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Willy Weasel

Bear Food On The Doormat

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Just returned from holiday to find three letters from a local agent informing of price reductions on three houses on their books. Reductions on all three of about 30K. :)

Checked www.propertysnake.co.uk to find that a property in the same road as the house I sold has been reduced by 10K. :D

Yum yum - lots of lovely bear food.

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But!But!

There's a housing shortage

:huh:

Note: Not intended as a dig or otherwise at 'A Fool & His Borrowed Money' !

No no, there's an affordable housing shortage.

Listen to politicians when they go on about houses, they do use that word 'affordable' in there, so in the future they can never be accused of saying there was a 'housing shortage' by the ones (with houses) who vote for them (hopefully) when house prices drop.

Hypothetical post house price fall scenario :

Voter : But you said there was a housing shortage thus sustaining my 'house price' !

Politician : No, I said there was an affordable housing shortage.

Voter : What's the difference ?

Politician : I reckon about minus £80,000 difference now on your property since the rate rises, buy-to-letters flooding the market and no first time buyers getting back into the market. Still it's sorted the affordable housing shortage a bit. By the way thanks for voting me in for another 4 years. Next !

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Note: Not intended as a dig or otherwise at 'A Fool & His Borrowed Money' !

No no, there's an affordable housing shortage.

Get this all the time where I live.

"the government should build more affordable housing." "

"Affordable" is politician code for "not overpriced."

No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it).

They would loose votes from the property owning classes and be branded as irresponsible.

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Get this all the time where I live.

"the government should build more affordable housing." "

"Affordable" is politician code for "not overpriced."

No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it).

They would loose votes from the property owning classes and be branded as irresponsible.

Yup I agree.

The phrase 'affordable housing' suits both the home owners and those priced out, just what politicians need.. one phrase fits all !

Edited by Bill

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Get this all the time where I live.

"the government should build more affordable housing." "

"Affordable" is politician code for "not overpriced."

No politician or government is ever going to go on record and call for a house price crash, anymore than they will call for a stock market crash. They won't even say that houses are overpriced (though doubtless many will think it).

They would loose votes from the property owning classes and be branded as irresponsible.

They would also lose a considerable amount on their BTL portfolios

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They would also lose a considerable amount on their BTL portfolios

I wonder whether these with property put it on sale now. this would mean something starting with "C" is well on the way

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I wonder whether these with property put it on sale now. this would mean something starting with "C" is well on the way

Beacuse politicians have more foresight than the general public...

Oh no wait.

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