1. Every Monday and Tuesday, you’re working just to pay off your landlord’s mortgage
As if you don’t already have enough reasons to hate Mondays
2. And where’s your landlord?
3. It all started in the 80s
Back then, a third of the population lived in council houses and rent was cheap.
4. When Margaret Thatcher sold off council houses she didn’t build any more
Driving people who wanted a home into the arms of private landlords
5. If you want a job the best place to look is the South East
So that pushes up demand for homes there even further.
6. The sensible thing to do would be build more houses but planning restrictions stop the market responding to demand
Dark green = no new houses
7. Falling supply of new houses has pushed up prices
8. Rising prices attract investors who like things that go up in value
So houses become more than just somewhere to live
9. Being richer than first time buyers, investors can afford to put down a larger deposit and outbid them
10. Because they’ve paid so much for the house they pass the extra cost on to you
11. But it’s worth it: They now have a captive market of 4 million households
And two thirds want to buy but can’t afford to
12. Plus, landlords pay no tax on their mortgage interest and make 12 times what they put in
13. And they get to claim 10% of income tax-free for repairs
which they don’t even need to prove they made
14. Contracts only last 12 months or less, meaning letting agents have regular opportunities to raise the rent
15. And because letting agent fees make it expensive to move, it is even easier to rinse you
Let’s see, £100 more a month, or a £1200 cost to move?
16. Politicians won’t take action unless they think you’ll vote for it
“Did I hear someone say ‘vote’?”
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