Cost doubles in some poor urban districts, driven in part by mortgage rate rise, UK-wide study shows

Cost doubles in some poor urban districts, driven in part by mortgage rate rise, UK-wide study shows

  • oo1@kbin.social
    9·
    9 months ago

    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 .

    • GiddyGap@lemm.ee
      5·
      9 months ago

      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.

        • kux@kbin.social
          3·
          9 months ago

          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