"You'll own nothing and be happy" The great reset

All part of a big plan. They punished landlords so that they sold up and rents increased.... so that the banks could take over. Banks have free money (yours) to buy the properties. Landlords generally have to pay the bank (landlords rent money by way of a mortgage). So before the bank made money via the mortgage, but missed out on the increase in value of the property. Now they take the entire cake while using your money to take it. They can also own a large share of properties in a given area and so control the prices. A bank won't care about keeping the rent low for a long term good tenant, so rents will always be maximized.

this started in USA and it's worse than you think. Their advantage is that they can buy the houses using leveraged money (they can 'lend - or use' the same deposited money multiple times). So yes, first time buyers are not competing against each other but against 'funny money'. Just to help the banks further the government is encouraging private landlords out of the market. When they stated at the WEF that you will own nothing - they were absolutely right. They will not reposes peoples houses, they will convert them to renters - nice. They want to own everything.

Old model: loan against an asset that you gradually sell over 25 years in return for a fixed £800 a month New model: own the asset and charge rent forever, starting at £1200 and ramping that number up whenever you feel like it The only surprise is that it took so long for UK banks to get into this game.

That is interesting that banks are buying the well insulated New Builds, and they can later on make a rule where they will not grant a mortgage on properties that do not meet the right energy performance scheme, thus making their own investment more attractive.

Only 1 minute in, but felt the need to say that my feeling is that it should not be allowed. Its hard enough for people to get onto the property ladder and there is a shortage of housing as it is.(why cant the banks by industrial units or even the empty commercial units instead, the people/businesses that rent those can claim that back at least) Rents are normally more then a mortgage payment so people are further out of pocket. We are truely becoming a world were we will never own anything and never have anything to hand down to our children

My girlfriend and I bought our first house in N London in 1982 for £23,000.. Our re-build Insurance was £20,000 valueing the land at £3,000.. That same house was sold a couple of years ago for about £800,000.. As a retired Builder I know I could easily build that property from the ground up for £100,000 making the land value £700,000.. Thats about £7m per acre..

Shared ownership = you pay all maintenance costs, insurance and repairs; then when you try to sell your property partners refuses to accept a market price unless you pay them more money.

Something like this happaned to me when I was trying to buy my house, a local property developer had somehow been given the nod for practically unlimited funds from the bank. For what this meant to me was that I kept ending up in unwinnable bidding wars against the same property developer for every house I was looking at. As a first time buyer, I found it absolutely insane that there was nothing stopping this. This developer was snapping up every local property they could get their hands on so they could flip them quickly for vast profits. I found out after buying my house (wasn't on the market) that same developer had ended up in some serious financial trouble and little was heard of from them again, probably bankrupt. Was the bank every held to account for enabling all of this? Nope. They'd probably made a tidy sum from the whole farce.

So it's basically gone from public landlords, as in councils that built council houses, to private landlords, as in privately owned and private profit banks. Councils are accountable to the people they serve and they can be voted out whereas private banks are there to make profit and only accountable to private shareholders.

One thing that strikes me, banks create most of the money they lend, out of thin air..it's not all savings Being allowed to buy and support the market themselves with money they create is a bit of a ponzi scheme

Roger, you are our hero and an inspiration! Once you have a platform, why not diversify, I say?! You are also our Davos without the need for a private jet! Please keep up your excellent work!

Corporate Greed! This selfishness must end it only benefits the already rich and the majority are left struggling to find a forever home. The poor desperately need affordable council homes. Ignoring this pushes people onto the streets homelessness will rise along with crime and mental illnesses. People renting are being charged a large portion of their earnings on rent and food leaving very little for heating and other bills.

Banks have been buying homes since pre pandemic. Why do you think the floor price for homes sky rocketed accross the UK?

