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I bought a 2 bed terraced house 25 yrs ago for £60k Do you know what it's worth now?
I bought a 2 bed terraced house 25 yrs ago for £60k Do you know what it's worth now?
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How can people in London afford to live in London? well the answer is this, millions of them cant, but they don't have to worry because they are not paying
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Is the correct answer^^^^
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Property developers in London realised there was a fortune to be made building apartments for overseas investors. Dread to think how much dodgy money has been dumped into the London housing market.
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it is not that which drives the market, of course it has at the top end London has always attracted the wealthy even moreso in the past. It is the millions of everyday people that areimportant, and that is what has changed dramatically in the last few decades
In London eg at least one in four are on housing benefit |
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council housing? the original idea for council housing under the Bevin government was affordable housing for the working man, the important word being working
and not a form of social engineering |
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there was no mention for example of pregnant single mothers
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they were the responsibility of the family, perhaps that's why there were not so many of them despite there not being the pill until 1967
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the cost of housing benefit in London alone is something like 7 billion a year, probably more.
That is a lot of billions of pounds, every year, going into houses that people are unable to afford pushing prices up |
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its no wonder house prices are unaffordable
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I don't much like London, or London people
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That house in Burnley is surprisingly cheap.
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lfc1971..
Most London people don't live in London anymore, because London isn't for Londoners |
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lfc your talking bollix.. plenty of us londoners still live in london
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He ain't talking bollox, you are pal.White flight is accelerating at an alarming rate.London is a $hithole.
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some parts are , im south east and i dont know many who have left PAL
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There is a shortfall of around 170,000 new builds just to keep up with annual demand, this is ofc by design.
Property as PJ Proudhon suggested 'is theft', but was the default investment route for the majority of people. There was an interesting Moneybox episode on radio 4 recently that people might want to find on podcast. It was in search of the magic money tree  They actually went to the place where the bonds are auctioned and new money is ordered and given the banks. What very few people realise I suspect is that of all the money printed under QE only about 0.8% went to enterprise to encourage growth, the vast majority went as everyone might guess, to banks as cheap money but the rest actually got spent directly into private ownership of homes. |
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houses shot up between 1998 and 2008 .
the last ten years hasn't seen that much of an increase outside London ..maybe only about 50 % |