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"Housing Market Slumps"
Comments
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It doesn't matter to you that's obvious but it does to the people who can't buy and a lot of other people. You are the close minded person and as long as you are OK you don't care what happens to everybody else.No you have to include people not in the market who would like to be. 50% of full time workers could only get a mortgage of £140k so have no chance of buying. Property is always affordable for the people who can buy them but that is a very different thing to saying property is generally affordable.
Feeling sorry for someone who can't afford to buy is not the same as thinking that it is far from ideal that lrage majority of working people can't afford to buy.
Why would you expect 1 wage to buy 1 house in the capital city?
Why would you blind yourself to the reality that earned wages are not the only source of capital and wealth, especially in the capital of capital?
To get London down to £140k, a 70% house price crash, so your ideals can be achieved would result in what negative outcomes and would need what to happen for it to be feasible? Hint either a proper depression or 150,000 + annual new builds each year and a London that grows by 3 million persons per year. None of those are impossible but they dam sure are near impossible.0 -
No you have to include people not in the market who would like to be. 50% of full time workers could only get a mortgage of £140k so have no chance of buying. Property is always affordable for the people who can buy them but that is a very different thing to saying property is generally affordable.
Feeling sorry for someone who can't afford to buy is not the same as thinking that it is far from ideal that lrage majority of working people can't afford to buy.
and i never said it wasnt a problem for some people. of course there will be those who want to buy but cant afford. but how many? i really dont know.0 -
But two people both earning median full time earnings will get a £280k mortgage they would really struggle with that in fact that wouldn't buy a terrace house where I live in the south east 30 miles from London and £140k would get you just over half of a 1 bed flat.Why would you expect 1 wage to buy 1 house in the capital city?
Why would you blind yourself to the reality that earned wages are not the only source of capital and wealth, especially in the capital of capital?
To get London down to £140k, a 70% house price crash, so your ideals can be achieved would result in what negative outcomes and would need what to happen for it to be feasible? Hint either a proper depression or 150,000 + annual new builds each year and a London that grows by 3 million persons per year. None of those are impossible but they dam sure are near impossible.0 -
I don't have a solution but that doesn't mean there isn't a problem which in London and large parts of the south east there obviously is.
There is no realistic solution the closest unrealistic solution is probably something like this
1: confiscate much of inner London
2: knock most of it down
3: call in some Chinese architects as we are going to need very high rise dense and cheap residential blocks
4: Bring the build rate to a sustained 150,000 units a year
5: See London grow at 300,000 persons per year
6: Build all the infrastructure to support this +3 million per decade
7. keep going
8. Dont stop
9. Your almost there
10. London becomes a home to 20 million people by 2050 and is affordable or rather the outer parts are affordable the inner and central parts are more expensive than ever0 -
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But two people both earning median full time earnings will get a £280k mortgage they would really struggle with that in fact that wouldn't buy a terrace house where I live in the south east 30 miles from London and £140k would get you just over half of a 1 bed flat.
with less than 2 children per women we only really need to purchase 2 home once and the rest of the generations that follow get free housing. Already what some 20 million homes are owned and most are paid off the others will be paid off within 0-25 years thus most people wont need to pay for a full house
back to the gifts and inheritances that you keep ignoring
People without them cant compete with people with them its true in London and its true in stoke0 -
I'm just having a discussion on a discussion forum and just find it amazing how blinkered some of the obviously better off people and there lack of understanding of how the less well off live.would it not be wiser to utilize your time and energy on problems you might have a solution to?0 -
No and that's your problem I do wonder if you have any contact with people outside your refined circle.
whats my problem? im not the one on here suggesting house prices are way to high and its unfair some cant afford yet cant come up with a solution. you havent even come up with a reliable and accurate figure on how bad the situation actually is!0 -
On that one again are we my children are in thier late 30s and 40s so it's going to be a bit late when they get my money.with less than 2 children per women we only really need to purchase 2 home once and the rest of the generations that follow get free housing. Already what some 20 million homes are owned and most are paid off the others will be paid off within 0-25 years thus most people wont need to pay for a full house
back to the gifts and inheritances that you keep ignoring
People without them cant compete with people with them its true in London and its true in stoke0
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