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When will politicians begin to favour lower over higher house prices?


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13 minutes ago, Si1 said:

Genuine question. It's been accepted political truism that higher house prices are good for about 20 years. When will this bias change?

Good question.  I would say longer than that to be honest more like 30 years.

I would say when people realize that it is only good if you have more houses than offspring.  Or if you are cynical when people want their children to be able to afford nice homes.

Possibly never sadly.  Sadly a young MP couldn't buy anything decent in most of London now. 

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House prices and 'aspirational ownership' was a Thatcherite policy - handing council houses over created an overnight 'success' story that the 'spoon lot lapped up (I earned my mad gainz, innit).  As they traded up, they needed increasing prices to drive their equity.

With the 90s crash, the same generation now hit NE and 16% IRs.  Labour made political hay from it, so any correction to house prices is now baked as political folly. You can't even use Global Events (cos Labour cause GFC, innit). 

Either we can inflate and reset or have a Global catastrophe forced upon us.

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1 hour ago, Si1 said:

Genuine question. It's been accepted political truism that higher house prices are good for about 20 years. When will this bias change?

When they can no longer control and prop them up and a crash comes. Then they will say it’s for the benefit of the younger generation 😉

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1 hour ago, Wayward said:

Only after a real shock ...much worse than financial crisis or covid..

I don't think we are through the covid crisis yet, we're still in the middle of it.

I think once renters outnumber landlords/homeowners the political narrative will shift.

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3 minutes ago, spacedin said:

Can you imagine the public outrage at the mere suggestion that the government should do something to help lower house prices?

kirstie.jpg

 

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On 20/01/2021 at 20:22, Si1 said:

Genuine question. It's been accepted political truism that higher house prices are good for about 20 years. When will this bias change?

Well the conservatives have a lot of money from property companies so whom pays the piper calls the tune.

Unless
 

  • The donors favour volume over value.
  • The economy is so ******ed that they cannot do anything about it
  • Another party looks like its about to win with a lower house price mandate
  • Someone pays them more to let them fall.

 

Thanks to HTB we are ******ed and the government cannot let prices fall.....if they can help it the question is does COVID constitute a structural crisis so saving housing will just be like painting the walls in a burning building. 

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On 1/20/2021 at 8:22 PM, Si1 said:

Genuine question. It's been accepted political truism that higher house prices are good for about 20 years. When will this bias change?

Not in anyone's posting lifetime in nominal terms. 

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On 20/01/2021 at 22:03, spacedin said:

Can you imagine the public outrage at the mere suggestion that the government should do something to help lower house prices?

The home ownership stats as measured by the ONS are highly misleading though as they measure on a household not a per capita basis.

The majority of households are owner occupied - but that measure treats a house with one elderly pensioner the same as the house next door with four young people renting together from a landlord. So on the official measure there is 50% home ownership but in reality only 20% of the 5 adults living in those two houses actually own a home.

Most people therefore already actually live in rented accommodation - but they lack the voting power.  Renters - private and social ones - are much more heavily concentrated in London and other big cities in safe Labour seats.

Edited by MARTINX9
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On 20/01/2021 at 20:22, Si1 said:

Genuine question. It's been accepted political truism that higher house prices are good for about 20 years. When will this bias change?

When pigs fly.  Hell freezes over.  The Second coming of the Messiah.  And only in that order. 

And your next naive question is.....?

Edited by anonguest
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On 20/01/2021 at 20:25, mrlegend123 said:

When baby boomers are no longer in position powers.... 

when young MPs are struggling to buy..... 

the tide will change! 

The second point will never happen in any great numbers. Most MPs are "from money".

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11 minutes ago, anonguest said:

When pigs fly.  Hell freezes over.  The Second coming of the Messiah.  And only in that order. 

And your next naive question is.....?

If I'm chivalrous and kind will women queue up to jump into bed with me? ;)

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