Brown to build 3 million homes - Impact?

alisnood

Hi,
My wife and i are about to buy our first house but we are a little confused about what impact if any Browns decision to build 3 million homes by 2020 will have on the market.

We are a little jittery about buying at a time when house prices are very high and would welcome any thoughts on Browns vision. We understand that irresponsible and ill thought out house building in Spain recently has seen thier market implode.

Cheers
:beer:

epz_2

6.25%+ interest rates in the near to medium term will cause the market to implode long before any houses get built.

fact is unless the south east doesnt want any public workers like nurses, fire fighters and police i suspect a big wad will be given to them in lue of wages that would allow them to live in such a high cost location.

ceridwen

WHERE? I wasnt aware we had loads of spare land going begging - except for the highlands of Scotland I suppose. It is a big problem situation all round - but how do we avoid drowning in a sea of concrete - because everything is built up? perhaps 3,000,000 was a misprint - too many 0's?

dolce_vita

ceridwen wrote: »

WHERE? I wasnt aware we had loads of spare land going begging - except for the highlands of Scotland I suppose. It is a big problem situation all round - but how do we avoid drowning in a sea of concrete - because everything is built up? perhaps 3,000,000 was a misprint - too many 0's?

Or literally drowning if the majority of these new homes are built on flood plains.

Gorgeous_George

The impact of more homes will be to reduce prices unless, of course, the extra homes are accompanied by yet more immigrants or a sudden boom in birthrates.



GG

ajaxgeezer

alisnood wrote: »

Hi,
My wife and i are about to buy our first house but we are a little confused about what impact if any Browns decision to build 3 million homes by 2020 will have on the market.

We are a little jittery about buying at a time when house prices are very high and would welcome any thoughts on Browns vision. We understand that irresponsible and ill thought out house building in Spain recently has seen thier market implode.

Cheers
:beer:

......lol granted, he's not the clearest of speakers, but he said more than three quarters of a million

Gorgeous_George

ajaxgeezer wrote: »

......lol granted, he's not the clearest of speakers, but he said more than three quarters of a million

or was it three houses. The following link supports the 3,000,000 figure (clicky)

You may wish to check you golf handicap!



GG

ajaxgeezer

Gorgeous_George wrote: »

The impact of more homes will be to reduce prices unless, of course, the extra homes are accompanied by yet more immigrants or a sudden boom in birthrates.



GG

.....the two could go hand in hand, I think the birthrate among Asian families is four times that of traditional western families. As more folk enter from Asia, it would seem to make sense that those homes will be used up, as the younger generation of immigrants get away from the traditional Type 37 housing.

Gorgeous_George

I agree with you ajax but was too afraid to say for fear of being labelled a racist.

GG

olly300

Actually GG and Ajax studies have found that immigrants once established here tend to have families that follow the western norm i.e. 0-2 children rather than loads. So while the first generation may have loads of children the second generation doesn't.

So the only thing the government can do is keep allowing more immigrants to work and hope they all b!gger off aboard just before they get to pension age.

BTW lots of Eastern Europeans do want to go back tp retire as they say all the best people are aboard.

alisnood

Mmm so it is 3m homes by 2020 and the general feeling is that an increase in housing will depreciate prices but this effect will be slighlty reduced by more people coming to the UK?

So net result reduced house prices?