Roger, whilst I've been a little scathing about your videos when it come to interpretation of facts on property matters in other countries, it has to be said I have a great deal of respect for what you look into in the UK - and publish. Thanks for a very good series of videos. I would suggest (to be polite) that the UK establishment (read both Lab and Con) has all the worst tenets of communism/hardcore socialism and the worst of capitalism, yet neither of the good parts of either. It honestly stuns me to see what HMG does - and as for corruption, the only country in Europe worse than Ukraine is the UK, not least as a lot of total moral corruption is legalised/grey area/excused and anyway the police won't touch the rest - and that certainly includes the courts which no longer bother to follow the law, as (provably) inept as they are in any case. I hope you won't mind me saying directly that the banks taking over housing is part of an overview plan which could easily have been dismissed as paranoia, had not Sunak (and so many other 'leaders' and the influential) publicly admitted his (their) obeisance to WEF dictat. For anyone who hasn't read the WEFs public statements, please do so - they are very sick people. We live in awful times where the laws of decency and acceptance are abused daily and to an extent that no one seems shocked by it any longer. Perhaps it has always been so, but the speed of communications now, and broad access to law and knowledge, leaves little excuse for pleading ignorance any longer, and also facilitates ever faster corruption - by analogy to 'cops and robbers' - each outdoing the other in skills each alternating year. The UK has to change and change wholesale and face some very tough years to put right what successive governments have put wrong and where each tries simply to get through its tenure acceptably well simply to get voted in at the next election - in the knowledge that it's 'all' going to end in total collapse - but just not 'on their watch' and certainly not before their pockets are lined. I hope some people will wake up and shape up to just what is going on in the UK. The very idea of banks being, or even aiming to be, primary landlords is so sick and twisted it doesn't bare thinking about. One simple maxim springs to mind and that is "if you have a debt with the bank, you've got a problem, but if the debt gets big enough, it becomes the bank's problem" - in followance of the same logic - if the banks get big enough ad into enough trouble, governments have a problem - and that has certainly been the case as the taxpayer has bailed the banks out time after time. The (private) banks should be nowhere near in control and should be without leverage - for that is the business of a National Bank without private/investor interests, and one whose government sees to the well-being of the people first, as it's their money it is using. One doesn't need to be a 'raving socialist' to ask for a reasonable foundation on which to build.

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

Here’s a radical thought: Normalise ownership once again. It’s not just houses now though either, it’s everything - it’s media, it’s software, it’s even the right to use the heated seats in the car you ‘purchased’.

Great to hear someone talking about the value of council housing and security of tenure for stability. So long as misbehaviour is robustly tackled, it could be made to work again.

A while back banks could not own property by law. That was changed, can’t remember if this was a labour or Conservative law change. It’s idiotic. It’s pushed up the value of houses which people think is nice but it isn’t. Thatchers policy of right to buy was fine but the problem was that they didn’t ring fence the money and the subsidy can from the public pocket and people were allowed to keep the subsidy. Interestingly enough thatcher’s government built more council houses in one year that New Labour did in the entire time they had in power with the worst year labour only built 420 houses.

When a righteous man speaks the truth it will always resonate with others. Thank you for shining your light and enabling others to see the reality behind the illusion. We should all be extremely grateful for such examples of courage. 🙏

Well said Roger. As in every YT blog, brilliant with all DIY and building advice, gold star standard; and also putting UK politics and economics to right. Love it.

Roger, excellent content and excellent delivery as always. Thought provoking, at the very least. Keep up the good work

Roger, you should run for Reform. You would be very popular

Smaller freehold property should be ring-fenced for owner-occupation: seeking rent on them prohibited. Everything has been made more expensive and harder/riskier to do in the UK by soaring cost of accommodation.

