People Who Spend 60% Of Income On Rent Are Stupid, Landlord Tells LBC
6 February 2017, 08:40
This private landlord called LBC to say that renters who are spending 60% of their income on rent are "stupid".
Tom in Bayswater said he has a portfolio of properties in central London and insisted it was entirely up to him how much he charges of it.
And using the analogy of buying a car, he said if people can't afford to live in one of his flats, they should live somewhere cheaper.
The caller told Clive Bull: "Rent controls - they are never going to work, because what you're trying to do is create an artificial set of circumstances to so-called level the playing field. In practice, it will never work.
"If I want to buy a Mercedes sports car and it would cost me £50,000, I've got the choice of buying that car, or I can buy a Ford or a Vauxhall because I know it's a quarter of the price.
"I'm sick of people complaining that the rents are too high."
Clive stopped him to say that this system simply isn't working for people, but Tom insisted: "If people are using 60% or 70% of their income, they shouldn't be living in that accommodation.
"It stands to logic, you must be stupid."