The Masked Tulip Posted June 24, 2011 Share Posted June 24, 2011 Bernanke Doesn’t Get It: Housing Crash Crushed the Economy http://blogs.forbes.com/prospernow/2011/06/24/bernanke-doesnt-get-it-housing-crash-crushed-the-economy/ This could well be larger than the prior three issues. It is certainly as long lasting. As aging Americans turn 65 at the rate of 10,000 per day, and endure the current economic difficulties, they begin downsizing their housing. With children gone, there is no longer the need for extra bedrooms, extra family rooms and large yards. These all cost money in maintenance, taxes, heating/cooling, and are remnants of bygone needs. I had an EA in Swansea today trying to convince me that a 4 bedroom house has better resale value than a 3 bed. I pointed out that I have no kids, that millions of people have no kids and this is changing the demographics of the UK. I told him that in years to come the bigger houses will have trouble selling because of a lack of bigger families plus higher running costs. He looked stunned. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 25, 2011 Share Posted June 25, 2011 Bernanke Doesn't Get It: Housing Crash Crushed the Economy http://blogs.forbes....ed-the-economy/ I had an EA in Swansea today trying to convince me that a 4 bedroom house has better resale value than a 3 bed. I pointed out that I have no kids, that millions of people have no kids and this is changing the demographics of the UK. I told him that in years to come the bigger houses will have trouble selling because of a lack of bigger families plus higher running costs. He looked stunned. I'd say it was stunning because in many Asian area's houses are getting extended like mad to produce the extra bedrooms. I guess there are not so many Asian living in your part of the world. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 25, 2011 Share Posted June 25, 2011 I'd say it was stunning because in many Asian area's houses are getting extended like mad to produce the extra bedrooms. I guess there are not so many Asian living in your part of the world. As the ethnic make-up of the UK chnages this will be true. Same is happening in many parts of the US where mass immigration from S America and Asia is making huge houses popular. I saw it happening during the boom years where it seemed incredible that "poor" immigrants could buy $600k houses. Then you saw 6 or 7 cars, many small vans advertising a donut shop for example, parked on the drive and front lawn. Multiple occupancy. We need to get used to the idea that successive generations of politicians have finally pulled off their dream: multi-cultural, divided (diverse) and lacking consensus Britain. The ideal type of population that can be manipulated (milked) to keep the lifestyles of the banksters and their servants (MPs) in levels of luxury unimaginable a few years ago. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 25, 2011 Share Posted June 25, 2011 Bernanke Doesn’t Get It: Housing Crash Crushed the Economy http://blogs.forbes.com/prospernow/2011/06/24/bernanke-doesnt-get-it-housing-crash-crushed-the-economy/ I had an EA in Swansea today trying to convince me that a 4 bedroom house has better resale value than a 3 bed. I pointed out that I have no kids, that millions of people have no kids and this is changing the demographics of the UK. I told him that in years to come the bigger houses will have trouble selling because of a lack of bigger families plus higher running costs. He looked stunned. Bernanke can't admit housing crashed the economy because he repeatedly stated it wasn't a threat. Large houses need to be compartmentalized to reduce costs of running them, if I get the chance I'm planning on ripping up the floorboards upstairs and putting insulation in all the joists so heat isn't lost so easily from the living room into the bedrooms. If they managed to produce genuinely efficient solar PV and small wind turbines for houses this is going to significantly reduce running costs, large houses may actually be able to produce electricity for industry to use during the day. There are many variables the outcome that big properties will have trouble selling is dubious, although if current trends continue that outcome is possible. Quote Link to comment Share on other sites More sharing options...
Fairies Wear Boots Posted June 25, 2011 Share Posted June 25, 2011 Bernanke Doesn’t Get It: Housing Crash Crushed the Economy http://blogs.forbes.com/prospernow/2011/06/24/bernanke-doesnt-get-it-housing-crash-crushed-the-economy/ I had an EA in Swansea today trying to convince me that a 4 bedroom house has better resale value than a 3 bed. I pointed out that I have no kids, that millions of people have no kids and this is changing the demographics of the UK. I told him that in years to come the bigger houses will have trouble selling because of a lack of bigger families plus higher running costs. He looked stunned. Sorry, But aren't there a group of people called "developers" that take a decent four bed house, chop it into two flats and then try and sell them both separately for as near as they can to the price of the house in the first place? And don't house building companies, because of the cost of land, try and squeeze as many small units as they can onto a site? 4 bed houses round here are like hens teeth. Quote Link to comment Share on other sites More sharing options...
tim123 Posted June 25, 2011 Share Posted June 25, 2011 Bernanke Doesn’t Get It: Housing Crash Crushed the Economy http://blogs.forbes.com/prospernow/2011/06/24/bernanke-doesnt-get-it-housing-crash-crushed-the-economy/ I had an EA in Swansea today trying to convince me that a 4 bedroom house has better resale value than a 3 bed. I pointed out that I have no kids, that millions of people have no kids and this is changing the demographics of the UK. I told him that in years to come the bigger houses will have trouble selling because of a lack of bigger families plus higher running costs. He looked stunned. I think, provided it's a real 4 bedded and not a three bedder that's been rearranged to give four tiny bedrooms, that he's right. I don't have any kids and would never need one, but many people do aspire to them and they do keep their value better tim Quote Link to comment Share on other sites More sharing options...
clockslinger Posted June 25, 2011 Share Posted June 25, 2011 But we are alright in the south east of England then, 'cause prices haven't crashed here. Phew, thought my job was on the line for a few months there. Glad it's alright now, though! Well done Mervyn and Spotty. I take it all back. Quote Link to comment Share on other sites More sharing options...
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