Wednesday, August 31, 2011

More on the ‘corrupted’ nation

Britain has too few homes for sale

"They are a national sport, an unhealthy obsession, guaranteed to lift newspaper sales and warm up the most icy dinner-party conversation: I refer, of course, to Britain’s house prices. Napoleon’s nation of shopkeepers has indeed become a nation of homeowners, every one of us determined to acquire a slice of Eden to call our own. But there’s trouble in paradise."

Posted by dill @ 12:01 PM (1467 views)
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16 thoughts on “More on the ‘corrupted’ nation

  • mark wadsworth says:

    That’s refreshingly un-Home-Owner-Ist, given the source. I normally only expect this sort of thing in Graun, Indy or FT.

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  • Exeter has well over a thousand homes for sale, a figure that has remained constant over the last five years. Many hundreds of the properties have fallen through, rented and re-marketed without success. THERE IS NO SHORTAGE OF HOMES FOR SALE. What we have is unaffordable housing. In the last years of the boom, a large proportion of home buyers were simply priced out of the market, and will remain so until affordability returns, either by inflation or falling prices, neither of which has yet happened.

    0.5% base rate policy does not make houses affordable, as property is still 6 – 8 times average earnings. Buyers have given up, and choose to rent for convenience and they can choose to put their savings elsewhere. Current home owners should wake up and realise that their dream nest egg can no longer be sold on to the next person.

    Talk of future house price growth in the tabloids is simply short sighted vested interested parties with their heads buried in the sand.
    With a lost generation of home buyers, the property ladder has been well and truly cut in half.

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  • A very good summary of the problems with the housing market, from the tenant’s perspective.

    My only quibble is with the title. There are plenty of properties for sale that are unaffordable to many renters.

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  • rubbish there are loads of houses for sale, the only problem is they are OVERPRICED

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  • This article is a good sign. London-based media are paying lower salaries to London-based journalists (because the internet is eating their profits). The journalists they employ are now the same young (and not-so-young) people who can’t afford even a modest home in London.

    If the housing shortage was worse outside London, we wouldn’t even hear about it for another decade.

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  • The author of this article obviously hasn’t visited West Yorkshire recently.

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  • Good on the problems, but crap on solutions..

    ..just build more – by removing planning restraints and other red tape – and then let nature take its course…

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  • If house ownership is falling there are too many properties for sale relative to demand and not, as the title suggests, too few.

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  • From previous posts in the last 4 days (albeit this quote is from a North East of England ESTATE AGENT) –

    “Gareth Jones, the owner of estate agent Red Hot Property, with offices in Hexham and Newcastle, said there are now 16 properties for every buyer”

    Full article @ http://www.journallive.co.uk/north-east-news/todays-news//2011/08/27/north-east-sees-largest-fall-in-house-prices-61634-29312283/

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  • 4. mark said…rubbish there are loads of houses for sale, the only problem is they are OVERPRICED

    ~ How many more times does the bloody obvious have to be pointed out.

    Give us that dayglow paint tin, a black hoody and a set of ladders mark.

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  • markj69 str05 says:

    It’s crazy. The avg’ house price (according to NW and RM figures), is back to the levels of mid’06 and early ’07, respectively. Hfx figures compare to mid’05, which is a little more encouraging. However, consider the following:
    1. Houses were unaffordable back then too.
    2. Money was easy to borrow.
    3. RPI/CPI was acceptable
    4. Cost of living was comfortable. Wage inflation covering RPI/CPI

    So what the [email protected] makes anyone think that houses are affordable now, or that the current avg’ HP is acceptable?
    6-8x avg’; salary is unacceptable.
    Boe have dropped the IR and Gov’t have dropped any thought of regulation (along with their pants), and the banks have been giving everyone a good hard shafting. 4yrs after the credit crunch started and what’s changed? Bugger all.

    Reply
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  • markj69 str05 says:

    It’s crazy. The avg’ house price (according to NW and RM figures), is back to the levels of mid’06 and early ’07, respectively. Hfx figures compare to mid’05, which is a little more encouraging. However, consider the following:
    1. Houses were unaffordable back then too.
    2. Money was easy to borrow.
    3. RPI/CPI was acceptable
    4. Cost of living was comfortable. Wage inflation covering RPI/CPI

    So what the [email protected] makes anyone think that houses are affordable now, or that the current avg’ HP is acceptable?
    6-8x avg’; salary is unacceptable.
    Boe have dropped the IR and Gov’t have dropped any thought of regulation (along with their pants), and the banks have been giving everyone a good hard shafting. 4yrs after the credit crunch started and what’s changed? Bugger all.

    Reply
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  • markj69 str05 says:

    It’s crazy. The avg’ house price (according to NW and RM figures), is back to the levels of mid’06 and early ’07, respectively. Hfx figures compare to mid’05, which is a little more encouraging. However, consider the following:
    1. Houses were unaffordable back then too.
    2. Money was easy to borrow.
    3. RPI/CPI was acceptable
    4. Cost of living was comfortable. Wage inflation covering RPI/CPI

    So what the [email protected] makes anyone think that houses are affordable now, or that the current avg’ HP is acceptable?
    6-8x avg’; salary is unacceptable.
    Boe have dropped the IR and Gov’t have dropped any thought of regulation (along with their pants), and the banks have been giving everyone a good hard shafting. 4yrs after the credit crunch started and what’s changed? Bugger all.

    Reply
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  • markj69 str05 says:

    It’s crazy. The avg’ house price (according to NW and RM figures), is back to the levels of mid’06 and early ’07, respectively. Hfx figures compare to mid’05, which is a little more encouraging. However, consider the following:
    1. Houses were unaffordable back then too.
    2. Money was easy to borrow.
    3. RPI/CPI was acceptable
    4. Cost of living was comfortable. Wage inflation covering RPI/CPI

    So what the [email protected] makes anyone think that houses are affordable now, or that the current avg’ HP is acceptable?
    6-8x avg’; salary is unacceptable.
    Boe have dropped the IR and Gov’t have dropped any thought of regulation (along with their pants), and the banks have been giving everyone a good hard shafting. 4yrs after the credit crunch started and what’s changed? Bugger all.

    Reply
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  • markj69 str05 says:

    Ooops. Not sure what happened then, i only meant to post once. Honest!

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  • Good comment anyway!

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