Monday, 12 May 2014

UK Housing Crisis: Why Buy-to-Let Feudalism Must Die

It's surprisingly lucrative to do nothing in modern Britain if you have a bit of capital behind you. Welcome to the new feudalism. The rentier class is thriving. And none more so than the nouveau seigneurs in the buy-to-let market, who snaffle up what's left of the UK's scarce housing supply and extort those who can't afford to buy their own home. What can you do about it? Nothing if you can't buy your own house. Squatting is now a criminal offence so that's out of the question. You just have to pay the rents or live in the gutter. Easy returns with little risk but maximum rewards, buy-to-let investors nothing and expect everything – and they've got it. Read more on Yahoo News.

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