Brexit is good for housing, it will bring about the correction sooner

Zero_Sum

A_to_B wrote: »

Brexit I want for other reasons, however if it helps to bring house prices down, that's a bonus.
What I wonder recently is that when I drive I see so many new houses been built (whole housing estates), but not many houses knoked down. How come we have this chronic housing shortage in this country then? Population surely isn't growing that fast.

Do we actually have a chronic housing shortage?
Nationally i'd say no. There is a localised London problem which is being made out to be a national one. And theres also a shortage of social housing which has been replaced by more expensive private landlords which is penalising the less well off.

lisyloo

A_to_B wrote: »

Brexit I want for other reasons, however if it helps to bring house prices down, that's a bonus.
What I wonder recently is that when I drive I see so many new houses been built (whole housing estates), but not many houses knoked down. How come we have this chronic housing shortage in this country then? Population surely isn't growing that fast.

Net immigration is 1/3 million per year plus around the same in population growth (source ONS).

More people now have 2nd homes now. We have 2 but only because we have to for work, so there are places left empty for most of the year.

phillw

westernpromise wrote: »

Someone who factors staying with parents for free into their renting / buying decision isn't actually doing the calculation properly. They're comparing owning the house to renting the house to using part of a different house someone else lives in for an indefinite time. If the latter's somehow equivalent to the first two, then it must be the MSE solution, because it's free. Don't buy, don't rent - live in a room in the parents' house.

Factoring in staying with parents is perfectly valid, but for many people there is only a small window where it's viable & you don't want to be forced to buy at the height of the market. You may also lose out on earning potential if you can't move.

Men will be seriously disadvantaged in terms of dating & marriage as well.

westernpromise

phillw wrote: »

Factoring in staying with parents is perfectly valid, but for many people there is only a small window where it's viable & you don't want to be forced to buy at the height of the market. You may also lose out on earning potential if you can't move.

Men will be seriously disadvantaged in terms of dating & marriage as well.

I see what you're saying, but the staying-with-the-parents angle is really just a way to offload some of the cost of one's decision onto someone else. If the decision to buy now, later or never hinges on the living for nothing with the folks for a while it must be very finely balanced.

Thrugelmir

lisyloo wrote: »

Net immigration is 1/3 million per year plus around the same in population growth (source ONS).

Building continues at pace around here. Infilling, greenbelt, office conversion, house conversion into flats ot bedsits. Immigrants need to live somewhere affordable. Where there's plenty of menial work to pay the bills.

Though already the signs of the Honda closure are hitting the rural areas. As jobs are already going. Higher priced property is sticking. Good average family residential property is being bought up by "London" investors. As offers a good yield. Though out of reach of the average worker as far too expensive.

AG47

A_to_B wrote: »

Brexit I want for other reasons, however if it helps to bring house prices down, that's a bonus.
What I wonder recently is that when I drive I see so many new houses been built (whole housing estates), but not many houses knoked down. How come we have this chronic housing shortage in this country then? Population surely isn't growing that fast.

Exactly there is a property building bubble going on, just at a time when credit will dry up due to Deutsche bank Collapse just as brexit debacle keeps extending the uncertainty

Soon they will be offering buy two flats get one free, but still there will be tons of empty properties with the property companies in trouble having to pay empty property higher council taxes

phillw

AG47 wrote: »

Soon they will be offering buy two flats get one free,

Unlikely, but you might start seeing buy ten get one free. Which is great for people who could afford ten.

triathlon

AG47 wrote: »

I’m pleased you agree the is going to be a correction in the future, there are many here who don’t agree with us on this.

Thankfully many are coming over to the hpc side but haven’t yet come out about it:A:rotfl::rotfl::A

I would say there is a 20% chance in a property crash at best with probably only less than 10% of people believing one will happen, even 70% of HPC.com have now given up on one happening, the majority of them are now counting on HOPE

triathlon

chucknorris wrote: »

Astrology! The moon is in Jupiter this month, obviously a sign that the housing market will crash.

I am actually considering putting rents up this year

lisyloo

triathlon wrote: »

I am actually considering putting rents up this year

Well if your my landlord then you’ll have to fix the broken sofa or I’m leaving.
Not so keen now?