nickb1

40+ years of uninterrupted neoliberal economic and social policies, totally corrupt corporate media and political class? Oh @zugzwang beat me to it...

the few people who were buying them, yes, or they had credit ...

get with the agenda, it's all part of the "hostile environment" innit? We have to make the UK such a sh*thole nobody in their right mind wants to come in.

I thought the volume of trades was low, so nobody is "buying them all". But also consider ... if you are trading up and your existing studio flat has ballooned in price ... Or if you are an BTL 'investor' with accumulated wealth leached off the properly working population for decades ... Back in 17th century Netherlands somebody was buying "all those tulips" at inflated prices, until they weren't.

you will never "meet the demand" of a speculative bubble. Think of a new home as primarily a vehicle for banks to secure an additional mortgage. Could explain a lot. e.g. shoddy building standards, shoddy building regs, demise of town planning so no accompanying infrastructure expansion, no concern about ballooning prices etc. etc.

noboy is saying "millennials" are in that position though. Anecdotals, my parents had bought their first house in their mid 20s and already had 2 kids, 2 cars, foreign holidays most years, permanent jobs, paying into final salary pension schemes. Good quality health and dental care from the public sector. not many people in that kind of position now in their mid 20s. unthinkable in fact when HPs are 8-10 times median income (mid 20s will earn less) etc.

Millennials schmillennials 😉 the more people will benefit the more sensitive prices are to interest rate rises. is this a known factor? If price were the capitalised value of the rental income, as in the simplest economic theory of property prices, then you could work it out, but that ignores the speculative element.

Because you have to borrow less. In some cases, nothing. If prices fell by 50% tomorrow I could cash buy, for example. Interest rates could be 100%, 1000%, whatever.

Something odd for sure. If listings are low and falling sales can't be far behind.

since both major political parties have effectively collaborated on these things, plus NHS privatisation, I think there is something in the view that they have taken place outside of democratic control. Corbyn might have made a difference but was not allowed to by MSM and TPTB. Now we have the ridiculous spectacle of Starmer and Mandie blaming their latest electoral debacle on Corbyn, under whom Hartlepool was retained twice and under whom there was stronger performance by labour in council elections.

perhaps not if you have already bought, but this site is full of people who have been hoping for a crash, in order to buy, who would then win big. I've given up on this as too much time has ticked by, but would now only borrow a small amount such that I can afford interest rates hikes. Of course this (a crash) could then effectively see much perhaps most of my savings wiped out. But I won't be paying 12k p/a rent for the rest of my life.

debt slavery for those with mortgages, till they clear, indefinitely long rent slavery for the rest.

Well my family are mostly here and I had enough of being a migrant after living abroad for several years. If I didn't have family here it could be a different story. Plenty of stuff going wrong abroad too though, incidentally.

I suppose Keir Starmer will say nothing for fear of being portrayed as anti Brexit.

Perhaps a possible solution is to buy your rental. We are in discussions with our landlord who is also no fan of EAs.