House prices

GreatApe

lisyloo wrote: »

It's pretty obvious that housing is a finite resource and it's going to go to those who put themselves out the most OR have the most outside help. What I wouldn't agree with is that this is a level playing field. If you don't have parents will to house you then you can't stay at home and that's that.

True but its always been true that those who have help from their parents have more options and can do better than those who do not have that help

GreatApe

Housing in the UK is a non issue (I say this after having spent maybe 8 years convinced there was a shortage of homes). My confusion was to link prices with shortages which is wrong for housing.

We need to make a clear distinction between a housing shortage (which we do not have) and house prices (which are expensive in some areas). Houses can be expensive yet there be no shortage of homes. Likewise houes can be cheap (like in many developing countries, or say the uk 50 years ago) yet there be an acute shortage.

westernpromise

lisyloo wrote: »

Well I'll have a go at the last one.
It's a bit more complicated than just a straight %.
Estate agents benefit from lots of sales.
The market is currently stalling with very low transaction levels, this is in part due to rising prices but also other factors like stamp duty and uncertainty over brexit.
Estate agents would prefer to have a smaller amount on a larger number of sales than a larger amount on a tiny number of sales.
So I'm prepared to conclude that estate agents don't benefit from rising prices if those prices are so high that very few can actually make a sale.

Correct. An estate would rather sell 2 houses for £100k than one house for £120k. Consequently, if they have two houses on their books at £120k, they will lean on the sellers to lower the price.

chucknorris

economic wrote: »

what drove you to become financially independent?

Mainly graduating in the middle of the late 80's/early 90's recession and as a graduate quantity surveyor seeing very experienced chartered surveyors being made redundant. I didn't want to end up like them, where they relied on others for their well being.

chucknorris

Batman2017 wrote: »

Full respect to you for your work ethic and achievement. I'm sure you did this for the good of your family but it sounds bloody awful. Surely your children and you would of preferred to have spent more family time together than have lots of money?

I didn't do it before I had a family, my philosophy was to work hard and earn first, then have a family.

CBaker

Speaking from an American viewpoint, I can remember a time when owning a house was a reward for having a job. Today in large parts of the US, a house has joined private airplanes and yachts as the prerogative of the very rich.