41–50 of 62 posts
What happens to the costs of ownership? e.g. service charge, boiler repairs etc?
Their screenshot doesn't show "Your share of the leaky roof repair bill: £1400"!
Also, Proptee is in a very powerful position being able to choose which contractor fixes that leaky roof. Plenty of other management companies only hire their mates who give big kickbacks and charge skyhigh rates for basic maintenance.
Earlier quoted context omitted.
If the rent is disconnected from the property value, then there is a speculative bubble. If the rent goes up faster than wages, people become homeless.
It's hard to see how rent can be disconnected from the property value because if the achievable rent for a property skyrockets that will pull the property's value up. If rent goes up faster than wages, which cannot go on forever, it means an imbalance between supply and demand. The best way to address this is to rebalance supply with demand, not to be tempted to control prices or whatnot that do not resolve the root…
In a free market (the UK is about as free a market as you get in relation to property ownership and rental), this might be true. But it does depend on how regulated the market is, in terms of rent controls etc. I'm not sure this would hold for an older, or bigger, or more difficult to maintain property in an area with a high percentage of renter competition in some European countries, for example (e.g. Germany).
Whilst this is no doubt innovative, everything that is abysmally wrong with property ownership in the UK stems from complicated ownership structures like that being proposed here. Just look at the leasehold scandal (and upcoming reform), the push for commonhold, and the things that go wrong (such as the cladding scandal following Grenfell). Homes are not investment vehicles to make people wealthy - they are a fundame…
Homes are not investment vehicles to make people wealthy.. A huge number of people use the equity from investing in a house as a retirement fund. They very literally are investment vehicles. You can argue that they shouldn't be, or that there should be a class of housing that isn't treated like an asset, but that would be very hard to achieve without some serious market manipulation.
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Any asset that can maintain or increase its value over time can be an investment vehicle and thus in practice is an investment vehicle. It is not a human right to own property. Having a roof over your head and owning that roof outright are not the same thing.
> Having a roof over your head and owning that roof outright are not the same thing. But they are two sides of the same coin. By the market pricing you out of being able to own your property (whether it be through foreign investment into buy-to-let, poor supply of affordable housing stock, inherited money passed down between generations further entrenching the difference between those that have and those that do not…
Mass ownership only started in the 1960s/1970s. Before that most people were tenants. In the UK there were large scale council housing so people had moderate rent and security of tenure but they were still only tenants.
Again there is no human right to own property and that would not make much sense unless you want to create another scandal down the line of shoddy, worthless properties that were built in order to be affordable to people who can only afford £15,000 over 25 years...
Earlier quoted context omitted.
It's hard to see how rent can be disconnected from the property value because if the achievable rent for a property skyrockets that will pull the property's value up. If rent goes up faster than wages, which cannot go on forever, it means an imbalance between supply and demand. The best way to address this is to rebalance supply with demand, not to be tempted to control prices or whatnot that do not resolve the root…
> It's hard to see how rent can be disconnected from the property value because if the achievable rent for a property skyrockets that will pull the property's value up. In a free market (the UK is about as free a market as you get in relation to property ownership and rental), this might be true. But it does depend on how regulated the market is, in terms of rent controls etc. I'm not sure this would hold for an olde…
Leasehold https://leasehold.io/ is an alternative which uses a deflationary blockchain cryptocurrency to distribute profits to token holders. It distributes profits via a token buyback (and burn) mechanism which maximizes the reward for long-term token holders. When the buyback comes at the end of each month, you can sell tokens back to Leasehold Holdings on one of the exchanges and cash out or you can hold your toke…
The term "leasehold" has very negative connotations in the UK, just so you know. https://www.thisismoney.co.uk/money/mortgageshome/article-85... https://www.bbc.co.uk/news/business-54023631 https://www.which.co.uk/news/2019/06/leasehold-scandal-one-y...
Earlier quoted context omitted.
> Having a roof over your head and owning that roof outright are not the same thing. But they are two sides of the same coin. By the market pricing you out of being able to own your property (whether it be through foreign investment into buy-to-let, poor supply of affordable housing stock, inherited money passed down between generations further entrenching the difference between those that have and those that do not…
It's completely different. Mass ownership only started in the 1960s/1970s. Before that most people were tenants. In the UK there were large scale council housing so people had moderate rent and security of tenure but they were still only tenants. Again there is no human right to own property and that would not make much sense unless you want to create another scandal down the line of shoddy, worthless properties that…
Leasehold https://leasehold.io/ is an alternative which uses a deflationary blockchain cryptocurrency to distribute profits to token holders. It distributes profits via a token buyback (and burn) mechanism which maximizes the reward for long-term token holders. When the buyback comes at the end of each month, you can sell tokens back to Leasehold Holdings on one of the exchanges and cash out or you can hold your toke…
I happen to know the founder and he is a really smart and a hard working person, with quite a lot of experience trying out different ideas, so I wish him and the team a lot of success!
When is someone bringing this out for infrastructure investments. I want to be able to own 0.0001% of a sub-sea cable between UK and Europe.