h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Call me an old socialist but I'd love to see the Govt go on a huge council house building drive - not "affordable starter homes" but real council houses, for renting.

Of course this would gut the "house as an investment" types

But the "house as a home" types would be unaffected

1 million pre-fabs providing decent, affordable housing. A huge boost to the economy, a profit-centre for councils who could offset the cost of services against rent and an end to this insane property-boom economy.

Course, it'll never happen.

I don't see why not, really - it would also, incidentally, give a massive boost to the building trade, which could certainly use it.

Good grief.... who are you two, and what have you done with the real swl and Hoo?

I agree, but I'd like to see us do more than just building new houses - I'd also like to see retrofitting and rebuilding and upgrading of the existing housing stock to higher environmental standards. There's a measure of this going on already, but nowhere near enough. I'd hope we'd not want to take the easy option and just build over ever last green space available.

Can't beat a bit of Keynes to get the economy going....

On renting v. owning, it's always been cheaper to pay a mortgage than rent on comparable properties everywhere I've lived. This wasn't the case in bits of Australia last time I visited. When I was last renting, I tried to see the extra as a convenience/mobility premium rather than 'dead money'... insurance against having to relocate again...

A mortgage does have one significant advantage over renting: they give you a house at the end of it.

Gif

Hmm, I wasn't really *that* far off the mark 3 1/2 years ago. The most shocking thing since then, something what I'd never have thunk, is swl saying 'call me an old socialist'!. Eff me sideways!

Hoo, one thing about mortgages is that they have a fixed length, unlike renting out a house. There's no especial reason why someone couldn't have a 10 year mortgage, while planning to break even after 15 years or whatever. The point of a private landlord making a profit though, is certainly correct.

Mortgages underwritten by taxpayers? What could possibly go wrong? http://www.bbc.co.uk/news/uk-politics-15810966

Been done here (once, I think) and very short-lived. It was such a do-good process that a lot of disreputable folks got a home for as long as it took for courts and reposessions to be processed. With the government on the stick for the costs. Not good PR for anyone.