It is a truly complex issue. It seems that no rule is good or bad in isolation. If banks are allowed to hold hard assets (property, oil, grain), which can be hoarded, in addition to soft financial assets (which do not hoard real things, critical for survival of society) then other rules must be put in place, removing special privileges from banks (e.g. creating new money in the system from a mortgage, anti hoarding laws, who knows what else), as well as vibrant market with competition to big 4 banks, to keep the prices down. Or don't allow them to own (or rather control) any real assets, critical for society. But the issue is a number of asymmetries in the system, which have various causes. For example, the tax payer builds council houses, then government sells it to the occupier at a discount, occupier-come-owner sells the property at a profit, mismanages the money and is now homeless, asking taxpayer to house them. Is it fair? Don't know, but it's asymmetric. The main cause for inflated house prices is banks lending at 4.7 times the wages. If banks stopped lending and people were buying with cache, house prices would drop 5 times. Banks lend this money not from their reserves but from legal accounting privilege (effectively create new money). Once mortgage paid, that money is destroyed, so long term it's ok for the currency, but is it fair? Don't know but it's asymmetric. If banks don't lend 5 times the salary but UK allows foreign investment, the local people will be out-priced, unless international currency exchange is is freely floating. But if currency exchange is is freely floating some UK businesses may be outcompeted by foreign businesses whose government subsidises the sector. Is it all fair? Don't know, but it's asymmetric. Inheritance tax on property bought after tax, is it fair? Very asymmetric. Two-bedroom terrace in Burnley, Howden and many other places sell for 20K. Is it affordable? Yes. Do we see a stampede of buyers, including banks? No. Do people move to these affordable houses or stretch themselves beyond what they can bare and buy 1 bedroom flat for 10 times this amount? The latter. Do they also complain that houses are unaffordable? Yes. Is it fair? Don't know, but it's asymmetric. On and on ...

Sir Keith Joseph was a key influence in "Thatcherism". His father headed the vast family construction and project management company, Bovis.

I predicted this five years ago. Corporate landlords will be the norm, rents will be higher and there will be fewer property owners.

Love all your videos. Thank you for your time and effort. 😊

They will be buying houses from people who are defaulting on their mortgages and renting it back to them. So turning a falling investment (as mortgages are paid off) into a rising investment (where rents increase as time goes by). So the residents don’t get humiliated in front of their neighbours and lots of houses don’t reach the open market crashing it. Let’s face it, when CBDC arrives the banks will be out of business because VISA will be running it for the government and skimming a percentage off the top. Note - banks don’t operate the credit card system.

2,400,000 council houses and flats sold off at one time discounts by tory and labour since 1979 and not replaced, what did we think would be the outcome.

Excellent analysis of the housing market and its problems.

You are a good man Roger. Keep up the good work.

Brilliant video. Covered so much ❤

Explaining things so that we can all understand, thanks again Roger. I could never afford a house or flat in the UK so had to move to Spain. Just bought my first place in a nice little town which needs loads of work. Luckily I've learnt so much watching your channel I'm able to do the work myself.

Brilliant as usual Roger . Black Rock have been buying private houses in the US , so Black Horse are following . Roger for PM .

The banks should not be allowed to buy up the property market with their ill gotten gains from financial speculation like the 2008 financial disaster, where they got bailed out at our expense. Unlike home buyers, these banks can write their own tickets as concerns typing themselves in the leverage necessary to buy everything up.

We like your direction of travel Roger.

very well informed commentary!

Another strange one. My local authority offer to purchase homes directly from the seller, at market value. The idea is to increase social rent homes available, by preventing 2nd home owners buying up. Buy to Let ended in Scotland about a decade ago. Scotgov have built around 120,000 affordable homes, 70% social rent since then.

Wow, very insightful.

Top man, bang on, Just like here in Ireland, Heard last week some institution bought 85 new houses in one go,

steady Eddy, the inheritance tax bracket is only 4% of foke, so a bit of scare monger going on.

I think we should regulate banks so that they only do their core business - keeping money and issuing loans. Not buying property with the money they could have loaned to someone.

Brilliantly explained

Roger. that is so spot on mate everything you said is exactly how things are . i never thought anyone would think the same as me but thank fuck you do mate. keep it up

Well said Roger!

