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BBC The Briefing Room: Britain's Broken Housing Market

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2 minutes ago, Patient London FTB said:

Seconded, well worth a listen.

Intelligent discussion, no EAs or other hardcore VIs to be heard. 

Not sure what has got into the BBC. Not one estate agent introduced as an "expert" who then declares that BTL has grown because demand for rental properties has increased. 

Is the BBC beginning to take housing seriously? 

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2 minutes ago, Ah-so said:

Not sure what has got into the BBC. Not one estate agent introduced as an "expert" who then declares that BTL has grown because demand for rental properties has increased. 

Is the BBC beginning to take housing seriously? 

Yes, partly because the government is starting to take housing seriously. 

Both attitude shifts are because HPI has got to the stage where the middle classes are smelling something unjust, rather than simply basking in their gains. 

 

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8 minutes ago, Patient London FTB said:

Yes, partly because the government is starting to take housing seriously. 

Both attitude shifts are because HPI has got to the stage where the middle classes are smelling something unjust, rather than simply basking in their gains. 

 

I can assure you that this fascination with housing wealth affects people of every class. Perhaps more those who are newer to money more than those who are more established. 

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10 minutes ago, Ah-so said:

I can assure you that this fascination with housing wealth affects people of every class. Perhaps more those who are newer to money more than those who are more established. 

Let me try and express myself better. The housing clusterf&&k is finally becoming evident to people at the top of politics, civil service and the media because it's their own children who can't buy a house and can't afford sky-high rents. They used to have the luxury of reacting to young people complaining about house prices by thinking/saying 'in my day it was difficult too, but I got there through hard work'. Now that their kids are struggling too, it's hitting home. 

Edited by Patient London FTB

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5 minutes ago, Patient London FTB said:

Let me try and express myself better. The housing clusterf&&k is finally becoming evident to people at the top of politics, civil service and the media because it's their own children who can't buy a house and can't afford sky-high rents. They used to have the luxury of reacting to young people complaining about house prices by thinking/saying 'in my day it was difficult too, but I got there through hard work'. Now that their kids are struggling too, it's hitting home. 

Nail on head.

The Tarquin's and Sophie's are forced to move to Zone 6 and further. Parents in Primrose Hill and its environs stunned that rabbit hutches out there cost £400k min....

 

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8 minutes ago, Agentimmo said:

Nail on head.

The Tarquin's and Sophie's are forced to move to Zone 6 and further. Parents in Primrose Hill and its environs stunned that rabbit hutches out there cost £400k min....

 

Is this a reality or just a hypothesis? Obviously an element of truth in this but I think it has been the case for years in London. Ever since zone 2 became unaffordable, the housing market in London has been a source of concern for wealthier Londoners and their offspring. 

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5 hours ago, Ah-so said:

Is this a reality or just a hypothesis? Obviously an element of truth in this but I think it has been the case for years in London. Ever since zone 2 became unaffordable, the housing market in London has been a source of concern for wealthier Londoners and their offspring. 

The issue now is that as one rather shocked well heeled lady put it 'they need more than TWICE what we paid for our first home and that's just the deposit'. The sub text was that housing looks like a ponzi to them and that they felt that it was risky put their money up as a deposit.

It appeared that the BOMAD can see the ponzi even if the crowds are still pretending not too.

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Given the posh woman from Bedford on Question Time this evening whose primary political thought on Brexit was: "But who is going to serve my coffee in Pret?" I am not sure how much to rely on the general populace catching hold of any particularly complex thoughts on the matter, even if it makes an appearance as 'an issue' in the general understanding. Hopefully that means "They're just too dear" might be a simple enough message to catch on, even if any deeper reasoning behind it doesn't. The problem seems to be that the idea has to fight the other simple idea that "There aren't enough houses" which has been pushed for a while.

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8 hours ago, Ah-so said:

I can assure you that this fascination with housing wealth affects people of every class. Perhaps more those who are newer to money more than those who are more established. 

Yup. Many of us who own our own homes have children who we would like to have the same opportunities that we had thirty or so years ago. And by extension a whole generaion of young people out there who are having a very tough time of it.

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There does seem to be something of a shift in the BBC's view on housing recently, there's just been a segment on my local radio about how expensive houses are to wages and how many twenty somethings are having to live at home or rely on BOMAD to get anywhere of their own. Significantly the local radio in question is Radio Lancashire & Lancashire has some of the cheapest least overpriced housing in the UK & the gap between prices & earnings is relatively narrow compared with other areas. 

What next, HUTH getting canned??

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Kate Barker (non executive director at Taylor Wimpy and Yorkshire Building Society)  said we only build affordable homes,  proof because someone buys them so they must be affordable, chuckle, chuckle... If so, then why do we need help to buy? Also, wasn't there some fat pig in Ashford that was buying all the new builds off plan. 

