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Housing Double Whammy: A Whole Generation ‘Won’T Be Able To Buy Or Rent A Home’

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http://www.independent.co.uk/news/uk/home-news/housing-double-whammy-a-whole-generation-wont-be-able-to-buy-or-rent-a-home-8994229.html

A generation of Britons faces a housing “double whammy” as a growing number of people cannot afford to buy or rent a home, according to a report published today.

The study warns that house prices are set to rocket by 35 per cent by 2020 and that private sector rents are likely to soar by 39 per cent over the same period. It said that the “two broken housing markets” mean an extra 310 working people a day – one every five minutes – turn to the Government for housing benefit.

The average house price in England will rise from £245,879 this year to £331,387 by 2020, according to projections by the respected analysts Oxford Economics. In London, the £452,400 average will rocket to £647,500 – 18 times the average London wage, compared with 16 times now. At the other end of the spectrum, the £146,000 average price in the North-east will rise to £171,400.

The National Housing Federation, which commissioned the forecasts and represents housing associations, warned that the widening gap in demand for and supply of housing meant “an entire generation will be locked out of home ownership and forced to rent for life”.

Oxford Economics said the average annual private rent in England would jump from £8,691 this year to £12,059 by the end of the decade. Again there would be sharp regional variations. In London, the average rent would rise from £16,796 to £22,249 a year, while in the North-east it would increase from £5,771 to £7,234.

..

“The dysfunctional housing market is having severe financial consequences for the taxpayer,” the report said. “For a fraction of that wasted money, the Government could support areas of economic growth and build more affordable homes.” Although England needs 240,000 new homes a year, only 107,000 were built in the 2012-13 financial year, down 11 per cent on 2009.

David Orr, the federation’s chief executive, said: “We hear a lot about ‘making work pay’, but a decent job won’t even cover the cost of a home in England. Billions of pounds of taxpayers’ money is wasted, lining the pockets of private landlords, when it could be better spent building more homes people can afford. Relying on the private rented sector so heavily is a costly sticking plaster.

Homes that people can afford what type of socialist nonsense is this!!!! Clearly we need more expensive homes to generate more growth!

Burn the heretics!

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QE as the springboard into a hyperinflation is still a potential outcome if the Krugmanite wreckers overplay their hands. Perhaps they have already?

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It's not just one generation. It's all generations from here on in unless things change drastically.

That's two generations of bourgeois westerners who haven't faced the perils of war or complete economic collapse; who've sucked the state teat dry and proven how flawed our 'democracy' is by fabricating this ridiculously ageist and asset favouring, top heavy society.

Servants of the UK may think things are sailing along well with their 'castle' and paltry savings, but mark the words of many from history; the gentry and monarchs have all the money, own all the land, and will get it all back in their hands eventually. All of it.

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It's not just one generation. It's all generations from here on in unless things change drastically.

That's two generations of bourgeois westerners who haven't faced the perils of war or complete economic collapse; who've sucked the state teat dry and proven how flawed our 'democracy' is by fabricating this ridiculously ageist and asset favouring, top heavy society.

Servants of the UK may think things are sailing along well with their 'castle' and paltry savings, but mark the words of many from history; the gentry and monarchs have all the money, own all the land, and will get it all back in their hands eventually. All of it.

I think this will only change when the have-nots are the majority at the ballot box

The young are waking up http://rt.com/news/uk-student-protest-persecution-975/ you just don`t see it in the MSM the TPTB are worried ,they know the youth of today have nothing to loose

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I think this will only change when the have-nots are the majority at the ballot box

The young are waking up http://rt.com/news/uk-student-protest-persecution-975/ you just don`t see it in the MSM the TPTB are worried ,they know the youth of today have nothing to loose

Well, the last 'riots' in the UK saw (feckin' stupid) middle class kids out ram raiding electronics shops and smashing the odd bank foyer window.

Next riot(s) won't be so disciplined.

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The ballot box is irrelevant, Labour = HPI, Tories = HPI. Same policies re housing just a different coloured tie. The young comply and pay the rent and buy at the new prices with help from BOMAD. TPTB are not worried the youth of today will do nothing, why should TPTB worry what can the youth actually do ... except leave the country. The youth even knuckle down and pay the LibDems increased tuition fees, unless I missed the all out strike / boycott / demonstrations at all the universities with student bringing central London and the City to a stand still for weeks on end until the increases were rescinded.

Inflation won't stay confined to one sector forever. Tuition fees are a small example of that. Unless the banker handouts stop then we'll start to see commodity prices and consumer prices take off too. If that happens then the UK will come to resemble Greece - strikes/boycotts/demonstrations and all - before you can say knife.

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The ballot box is irrelevant, Labour = HPI, Tories = HPI...........

Perhaps it could be different going forward?

Labour win next election. Then finally REALLY screw up the economy, bond market tanks, rates rise, mortgages rise, massive rise in repossessions (to the extent the banks wont be allowed to just hoard ALL of the stock, and the amount they do auction off will significantly increase market supply), property prices fall, those who have saved and waited finally get rewarded.

Could it be that what should have happened by now will eventually happen?

One can at least dream.

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The ballot box is irrelevant, Labour = HPI, Tories = HPI. Same policies re housing just a different coloured tie. The young comply and pay the rent and buy at the new prices with help from BOMAD. TPTB are not worried the youth of today will do nothing, why should TPTB worry what can the youth actually do ... except leave the country. The youth even knuckle down and pay the LibDems increased tuition fees, unless I missed the all out strike / boycott / demonstrations at all the universities with student bringing central London and the City to a stand still for weeks on end until the increases were rescinded.

