Whingers who complain about financial perks for landlords and who then complain about rising rents when the perks are withdrawn and landlords exit the sector, are the subject of a new blog.
Tim Worstall’s latest entry on the Adam Smith Institute website identifies a series of attacks on the financial viability of buy to let in recent years that have contributed towards a reduction in supply as landlords have left the rental sector in exasperation.
He then goes on to say that those who have complained about the financial assistance given to landlords historically - via mortgage interest relief, for example - are often the same people who complain about higher rents, caused by the shortage of rental units after landlords exit.
He cites Foxtons’ latest market snapshot saying a 22 per cent year-on-year surge in rents in the capital in the first nine months of 2022, with 30 new renters for every property listed.
Worstall then writes: “And of course everyone is complaining that the rent’s too damn high. That is, people are both cheering the restrictions upon supply and also complaining about the effect upon prices of that restriction of supply. Whcih does lead to a certain amusement at what people will complain about.”
To see his wry column in full, click here.
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