Cost doubles in some poor urban districts, driven in part by mortgage rate rise, UK-wide study shows
rents are driven by mortgage rates now - what the fuck.
I can just hear those fucking thatcherites and blairites shitting out their free market rhetoric all over the place.still, people keep voting for it, so it must be working for the upper middle .
rents are driven by mortgage rates now
That’s normal. When it gets more expensive to buy, more people are forced into renting, which increases demand for rentals, which increases the price of rentals.
Rent control is how many societies and communities deal with it.
Rent control leading to famously affordable rents in New York and San Fransisco.
Just because some authorities implement it poorly doesn’t mean it can’t be effective. i just looked up new york rent control and it says
To qualify for rent control, a tenant must have been continuously living in an apartment since July 1, 1971, or be a qualifying family member who succeeded to such tenancy. When vacant, a rent-controlled unit becomes “rent stabilized”, except in buildings with fewer than six units, where it is usually decontrolled. In units within single and two-family homes, the tenant must have resided in the unit continuously since March 31, 1952, to qualify for rent control. Once the unit becomes vacant, it is decontrolled.[4][5] Rent control does not generally apply to units built after 1947. wikipedia
well then what is the fucking point? and rent stabilisation seems no better
“tHatS noT rEaL ReNt coNtRoL.”
We have social housing in the UK which is rent capped and it gives people an element of stability. It can work well
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Working as intended, unfortunately.
£759 is ridiculously cheap - that’s $955, around what I was paying for an apartment in 2011.
Yes, but you live in a society where you get fucking shafted for every single thing, your opinion is irrelevant to this article
Just a Canadian chiming in but it’s been $900 and up since 2017.
Average wage is also lower than the average wage in the US especially the further north you go.
