Yes, if they are creating a problem for everyone else. Other countries have rent control
Quote shimmee
Try looking a bit beyond what they say and check what they do. You'll be hard pushed to find an economist that thinks Osborne has been doing a great job.
This is correct and truthful but the gullible will believe the daily mail etc and believe it all
I'm guessing that as you have started this you don't know about the BTL tax.
Interesting, on what basis do you claim that "You'll be hard pushed to find an economist that thinks Osborne has been doing a great job."?
You really should do stand up.
This post is comedy genius.
Rent control is certainly fairer than what they have done. I'm guessing that as you have started this you don't know about the BTL tax. From 2017, landlords must pay tax on the money they have borrowed to buy the investment. So, for example, if someone borrows £200,000 to buy a house for £250,000 and obtain a 5% yield in rent:
Their rental income is £12,500 per year.
Their tax (assuming 40%) is £5,000
And their mortgage interest (assuming 4% for now - but this will go up in future years) is £8,000.
So their expense is greater than their income. These are not ridiculous figures, they are probably quite typical.
It's not the BTL investor's fault that the population is growing and not enough houses are being built. Further, the vast majority of these landlords are good honest people.
Now consider the impact of this tax hike:
- No new investors, so house prices fall (not a bad thing)
- Existing BTL investors sell. Many of these houses are HMOs for students etc. So the number of people accommodated falls (a BTL house with six students is now owned by a family of 4).
- Rents go up from those that remain due to lack of rented accommodation.
http://www.theguardian.com/business...attack-george-osborne-budget-surplus-proposal
http://www.independent.co.uk/news/b...on-austerity-harmed-the-economy-10149410.html
http://www.dailymail.co.uk/news/art...support-Osborne-s-deficit-reduction-plan.html
http://mainlymacro.blogspot.cz/2015/06/the-academic-consensus-on-impact-of.html
http://krugman.blogs.nytimes.com/2015/06/06/views-differ-on-shape-of-macroeconomics-2/?_r=0
Refute some of the things he's posted then, with evidence.
This really annoys me. Its so pointless. Why get £30K plus of debt to do a degree that gives you zero chance of getting a job?
When I went to uni (back in 92) you went to do something relatively academic, science, engineering etc. It was bloody hard work, our lectures started at 7am and went on till 9pm some days! Numbers were lower but it was sustainable, no need to pay fees and all students were on campus in halls so no issues for local residents.
A mate of mine sent his 18 year old daughter to some agencies to get some office admin work over the summer and couldn't even get signed up without a degree. Why on earth do you need a degree for that?
Britain is fast becoming a country which is geared more and more towards the wealthy within society.
We are already looking at moving back to Bella Italia after being back for just over a year.
The question wasn't "are there any economists that disagree with Osbourne". You could find 50 economists that agree with almost anything, and there are hundreds and thousands of them. The question was to support the claim that "you'd be hard pressed to find one who agreed"
Haha, I graduated 2 years ago with a first class Masters in chemistry with industrial experience and extra curriculars and couldn't get a job in the industry because either the jobs weren't there or were in very short supply. Without the last minute offer of a PhD I'd have been up the creek without a paddle and in £25k of student debt to boot. And even those with science PhDs are hardly rolling in it.
Well I'm sure you will provide those economists that agree with him
I had the similar experience after my degree and masters. It's soul destroying, couldn't afford to do a PhD as I had to start paying back the career development loan I took out for the masters the month after I graduated. I don't feel I gained a lot given my £20k debt I've paid back.
Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors
Well I'm sure you will provide those economists that agree with him
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