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Absolutely agree. As someone struggling to be a first time buyer its interesting (if you want a 'new' home), but a correction is necessary and this is just perpuating the stupid state of affairs we've got into over the last decade or two.
Regards,
Rob Philpott.
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There's a reason it's only on new builds. Nobody who could afford to buy a house in the first place would actually buy one of these (unless it's buy to let). We currently rent a 2 bed detached new build, it's tiny, the walls a paper thin, parking in the entire area (apparently the biggest private development in Europe) is insane - partially due to inconsiderate neighbours, and partially due to moronic planning. We have a garage attached to the house which doesn't even belong to it! Ours is part of some communal plot of garages currently used for flytipping.
On top of that, because it's so "affordable", the area is quickly becoming a dive, my car has been vandalised twice, grafitti everywhere, and 3 burnt out cars so far this year.
He who makes a beast out of himself gets rid of the pain of being a man.
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The UK?
My big concern about the inaffordability of house prices I saw in the UK with families increasingly forced to live in small, badly insulated (for sound) flats, with children having no garden to play in, and neighbours impingeing on each other purely because of the lack of space (ie stingyness of the developer) is the social issues and tension it causes.
It is unjust and unfair in every way, and governments must make it a basic right for a family to have accomodation of a decent size with propper facilities and it should enforce that through legislation.
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Go and live in DR Congo, pleny of space for houses there.
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Belgium and Holland have more land pressure than the UK yet manage to produce bigger homes.
The size of modern houses in the UK are inhuman.
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Yep, specifically Peterborough.
It's frustrating for me and my missus, we're both young (25), in well paying stable jobs, very comfortably covering our rent. Our problem is the deposit. From what I can gather, we need something in the region of 40k for anything other than a new build. We're saving hard, but it's going to take a while, and in the mean time we throw our money away paying someone else's mortgage.
He who makes a beast out of himself gets rid of the pain of being a man.
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What percentage is theat 40k, cant be 15% surely? (I mean, thats a super expensive house based on the assumption that lenders are looking for a 15% deposit these days).
Still, at least you have work.
On the continent renting is far more popular, thetre isnt the desire to own like in the UK.
Other interesting factors are legal debt levels. In France you cant be more than 33% of youyr net in debt. So if you take home 3k a month your total outgoings on loans cant be more than 1k.
You also need a good deposit, 15% is the norm. Plus mortgage terms are usualy 20 years.
ALl this keeps prices low, since the cash isnt there to push them up.
But it also means the owner has 66% cash each month to soend on what ever else he likes. So this actually benefits the economy since it is spent in restaurants, holidays, etc.
In the UK, where housing often takes up 50% of net, there is less cash to spend elsewhere.
You can see why I think the UK has gone badly wrong.
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UK is rotten to the core, over population, high number of immigrants, too many people living off the goverment - it's a complete mess.
I hope to join the migrants club and get the hell off this island in the next 15 years.
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Norm .net wrote: high number of immigrants
Norm .net wrote: I hope to join the migrants club
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I could just be a politician 
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I hope as an immigrant in another country, you are doomed to the same reception as you'd give them here.
(I doubt it though, the rest of world has more civilised attitudes to such migration in my experience).
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I'm happy and welcoming for different ethnic groups to our country where there is business and jobs for them, what I don't agree with is the influx of immigrant who to come to our county for a free ride, leaching of the few people left who do work for a living.
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You forgot that the garden is so small that if you have a barbecue you have to turn the food through the kitchen window.
Ideological Purity is no substitute for being able to stick your thumb down a pipe to stop the water
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That would be an interesting challenge in our house, the kitchen is at the front 
He who makes a beast out of himself gets rid of the pain of being a man.
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Sounds good, I may give up my 74 foot back garden for that 
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and the smoke fumes the neighbours washing!
But anyway, at least it is something of a garden to muck around in. I hate what happened to Britain in respectof housing in the last 20 years. OK, we aparantly did well out of it, our place there is paid off and worth 130 streling, 15 down form the peak, but I feel very sorry for the social injustice the whole thing caused, and the financial mess it is responsible for us being in now.
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Rob Philpott wrote: this is just perpuating the stupid state of affairs we've got into over the last
decade or two
Quite. It is utterly moronic for the tax payer to prop up BS house prices. Let the tax payer spend his money where HE sees fit, not be dictated to by incompetent government.
If the government really wants to speed up the inflation-devaluation process then they should force the banks to lend some of the 80 billion pounds they have been given over the last few years.
Personally, I would like to see the government print cash and give it to the pensioners. Add 30% to their pension. That would feed money direct into the high street and benefit the entire economy fomr the bottom up, rather than waiting for banks to trickkle it down. And it would get them big votes.
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The housing bubble has not burst.
From 1997 to 2007 house prices doubled (at least, in some areas it tripled).
Since 2007 they have fallen back, at an average of about 10%.
Reduction or softening in price, yes, but the bubble is still there.
see here[^]
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I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
CCC Link[ ^]
Trolls[ ^]
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Dalek Dave wrote: an average of about 10%.
Yes, some areas there is almost no change, London for example, but other have seen up to 30%.
True though, this isnt a sufficient correction, but, as much as we arent out of the recesion caused by the debt crisis, we havent seen the full correction yet.
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I agree with the principle, but in practice it will not fall that much.
------------------------------------
I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
CCC Link[ ^]
Trolls[ ^]
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Erudite_Eric wrote: WTF! Who are thes cretins we have in government?
The mob. They own all construction companies, directly or indirectly, mostly directly. So they have a huge interest in keeping the house prices as ridiculous as possible. Of course people have to be buying houses at all for that to work, but a nice bubble benefits them more than realistic prices.
So they're not actually cretins, it makes sense from their perspective.
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Minkey?
Are you Inspector Clouseau[^]?
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I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave
CCC Link[ ^]
Trolls[ ^]
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Ta geule espece de gros porc! 
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Nothing to say.
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