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Debate House Prices
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Grant Shapps, start building homes you ****
Comments
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Graham_Devon wrote: »There was a surge in population in the 1960's, the same as we are seeing now.
What happened then, surrounding houses? Was there mass building programmes? (I genuinely don't know).
Yes - the number of new houses was a major party political battle ground. It was during the 40s-70s that most of the large council estates were built.0 -
Lots of immigrants came over/down in the 60's & 70's too - my 'new town' was built using a lot of Irish labour for example. Back then, if I remember rightly, the workforce who built the houses lived in them whilst they finished off the rest of the estates, shopping areas and so on.
Sigh. The estate I was born on won awards for the planning and layout - green areas, playground, a brook running through it. Now it's a shambles and I'd be lucky not to be harmed.Emergency savings: 4600
0% Credit card: 1965.000 -
GOOD_GOSH_GOLLY_GHOULS wrote: »Like he's going to listen to an arrogent little tosspot from hpc. Grant Snapps doesn't have to do anything.
Delightful.
And if you are going to throw insults at other forum members, please try harder with your spelling. It's bad enough reading some of the rubbish you write, let alone sharing the forum with someone so poorly educated.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
High house prices will stay because:
1, government doesnt care about young people - they care about getting elected which is in the hands of the massive 35-65 generation of people who have massive vested interests in protecting their house prices.
2, Localism Bill (worst bill for young people in history) basically means nothing will ever get built and so house prices will go up. Result = wealth will further be shifted from young people the older generation because they will have a monopoly on the land.
3, Low interest rates = there is no pressure on anyone to sell, so everyone will just be holding out for what they paid. We need people to go broke and have to sell. This wont happen because it will be bad for the government, the banks and the 35-65 generation and so low interest rates will be maintained even in spite of high inflation.
House prices will probably go up this year, as the government and the BoE throw everything into ensuring they protect this bubble from bursting.
I dont see there being a class issue in this contry anymore. I think its simply the older generations trying everything they can to hoard all the wealth in this country whilst taking a dump all over the young people.I am not a financial expert, and the post above is merely my opinion.:j0 -
High house prices will stay because:
1, government doesnt care about young people - they care about getting elected which is in the hands of the massive 35-65 generation of people who have massive vested interests in protecting their house prices.
2, Localism Bill (worst bill for young people in history) basically means nothing will ever get built and so house prices will go up. Result = wealth will further be shifted from young people the older generation because they will have a monopoly on the land.
3, Low interest rates = there is no pressure on anyone to sell, so everyone will just be holding out for what they paid. We need people to go broke and have to sell. This wont happen because it will be bad for the government, the banks and the 35-65 generation and so low interest rates will be maintained even in spite of high inflation.
House prices will probably go up this year, as the government and the BoE throw everything into ensuring they protect this bubble from bursting.
I dont see there being a class issue in this contry anymore. I think its simply the older generations trying everything they can to hoard all the wealth in this country whilst taking a dump all over the young people.
Yes, but there is hope for younger people. Easier lending conditions. Simple eh ? Once the nasty banks put deposit requirements back to "normal" (< 10%) and multiples of > 3.5x are available, FTBs will be happy again.
I'm sure the is a flaw in that plan, somewhere. Can you see what it is yet ?
Hint: When FTBs come back into the market, the older generations will be even happier.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Yes, but there is hope for younger people. Easier lending conditions. Simple eh ? Once the nasty banks put deposit requirements back to "normal" (< 10%) and multiples of > 3.5x are available, FTBs will be happy again.
I'm sure the is a flaw in that plan, somewhere. Can you see what it is yet ?
Hint: When FTBs come back into the market, the older generations will be even happier.
Obviously.
There is only 1 solution. Build loads of new houses and allow house prices to fall quickly.
I refuse to buy untill house prices are at normal levels.
We need interest rates at 5% NOW and we need planning permision to be very easy to obtain. Then things will be okI am not a financial expert, and the post above is merely my opinion.:j0 -
I think its simply the older generations trying everything they can to hoard all the wealth in this country whilst taking a dump all over the young people.
Except of course, 100% of that wealth will ultimately be redistributed to the younger generations.
Unless you're expecting humanity to overcome this little thing called "death"...“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Except of course, 100% of that wealth will ultimately be redistributed to the younger generations.
Unless you're expecting humanity to overcome this little thing called "death"...
Yes but they would of had that wealth for 60 years of their 85 year lives, and the next generation will have this wealth for 15 years! And less of it!I am not a financial expert, and the post above is merely my opinion.:j0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Obviously.
There is only 1 solution. Build loads of new houses and allow house prices to fall quickly.
I refuse to buy untill house prices are at normal levels.
We need interest rates at 5% NOW and we need planning permision to be very easy to obtain. Then things will be ok
If you want to hold off buying a property, fair play to you. I wouldn't like to say if that is wise or not. If lots of new houses can't or won't be built, the last thing we need is FTBs being loaned ever larger amounts of money. That achieves nothing apart from making property owners feel more wealthy (and smug) - examples of this can be seen on this very forum. If there is a limited number of properties to go around, you can either generate a borrowing spiral, or carefully control lending criteria to make sure that those who really can afford to buy are the ones that do. Yes, there will be losers, but at least it won't put our financial system at risk, and it won't mean individuals taking large financial risks. It's the lesser of two evils in my opinion.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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