Leaving EU? (what happens to existing none uk residents?)

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^^^ this

people seem to ignore this when moaning about house prices and hoping they'll come down or crash. The price is just a reflection of the competition for houses, if it comes down it is probably because there is something affecting people's ability to compete for houses and that thing is probably going to affect most people - ergo someone who can't buy now isn't necessarily going to be in a better position post crash... if interest rates rise and prices fall a bit they'll still be unaffordable to people for whom they were out of reach for before

it isn't like people suddenly decide they don't want to own homes... competition for housing will remain and how competitive it is depends on the location and the supply of homes
 
Glaucus said:
In a crash you would be just as unable to buy a house.
This whole vote really has stopped people from being able to think.

If theres a house market crash it's because mortgage aren't as available and or have risen in cost, so it's no easier fir you to buy.
The only people it helps out is rich people with massive deposits worth a substantial amount if the property value.

For housing to become more affordable we need many new laws, not a crash.
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For housing to become affordable we need three things ;

  • Tighter regulation of the mortgage market, particularly regarding Buy To Let mortgages
  • Tighter regulation of the rental market, so that tenants aren't milked as cash cows by landlords and letting agents alike.
  • Increased supply of housing. It would be great to see institutional investors encouraged to mass produce new-build housing for the private rental market. Pension funds do this across Germany, as a means of providing a sustainable and ongoing income stream.

Housing affordability has deteriorated massively over the past 15 years, with housing in many areas having trebled in price over this time frame. A proportion of this will be down to supply failing to keep price with demand, but is largely due to wide-spread fictionalization of the market, with many people seeing housing as an investment vehicle for retirement.

To clarify my position; If it were not for the rental market in this country being so badly regulated, I would have no aspiration to buy or own my own house. The flexibility of renting and being able to move relatively quickly has allowed me to progress my career more than I would have done otherwise.
 
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And ditch the help to buy schemes, which just make overpriced housing possible.


Would also like to see councils having to set aside land for alternative living, like tiny houses(getting popular in America, basically wooden houses built in lorry trailers), along with a law which states a right for an affordable roof over your head.
 
Well all I can say is I've been enlightened. I've not really been following the debate for In/Out let alone making my mind up! Thanks :)
 
HaX said:
  • Tighter regulation of the mortgage market, particularly regarding Buy To Let mortgages
  • Tighter regulation of the rental market, so that tenants aren't milked as cash cows by landlords and letting agents alike.
  • Increased supply of housing. It would be great to see institutional investors encouraged to mass produce new-build housing for the private rental market. Pension funds do this across Germany, as a means of providing a sustainable and ongoing income stream.
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None of which we're going to see a (UK) government legislate for unfortunately.
 
People still blaming 10 in a bed migrants for inflated house prices when it suits them? Houses will never go down in the UK. Too much is intrinsically tied into a system where their value just keeps going up
 
Nothing will happen to them at all. And if we want to still trade freely with the rest of the EU, nothing will change as most likely part of that agreement will include free movement of labour.

The whole immigration / get control of our borders is a complete red herring.

Leaving will just mean we get no veto on who joins.
 
Efour said:
People still blaming 10 in a bed migrants for inflated house prices when it suits them? Houses will never go down in the UK. Too much is intrinsically tied into a system where their value just keeps going up
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A good example of an inappropriate generalisation right there. Not all migrants are 10 to a bed - some are though. Why would you expect anything other higher house prices when you have a quickly growing population.
 
scorza said:
A good example of an inappropriate generalisation right there. Not all migrants are 10 to a bed - some are though. Why would you expect anything other higher house prices when you have a quickly growing population.
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A growing population that is both and indicator and factor in the strength of our economy and has nothing at all to do with EU membership.
 
inogen said:
A growing population that is both and indicator and factor in the strength of our economy and has nothing at all to do with EU membership.
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Glad you pointed out that the strength of our economy has nothing to do with the EU :D Even around the time of the 2008 great recession we still had positive net migration. The fact is that while we're in the EU we're not allowed to control our own borders.
 
A generalisation with supply and demand right there Scorza.

It is poor management of the accommodation sector which is to blame. Economic migrants are usually young, are ready tow ork and have already been educated at the cost of their home country. They increase the amount of labourers and builders available to build homes for the government/private developers proportionate to the rest of the population and also pay tax which contributes to what the government could use to build these houses. They may not all house share in 10 but they house share more than the locals, and given that they contribute more relative to their cost (considering they are young yet already educated), you can say that if the building of houses was managed better, demand for housing would drop even with migrants.

The issues with house prices lie with mismanagement of 'supply' when the resources to build are there (labourers and money) as well as mismanagement of 'demand' with things like buy-to-let mortgages and help to buy schemes.
 
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scorza said:
A good example of an inappropriate generalisation right there. Not all migrants are 10 to a bed - some are though. Why would you expect anything other higher house prices when you have a quickly growing population.
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Cos I'd expect a government with a bit or foresight to proactively encourage building but unfortunately that can't happen in the UK as it's political suicide to do anything that actively makes prices and ultimately investments fall.

Great for me ill have a £500k London terraced house in 7 years at this rate. Ridiculous. ..
 
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Efour said:
Cos I'd expect a government with a bit or foresight to proactively encourage building but unfortunately that can't happen in the UK as it's political suicide to do anything that actively makes prices and ultimately investments fall.

Great for me ill have a £500k London terraced house in 7 years at this rate. Ridiculous. ..
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It's not that easy to ramp up house building production, and it's not totally within the government's control either. A more sensible government would be proactively managing immigration to match capacity more closely I would suggest.
 
HaX said:
For housing to become affordable we need three things ;

  • Tighter regulation of the mortgage market, particularly regarding Buy To Let mortgages
  • Tighter regulation of the rental market, so that tenants aren't milked as cash cows by landlords and letting agents alike.
Click to expand...


  • Not going to happen. Even the government is making Housing Association's sell their properties to tenants. How are they going to make up the shortfall due to loss of properties? Build new ones using money from the ever-increasing sale price of the property! Thats right the govt is actually encouraging the housing bubble and only wants to increase it!

    [*]Increased supply of housing.
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    Build, build, build! This is the biggest fallacy of them all. This only increases the size of the market and inflates the bubble even further. Property has become a boom market for investors whether they be overseas or here. Take a look at Homes under the Hammer there are property investors with hundreds of properties they own all turned into "rental machines" as the presenters call it.

    Buy to Let is whats driving this market, period. That and the immigrants to fill the properties and churn out rent to fill investors pockets.
 
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