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Comment by highwaylights | Hacker News Reader

Time is a factor here, too. The longer they wait the harder it’ll be to get it back under control - which may not even be possible at this stage, given that they’ve grossly underestimated the scale of the problem at every step.

The thing that really worries me is that most people don’t understand how any of this works and are still worried about fuel costs. They have no idea that a further (minimum) 1.5% hike is imminent, and those worst affected (renters/trackers) won’t know that they’re the ones who’ll get wiped out by it.

A freeze on rent increases (like the fuel cap) might be needed, but good luck getting this government to agree to that.

Edit: as I think about it a rent freeze would be great for shaking the exploitation out of the housing market too.

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I appreciate the downvotes from the landlord who thinks they’re an astute investor and not just exploiting someone further down the wealth pyramid.

For anyone not aware of this - housing is not a free market, especially in the UK (your tenants are universally forced against their will to rent from you due to nimbyism).

Why are landlords exploitative?

Nobody is being forced against their will to rent a property they don’t want.

Tenants already get plenty of protections that are only due to be strengthened.

Should choice really be limited to owning an expensive asset or accepting whatever the government is capable of providing (council houses aren’t looked upon fondly). What you refer to as exploitation I’d see as freedom of choice.

It’s exploitative because your counterparty does not have the luxury of choice.

The people who actively work the system to prevent new construction are the same people collecting rents from tenants left without options because of bans on construction.

NIMBY attitudes aren't confined to landlords. That's quite a common sentiment among homeowners. People working to secure their best interests shouldn't come as a shock.

There are plenty of options for people looking to get on to the housing ladder including government backed schemes that require deposits as low as 5%. If someone is incapable of saving a 5% deposit, are they fiscally responsible enough to own a home?

You seem to be talking about inflation rather than interest rates

Both.

Raising the base rate is a tool to reduce inflation. They’re two sides of the same coin.

They are related although the government does not control interest rates, the BofE does.

To be honest I'm not super worried as I can see the inflationary pressure is mostly coming from the knock on effects of the Ukraine which will undoubtably end at some point. Also we're coming off the back of Brexit and printing a load of money for Covid.

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