It is all about the tenant
I keep reading that landlords are being blamed for a whole generation being priced out of the housing market. Further reading claims that home ownership due to young people being priced out of the chance of buying a property, leaving them no choice but to rent.
Is it time that we accept that the housing culture of this country is changing and we are becoming a nation of renters not home owners?
Or is it that society has become very demanding? I recently read a survey that showed that just over a third of adults lacked the finances needed to purchase the type of property that they currently desire. The key word in this statement is desire. I desire a Ferrari, can I afford one, no, do I make a huge fuss about it? Nope, I simply have a car that I can afford with my income.
I am all for people being given the opportunity of buying their own home but let’s face it desire and dreams are different from reality. If you want to live in a certain area and you cannot afford to buy, then you have no choice but to rent. Interesting that the figure for the same questions jumps to just over half in London. Is that due to the culture within our capital?
There is a huge difference between not being able to afford to get on the property ladder and not being able to afford your desired location and property. Who do we blame for this, normally private landlords and the government.
However, if we are to become a nation of renters, then should we not look at those countries that have made the switch and look at good practices rather than have knee jerk reactions and try to squeeze private landlords out of the industry, which only results in more tenants being evicted, large corporate body buying the house and increasing the rent for the next tenant.
To drive my point home further, the same survey showed that over a quarter of people currently renting a house in their desired area, were considering buying a property in a lesser area to supplement their income. So it is okay for someone else to live in a lesser area as long as it’s not them.
What should the government do to address these issues? We clearly live in a capitalistic society so can anything really be done?