The house 'earnings' award goes to ....

padington

http://www.zoopla.co.uk/discover/property-news/house-prices-increase-more-than-earnings-in-a-third-of-uk-areas/?utm_source=content&utm_medium=email&utm_campaign=zoopla-20170318&utm_content=hero&utm_term=find-out-more#PiBXQAqbRcmzZQ7O.97

(AKA Woodgreen)

Windofchange

It's alright though - perfectly sustainable, no bubble, move along...

padington

Windofchange wrote: »

It's alright though - perfectly sustainable, no bubble, move along...

If you have one monopoly board and a growing number of players and a banker issuing more money out every year to every new player, what will be the consequence ?

... and what has happened to housing pretty consistently since 1945 ?

Windofchange

padington wrote: »

If you have one monopoly board and a growing number of players and a banker issuing more money out every year to every new player, what will be the consequence ?

... and what has happened to housing pretty consistently since 1945 ?

You run out of houses in your monopoly boxset, people go round and round paying all their cash to the Rich on Mayfair and Parklane, and the dog, the car, the thimble, the shoe and the battleship go bankrupt owing the top hat millions.

lisyloo

Windofchange wrote: »

You run out of houses in your monopoly boxset, people go round and round paying all their cash to the Rich on Mayfair and Parklane, and the dog, the car, the thimble, the shoe and the battleship go bankrupt owing the top hat millions.

However life is going to go on.
We don't get to end the game and put it away.

padington

Windofchange wrote: »

You run out of houses in your monopoly boxset, people go round and round paying all their cash to the Rich on Mayfair and Parklane, and the dog, the car, the thimble, the shoe and the battleship go bankrupt owing the top hat millions.

Exactly so next time you land on vine street and someone whispers 'crash' in your ear whisper 'Maybe but maybe not but once I've paid my mortgage off, this place is all mine and at that point everyone else will have wished they had the balls to buy this place'.

Windofchange

lisyloo wrote: »

However life is going to go on.
We don't get to end the game and put it away.

Yup, we put it away for a while and then get the board out and start all over again, and maybe someone else wins. Monopoly is the perfect parody of life - you start off with cheap property, cheap rent, then people buy more and more, prices rocket upwards and your £200 for passing go buys less and less as inflation takes hold, and your 1 bed house on Old Kent Road turns into a 5 bed HMO that costs three times as much to live in. Bankruptcy follows for the masses and the winner sits proud with his empire.

Capitalism never sits still, is never happy. I'd still choose it over other societal constructs, but one must recognise the by products of insatiable greed are cycles of boom and bust. This is no different. Anyone who reads that article above and thinks this is sustainable needs their head looking at.

economic

Windofchange wrote: »

Yup, we put it away for a while and then get the board out and start all over again, and maybe someone else wins. Monopoly is the perfect parody of life - you start off with cheap property, cheap rent, then people buy more and more, prices rocket upwards and your £200 for passing go buys less and less as inflation takes hold, and your 1 bed house on Old Kent Road turns into a 5 bed HMO that costs three times as much to live in. Bankruptcy follows for the masses and the winner sits proud with his empire.

Capitalism never sits still, is never happy. I'd still choose it over other societal constructs, but one must recognise the by products of insatiable greed are cycles of boom and bust. This is no different. Anyone who reads that article above and thinks this is sustainable needs their head looking at.

Who cares. By far most people don't complain like you and get on with life even though they can't afford to buy. You have serious issues if you think like you do.

westernpromise

Framing all this as a moral question doesn't help. Hating people who already own doesn't help either. The argument that there's something morally wrong with property investing fails to understand the most basic point about all investing, which is that you want a piece of something that will be valuable in the future. If you put all your money into things that were certain to be worthless in the future, you'd end up with nothing. Food, energy, housing, healthcare - all things we're always going to need.

I have some sympathy with WoC's position but I am not hearing any actual proposals on what to do. The country's population has gone sharply up over a very short time, and landlords cannot provide the whole solution (which they do, by refurbishing existing space and / or using it more efficiently). UK industry does not have the capacity to add more dwellings at anything like the rate required. Smaller developers are hamstrung by plannings and obligations to do things like sell X cheap flats below cost for every Y flats they are allowed to build. This is why you see lots of houses converted into three or four flats these days, but you will probably never see again a deconsecrated church converted into 15 flats.

The state does not have the money or the housebuilding resources to enter the housebuilding market. Even if it did there would be outrage if it proceeded to build houses and sell them immediately at giveaway prices (in competition terms it would be probably be illegal). Many of those who hanker for more state housing want it let not sold, and the state anyway has a poor record in building houses where they are needed.

GreatApe

There is no housing shortage or problem in 80% of the country homes are not just affordable but cheap. In 15% they are affordable and in about 5% of the country they are only affordable by people who have a lot of wealth outside of earned income. That seems absolutely fine


If more housing is needed it is primarily needed in zones 2-3 London. However those areas are fully built up so the only way to build additional housing there is to buy 100 homes for £40m knock them down £2m and rebuild 250 homes giving half away for close to free to the council. The remaining half thus need to he sold for £850k each to cover the costs and give a 20% profit margin. £850k cost means they aren't going to lower existing house prices.

Windofchange

economic wrote: »

Who cares. By far most people don't complain like you and get on with life even though they can't afford to buy. You have serious issues if you think like you do.

Not complaining - just as ever presenting the other side to the argument. Interesting how so many of your counter points start with "who cares". I think actually many people do, obviously not you from all the previous input you have given, but many others. Carry on.