House Waiting Lists between 10 and 33 YEARS

IveSeenTheLight

HAMISH_MCTAVISH wrote: »

So you have to do it slowly, by raising population AND raising tax/NI over the course of 50 to 75 years.

Not sure that is sustainable either.
Feel that the government has to herd people into being able to provide for themselves in the future.

IveSeenTheLight

Emy1501 wrote: »

Hamish only 87K+ homes are being built this year because that is the demand. If builder could build and sell 150K homes they would. The reality whilst their maybe 250K new households a year builder could not sell 250K homes a year as not enough people would buy them.

Not quite true Emy.
Builders are cutting back as they do not want to flood the market with supply and be forced into selling at lower prices.

Better for them to cut back for now and increase building when transactions start to increase

chucky

Emy1501 wrote: »

There are lots of homes for sale and lots of homes to rent in many areas of the country. Show me a postcode in the South East with no homes for sale of to rent and I will listen to your argument.

there are houses for sale but you've generalised and taken it very simply.

how many high quality, nice area, nice house, a house that has everything. there is a range of quality of housing.

another reason your example makes little sense because there is high demand for PS3's or Wii's but there is still stock in HMV and Game for these items. price of these items is also a factor here. if one of these shops sold them for £10 there would be no supply in that shop with high demans but a supply the others shops with little demand.

Emy1501

IveSeenTheLight wrote: »

Not quite true Emy.
Builders are cutting back as they do not want to flood the market with supply and be forced into selling at lower prices.

Better for them to cut back for now and increase building when transactions start to increase

But Hamish is saying there is a massive demand for property though, 33 year social housing waiting lists etc. If there was real supply and demand issue then people would buy? Where I used to live 3 new build houses were built last year. None sold and they are rented now. The reality is the supply and demand issue is not really there apart from in the most desirable parts of the best towns near the best schools etc. Those who cant afford to live in these area live where they can afford.

HAMISH_MCTAVISH

Emy1501 wrote: »

Hamish only 87K+ homes are being built this year because that is the demand. .

There are three factors at play here.

1. Demand
2. Desire
3. Need

It is entirely possible to have a need for more houses, and for there to be plenty of desire, but for there not to be a demand matching the desire or need because of artificial funding constraints. Like today.

There are plenty of good potential FTB's out there, who could happily afford to pay a mortgage at 5%, who are paying that much rent today, but who cannot raise the 25% deposit needed to translate need and desire into effective demand.

As for the straw man argument of.... "Well there are plenty of houses for sale or rent today".

Yes... There are. But not enough to keep prices stable.

Prices have risen, as a national average, by 10% in 10 months. So we know for a fact that todays levels of available stock are low enough to generate HPI.

Remember, prices simply cannot rise if there is no competition for supply, and greater supply than demand. It is an economic impossibility.

IveSeenTheLight

Emy1501 wrote: »

But Hamish is saying there is a massive demand for property though, 33 year social housing waiting lists etc. If there was real supply and demand issue then people would buy? Where I used to live 3 new build houses were built last year. None sold and they are rented now. The reality is the supply and demand issue is not really there apart from in the most desirable parts of the best towns near the best schools etc. Those who cant afford to live in these area live where they can afford.

Hamish was referring to social housing

Supply and demand are always there and both are showing decreased levels.
It would seem that there is still sufficient demand for the limited supply. This is what has contributed to a rising market all this year.

Sentiment also plays a big part as well as cautiousness.
What we are also seeing is that people are being cautious about buying while they await a firmer confirmation of the economic situation

HAMISH_MCTAVISH

Emy1501 wrote: »

But Hamish is saying there is a massive demand for property though, 33 year social housing waiting lists etc. If there was real supply and demand issue then people would buy?

No, I am saying there is a massive need and desire for property, but effective demand is being limited by price and mortgage availability.

But imagine for a second prices did come down, and FTB's could get mortgages. What do you think would happen then, given the current shortage of housing to fulfill the need and desire? (which is why they are currently rationed by price)

If you are not going to ration by price, as many on here advocate,, then you must ration by waiting lists.

Which was the point of the OP.

bernard_shaw

HAMISH_MCTAVISH wrote: »

I pay the highest rates of tax, claim no benefits what so ever, and do not use any state funded health care or similar services as I have private insurance. I also have savings, a healthy private pension, and 2 properties, one of which is already mortgage free. I am counting on the fact that the state will pay me little, if anything, during my lifetime and have made provision to pay for myself, despite paying all the National Insurance etc that I am required to as well.

That's nice. That clearly means you win all arguments because of your huge superness. Sorry for the misunderstanding. Higher rate taxpayers are always better at everything, including being right! And, of course, having 2 properties makes you twice as right.

Tell me, though, if you expect the state to provide you with nothing, how will you arrange for your military defense? Do you retain mercenaries? How do you get around? Can you hover? Etc.

HAMISH_MCTAVISH

bernard_shaw wrote: »

how will you arrange for your military defense? .

I was thinking of hiring a troll to sit under the bridge over my moat.

Are you available?

lostinrates

HAMISH_MCTAVISH wrote: »

I was thinking of hiring a troll to sit under the bridge over my moat.

Are you available?

I try not to thank'' nasty'' things but that is very funny!