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Debate House Prices
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All of a sudden "HPI" seems to be a bad thing.
Comments
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Doubt it, as soon as builders see supply possibly causing price falls, they will stop building and just mothball the land. Sitting on the land costs very little.
builders will certainly stop building if they can't sell at a profit.
however, not building costs money, reduces profit to loss, reduced dividends to zero, makes shareholders sack the board, puts one's bank lending in doubt.EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
The south west is a huge, long, area. Geographically it's not like other areas as it's a long pointy finger shape, mostly without adjoining areas.... other areas are more round and joined on more sides.sadly, there really is no solution to wanting to buy in an (relatively) expensive area but without means to do so.
I've been down in the SW recently and have been a little surprised at the amount of new building going on, so maybe prices will stabilise or even fall.
The thing is, if you want/need to be in one area, it's no good if houses are being built 100-200 miles away
Or even 30 miles away if you're doing a "regular job on regular pay" as the commuting costs then impact upon its affordability too.
There are lots of lovely houses, at great prices ..... in places I don't want to be in for a variety of reasons .... and I'm sure they're at better prices (even though they're lovely) because many others don't want to be there either 0 -
So are profits too high? Wages too high?builders will certainly stop building if they can't sell at a profit.
30 years ago I dated the son of a builder. It was a family firm, having been established 2 generations before. They lived in a regular semi-detached house, without taking foreign holidays or having any bling/gadgets in their life. No extravagence on clothes or meals out. They were quietly just about comfortable.
These days there seems to be a lot of bling lifestyles - from the bricklayer to the developers.
Plumbers reportedly on £50k/year .... when 30 years ago many plumbers would have ridden a bike to work and just lived a regular lifestyle... on regular wages.
Did everybody start "asking what they wanted" because money was so readily available (to some/investors)?0
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