Rent Exploitation - but they have the WRONG solution

The Property Nomads Podcast

Rob discusses a recent protest in Brighton by members of the Living Rent Campaign, who were protesting against rent exploitation. He highlights the ineffectiveness of rent controls, citing the example of Scotland where rent controls led to a supply and demand imbalance, causing rents to skyrocket.

Rob also touches on the importance of increasing the supply of housing to tackle housing challenges, despite the challenges in funding such initiatives.

KEY TAKEAWAYS

• Protests against rent exploitation took place outside Brighton Town Hall, led by the Living Rent Campaign.
• Rent controls, as seen in Scotland, have backfired by causing a supply and demand imbalance, leading to skyrocketing rents.
• The expansion of council housing is crucial to address the housing challenges in the country, but it won't happen overnight.
• The Living Rent Campaign calls for an end to the right to buy scheme, which has both pros and cons, especially in areas like Brighton with tourism challenges.
• Funding for improving council housing and building more is a key issue, as it may involve increasing council tax and requires a clear strategy.

BEST MOMENTS

"Rent controls, as we've talked about before, are not a good solution. Just look at the recent articles in Scotland. Rent controls attracted less investment, less development, leading to skyrocketing rents."

"Increasing the supply of housing is crucial to tackle the housing challenges. But the lack of a clear and cohesive strategy, changing governments, and local councils hinder progress."

"The Living Rent Campaign's call to end the right to buy scheme has pros and cons. It may help provide more housing but could also lead to issues with the types of homes being bought."

"Improving rent controls will backfire. It may provide a short-term victory but will lead to long-term consequences. The Living Rent Campaign should be cautious about this approach."

VALUABLE RESOURCES

https://www.theargus.co.uk/news/24417633.protest-outside-brighton-town-hall-rent-exploitation/

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