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undersupply

Housing Affordability Worldwide

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Excellent link.

In my experience (as a Brit living in the US, and having lived in California and Massachusetts) the UK is much much worse than the US.

In the US California is a housing disaster, and I expect a financial train wreck to occur when "low start"adjustable rate mortgages start to adjust in the next 2-3 years.

Las Vegas, Phoenix, much of Florida, and the northeast (Washington, New York, Boston) are quite inflated, but even in Boston you can buy a 4 bed detached home within 30 minutes train ride of the city center, with good schools for under $350,000 .... a lot more affordable than London !

The center portion of the US, from the midwest to the south is still very affordable, with a few exceptions.

In contrast it appears to me that most of the UK is wholly unaffordable, and if I were to return to the UK my standard of living would be very very poor.

The UK faces a choice between two bleak futures. If prices stay as they are the future is very bleak for young people whos parents have mewed their inheritance away. If prices crash the short term future is very bleak for a "consumer" economy. I think I'll sit this one out for a while.

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sean taylor,

Posted this one a while ago, hardly got a mention, it is indeed a very thorough and interesting read regarding the current situation. Bit of luck more people will see it this time.

Edited by OnlyMe

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karhu

One can only surmise the govt, the banking establishment (including the BOE) and those in plannnig and the provision of housing including the builders themselves get a great deal of satisfaction out of shi**ing on their own population.

They have also played a large part in destroying what is left of manufacturing and flooding the market with debt that now an incresaing number of poor sods are throwing back up.

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karhu

One can only surmise the govt, the banking establishment (including the BOE) and those in plannnig and the provision of housing including the builders themselves get a great deal of satisfaction out of shi**ing on their own population.

They have also played a large part in destroying what is left of manufacturing and flooding the market with debt that now an incresaing number of poor sods are throwing back up.

O.M. I'm virtually at the end of my tether with this situation. We've been discussing this for weeks and finally we're seeing the visible cracks in the economic wall. What scares me more than anything else is when this whole thing comes tumbling down, what are these idiots going to try to do to stop the inevitable?

It's very sad. I've been a Labour supporter all my life. Quite frankly I'm sick of this government and their no substance spin politics.

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I find it amazing that Las Vegas is in there and Bristol. OMG!!!!

I dont, Bristol is a bloody expensive place to live. And to add insult to injury its a crap place to live, there is a severe crime problem and Bristol has one of the worst performing councils and some of the worst schools in the country! There also gridlocked roads nearly all day long. Rubbish.

Edited by 50:50

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Good article. Quite an interesting read. I especially liked the following bits:-

<<<Smaller House and Lot Sizes in Ireland and the United Kingdom: Ireland and the United

Kingdom are building houses far smaller than in the other four nations. Moreover, the UK and

Ireland are crowding three or more houses on the same land that would be used for a single house

in Australia and six or more compared to the United States. The Median Multiple, as presented, is

not adjusted for differences in house or lot (block or section) size.>>>

<<<Value for Money: New houses, adjusted for size differences, are more than twice as costly relative

to incomes in Ireland and the United Kingdom as in Australia and New Zealand. Moreover, new

houses in the UK and Ireland are approximately five to six times as costly, adjusted for size

differences, as in affordable markets such as Indianapolis or Winnipeg. Figure 11 illustrates the scale

of differences in housing affordability that would be evident if the Median Multiple were adjusted

for house size.>>>

So based on the size of the property versus the sizes of properties in mentioned countries our house prices are 15x earnings for the space you get for your money!!!

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  • 301 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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