Sunday, July 15, 2007

There is no housing crisis??

Housing crisis? What crisis? The most puffed up panic in the land

Entertaining... "There is no housing crisis. There is just a housing market. There is no housing “need”, unless you are sleeping in the street. There is just housing demand and housing supply. There is also housing panic, housing lobbyists and housing stark raving madness, the last much in evidence last week"Thatcher’s worst of all, subsidised home ownership as a vehicle for savings. Brown cut the subsidy but collapsed confidence in private pensions and reinforced the belief that “a house is a pension. This has driven up house prices, led to panic hoarding of space and burdened young people with debt

Posted by confused76 @ 09:40 AM (492 views)
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3 thoughts on “There is no housing crisis??

  • You sense the guy had steam coming out of his ears while he wrote this – and it’s also a pretty fair bet that he owns a nice place in the rural south-east which cost him much less than it’s current market value…

    In some respects he is right though – there is a huge amount of derelict land that could be redeveloped.

    Don’t pour our tax money into regeneration grants though – give freeholders notices requiring ‘brownfield’ sites to be either cleaned up (properly) and returned to a rural state – or re-developed. If they fail to comply within 12 months, tax them heavily. If the owners haven’t registered the land, or can’t be traced, post notices on the land, seize it – and auction it.

    The same should also apply to empty and derelict property.

    Above all, the one thing the govt needs to do is to stop messing around – and get on with the job!

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  • Good article in the main – very enjoyable. But why does he assert that renting is preferable to buying – esp. when you actually want to buy a house.

    If some greedy BTL has nabbed the cheapest terraced houses in your street for their pension pot and pushed the prices up to 250% – then that’s an issue.

    Ok – I agree renting is fine if you are young, a student or very badly paid – but he doesn’t square the argument as to why the average FTB is now in their late-30s – unless I missing something – that’s over 10 years since that person would be interested in buying a first-time home – considering all ‘normal’ life events has happened.

    Yes – land lies idle or derelict, houses empty and planning applications slow – buy the rampant ‘investment’ that has been going on has had the major effect of cranking up prices into an asset bubble.

    All-in-all the govt. are using the olde bogey-man routine – as they did with the ‘War on Terror’ (or the Artist formally know as the War on Terror) – so that they can do what they want again. Face it – they know they need more investors for this housing pyramid scheme – as the housing investors (mortgage-junkies) are maxed out – they know are crash is just around the corner – coz there ain’t no FTBs no more! And they daren’t touch the BTL / Housing Investor brigade for fear of an election massacre!

    YES – THERE IS NO HOUSING CRISIS IMHO (TOO SOME DEGREE – caveat man) – p.s. when did it turn into a ‘Housing Crisis’

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  • Good article, nice to see someone actually pointing out that our owner occupation rates are bloody good compared to most of the world.

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