Friday, November 7, 2008

Apparently there is a housing shortage

We still need places to live

Apparently there is a housing shortgage, and we need to build lots more houses, or house prices will shoot back up again. Where I live, there are between 6 and 300 homeless people, depending on who you ask, and around 1500 new build flats being constructed at the moment. Even if all the homeless people do get housed, and I doubt they will, who's going to buy the remaining places. Not to mention that there are a lot of empty places already.

Posted by jonb @ 01:50 PM (1735 views)
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18 thoughts on “Apparently there is a housing shortage

  • waitingfor hpc says:

    yeah and where i live there is a lot of demand for aston martins too – but not everyone gets one!

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  • scandinavian pessimist says:

    Let ’em build as much as they want. Who cares if there is a shortage or not, build more houses and prices will fall further! That can’t be be thing, can it?

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  • scandinavian pessimist says:

    That can’t be a BAD thing, can it?

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  • I don’t want my money being taken off me to build a load of derelict slums when I could be keeping it to save up for a deposit on a decent place.

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  • japanese uncle says:

    With neither income nor savings, how can people expect to live in a luxirious flax? During the very hard times to come, many young workers and jobless people will opt for bed-sit, particularly in London where even a bed-sit would cost the price (rent) of a two-bed flat in the province. This is the reality of a life under recession/deflation. Demand of space (total area of living space) will considerably shrink, despite there are hundreds of thousands of emply houses. The gearing effect of these two elements could be powerful, in bringing down both house prices and rents.

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  • it is true we all need somewhere to live, but what about the million empty houses in the country!!!! this figure is probably much higher if you add all the empty new build flats………..

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  • “One minute Gordon Brown says we need to build 3m homes before 2020, the next he’s allowing the construction industry to contract to a point where it’s only building 75,000 a year”

    what better proof that the housing shortage claim was all a myth. With so many new flats and so many big houses being ‘developed’ into multiple flats, and now immigrant labour flooding out there’s more likely an over supply

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  • c'mon correction says:

    Surely we’re going to have a net outflow of EU migrant workers over the next 3 years? I guess at least a million people will leave these shores as jobs dry, the pound crashs and more competition for jobs puts wage inflation into reverse??

    That’ll leave hundreds of thousands of empty properties (on top of what we have already 350,000 empty properties isn’t it?) with no demand for anyone to live. All those BTLers out there had better prepare to compete with all the others to reduce their rents and start making a contingency plan of how to deal with Void properties (something most of the latest wave of amteurs won’t have experienced yet).

    Things are looking worse and worse for the BTL market. Any landlords who don’t have the means to pay for empty property mortgage interest going through a deep recession (IMF and countless others now confirm UK is the worst placed in the world) should sell up now, before it’s too late.

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  • @ C’mon quote “btl landlords should sell up now, before it’s too late.”

    that boat left ages ago .. the only boat leaving port is the titanic

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  • george monsoon says:

    There is no housing shortage. this is another VI spin, with no substance or evidence to back it up.

    How many builders do you know that are planning to build at present. By the time they finish building the yield will have dropped with the prices.

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  • there is not a housing shortage just an affordable shortage when prices keep falling more m.t houses will get bought it just that they are over valued and until the govt admits this and drop prices to there true value, 3.5 x average earnings the sooner the better if not the u.k will be full of m.t houses as no one will have a job so no one will be able to get a mortgage

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  • Key word missing in all of this which is affordability – Affordable homes backed by affordable loans – a further 40% downward price correction and rates down by another 0.5 to 1% and I might start believing the c**p

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  • T

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  • About 5 million have come to the UK since 1997. So we do need more housing. I found out recently that the house opposite but next door has ten people in it. This is an ordinary semi-detached house, perhaps a large one because I know as all the houses in the road are identical, that there are 2 bedrooms, one small room and an attic room. So they must have put some in a living room. There are two rooms and a kitchen on the ground floor but they are both small, these aren’t large houses, but they are old and have small rooms. I am sure a single kitchen and a single toilet breaches the house in multiple occupation rule but I dare say this is a cash in hand type deal.

    We only need more housing if we want families and the most expensive part of land for homes is the value of the planning permission.

    Personally I think there is a massive housing shortage and when people renting rooms overcome their caution out of desire to have families, breeding being a part of our nature, it will swamp social services. Without increasing house prices because they can’t afford to buy…

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  • When you look at the contradiction of “perhaps a large one” against “these aren’t large houses”, what I meant was that they seem large in comparison to semi detached houses across the UK but they aren’t very large as far as room size goes, and certainly not large with ten people in.

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  • The houses already exists, we just need to find some way to provide them to people.

    How about Government doing this:
    * fixing up structurally solid houses rather than letting them rot, or be demolished for many costly new boxes, which you can’t swing a cat in.
    * arranging the option of shared ownership, for people who can no longer afford to pay a full mortgage on their property, to reduce the rehousing costs for homeless people.
    * arranging rental for holders of empty houses, possibly with financial incentives, so that the holders can recover some money from the property, and help shorten councils’ housing waiting lists.

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  • Stillthinking

    5 Million – Hmmmmmm and do you really think the uk can and should support them, i am no racist but i have constantly said it will be a social disaster, as unemployment rises there will be resentment, we only have so many immigrants because our elected ( and now un-elected ) leaders say we NEED PEOPLE, the south east of the UK is the most populated area on the earth ( thats official by the way ), what we need is to stop further immigration and start to look at ways of reversing what history will show is a collosal error.

    Taxes are already going to rocket to pay for the banks bail outs, prepare for it to get far worse as the social system really wont cope.

    Sadly i see serious social unrest, there are lots of people who are not racists but will ask the obvious question ( you know what i mean ) when they are laid off.

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  • we need more houses
    but we will never get as many as 75 thousand a year. even if we did it still wouldn’t be enough cause of the population

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