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Boom'n'Bust

Sky-high House Prices Could Close Schools

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This actually happened out in San Jose and surroudning areas over the past 5 - 10 years. Basically, with nearby Silicon Valley property prices got so big that the only people who could afford to buy were people making huge salaries/share options from the tech industry.

Teachers, nurses, social workers, public sector workers could not afford to live there and schools, libraries, community centres, etc, had to close down due to lack of staff. Then, the dot.con crash occured.

After the crash, because the schools, community centres, libraries, etc, were dependent upon revenue from local taxes many thousands of public sector workers who still had jobs lost them. So they had the double whammy of house prices continuing to be unafforable but no jobs - the out of work tech workers mortgaged to the hilt refused to lower prices and, bizarrely, in the dot.con crash HPs in the Bay area rose even higher.

Personally, from personal experience here in Wales, I think the rural commuity pretty much deserves what it gets. For years planning for new houses has basically kept any 'outsiders' out - although any local farmer can sell off a bit of land with ease and get planning permission - and locals seem to want all the benefits from the wider nation but without having any of the wider nation anywhere near them. Basically, they want you to turn up in daylight hours, buy their eggs and veg... and then bugger off back to the cities.

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Prices in Lancaster are nowhere near adding up; it's crazy.

"I live in Lancaster, get me out of here" ITV1 8.00pm

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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