Housing Supply falls to lowest level on record

HAMISH_MCTAVISH

the number of homes for sale has fallen to its lowest level since records began in 1978.

The Royal Institution of Chartered Surveyors (Rics) warns of an "acute shortage of supply"

Each surveyor had just 52 for-sale properties on the books in May, the lowest monthly figure registered in nearly four decades.

And of course absolutely nobody anywhere could have seen that one coming as the inevitable result of a dysfunctional credit market that the government has spectacularly failed to repair despite a number of "too little too late" schemes.

Anyway...

The findings will intensify the debate about whether sufficient numbers of homes are being built to serve Britain's growing population

http://www.telegraph.co.uk/finance/property/house-prices/11666634/Housing-market-grinds-to-a-halt-as-sales-hit-lowest-level-since-1978.html

I doubt it.

Some of us have been noting for years that a massive shortage of housing was the main cause of rising prices pre-2007, and that credit restrictions since then have only worsened the situation, forcing a generation to buy houses for their landlords instead of themselves.

Now house prices have reached new record highs, rents have as well, and building remains close to 100 year lows.

Ah well...

mayonnaise

HAMISH_MCTAVISH wrote: »

Some of us have been noting for years that a massive shortage of housing was the main cause of rising prices pre-2007, and that credit restrictions since then have only worsened the situation, forcing a generation to buy houses for their landlords instead of themselves.

Now house prices have reached new record highs, rents have as well, and building remains close to 100 year lows.

Ah well...

Credit restrictions cheered on by the usual suspects on here. It was supposed to be their ticket to picking up a house on the cheap.

Ah well...

Physics

We have a bigger population than ever before. We have more houses than ever before.

Why are houses for sale at their lowest level?

purch

Physics wrote: »

We have a bigger population than ever before. We have more houses than ever before.

Why are houses for sale at their lowest level?

It must be rocket science :eek:

movilogo

Stagnant market is often an early sign of impending crash.

Many people want to move but the next rung of ladder is out of reach even after extra gain from their current properties.

So people are staying put, resulting in properties not coming out in the market.

In the meantime, there is long list of buyers, so if something comes up snapped at high price, which is pushing the price for next house in the market even higher, which in turn is preventing people from moving and this cycle will continue until the bubble bursts.

NorthFin

Shortage of supply matters zip in the many slums and refugee camps around the world.

They have the real housing supply shortage at lowest ever levels on record, but all that matters is how many can afford the current prices!