This is something that we all know should be outlawed, but the government would never do such a thing. Too many powerful people, many of whom are in government would stand to lose out. If houses became affordable for the average person overnight, the economy would crash. Britain is literally run on house prices and without them being the lucrative investments that they are, we haven’t got much else going for us.

You don't pay inheritance tax if you set up a Trust, just look at the Duke of Westminster.

I know of a site in London which is being developed by a large insurance company. It comprises 1 and 2-bed properties for rent. A couple of years ago at Davos, we were told that we would own nothing but be happy. You can start to see the result of that statement. It will become harder and harder to own a home, and our cars will be leased. Finally, we become prisoners of the big corporations. Why do you think Bill Gates has become the biggest Landowner in America? Land is finite and long term can only increase in value if population growth continues.

I subscribed to this channel to get a better insight into building matters that I'm probably never going to put into practice. I'm very pleased to find that my man here is someone to be trusted. Great content!

Excellent summation of the situation and future risk to ordinary people. 'Do you trust banks?' Absolutely not! I used to work for one and they're utterly ruthless with only one aim. I'm now also cynical about shared ownership schemes having had to 'dig' my 22 year old daughter out of one as her circumstances changed (it wasn't cheap or easy). The UK has had a big housing problem for a long time and I can't honestly see a fair solution. Banks as landlords sure as hell isn't a solution either.

It means that we all continue to just be Economic Units for large financial institutions in everything that we do with no stake in the game or investment for our future. Its back to a feudal society in the UK . Our forefathers fought, struggled and often died to give us a better life and futures for ourselves and we are squandering it. Thank you to this channel for highlighting one of the important areas of re take and wealth grab. Call it what it is it wont be rental property its TITHED houses to the new aristocracy .

Brilliant mate, note house prices are going southbound even worse, makes me think what to do next 😢

Excellent video, thank you. I haven't lived in a council house but I thought selling off council houses was a terrible thing to do. A complete nonsense.

Blair knew what would happen to property prices. Just have to look at the historic values of houses in London after he first got in between 1997 - 1999, they often doubled! Can't think why.

Part of the problem as I see it, the increase in house prices causes a rent increase. If an investor puts in 100K they will expect 5-10% return per year (depending on inflation and interest rates) So as prices rise expect rents to rise.

Explained brilliantly

Builders' call their accrued building land..."land banks". Private house ownership has no chance when the banks (and other corporations) have easier access to cash to pay for the house outright at the point of sale. The UK is such a deppressing country.

For once Rodger, I fully agree and can’t argue with anything you said you’ll bang on the money 👍

I had a landlord call me on a Sunday about a job and they stated that "I should give them a good price, because they are a landlord" and the old "there'll be much more work down the line". I stupidly went to look at the job as it was around the corner, it turned out the handrail the wanted refitted was connected to a newel post that was simply sitting on the landing floor and screwed to the floor.

The danger isn't just that they buy new builds to rent out - the danger is now, if you have a mortgage but get behind on your payments, the bank can repossess the house and either rent it back to you or else rent it out to someone else, not only getting the money they're owed but also indefinite money from future rentals too. It shouldn't be allowed.

Nice one Roger. Any thoughts on “cohousing“ like they have in Denmark and LILAC in Leeds? I think they are amazing for community building and affordable homes while keeping environmental impacts to a minimum.

Great video thanks

I agree with you that those with sufficient money in concert with those building are able to control supply and keep prices up. As a retired IFA however, I would point out no one needs to pay Inheritance tax. There are a multitude of strategies to legitimately avoid the liability. I think it was Roy Jenkins who derided IHT as the “voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue'.

I don't suppose any bank will want to buy my house (2-bed terrace built 1988) when the tenants leave later this year, but if one comes along I will be happy to sell to them.

