Wednesday, July 2, 2014

Why are so obsessed about the price of houses?

Why are so obsessed about the price of houses?

Another radio show on house prices. Various callers. Very London centric, as expected. As usual, even though the fundamental plank of high house prices of the restricted supply was identified, the main reasons for high prices in London were missed. e.g. massive skew of jobs and capex projects in London [versus say, Grimsby], lapse tax laws on foreign investment [people, trusts, companies, convoluted off shore structures etc].

Posted by doomwatch @ 05:08 PM (3163 views)
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3 thoughts on “Why are so obsessed about the price of houses?

  • Its not that we are obsessed with the prices of houses, it is bankers and politicians who have the obsession! They feed the troll. Most of us just want a roof over our heads. A similarly banal headline may be “Why are we so obsessed with the price food and water?” (Because we are human, duh)

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  • Lack of supply was what caused the Irish construction boom. The high demand to cause the shortage of supply was from investors – it was fake demand, much like we are seeing in London with thousands of empty high end flats.

    It will not end well for those with highly leveraged London properties. Once investor demand evaporates as sporadically as it appeared you will be seeing 50%+ falls. Think is can’t happen? Neither did those living in Dubai, Dublin and Spain.

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  • @2…absolutely..as said here before there was plenty of supply in 2008/2009 when rates were around
    5% and northern rock/Bradford and bingly were going bust as btl went down the pan

    Now there is a construction boom for huge demand some.of which is fake along with the props like help to buy

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