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Why are we building flats for foreigners?

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Comments

  • robmatic
    robmatic Posts: 1,217 Forumite
    leveller2911 wrote: »
    [/B]

    We don't need overpriced flats being built we need affordable homes and Social Housing.

    We probably need both. Why are they mutually exclusive?
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    £300k for a 1 bed in many areas in London is affordable though.
  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    Turnbull2000 wrote: »
    So foreign buyers can pay more. And often in
    cash too.





    Hardly a surprise developers prefer them over domestic homebuyers. There's
    little point giving local the opportunity. Most of then wouldn't be able to, or
    wouldn't want to, pay the price the developers can get elsewhere. It's
    simply the market at work.

    So why do we have the HTB schemes ? thats not "the market" working properly
    And as Boris Johnson correctly pointed out, blocking foreign buyers would potentially cause damage to London house prices i.e. drag them lower.

    Why is that a bad thing?.............The majority of it is paper wealth.Does it make wealthy Londoners feel superior that the rest of us..
  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    robmatic wrote: »
    We probably need both. Why are they mutually exclusive?

    They aren't mutually exclusive but the vast majority in need of housing do not need a £300k 1 bedroom flat. Its called prioritising ,which is usually what Governments do.




    They just need an affordable roof over ther heads.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    leveller2911 wrote: »
    We don't need overpriced flats being built we need affordable homes and Social Housing.
    More social housing does need to be built but why are they overpriced? Overpriced to you, to me, to everyone in London?
  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    AndyGuil wrote: »
    £300k for a 1 bed in many areas in London is affordable though.


    Affordable by who though and what areas of London?.

    Whats the wage for a cleaner,bus conductor,shop worker etc?.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    leveller2911 wrote: »
    Affordable by who though and what areas of London?.

    Whats the wage for a cleaner,bus conductor,shop worker etc?.
    There are no bus conductors in London anymore.

    You do realise that buying a house isn't something that everyone will be able to afford to do...
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    leveller2911 wrote: »
    Affordable by who though and what areas of London?.

    Whats the wage for a cleaner,bus conductor,shop worker etc?.

    Within zone 3 and for a reasonable area that is an acceptable price and will sell to a professional couple. The market is there for it and it is affordable for that segment.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Turnbull2000 wrote: »

    And as Boris Johnson correctly pointed out, blocking foreign buyers would potentially cause damage to London house prices i.e. drag them lower.

    As opposed to causing damage to the prospects of many that have to live and work in and around London. Nice to see which of his citizens he is concerned with.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    leveller2911 wrote: »
    If all of these flats are bought by wealthy people (Foreign of British) there won't be anyone left in London to serve them at Starbucks,Mc D,local garages etc etc etc...

    Lower earners will be forced to adapt. For example, see the 'hidden tenants' report recently in the news. Rather than typically rent a flat, you rent a single room. Tenants can pool their earnings, sub-let etc.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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