Re:The Grenfell Tower inquiry is uncovering a major corporat...
by avianlyric on Sunday December 06, 2020 @05:59PM
(#25327497)
> Why on earth would one do this?
There’s no real alternatives (other than living on the street). Why would builders and landlords give up such an obvious advantageous arrangement?
People are pushing for change, common holds are slowly becoming a thing. But ultimately there’s a housing shortage in the U.K, and beggars can’t be choosers. It sucks, but you can’t argue with reality.
> "Purchasing" one of these "long-leases" strikes me as doublespeak, a gimmick no different from prepaying 99 years of rent. Ownership doesn't expire.
It’s just like purchasing a future, or any other time bounded asset. Your purchasing the opportunity in a manner of speaking, your ownership of the lease never expires, it just becomes worthless after 99 years.
There’s no real alternatives (other than living on the street). Why would builders and landlords give up such an obvious advantageous arrangement?
People are pushing for change, common holds are slowly becoming a thing. But ultimately there’s a housing shortage in the U.K, and beggars can’t be choosers. It sucks, but you can’t argue with reality.
> "Purchasing" one of these "long-leases" strikes me as doublespeak, a gimmick no different from prepaying 99 years of rent. Ownership doesn't expire.
It’s just like purchasing a future, or any other time bounded asset. Your purchasing the opportunity in a manner of speaking, your ownership of the lease never expires, it just becomes worthless after 99 years.