Can you imagine the destruction in the UK if the property market crashed

phillw

AG47 wrote: »

This is the main point, that it doesn’t matter how many people want to live in a certain property, all that matters is who can raise the funds.

And the people who can raise the funds can be anywhere on the planet and not be negatively affected by brexit, like the majority of the uk population is guaranteed to be. International investment is likely to increase to prop up the property market.

andrewf75

norsefox wrote: »

Japan doesn’t include the Scottish Highlands and the Outer Hebrides.

Japan’s population density is 336 people per sq km. South East England’s is 395.

Good luck repeating that in Ross-shire.

You couldn't be more wrong! Japan includes *a lot more* uninhabitable mountain areas than the UK does. Japans much higher population is squeezed *much* more densely into cities.

AG47

andrewf75 wrote: »

You couldn't be more wrong! Japan includes *a lot more* uninhabitable mountain areas than the UK does. Japans much higher population is squeezed *much* more densely into cities.

I couldn’t be more right then in that case.

I’m saying that the uk and Japan have about the same amount of land, and the uk has half the population

If your saying that Japan has more uninhabitable mountains range than the uk, ok yes I didn’t think of that, thanks you are making my case even stronger:T:T

AG47

phillw wrote: »

And the people who can raise the funds can be anywhere on the planet and not be negatively affected by brexit, like the majority of the uk population is guaranteed to be. International investment is likely to increase to prop up the property market.

On the other hand, with the global slowdown and looming banking crisis, international investors are pulling out of the uk in droves while prices are till relatively high compared with how far they could fall before the investors sell up nd get out of the doomed uk property market.

letitbe90

PhilE wrote: »

House prices in the UK would probably be the last thing to go, due to supply and demand. It would need a population crash for a house price crash.

Otherwise, the economy would need to crash immensely to affect house prices. The sort of crash where people would be struggling to eat.

A population crash isn't the only way to reduce house prices. A wage crash would do it (be it by unemployment or simply decreasing wages). People always forget that affordability is a huge factor to house prices.

AG47

letitbe90 wrote: »

A population crash isn't the only way to reduce house prices. A wage crash would do it (be it by unemployment or simply decreasing wages). People always forget that affordability is a huge factor to house prices.

More likely credit drying up, if the banks stop lending, or just reduce then property prices plummet

lisyloo

letitbe90 wrote: »

A population crash isn't the only way to reduce house prices. A wage crash would do it (be it by unemployment or simply decreasing wages). People always forget that affordability is a huge factor to house prices.

Latest employment figures show employment at its highest since 1971 and were 3 years into brexit uncertainty.

You’ll have to do better.

James_Green_1982

lisyloo wrote: »

There’s a lack of affordable housing in places that people want/need to live.
Plenty of building of luxury apartments going on in central London but at absolute min of £400k for a tiny studio they are not affordable for ordinary families, bearing in mind the increase in population.

I don’t think this is lack of land because even in central London there is room for plenty of building of luxury apartments and offices. It’s a lack of political will to provide for the lower end and unfortunately letting the market sort it means we have people on the streets and people in camper vans/tents or sofa surfing.

I think a lot of the London market is due to international politics etc.
Wealthy people in China (for example) want to buy in London as a way of getting their money out of their own country. There are plenty of empty apartments in China - but the Chinese (as a group) aren't so keen to buy them.

Herzlos

lisyloo wrote: »

I don’t have half a decade of life left (hope not).
Most young ladies will want to start a family before 35 (important age fertility wise) so don’t expect the ladies to want to wait around for very long at all.

You don't need to own a house to have kids though. You don't even need to have a dedicated room for them (though you may want to split boys/girls before they become teens). People will make do based on market conditions. We're 4 people in a 2-bed, my kids can share until we feel it's time to jump, but we've extended in the mean time and could easily turn this into a 4-bed with a bit more work. Will we ever need to sell? Nah. Will we want to? Sure, if the price is right.

James_Green_1982 wrote: »

There are housing estates in Scotland that have been demolished and turfed over - due to lack of demand for housing.

Which is why UK wide policies on things like housing and immigration don't make any sense, because of the heavy SE bias.

lisyloo

Herzlos wrote: »

You don't need to own a house to have kids though. You don't even need to have a dedicated room for them (though you may want to split boys/girls before they become teens). People will make do based on market conditions. We're 4 people in a 2-bed, my kids can share until we feel it's time to jump, but we've extended in the mean time and could easily turn this into a 4-bed with a bit more work. Will we ever need to sell? Nah. Will we want to? Sure, if the price is right.

Which is why UK wide policies on things like housing and immigration don't make any sense, because of the heavy SE bias.

Unfortunately renters don’t have security if tenure i.e. the landlord can give notice when the landlord chooses.
This might not make too much difference when you have babies but when they start school and even nursery then most people aren’t going to want to be moving schools let alone moving house.

You’ve made compromises on space but you are secure in location which is what most people want.

So I agree you can have kids in rented but most people will aspire to own their own home and paint their own bedrooms for their kids and stay in the same place where they can build connections with friends/school not to mention links with jobs and grandparents (who might be offering free childcare).

It’s called nesting.