The impending buy-to-let boom is bad news for Britain
Is the Housing Boom back in the UK? Here is a great article to read thanks from The Guardian.
With a pension-funded buy-to-let boom expected, younger and poorer people could find a property of their own even more of a pipe dream
Just as you thought it couldn’t get any worse, it does. For young people already struggling to reach the bottom rung of the housing ladder, it looks to be pulled up even further.
From 6 April, over-55s will be free to cash in their pension funds, with many expected to invest in buy-to-let properties, unleashing a new wave of wealthy older people into the housing market.
Low interest rates have meant that people are making little money from their savings while those with money in property have seen far larger returns. There is even the option for “crowdfunded” buy-to-let, with a host of micro-investment companies offering the chance to invest in property for as little as £500.
More investors will surely increase demand, which will inflate prices and spell disaster for Generation Rent. Many young people are already marooned in unaffordable rented accommodation with few tenancy rights, or living with family. Increasingly, home ownership appears a mirage.
Thanks to The Guardian for this great article on the housing Boom you can read the complete article below :)