House Waiting Lists between 10 and 33 YEARS

the_ash_and_the_oak

yes but to compare say Liverpool to Bristol to Edinburgh to London in terms of its wage/price ratio

(harder to do this with smaller towns because of commuting (ie the examples of rich pretty villages with no jobs but people work elsewhere) but in terms of larger cities this becomes negated due to size imo)

chucky

bernard_shaw wrote: »

Nothing to do with liquidity, then?

as Hamish says the HSBC in Wigan has the same lending criteria as the HSBC in Bristol

ruggedtoast

chucky wrote: »

as Hamish says the HSBC in Wigan has the same lending criteria as the HSBC in Bristol

It probably sees more people from Wigan though.

chucky

ruggedtoast wrote: »

It probably sees more people from Wigan though.

i'd say a better quality person too

sorry Wigan

HAMISH_MCTAVISH

Genuinely surprised none of the house price critics have come up with a well-argued response as to why such huge differences exist between similar houses in different areas of the UK if not for supply and demand.

Therefore we must assume that none of them can.

In which case we'll move on to the second part of the thread.....

As it is clear that higher prices are the tool which rations the limited supply of housing in the areas of the UK with the highest demand, then if you impose artificial house price caps through lending constraints, higher taxes, or anything else...... How do you propose the supply be rationed then?

Waiting lists?

Emy1501

HAMISH_MCTAVISH wrote: »

Genuinely surprised none of the house price critics have come up with a well-argued response as to why such huge differences exist between similar houses in different areas of the UK if not for supply and demand.

Therefore we must assume that none of them can.

In which case we'll move on to the second part of the thread.....

As it is clear that higher prices are the tool which rations the limited supply of housing in the areas of the UK with the highest demand, then if you impose artificial house price caps through lending constraints, higher taxes, or anything else...... How do you propose the supply be rationed then?

Waiting lists?

Stilll waiting for you to answer my about the 200K property in Glasgow and my response?. As for your second point there are 880K home in the UK empty. There are also many investors with lots of homes. As far as I'm aware most on the relevant waiting lists live somewhere.

As said before once QE stops and interest go back to reasonable levels prices will find a price again in line with earnings. This would have happened in 05 if not for the credit bubble and as we know the credit bubble will not be allowed to happen agin in our lifetime the credit issue will not be a problem in the future.

There will always be areas which will be out of the reach of many due to supply and demand and artifical wealth for the area

the_ash_and_the_oak

well I wasn't sure we'd really finished with the first part as i hadn't really seen any comparing like with like but I'm presuming its something to do with wages

as for 2nd part - not presuming any artificial price caps because lending contraints, taxes etc have always been there (no one ever lent at 14x salary) - their effects are sometimes stronger than others. But lets take an example for a second of...say 10% mortgage rates (purely hypothetical) - this would have an effect on constraining the amount that could be borrowed (2% would also be a constraint - eg it would not allow someone on 9k to buy a 300k house) - fewer people would be able to buy houses if this was the case imo - the rationing is inbuilt and taken care of imo

bernard_shaw

HAMISH_MCTAVISH wrote: »

Genuinely surprised none of the house price critics have come up with a well-argued response as to why such huge differences exist between similar houses in different areas of the UK if not for supply and demand.

Therefore we must assume that none of them can.

Liquidity governs demand !!!!!!.

HAMISH_MCTAVISH

Emy1501 wrote: »

You can pick a decent flat within a commuting distance to London for under 200K. We would need to know the type of property you are talking about to consider.

OK lets compare nice property within decent commuting distance of London.


3 bed terrace for 450K



With a nicer (imo) property within decent commuting range of Glasgow.

3 bed detached for 175K

PasturesNew

HAMISH_MCTAVISH wrote: »

Can you explain the difference in price, if not through supply and demand?

I would imagine more people have properties lying about the place in London "just in case" and "for when they're in town" than most other towns. Mostly the richer bugg4hs, who have big homes elsewhere too.