Good information

Well said 👏 Sir!❤❤❤

Well said Roger 👍👍

I think it should be considered a conflict of interest. Banks can't lend to people and then gazump them. All the money from right to buy should be ploughed right back in and right to buy should only be after 20 years of tenancy. Also the points system of getting a council house should be scrapped back to just a waiting list. I know at least one youtube investor who doesn't raise his rents each year if he has a good tenant, which is how it should be - profit gouging is the pits.

As a carpenter I have worked for landlords on their own homes but they do not want to maintain their rental properties.

Right to buy should have been done differently in my view. As the homes were sold at a discount, I cant see how councils could build new to replace those houses without futher money even if that money were specifically allocated for that purpose. There should have been a legal agreement whereby if the house is sold the council would be entitled to levy a CGT on the gain to plug the gap and can only be used for building replacements.

It's almost as if the banks have no faith in the £'s ability to maintain its purchasing power, so they're moving into tangible assests

This is why we should be taxed on property not income. As wealth is increasingly concentrated into small groups of landlords, many regular working people will give up. If people have opportunity choked off, things will turn really bad for all of us.

BLACKROCK 2.0 Roger you are about 2.5 years behind old boy.

I think the banks know that in future the traditional mortgaged home ownership model will be gone due to affordability limits being breached, and they are looking to the future, being private renting for the majority of the population. They need a new income stream, basically.

Roger this is brilliant, however you said Councils should have built new council houses with the proceeds from the sale of the old council houses what to be forced to sell them again at massive discounts. No wonder social housing supply dropped dramatically.

Very good!

Great video

Great Rant, love it shame the folk in charge will do what ever THEY want

Would this not be classed as inside or immoral trading. Seeing they'll be acquiring but to let mortgages from their own brand and most likely at low interest rates we'll never see the likes off.

Home ownership means no mortgage payments when you’ve paid a mortgage off. Renting never stops and increases over time

New fairly airtight home should have heat recovery ventilation. Much more comfortable and no mould issues. But if course there's a cost, do i suspect they're rare.

Love hearing high end macroeconomic analysis from Roger. He should do more, and yes, I think I would vote for him. What about good, long term tenants in leveraged property being entitled to the equity, or a portion, accrued during their tenancy. Negotiable. Less, fewer rights, lower rent. More, greater rights but higher rent for a bung towards a deposit.

Great speech. When are you standing for PM? You've got my vote.

Home ownership has been falling, 71% in 2001, 62% today. There are now 3 million more tenants than twenty years ago. Anyone with a Lloyds and others bank account is directly investing in buy to let, because they are using your money.

I see an opening in Houseboats, after all we've got plenty of water and building Marinas can't be that difficult. 🇬🇧

Its called Build to Rent (BTR)

Many awaken people in comments, encouraging compared to 3 years ago. Good video Roger, thanks. What could be the solution though...?

Already know it's gonna be a gooden 👍🏻

1st.....watch the Lloyd's bank share price....

Your so right

Good video.

I know sites where Lloyds have brought up 200 plots 😳

A nice big landlord tax, and an undeveloped building land tax. That should do the trick.

Worked on a 12 house development a little while back, houses around £750k and this in Nth London so nothing special. The developer (small) got funding from a bank and i found out from the site agent that the banks return for their money/loan was 3 of the houses!

Like the post office scandal and the selling of council housing ..... where has the money gone??.....

Thank you for having turned the background music off.

Follow the money!

Scotland under SNP have built tens thousands affordable homes and stopped right to buy. This is needed as the council house sales while allowing plenty to get on and up the ladder there was no replacements built which meant no cheap housing for lower income working people. P2P lenders like Assetz Exchange buy properties for social lending and rent out. Investors who can buy small shares in the property as a ltd company 7% or so plus % any price changes over time , NOT advice and any P2P investment should be spread multiple properties and multiple lenders. Not without higher risks as not FCFS protected

Shared ownership........You maintain and pay loads of money during your ownership and when you sell I'll have half the equity. Nice!