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The economic impact of Covid-19


Genie

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4 minutes ago, HanoiVillan said:

This much I completely agree with you about. This is no sort of a solution at all. It just means everybody has to start wondering what they will do again in a fortnight's time. I also think they're fully in denial about the need to extend furlough for several sectors as well.

I think a good solution would ahve been if you have proof of losing your joband have evidence you paid your rent prior to pandemic evictions should be suspended and that you need ro make arrangements with your landlord.

I think for house sales with buyers (obviously  i am boased here for this part as j dong think its fair a house sale should fall through because a tenant wont leave even though their tenancy ia up)those evictions should still happen as should evictions for troublesome tenants who were not paying before the pandemic.

 

Edited by Demitri_C
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I think a good solution would ahve been if you have proof of losing your joband have evidence you paid your rent prior to pandemic evictions should be suspended 

Not entirely unreasonable. Protects those who need it.

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I think for house sales with buyers (obviously  i am boased here for this part as j dong think its fair a house sale should fall through because a tenant wont leave even though their tenancy ia up)those evictions should still happen 

...Oh. Unless it personally inconveniences you. 

Do my sympathies lie more with someone who's trying not to get kicked out, when they might not have anywhere else to go, or by the future homeowner being a bit frustrated about their move date being pushed back a bit. Tough call. 

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1 hour ago, Davkaus said:

Not entirely unreasonable. Protects those who need it.

...Oh. Unless it personally inconveniences you. 

Do my sympathies lie more with someone who's trying not to get kicked out, when they might not have anywhere else to go, or by the future homeowner being a bit frustrated about their move date being pushed back a bit. Tough call. 

The thing is its not the house sale is being pushed back as its been pushed back since july and now we looking at october IF they leave. If they dont it could be 9 months or more with this backlog that doesnt really help anyone then aale collapses not delaydd unfortunately.

Delaying is a temporary fix they need solutions. 

 

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1 minute ago, Demitri_C said:

Delaying is a temporary fix they need solutions. 

Complete eviction ban unless the rent hasn't been paid and fair rent tribunals to set the rents at a sensible level of approx 50% of current market value?

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1 minute ago, bickster said:

Complete eviction ban unless the rent hasn't been paid and fair rent tribunals to set the rents at a sensible level of approx 50% of current market value?

Yeah i mentioned something similar above. Only thing i would add is not complete bans.  There should be criteria such as if house was in process of being sold before lockdown or evictions before then i think those should still have been in place on a case by case basis

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17 hours ago, Demitri_C said:

as j dong think its fair a house sale should fall through because a tenant wont leave even though their tenancy ia up

Though this is always the case as explained earlier - these postponements have only extended the process required to regain possession they haven't created a circumstance where a landlord would be required to regain possession..

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15 hours ago, bickster said:

Complete eviction ban unless the rent hasn't been paid and fair rent tribunals to set the rents at a sensible level of approx 50% of current market value?

Who pays the other 50%? Assuming costs need to be met, you risk forcing repossessions here. I think the solution here has to be some form of mediation, you need a time limited plan that helps the tenant to get back on their feet. Maybe some government intervention to help support rent costs for those on a plan but it needs to be honest by both parties. Is the tenant going to be able to afford this property in 6 months time? If not you need to start considering options not just hoping that the market bounces back.

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21 hours ago, chrisp65 said:

To continue the HS2 sort of theme and where the costs and timeline on that are heading.

 

Crossrail originally due to open in 2018 now delayed until 2022/23 as a minimum providing there are no further delays in the next 2 or 3 years and will cost an additional £450 Million, on top of the other £2.5 Billion it was already over budget. 

I’m sure this government will keep a much tighter more professional grip on HS2, so probably not worth using Crossrail as any sort of comparison.

 

I think HS2 looks positively good value compared to Crossrail haha

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1 hour ago, bickster said:

No-one, I'd like the housing market to crash to a realistic level :mrgreen:

Yeah but you rent so that wont mattwe to you!

3 hours ago, snowychap said:

Though this is always the case as explained earlier - these postponements have only extended the process required to regain possession they haven't created a circumstance where a landlord would be required to regain possession..

Problem is though snowy is your gonna have landlords losing their houses because they cant pay their bills. They cant even put the ones they renting up for sale because your tenant dont want to leave.

This is going to cause massive problems in the housing market as lots of moves will collapse now. Wont be resolved by March as now you have to give 6 months notice as well! So not many will benefit from the stamp duty reduction 

So good luck the housing market is going to going to completely implode 

Edited by Demitri_C
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Cheaper housing is always a good idea.

This current system is clearly broken if housebuyers, renters and landlords are all unhappy.

There should be some sort of locally organised co-operative way of getting people in to affordable accommodation they can make a home and raise a family in.

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47 minutes ago, Demitri_C said:

Yeah but you rent so that wont mattwe to you!

If they were cheaper I could buy! or if rents came down I'd be better off. It is absolutely insane that people are paying such a high percentage of their income for putting 4 walls and roof around them.

If the housing market collapsed to a sensible level. Everyone would have more money. That would be more money to spend on luxuries and leisure, enhancing everyones well being, improving  employment.

Right now, the housing market is actually sucking huge amounts of money into banks and landlords, it is centralising where all the money flows to. That is really shit for a healthy economy and really shit for peoples mental health.