'Affordable' at 0.25% interest rates = bankrupt, divorced, suicidal at 2% interest rates. 

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4 hours ago, BlokeInDurham said:

Given the posh woman from Bedford on Question Time this evening whose primary political thought on Brexit was: "But who is going to serve my coffee in Pret?" I am not sure how much to rely on the general populace catching hold of any particularly complex thoughts on the matter, even if it makes an appearance as 'an issue' in the general understanding. Hopefully that means "They're just too dear" might be a simple enough message to catch on, even if any deeper reasoning behind it doesn't. The problem seems to be that the idea has to fight the other simple idea that "There aren't enough houses" which has been pushed for a while.

Yes, that was a coffee spitting moment. But to be fair, there were an awful lot of groans from the audience to that comment. 

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18 minutes ago, AvoidDebt said:

Kate Barker (non executive director at Taylor Wimpy and Yorkshire Building Society)  said we only build affordable homes,  proof because someone buys them so they must be affordable, chuckle, chuckle... If so, then why do we need help to buy? Also, wasn't there some fat pig in Ashford that was buying all the new builds off plan. 

'Affordable' at 0.25% interest rates = bankrupt, divorced, suicidal at 2% interest rates. 

Well as a former external member of the MPC you would hope that  she could tell the difference between a well functioning  and rigged market - clearly not.

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4 hours ago, BlokeInDurham said:

Given the posh woman from Bedford on Question Time this evening whose primary political thought on Brexit was: "But who is going to serve my coffee in Pret?" I am not sure how much to rely on the general populace catching hold of any particularly complex thoughts on the matter, even if it makes an appearance as 'an issue' in the general understanding. Hopefully that means "They're just too dear" might be a simple enough message to catch on, even if any deeper reasoning behind it doesn't. The problem seems to be that the idea has to fight the other simple idea that "There aren't enough houses" which has been pushed for a while.

Why should I pay taxes to house EU immigrants via tax credits so she can get cheap coffee?  (Although when I worked in McD in 88 in London it was 95%+ staffed by people who were born in the area so it used to be possible)

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4 hours ago, BlokeInDurham said:

Given the posh woman from Bedford on Question Time this evening whose primary political thought on Brexit was: "But who is going to serve my coffee in Pret?"

Make a flask love.

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5 hours ago, BlokeInDurham said:

Given the posh woman from Bedford on Question Time this evening whose primary political thought on Brexit was: "But who is going to serve my coffee in Pret?" I am not sure how much to rely on the general populace catching hold of any particularly complex thoughts on the matter, even if it makes an appearance as 'an issue' in the general understanding. Hopefully that means "They're just too dear" might be a simple enough message to catch on, even if any deeper reasoning behind it doesn't. The problem seems to be that the idea has to fight the other simple idea that "There aren't enough houses" which has been pushed for a while.

 

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2 hours ago, iamnumerate said:

Why should I pay taxes to house EU immigrants via tax credits so she can get cheap coffee?  (Although when I worked in McD in 88 in London it was 95%+ staffed by people who were born in the area so it used to be possible)

It's not that cheap ....

Is so frustrating to hear people complain those against immigration are racist / xenophobic but it quite ok to be in favour of gathering people from less well of countries to come and do jobs here for poor wages to live in crap HMO's or in this womans opinion make her coffee... 

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I suspect that one of the main reasons they are starting to consider the housing issue more realistically is because of the changes in political sentiment in recent years as evidenced by the unexpected Leave the eu vote, UKIP unexpectedly winning the eu elections, the unexpected SNP factor and in the US the unexpected Trump victory.

They can see the political consensus (typified by the LibLabCon's dodgy consensus) disintegrating all around them and they are searching for reasons and the housing/house price issue has been staring them in the face for two decades - at least two decades.  

That's not even to mention how tiny UK homes are compared to most everywhere else.

Keep voting for the so called no-hopers as they keep winning - unexpectedly.

Edited by billybong

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Slightly O/T but I was watching BBC Business this morning and they were discussing the Snap IPO.

They had some professional investor guy on there and they asked him what the best investment he ever made was...

His reply.. 'my house'

Cue breakfast thrown at the TV!

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It's also likely to be pre-emptive propaganda to anticipate the corporate Build to Rent of even tinier homes schemes that will likely be seen to be sprouting up most everywhere in Britain (especially in the south) over the next few years to try to meet their target of 1 million new (tinier) homes by the 2020 general election.  

Now only a bit over 3 years to build about 700,000.

They are under pressure on the housing issue because partly, say what you like about Corbyn, he keeps bringing up that issue with them.

Edited by billybong

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