market rate. If there was more landlords, the rental price would drop making it less attractive for landlords to buy. The whole thing is self managing. If you genuinely don’t like landlords owning property, the best thing you can do is buy a property. That reduces rental demand. If you can’t afford a deposit then you are a renter until you can. That’s what the facility is there for. You’d still need that deposit if you was buying and there was no rentals. Difference is you’d have nowhere to live.
What you’re really annoyed about is the cost of houses in your chosen area. If there was a lot more supply then the houses wouldn’t be worth as much so perhaps your issue is with the lack of available housing in that area. The percentage of landlords will usually match the percentage of renters otherwise the landlords would just sell up.
So if you’re a renter and you don’t like landlords owning the houses, stop being a renter. Work hard to achieve that goal because it’s what you believe in.
Very true, earlier people used to rent out their houses only to generate income from a property they already own. But these so-called new "landlords" don't really own the house because they are still paying the bank. We have this problem because of uninhibited low interest rates. People just started to buy multiple houses in mortgages and demanding renters to pay to cover that mortgage + profit. Why would a renter pay more for a landlord to own a house if they can own the same house buy paying less?
Govt should place a limit on how many properties a person can own. That will slow demand and let house prices stabilize because then renters will have a chance to afford a place. Govt should also heavily tax house prices beyond a certain limit just like they do with our salaries.
@@mr.uthamaputhiran9790 so when that limit causes all the private renters to exit the market because they legally have to what happens to all the people renting those houses? If they couldn’t afford to buy before I doubt they will be able to buy now. House prices won’t suddenly drop because landlords don’t own them, you still have the same amount of people requiring a house as before which is the demand. Whether they own or rent that number is the same this house prices stay the same.
If landlords owning the properties was the issue with a rising house price market this would make sense but it just isn’t the case. It’s the amount of houses available vs the demand. All you’d do is force the rent prices to sky rocket because there aren’t as many landlords.
"You will own nothing. And be happy".
- World Economic Forum
at 2.50 : "A typical home here costs £163,000" Well I live up here near Durham and my house is on market for £79,950 and it certainly IS a Typical home here i.e. a miner's cottage two-up two-down, mine has the benefit of a double storey extension so the bathroom is upstairs. You can get houses up here that are much much cheaper than £163k !!
Considering moving up your way, we're in the south and struggling to pay private rent in a two bed flat and we both have decent incomes 🥺
@@bunny-vo3qs sorry you are seeing hard times ... the rental market here is quite vibrant, many empty homes, and if you wanna buy my house it's on with Dowens, Bishop Auckland branch 😀
PS: I moved up here from Essex.
The start of the video: My impression is that there is generally a very low standard in British rental apartments. Or am I wrong? Robertsen, Norway.
Houses are for living in not a source of 'investment'. There are always people who think they have the world beat.
Someone has to pay for the building.
Do you say the same about food, and clothes?
Ukranians have no trouble being able to afford UK houses. Why should British citizens have trouble?
Lol
Great point!
Because swine Johnson is a passionate zionist and a nazi
Ukraine votes against the UN resolutions Condemning nazism and celebrates Bandera's birthday as its national holiday Zelensky sends his presidential guard to Orest Vaskula's funeral Azov trains Ukrainian children in forests
Ukraine is a nazi country
That is why.
me and my partner are now homeless and living in the car after a "no fault eviction" it was our fault alright, asking the landlord if we could have double glazing after 5 years of freezing. a man came around to measure and quote the windows, 3 days later we got our eviction notice. With no money and currently between jobs at that time we did not have any extra money for a deposit on another place or the money to move e.g. hire a van. it is very hard to get a job when you have no address! we dont have any C/O address we can use, no family and friends are not in a position to help! Ive got a stomach ulcer and hernia that need surgery, also have arthritis and my partner has sleep apnea. the council has said we are only band D so no help for us as we have to sleep in the car while they let all these immigrants come into the country and put them into hotels and the like. This country is fucked, and we have lost any love or respect for it. So much for winning the war, i bet it would be a better place today if we had lost the war, after all its all this back door bollocks with the WEF that has caused this!
I'm using a friend's address as my care of. Simply told my now employer I'm between addresses right now and they accepted the address, employers know how bad things are right now. Hopefully you can find one to accept a care of address, my previous address is still on my I.D
Vancouver rental or even buying is expensive and everything else is also expensive. $2,400 and buying a house cost around $1,155,300 average if you want to live in nicer neighborhood with best views and less crime better school less problem from the community. Then you pay more for a home. Rest of Canada also cost more than yours market. There is always inflation year after year. The only way is to grow your money.Your salary can never cut it. Not mention starting a family or even having a pet.
I'm sure Colin can just sell 1 of those 10 properties and function again just fine.
Greedy Boomers at it again moaning
They are the problem.
That's what capitalism is all about. Profits. Nothing else matters.
It’s nice to know that you work for free.
@@jonpierson559 I make lives of people better not worse.
@@andreypetrov4868 and all for free. What a guy!
@@jonpierson559 I earn my money generating added value.
@@andreypetrov4868 Wow! That sounds just like capitalism!
