Monday, Aug 13, 2007
House prices arehardly going to crash if this is happening.
Mail: More than 8,000 Eastern Europeans arrive in Britain every day
More than 8,350 Eastern Europeans are arriving in Britain every day, official figures reveal.
In the past year alone, an astonishing 3,050,000 people poured into the country from the former Eastern Bloc - an increase of 25 per cent in only 12 months.
Posted by david20040_0 @ 05:46 PM (343 views) Add Comment
22 Comments
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1. david20040_0 said...
How can house prices crash if 8000 people are entering a day?
2. dohousescrashinthewoods said...
Beause the NF are busy printing papers while the employees are living 8000 to a shed and manning their presses..
Credibility of article, approximately zero?
3. japanese uncle said...
They are the strong candidates of jobless members of the public, once the recession hits this market. Even now some of them are sleeping in the public lavatories in London, how can they afford properties with average price in excess of 200K. Idiotically ridiculous!
4. david20040_0 said...
It is quite simple 'Japanese Uncle' more people, more money, more pressure on rented accomodation.
All of this will push up prices. Supply and demand, we are not building enough houses to cope with even one fifth of this.
5. inbreda said...
Sorry David... more people more money?
Explain why that is so simple.
Surely with more competition for jobs it equals less money???
6. david20040_0 said...
OK, people come over from Poland or another new EU state, all of them will get a job, even if it is a minimum wage job, more people more competition for housing.
More workers from Poland etc more money being earnt, more money to invest in rented accomodation.
The average Pole won't be able to buy so there will be more people competing for rented accomodation therefore pushing rents up.
7. planning4acrash said...
Who the hell buy's properties or manages to actually pay for expensive flats on minimum wage? This is just the right wing press (Mail says it all) hoping to sensationalise and blame imigrants on deflation. Remember that the Nazi's blamed Jews for hyperinflation in the 1930's. Just because the Mail isn't calling for a Holocaust of Poles (yet) doesn't mean that their tactics are any better in terms of morality. Just as you have an Autistic spectrum, you have a racism spectrum, and the Mail is often on it. This is a cheap type of racism that seems harmless but could blow up into true fascism in the face of actual financial melt down. This type of story works because it plays on the prejudices of and inflates the ego of insecure Joe Blogg's and Sixpack. Its the lowest form of politics, and trust you 'David', to take it on face value.
8. Yellerkat said...
Did you read the article? The vast majority of the "8,350" are tourists.
9. Ihopeitgoeswithabang said...
David,
All of them will get a job? So your saying that there are over 2 + million jobs that are available or going to be created in the next 12 months?
In addition to any that the current population needs?
A very bold statement.
Most are coming with no money to speak of. Minimum wages do not in any way support the current housing costs to buy. Infact they dont even support the costs to rent to any real extent and thats at the current level of rental income for any prospective landlords.
Of course it will slow any drop in house pricing to a degree, it is a factor. But it will not stop it. There is still plenty of property to rent in my most areas and plenty to buy if they have the money!
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12. Wojtek said...
4,000 PEOPLE A WEEK TRYING TO LEAVE UK
http://www.express.co.uk/posts/view/15642/4,000-people-a-week-trying-to-leave-UK
:D
13. Mark said...
please meet , Mr bulgaria, he earns £2.50 an hour, he is now going to borrow 800k for a house, he has no deposit, whilst he is at it, he is buying a porsche... thats about as much sense as any article makes saying people coming into UK cause house shortages, if thats the case why are they living in the streets??
14. Vicmac64 said...
Our country is well and truly finished - our leaders deliberately thumb their noses at the electorate whilst commiting treason. The only direction the UK is heading in is the road to slavery.
15. deepak said...
David,
I you see the news you know that all these people live is a squaller. They can't buy these properties. I saw the other day one of these guys working for a pizza corner made £5 in 3-4 months of work. I don't think he will fight with you for that house and make it go up .
Or am I missing a trick.
16. Tickock said...
Remember that the Nazi's blamed Jews for hyperinflation in the 1930's
Come on planning,believe me, I understand your point, but you can't equate the Mails concern over immigration to the Nazi treatment of Jews in the 30's.
I understand why you may feel compelled to do it, but fear that such comparisons may have completely the opposite effect to that which I'm sure is intended.
17. daft boy said...
don't be a halfwit David. The government have no idea how many people are coming and going through our borders.
18. Agentimmo said...
If these "poor" immigrants were coming into the country in the numbers suggested, they wouldn't be buying houses, but renting. Rents would be going though the roof. But they are not. Daily Mail scare story.........
19. captain sensible said...
We're told by the same papers that Poles and others have been 'flooding' in for the past couple of years yet rents HAVEN'T risen dramatically. Given that they are coming here because even the minimum wage is generous compared with what's available in their home countries I can't see many of them buying and contributing to house price inflation. The idea of a property shortage is a myth cooked up by those with a vested interest in keeping the bubble inflated. I live in the SE (a supposed hotspot) yet properties are sticking on the market for ages. This isn't what we would see if there was a genuine shortage. It's just a stand-off at the moment - sellers have it fixed in their minds that their property is worth half a million or whatever the agent most desperate to get the instruction has told them. They then find it difficult to budge from that (or drop the price by some pathetically small amount) , so nothing moves. In the meantime, the few properties that do sell provide the headline figures of prices rising by £X pm, but don't reflect the reality.
20. Freewheelin' Franklin said...
if there's a recession they'll be leaving the uk even faster - anyway the mail loves immigration scare stories - panders to the racism of some of its readers
21. European-bear said...
The UK economy is only growing at best a small percentage point above trend (maybe about 2.5% PA). This means that the country's wealth is increasing at this rate. Now with no immigrants the resident population will share in all this growth. But with immigrants, that will be shared out a little more thinly. But the bottom line is that the extra wealth to buy assets does not mushroom because of 8000 immigrants a day. The money is not there to buy the houses. The long term sustainable grwoth rate of an essential commodity where demand excedes supply (i.e. housing) will be inflation + GDP growth. i.e. 2.1% (CPI if you believe it) + 2.5% GDP = 4.6%. And if you check long term growth of housing over several decades this holds very close to this formula. Any booms or crashes within this are entirely due to easy credit (=boom) and tight credit (=bust) and sentiment.....If there was a new paradigm (or hosue prices permently reaching a new level) then rents would also be rising. They are not........It is possible that the new wave of immigrants may have shifted trend of GDP growth up by a small amount (maybe 0.5% at most), and that would add this amount to trend growth for housing...not the rediculous sums being asked. House prices are opinion, sentiment and loose credit...nothing more!
22. Hard Cheese said...
Personally, I know from speaking to some of these people who clean our office that many are now considering in bringing more family over here, as life here is easier than they originally thought.
What many are after is a home/base here in England, which is supplied by our friendly HM UK govenment, and for them to be able save enough whilst working and not paying any UK tax, send them money home and to purchase out right.
In principal, they well have two properties, one in the UK supplied by the state, this would be used by various friends and family to come and go as they please, and another back in the home country.