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Councillors Wants More Affordable Homes

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I just listened in awe of local councillors who prattled on about building more and more affordable housing (not disputing the need by the way) but it was the way that they reckoned that they honestly thought it was possible to buck the market place. So I asked them to define an affordable house what multiples of earnings would they price it at, They had no idea. How would they keep it affordable, i.e. what if some one bought a rabbit hutch and then extended it for example, what were they doing about providing more housing for pensioners as I pointed out, once the backside falls out of the house market this will still be one of the growth sectors of society and probably with insufficient pension incomes and a need to trade down (thus freeing up bigger family sized homes etc)

Totally blank stare follows nope what we need is affordable housing andf lots more of it, no mention of how freakishly low interest rates have caused the housing price boom and as far as they are concerned HPI is only going to get worse. I was told quite catigorically that next year houses will cost tens of thousands of pounds more than this year and all about youngsters not getting on the bottom wrung etc, etc.

Talk about just saying what people want to here without actually understanding the problem and by the way I am not against building houses locally I am very much in favour but I came away totally amazed at how poor local authorities understanding of housing economics and of market dynamics.

Mentioning that the backside might fall out of the housing market by the way was almost viewed as sacrilige, no wonder the sheeple end up in such a mess if they hang on the advice of these elected members and officials.

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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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