Rents are like to spiral going on this.

triathlon

For those deluded individuals who think there will soon be a glut of cheap empty properties where you can fill your boots I suggest you read this:)

https://www.bbc.co.uk/news/education-49412835

A shortage of family homes is worsening with things unlikely to improve in the medium term, the money just isn't there, and with talk of HS2 being cancelled today because of a lack of money it is not looking good for cheap social housing.
Reading some of the desperate posts on HPC.com recently, those guys are just about finished financially and in spirit, what a waste of two decades,

Zero_Sum

What will happen with HS2 is that theyll complete the London to Birmingham bit, then say they cant afford the rest.

Its policies like these that are causing the said housing problem as its 90% a SE problem.

Theres tons of affordable family homes up north.

BikingBud

Chop HS2 but build the Northern HS3 that will link Newcastle/Leeds/Manchester and Liverpool and cut the time between Leeds and Manchester in half. A tangible benefit that will kickstart investment where it's really needed and removes the pressure on the over stretched and over funded SE.

triathlon

Zero_Sum wrote: »

What will happen with HS2 is that theyll complete the London to Birmingham bit, then say they cant afford the rest.

Its policies like these that are causing the said housing problem as its 90% a SE problem.

Theres tons of affordable family homes up north.

I agree, but as long as the government/s keep making policies like this the stronger the rental market become, just simple maths.

sal_III

The lack of social housing is not due to lack of money, it's due to lack of policy/political will.

The cost of labour and material for a 2-3 bed property is between £50-100k. If they are build on public land, there is no additional direct cost.

Instead they forced to sell the land to private developers for pennies and then buy off "affordable" housing from the developers at many times the cost. Because of Government imposed restrictions on how much they can borrow to build new homes.

silverwhistle

triathlon wrote: »

For those deluded individuals who think there will soon be a glut of cheap empty properties where you can fill your boots I suggest you read this:)

Can I ask why you are smiling?


Are you one of a number of landlords on here who seem to display a complete lack of empathy and haven't really understood that taking ever increasing percentages of peoples wages (or taxpayers money) is an untenable situation for the economy and society?

triathlon

silverwhistle wrote: »

Can I ask why you are smiling?


Are you one of a number of landlords on here who seem to display a complete lack of empathy and haven't really understood that taking ever increasing percentages of peoples wages (or taxpayers money) is an untenable situation for the economy and society?

OK, I will answer your question if you answer mine.
Is it OK to wish me and millions like me and my family financial hardship after decades of hard graft

BikingBud

triathlon wrote: »

OK, I will answer your question if you answer mine.
Is it OK to wish me and millions like me and my family financial hardship after decades of hard graft

Hard graft? You've just been lucky.

Thrugelmir

Seems as if the UK's deluded obsesssion with property rolls on and on..........

Lets's hope Javid doesn't spring an unwanted surprise in the next budget.

Malthusian

Thrugelmir wrote: »

Seems as if the UK's deluded obsesssion with property rolls on and on..........

Truncated list of major life events from the Holmes-Rahe scale: graduation, loss of virginity, career change, marriage, having kids, buying your own home, going to prison, life-changing illness or injury, divorce, retirement, death.

All of those potential major life events are obsessed over. That is they are constantly the focus of newspaper coverage, books, films, TV dramas, all kinds of media fictional and non-fictional. Which is normal because people think about the possibility of all of those events, a lot. Whether they are happening right now, likely to happen in the future, or just something to be feared / hoped for.

Thinking about major life events is a good strategy because if done rationally, it helps you deal with them if or when they ever arise.

Why would buying your own property be arbitrarily excluded?

People who think there is an unhealthy "obsession" with property do so for the same reason that people claim society is "obsessed" about sex or having babies. Typically they feel unable to participate in this major life event, and therefore resent it when other people talk about it.

There is a taboo about cutting into a conversation about babies by saying "Everyone shut up and change the subject, I'm single and don't want anyone to talk about babies". Quite correctly this is considered rude, self-obsessed and pathetic. There is however no taboo about going home and penning an article entitled "Why oh why is everyone obsessed with babies" for the Grauniad. For "babies" substitute "property" and for "single" substitute "skint".

The only places people aren't obsessed with property are poorer and less free ones where the possibility of owning your own home is too remote.

Thrugelmir

Property is very much a UK trait. No interest in real wealth generating assets.