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eric pebble

Housing Catastrophe In Oxford: Bbc News Item

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Well............... :rolleyes: :rolleyes: 15/20 years too late, the mainstream media is FINALLY waking up............... FAR TOO LATE.

& of course - as we all know -- this is just the tip of the tip of the iceberg..... ;) :wacko:

Britain is facing a housing crisis because of a serious shortage of new homes.

Surprisingly, the least affordable place to live in the UK is not London but Oxford where property prices are 16 times the average earnings of people living in the city.

Oxford council says they are facing a "catastrophe" because workers increasingly can not afford to live there.

http://www.bbc.co.uk/news/uk-34573656

Edited by eric pebble

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Before daughter and her then boyfriend bought their ex LA in Oxford nearly 4 years ago, I urged them to rent and wait a bit - prices were surely bound to come down soon.

The house they bought for £210K - with all white goods and some furniture thrown in because they had nothing - sold back in the summer for £285K - to another FTB.

They had made it a lot nicer but can't have spent more than £10K.

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Let it run its course: When the hospitals, schools, services and Uni have to reduce their capacity because people can’t afford to live there anymore the city will get bad press and its house prices will start to fall, that’s how it’s supposed to work. Those people that can’t afford to live in Oxford will take their labor somewhere else where they can have a good life, that place will then benefit from their efforts.

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I know someone in local government who moved to a nice house in 83 in Greater London. Now the stamp duty alone would be almost a year of his salary.

This is an area where prices have not risen as much as other areas.

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I hope when the housing industry finally (and hopefully soon) runs aground and smashes into the ice berg the BBC will be held to account for their complete bias of house price increases being great for all society and happiness reporting. I thought the other day it would be an interesting study to chart all the housing journalism of the Beeb since the economic crash of both HPI is great whoooo hoooo, back to normal levels and above crap. Against the negative effects HPI has on the many many many groups within society into graph. Not sure how this would work but it would clearly demonstrate their bias reporting policy for all to see in a one hit visual.

It might be my imagination or wishful thinking, there does seem to be a bit more reporting in MSM about housing and problems surrounding it. As Eric says tip of the iceberg here, let's hope it all gathers speed.

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The main problem in Oxford is extensive green belt which was placed extremely tightly around the town limits when it was introduced.

Depends who owns the green belt. Building on it would do little to improve affordability if private land prices rise 100x in the process, but I can't find public/private ownership stats.

Edited by northshore

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