That landlord looks like Ben Dover
This is ridiculous, people struggling to make ends meet in this day & age,wages not sustaining people
Must feel pointless, and affecting their mental health.
If u want to save money one option is to live in a large van but first find a save place to park brilliant if the greedy scum land Lords keep demanding sky high rents this is the only way forward or even better rent caravan ❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️
Its not easy to be a landlord but if you decide to go into that business then its on you. It can be a nightmare so you would be very nieve to think otherwise. When landlords start moaning it always makes me laugh. Its like a shelf stalker moaning about working in asda. You made the decision so you live with it.
Agree entirely. It's like taking a job as a shelf stacker in Asda and then moaning you can't afford £120K for a house.
@@sirianofmorley agreed. Some jobs have shit wages and they should change but they won't.
Yes eyes
my sister is stupid she brought 3 houses in Liverpool, house prices hasn't gone up as people in Liverpool mostly rely on council housing, Asians in London are booming.
it's just the beginning, winter is ahead.
UK winter is mild, nothing a jumper and hat can't solve
It's almost as if the government only give a damn about the 1% and couldn't care less what happens to the peasants.
My rent here in the US jumped from 2591 to 3334. It was basically madness no matter where I looked.
Then move
@@captnkurt83 wasn’t a complaint just stating how much it went up. I’m still living here it’s fine.
Same in Ireland and houses are dumps !
@@sarahmc8309 Oh I have friends in Ireland they've told me the stories a lot of em in Cork and Dublin
So hard nowadays
I find it so entertaining when people blame landlords but they are not the problem at all. Basically read these comments to keep track of how dum the general population is.
A lot of homes need to be nationalised and turned into councils housing again energy needs to nationalised I can see by this and my gf how lucky I am to live in housing association
It’s completely unsustainable. We think the cost of living crisis is bad, wait for the next housing crisis!
She won't say no
Landlords 😳
More land, Less Lord
2:00 LOL why is the UK government paying 475 per month???The government should build apartments and give free housing to people NOT paying rent to private individuals.Why are rents going up? Because the government is paying.Here in the EU there is no such thing, the government does not go door to door to see who has a house to rent to accommodate the lazy and poor...the poor get apartments and houses that are owned by the government never by private citizens. Private citizens rent to people who can pay rent and if they stay empty for too long, they sell them, not horde them like the guy in the video because there are taxes and if the property doesn't produce, why keep it?That's why you're going down UK, benefits upon benefits which fuels inflation and reward the lazy...you will feel it sooner or later nothing goes on forever.
Combine self running generators and power walls in homes and businesses for seemingly endless clean energy everywhere all the time. Have a mechanical direct connect to the axle of EVs and solar, to super charge them. No more plugging in. And those are just a few technologies we already have to use to improve society greatly.
Don't worry, folks! A handful of people are going to choose another prime minister for us. Isn't that thoughtful? Perhaps Boris Johnson Mark II can pull a rabbit out of his hat and fix our broken nation.
First thing y’all do is close those goddamn borders and don’t let another one of those sandbox cockroaches in! They won’t integrate into your society and will breed and leech off welfare.
How interesting is it that raising interest rates reduces the amount of homes that people can build, causing an even larger shortage. The shortage drives prices up.
Solution to the UK rental/housing crisis in a few easy steps:
Ban landlords.
Restict property ownership to two residential properties per adult or per household max in the UK - only one allowed in high demand areas such as London.
Put the freed up rented accomodation onto the housing market with favorable mortgage offers given to the current tennants.
Fine landlords heavily for the damage they have done to society and put the money gained into constructing any needed remaining residential accomodation.
Housing problem in the UK solved within 24 months.
Skills of the private sector strike again. Loving the FREEDOM and quality of service this competitive sector has delivered. Thank God we are not building any new public housing, the thought of no one making money out if it, it would be awful.
One point Tories have gained credibility is in their ability to convince people that what they want is simple 'a chair/position in the cabinet' preferably as prime minister if possible, so all their discussions and dreams are around that. They are not very much bothered by what's happening to public.
Leaning relaxed and chilled against a tree as a reporter. Now I have seen everything 😂
he's a chilled out entertainer.
work? sure, but people, laughter yes please.
On universal credit yet she tells us her wages are too low….
That’s the problem !
Look and listen, Green hair cost money, fashionable clothes cost money, running her car cost money. These are things she chooses to do to reduce her bank balance but it seems she dont like to spend money to put a roof over her head??
@@lenholloway4390 so you think the money would be better off handed to a fat landlord so they can swill wine in benedom three times a year.
Money she spends on her clothes and her hair pay people's wages and keep businesses open.
Stop the highstreet being borded up.
Money sat in a londlords ISA. Stagnate the ecconomy and force the government to print more money.
@@paulgibbons2320 Only a biggot can make a statement like that. How many landlords can you name that swill wine in Benedorm three times a year? I bet the ansewer is NONE. Get your head out of your ass and look at what is really happening. If all private landlords were abolished there would be a much worse housing shortage. The value of your house would drop. Where would all the private tenants live? remember they cant rent privatly cos you abolishised it, The govt are not building houses for rent so maybe all the private tenants will have to buy a tent each.
Good plan of yours ..... not
UC pays enough for those green hair extensions doesnt it.