If the TPTB are not worried why is there never any coverage of these demonstrations in the MSM whether it be in the UK or the EU, what was the motives/thinking behind the harsh sentences handed out for stealing a bottle of water and other petty offences in the London riots

I know where you are coming from regarding lab/con =hpi but isn't this due to the demographics of the voters they are targeting at this moment in time

As for paying the libdems tuition fees how many had a choice ?it's either pay up or give it up team yellow did au turn and shat on them

,

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Well, the last 'riots' in the UK saw (feckin' stupid) middle class kids out ram raiding electronics shops and smashing the odd bank foyer window.

Next riot(s) won't be so disciplined.

I fear you may well be rigth

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Harsh sentences are to keep the plebs down, steal a bottle of water and get six months jail, MPs steal thousands and nothing happens. OK a few were jailed for a short time for fraud but the difference in sentences for the crimes was massive. There is no coverage of the demonstrations because it does not suit TPTB in the same way you don't see any JOY if house prices fall. Propaganda trumps facts every time.

TPTB care not a jot for the 99%, the only time they have done anything for them was after the war when you had hundreds of thousands of ex-military returning, many with guns and suddenly they built houses, created the NHS, jobs etc. Can't see that happening today as the young accept their fate and commit to a life in rented or if 'lucky' a life in mortgage debt.

Students could have had a mass protest but rolled over and paid up.

And you really expect 18-21 year old kids to know better? The boomer generation should be sticking up for them, not cheering this crap on!

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If they can't rent on their own then they can always flat share or if they can't afford even a room in an HMO then they could always share a room. This is what they did in Victorian England when Britain was great and the sooner we get back to this situation the better. I understand Slough is leading the way forward ... or is that backwards, guess it depends if you are the landlord or the tenant.

Yes the plebs will just have to work harder to live somewhere decent. Hence why the Tory slogan is for 'hard working families.' People are not working hard enough to keep the giant UK leveraged property/ponzi hedge fund on the rails.

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Yes the plebs will just have to work harder to live somewhere decent. Hence why the Tory slogan is for 'hard working families.' People are not working hard enough to keep the giant UK leveraged property/ponzi hedge fund on the rails.

Arbeit-macht-frei.jpg

Perhaps they could put a sign up like this up over new housing estates?

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Perhaps they could put a sign up like this up over new housing estates?

No need. The corporate fascism is hidden in plain site.

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Yawn. Dayshite were running with this crud yesterday, House prices are going up, but rents are going up MORE! Run panic, buy a house (where the f*uck are people going to get the money now, even if they are thick enough to buy the propaganda?) My rent recently dropped £50 per month, that means I must be very special :lol: DON`T BELIEVE THE HYPE!

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Yawn. Dayshite were running with this crud yesterday, House prices are going up, but rents are going up MORE! Run panic, buy a house (where the f*uck are people going to get the money now, even if they are thick enough to buy the propaganda?) My rent recently dropped £50 per month, that means I must be very special :lol: DON`T BELIEVE THE HYPE!

Yep, I agree. Thats what I see at the moment (plus getting it in the ear from parents all time about 'you got to get on the housing ladder quick!')! Real panic in the air! Its feels just like 2006/07 again, apart from, of course, that there are no IO mortgages available now.

As far as rents are concerned, there seems to be no economic reasoning to why rents will go up! Yes there is scarcity in some areas but rents have more to do with what people can afford, i.e. an area gets too expensive so they move away to a cheaper area. The general perception in all these news articles seems to be, oh house prices are up so LL's will be charging more rent. Not if people can't afford it they won't!

(Hooray, I can edit my posts now, I have a edit button! Must appear when you get to 100 posts! :))

Edited by Matthew C

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Don't think that the people who lived in their homes that made them money from nothing and those with very generous pensions do not think of the next generation......most good parents will vote for their kids and their future and well being.......blood is thicker than free equity........most home owners that have paid or almost paid for their homes do not want further house price increases......only the lenders and the property investors want that. ;)

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Don't think that the people who lived in their homes that made them money from nothing and those with very generous pensions do not think of the next generation......most good parents will vote for their kids and their future and well being.......blood is thicker than free equity........most home owners that have paid or almost paid for their homes do not want further house price increases......only the lenders and the property investors want that. ;)

Not so sure most people can untangle all that information and see what is going on? This website shines a very clear light on the madness of the Ponzi, MSM does not, and that is where most get their information. Even those that have MEW`ed want one big final pay off when they eventually downsize, they will still want some greater fool to come along, even if they realise they don`t want their own kids to be like that greater fool. Don`t know who you think people can vote for to solve this? It will be outside events forcing rates up that wrenches HPI fantasy from the minds of UK sheeple.

Edited by dances with sheeple

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People can easily afford property ,that is why the prices are rising ... all they need is some help. Young people are happy to accept high housing costs so they will be milked and most of them will be overjoyed to get a 5X joint salary mortgage and be in debt for life to give money ie all their future earnings to their elders and betters.

If they can't rent on their own then they can always flat share or if they can't afford even a room in an HMO then they could always share a room. This is what they did in Victorian England when Britain was great and the sooner we get back to this situation the better. I understand Slough is leading the way forward ... or is that backwards, guess it depends if you are the landlord or the tenant.

My wife got into a heated discussion with a 24 year old estate agent last Saturday down the pub.

The estate agent claimed that people actually want to pay more for their houses. Why? Because "that's the way it's always been" and if we didn't like high house prices we could always move to a shithole.

It's a shame the government are backing up these idiots.

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Homes that people can afford what type of socialist nonsense is this!!!!

Many a true word...

It's a real problem for the Tories- build social housing and create a new crop of labor voters- or watch the housing benefit bill spiral out of control.

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