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kjw

Hold The Front Page. Osborne Tells The Truth About House Prices!

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His own truth. That HPI has prevented malinvestment correction. Empty property sit off the market, owners convinced it's just more hpi ahead. Owners of land plots not willing to sell them unless, as in the US, mad offers made. Only big developers get a seat at the table for policy. You've even been getting hopeful buyers writing love-letters to the owners. Family homes 'worth' £1.5m+ being rattled about it by old widows, and their plight keeping it warm; just getting by (with excuses you hear on here that it costs too much to downsize so not worth it).

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The author makes no sense whatsoever. Immigrants are drawn to London because it offers them employment. Osborne's trillion pound orgy of cheap credit is what's provided the jobs and held up house prices.

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He does have a point that we could build quality homes (wouldn't be difficult) in an area where people want to live (more tricky). He refers to plonking 200,000 desirable Victorian type properties somewhere and they would sell....however, we are still building the slums of the future 1960s style and putting a premium on old stock.

You could build something decent in a northern city and it would sell or you can build tower blocks to add to the already half empty stock of this type

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The problem is laughably simple to solve - abolish (most of) the planning laws, return some semblance of normalcy to the loans market rather than the BoE manipulated mess that we have, and sit back. In short, to stop the government from "helping".

It'd probably be best to do the latter first, so the mania can end before the terrifying winds of the free market blow through the NIMBY's back yard.

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