Reckless renting may be as bad as reckless lending

Reckless renting may be as bad as reckless lending

If we can’t get on top of our housing problems it will mean that wealth accrues only to those who own land and homes

At The Sunday Business Post’s recent Property Summit, I spoke about home ownership and wealth.

It occurred to me that when we talk about lending we often hear of ‘reckless lending’, but what about ‘reckless renting’?

This can be defined as spending too much on rent. It involves making an over-commitment to an overhead in the same way that borrowing too much does.

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