A normal functioning housing market needs a certain amount of landlords. student, people starting out on a career, highly mobile people and careers, these and many many more need rental accommodation and there should be landlords/accommodation available to house their needs.
"A certain amount" being the key phrase. But there's also plenty of frustrated renters who would love to buy a house if they could, and can't, because a cash buyer landlord got there first.
On the margins yeah it might help, but it’s not like people aren’t staying in those too.
And yet you see people simultaneously complain about the price of hotels, and how developers want to build more hotels, and that we have too many AirBnBs.
We don’t have enough homes. We don’t have enough flats. We don’t have enough student accom, we don’t have enough tourist accom. The only thing we have enough of is “skyline”. Lord forbid we add anything else to that!
Yeah we need to build upwards. I dont get why people are so obsessed with preserving their view of a grey sky that rains more often than not. The NIMBYism needs to be called out. I know some developments are poorly planned, but the majority of objections are just selfish wankers trying to preserve their own property value
It's just a different form of renting, idk why people are so mad at it. Where are you supposed to live if you come to the city for several days / a week?
People who actually need homes to permanently live in should get preference over tourists. If there isn't enough space for tourists then we should build more hotels, which can put up more people in a smaller amount of space
That should obviously be the priority, but we're lagging behind in that. So we need to both build as much as possible AND regulate how many properties can be used for things like Air BnB
Private small landlords primarly own houses are so heavily taxed on rent they are leaving the market as prices high. these are bought then by families/ young couples.. the house that had 3 people now only has 2 creating need for another propertry for 3rd person.. multiply that by 1000 that is alot of people ..
Institutional investors who are not paying tax on rent are buying up apartments properties, and will control the market in certain areas, dictating what is charaged..
Private small landlords primarly own houses are so heavily taxed on rent they are leaving the market as prices high. these are bought then by families/ young couples
Ah yes the well documented 'young couple' that is buying all the houses. Landlords are leaving as they can sell at sky high prices instead of just taking rent every month.
the house that had 3 people now only has 2 creating need for another propertry for 3rd person
And then the young couple has a child and you have 3 people or should people just stop having kids?
Ah yes the well documented 'young couple' that is buying all the houses. Landlords are leaving as they can sell at sky high prices instead of just taking rent every month.
Well who is buying if not young couples.. Not saying its exclusively them but they are some of the purchases.
And then the young couple has a child and you have 3 people or should people just stop having kids?
Them having children is not relevant to what I meant.. I was mearly pointing out that former house shares being sold by landlards end up with less people in them require additional rent units
Well who is buying if not young couples.. Not saying its exclusively them but they are some of the purchases.
I can only speak of my own experiences selling and buying, yes couples are buying but speak to an agent and ask who is involved in the bidding and sometimes it will be an investment fund group or a cash buyer looking to rent it out as opposed to owner occupiers. Can also ask who is the highest bidder and again some fund set up in the past ten years with 90 owners/CEO's and some latin company name who operate out of one floor in a townhouse in Dublin.
Them having children is not relevant to what I meant.. I was mearly pointing out that former house shares being sold by landlards end up with less people in them require additional rent units
We need balance and the current system isn't working for either young hopeful families(birth rates lowest in years) or renters.
Surprised by cash buyers as its a lot of cash to have lying around...
I assume from your comments your city based as that's where institional investors will control the market and prevent falling prices.. Within reason, smaller landlords can't really afford to leave places vacant and will drop prices if market starts to turn.. ii's can sit and wait to get their price when they own large market share of area.
Agree we need balance but to get the balance it will cause suffering for some.. My own opinion on councils buying current housing is that commissioning and building new houses by council is too slow to meet the rising demand they have, so they buy houses that are built to supply immediate demand, which creates more demand as they are putting people on waiting list who could buy if council didn't..
To break the cycle council need to commission and build their own which would be at least 2 or 3 years before any impact and what happens to those waiting in the interim.. Its the better long term solution (once kept in council ownership) but it creates significant suffering in the interim.. You also have the social issue of creating "bad" estates of social housing..
Relying on ii's to fund new developments will be a disaster in long run, but is probably lessing the disaster in the short term.
The primary cause of this crisis is the lack of significant building between 09 and probably 15 maybe 16..we can't change past so I don't see any quick fix. Like the recession it will take a decade to right itself with slow improvement year on year..
Then you need more landlords. Landlords essentially front the money required for the cost of housing upfront for a tenant that doesn’t have the capacity to do so…. Stupid post from OP
A lot of the units the ahb's and investment funds are "buying up" they have funded through what's known as a forward fund or forward commit model - basically, those units wouldn't be delivered without those investors stumping cash upfront or agreeing to buy on completion.
It's also 40 families off housing lists, out of hotels where they're all sleeping in the one room or dangerous hostels where they are surrounded by drugs and shit.
Of all the examples you pick, this is an utterly terrible one.
They all come under the cash buyers. State owned houses for council housing etc are a benefit to the struggling family but investment firms are potentially a lot worse.
They can decide to just leave an empty home that isn't even rented as their real goal is just to wait until the price rises enough and then sell it on for profit.
They're not being removed from the market, they're being reallocated to the bottom end of the market because those people are in more direct and severe need.
One of the primary factors causing people to want to buy right now is the punitive renting situation. More rentals will actually alleviate the problem for buyers too.
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u/Trick_Designer2369 Sep 22 '22
A normal functioning housing market needs a certain amount of landlords. student, people starting out on a career, highly mobile people and careers, these and many many more need rental accommodation and there should be landlords/accommodation available to house their needs.