 

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1 hour ago, Demitri_C said:

Problem is though snowy is your gonna have landlords losing their houses because they cant pay their bills. They cant even put the ones they renting up for sale because your tenant dont want to leave.

Again, as has always been the case.

You're mixing up the current situation - where the Government don't appear to have a clue about solving a couple of interlinked issues (and I agree with you that delaying one thing causes other issues for other people) - and what is always the case, i.e. that trying to sell a house when you have a tenant in place (even if their lease is due to end before the property is expected to be sold) is potentially a risky proposition if the tenant doesn't leave.

Edited by snowychap
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49 minutes ago, bickster said:

If they were cheaper I could buy! or if rents came down I'd be better off. It is absolutely insane that people are paying such a high percentage of their income for putting 4 walls and roof around them.

If the housing market collapsed to a sensible level. Everyone would have more money. That would be more money to spend on luxuries and leisure, enhancing everyones well being, improving  employment.

Right now, the housing market is actually sucking huge amounts of money into banks and landlords, it is centralising where all the money flows to. That is really shit for a healthy economy and really shit for peoples mental health.

 

Yeah i do prices are mental at the moment. If you sqw how much houses are going near me and this not a desirable location with small houses. Its just madness.

Cant see a collapse though sadly 

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3 minutes ago, snowychap said:

Again, as has always been the case.

You're mixing up the current situation - where the Government don't appear to have a clue about solving a couple of interlinked issues (and I agree with you that delaying one thing causes other issues for other people) - and what is always the case, i.e. that trying to sell a house when you have a tenant in place (even if their lease is due to end before the property is expected to be sold) is potentially a risky proposition if the tenant doesn't leave.

Think there needs to be better legislation for evictions though. You need to have more sections of evictions not catergorise them into one process. 

For example some arsehole who hasnt been paying his or hers rent for last 6 months or has been causing chaos in a property should not be in the same catergory as someone who lost their job in the pandemic but was paying before this.

They should be looking at the cases in scenerio one now and not looking at scenerio one right now. This would ease the pressure on the courts and ease some of the cases/waiting times. By them just delaying it for a further 4 weeks its just not proving any form of solution -just delayjng what was originally going to happen

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56 minutes ago, Demitri_C said:

Think there needs to be better legislation for evictions though. You need to have more sections of evictions not catergorise them into one process. 

For example some arsehole who hasnt been paying his or hers rent for last 6 months or has been causing chaos in a property should not be in the same catergory as someone who lost their job in the pandemic but was paying before this.

They should be looking at the cases in scenerio one now and not looking at scenerio one right now. This would ease the pressure on the courts and ease some of the cases/waiting times. By them just delaying it for a further 4 weeks its just not proving any form of solution -just delayjng what was originally going to happen

I don't disagree with much here - especially the last bits about the courts and it being just a delay.

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1 hour ago, Demitri_C said:

Think there needs to be better legislation for evictions though. You need to have more sections of evictions not catergorise them into one process. 

For example some arsehole who hasnt been paying his or hers rent for last 6 months or has been causing chaos in a property should not be in the same catergory as someone who lost their job in the pandemic but was paying before this.

They should be looking at the cases in scenerio one now and not looking at scenerio one right now. This would ease the pressure on the courts and ease some of the cases/waiting times. By them just delaying it for a further 4 weeks its just not proving any form of solution -just delayjng what was originally going to happen

Plus more protection against bad landlords, the right to longer tenancies, and more enforcement to make sure homes are habitable and defects are sorted.

Bad landlords should have their properties seized and put in local authority supervision.

There’s a lot of reform that could be done both sides of the fence.

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4 minutes ago, chrisp65 said:

Plus more protection against bad landlords, the right to longer tenancies, and more enforcement to make sure homes are habitable and defects are sorted.

Bad landlords should have their properties seized and put in local authority supervision.

There’s a lot of reform that could be done both sides of the fence.

Absolutely agree with this. There arr some really atrocious landlords out there who should be penalised as well.

I was reading on facebook one landlord illegally went into a property threw all his stuff outside the property and changed the locks so he couldnt get in. Police wouldnt do anything and said it qas a civil matter.

The amountvof laws broken there is incredible 

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2 hours ago, Demitri_C said:

Yeah i do prices are mental at the moment. If you sqw how much houses are going near me and this not a desirable location with small houses. Its just madness.

Cant see a collapse though sadly 

London and the South East is utterly mental for housing costs. Much more reasonable (in relative terms) in the Midlands and North. 

Now that more people are WFH full time and the possible end of presenteeism in city offices, I can see a lot of people moving out of the London and SE region. 

Edited by Xela
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5 minutes ago, Xela said:

London and the South East is utterly mental for housing costs. Much more reasonable (in relative terms) in the Midlands and North. 

Now that more people are WFH full time and the possible end of presenteeism in city offices, I can see a lot of people moving out of the London and SE region. 

It really is. I hope your right about people moving away from london. There are just too many people here. 

Also like bicks said earlier it needs some kind of crash becuase the value of properties is absolutely insane. People will never pay their mortgages off and are drowning in debt.

The problem is even if you want to sell a house your letting out you cant because you cant evict anyone and the length of time it takes to go court. 

I have a feeling your going to see alot of violent altercations between landlords and tenants in the next year. Its a complete mess.

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