They will be able to though when the market prices adjust.
-
Notice regarding image hosts and attachments. See here.
Housing crisis solutions
- Thread starter ChroniC
- Start date
They will be able to though when the market prices adjust.
when will that be, people have been saying that for many decades and except for a couple of tiny bursts that last barely a few years, prices keep going up. with no sign of a readjustment, with government schemes to help ftb and keep interest rates low.
Oh Jesus I wrote a great reply and pressed back on my pjone. Poof it's gone.
Short answer . Never. UK is FUBAR. Needs government with real incentive to invest but political suicide as it's ingrained in to British culture to own bricks and mortar as some kind of sign of success. So when you die you can give half after tax to your vile kids in the off chance they will afford a deposit on a house 30 years later... Dumb
Short answer . Never. UK is FUBAR. Needs government with real incentive to invest but political suicide as it's ingrained in to British culture to own bricks and mortar as some kind of sign of success. So when you die you can give half after tax to your vile kids in the off chance they will afford a deposit on a house 30 years later... Dumb
This has literally never happened.
Demand is greater than supply.
Lack of supply means values go up, making property an attractive investment.
Brexit has worsened this to a degree especially in PCL as a weaker pound means cheaper property for foreign investors.
The only way to stop this is to legislate against foreign investment and/or very heavily tax multiple ownership, thus reducing the potential profit from investment. This is NEVER GOING TO HAPPEN, for the same reasons we are already in this position.
More houses could be built so that supply outstrips demand. This is not a popular option (destruction of greenbelt etc) and is also, sadly, unlikely to create a large drop in value or a restriction in value growth. Land prices are high (even for brownfield sites), developers need to turn a profit so even "affordable" housing in high demand areas is not affordable for a large portion of the population.
A large hike in interest rates may well cool the market a bit though but I don't know how likely that is in the near future.
Lack of supply means values go up, making property an attractive investment.
Brexit has worsened this to a degree especially in PCL as a weaker pound means cheaper property for foreign investors.
The only way to stop this is to legislate against foreign investment and/or very heavily tax multiple ownership, thus reducing the potential profit from investment. This is NEVER GOING TO HAPPEN, for the same reasons we are already in this position.
More houses could be built so that supply outstrips demand. This is not a popular option (destruction of greenbelt etc) and is also, sadly, unlikely to create a large drop in value or a restriction in value growth. Land prices are high (even for brownfield sites), developers need to turn a profit so even "affordable" housing in high demand areas is not affordable for a large portion of the population.
A large hike in interest rates may well cool the market a bit though but I don't know how likely that is in the near future.
It's also impractical to just say build more houses. There's only so many people with the skills needed to build - sure the supply of that labour has increased in recent years thanks to immigration but you still need to organise and supervise the builders. Also, building houses is an expensive business and is normally funded by debt i.e. banks lending to builders. There's only so much money that builders will be able to take on because even if there's a sudden slow down in the housing market then the builders still have to pay that money back.
short sited view, when we build in one of the most labour intensive and least sound and heat insulation ways. in a country that the labour is most expensive.
so many ways we could build better faster and cheaper whilst raising standards, as well as enabling the system so people can live in alternative properties.
so many ways we could build better faster and cheaper whilst raising standards, as well as enabling the system so people can live in alternative properties.
We are the most 'housey' nation in Europe
I disagree that luxury flats are better places to live, I'd much rather live in a house than a flat. I value having a garden to myself and no upstairs neighbours to put up with.
Soldato
- Joined
- 7 Jan 2009
- Posts
- 7,199
I've been in work since i left high school (im now 27) and i pay very little into a pension pot,because im unable too..if i could pay in more i would,Sadly my wages wont allow that.
1.housing/rents are too much
2.jobs still not paying enough even after the nat min wage increase.
Sure its okay for the short term,but long term..unless something great happens and i land a 100k a year job lol,Im scared for my older age.
Not to mention service charges that the freeholder can increase every year.
This isn't a problem with apartments, it's a problem with the UK.
Lots of demand for housing? Lack of space (imagined or otherwise)? Build higher-density housing.
- Joined
- 13 Apr 2010
- Posts
- 18,512
- Location
- Sunny Sussex
It's a problem with apartments (or flats as I call them
) in the UK. Most people accept that if you buy an flat in a shared building you have to stump up to maintain the common areas, and if there are amenities such as a lift then you'll have to pay more. The problem is when the freehold is owned by a third party who think they can raise the price by as much as they like year on year. I heard about one block of flats near where I live where the annual service charge has risen from £800 to £3000 over 7 years. I believe there's an ongoing court case to determine the legality of these sort of rises.
Last edited:
I guess forcing people to live in flats would indirectly help the problem by keeping the population down due to the increased number of murders of inconsiderate ****
. I lived in a flat for a couple of years and I would never do so again, I'd rather live in a tentI paid £105k for my house, not £500k. (It's now worth about £130k, I think)
Agree.
I will not move into a new build as they are shocking inside, can hear everything across the house, rubbish walls etc etc.
