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Generation Rent Urges Vendors to Sell for Less
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Generation Rent Urges Vendors to Sell for Less
Tenant group Generation Rent is urging vendors to sell their homes for less than they are worth, in a bid to solve the housing crisis.
Additionally, the organisation believes that landlords letting a flat should charge less than the market rate.
In a post on its website, Generation Rent says that ordinary people have a personal responsibility for the housing crisis.
Zeph Auerbach, who wrote the post, says that homeowners with a mortgage will make a huge profit from their asset, meaning that they are not as affected as the tenants who pay “extortionate rents.”
Auerbach writes: “Let’s put it plain: some of us are winners, some of us are losers.
“And if you are winning by selling or letting at a ludicrously high price, yes, you are continuing to the dire situation for your friends and strangers alike.”
The blog says that when it comes to housing, most people behave like “little caricature capitalists.”
It concludes: “If you are profiting obscenely from the rising housing market, you are contributing to it.”1
1 http://www.generationrent.org/the_uk_housing_crisis_are_you_profiting_from_it
