does the EU care about Britain's housing crisis?

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  • MoleskinMoleskin Posts: 3,098
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    Just seen a debate on the housing crisis on Sky News, big debate on whether we need to build on Green Belt land but not one mention of immigration from either side of the argument or the presenter, if immigration was cut then you wouldn't need to build as many houses but the establishment are still too scared to talk about that, seems to me they would concrete over the entire country rather than do something about immigration.
  • edExedEx Posts: 13,460
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    We don't need to build on green belt. For a start there are empty buildings up and down this country that could easily be brought back into use for a fraction of the money a new build costs. Start getting those bits done and you're already going a long way to meet housing need.
  • TheTruth1983TheTruth1983 Posts: 13,462
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    edEx wrote: »
    We don't need to build on green belt. For a start there are empty buildings up and down this country that could easily be brought back into use for a fraction of the money a new build costs. Start getting those bits done and you're already going a long way to meet housing need.

    Exactly the housing shortage is a myth and the high housing prices are not related to this. Low interest rates fueling the wrong kind of demand is responsible for our housing crisis.
  • crystalladcrystallad Posts: 3,744
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    Exactly the housing shortage is a myth and the high housing prices are not related to this. Low interest rates fueling the wrong kind of demand is responsible for our housing crisis.

    Can you explain what the wrong kind of demand is??
  • edExedEx Posts: 13,460
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    crystallad wrote: »
    Can you explain what the wrong kind of demand is??
    Financial speculators pricing people who want a home out of the marketplace.
  • crystalladcrystallad Posts: 3,744
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    edEx wrote: »
    Financial speculators pricing people who want a home out of the marketplace.

    I would say the lack of houses has pushed the prices up and financial speculators have jumped on the band wagon for an easy profit!

    Ban multi purchases and slow immigration down to let our housing and infrastructure catch up !
  • TheTruth1983TheTruth1983 Posts: 13,462
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    crystallad wrote: »
    Can you explain what the wrong kind of demand is??

    There is organic demand which would be young married couples looking for a home. This is the demand we want.

    Then there is speculative demand from financial speculators which is currently what is driving up prices. This is what we need to stop.
  • TheTruth1983TheTruth1983 Posts: 13,462
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    crystallad wrote: »
    I would say the lack of houses has pushed the prices up and financial speculators have jumped on the band wagon for an easy profit!

    Ban multi purchases and slow immigration down to let our housing and infrastructure catch up !

    And effectively kill off the rental market? It may come as a shock but some people want to rent as opposed to buy. If you limit all property purchases to people looking for homes, those who do not want to buy will have much fewer options.
  • crystalladcrystallad Posts: 3,744
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    There is organic demand which would be young married couples looking for a home. This is the demand we want.

    Then there is speculative demand from financial speculators which is currently what is driving up prices. This is what we need to stop.

    You dont mention the tens of thousand a year migrants who need homes?
  • crystalladcrystallad Posts: 3,744
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    And effectively kill off the rental market? It may come as a shock but some people want to rent as opposed to buy. If you limit all property purchases to people looking for homes, those who do not want to buy will have much fewer options.

    So limit the number to say 3? One to live and two to rent out?
  • [Deleted User][Deleted User] Posts: 9,720
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    Why IS the problem in the South Eastt? Why do most people want to live in an expensive overcrowded part of Britain, when vast swathes of Scotland and Wales could be theirs.

    http://upload.wikimedia.org/wikipedia/commons/thumb/a/a2/Uk_topo_en.jpg/388px-Uk_topo_en.jpg

    The South East is flat.
  • RecordPlayerRecordPlayer Posts: 22,648
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    And effectively kill off the rental market? It may come as a shock but some people want to rent as opposed to buy. If you limit all property purchases to people looking for homes, those who do not want to buy will have much fewer options.

    I don't think they do want to rent. Who wouldn't want to own their own property?
    Most of the people I know hated renting and as soon as they could, bought their homes. There are far too many of these buy-to-let properties. (especially in London) this forces a house shortage and pushes the house prices up.

    Banks are making it increasingly difficult for young people to get mortgages, yet these young people pay almost double for rent then they would if they were paying a mortgage. (which they're refused)
    Madness.
  • TheTruth1983TheTruth1983 Posts: 13,462
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    I don't think they do want to rent. Who wouldn't want to own their own property?
    Most of the people I know hated renting and as soon as they could, bought their homes. There are far too many of these buy-to-let properties. (especially in London) this forces a house shortage and pushes the house prices up.

    Banks are making it increasingly difficult for young people to get mortgages, yet these young people pay almost double for rent then they would if they were paying a mortgage. (which they're refused)
    Madness.

    Buying brings a lot of headaches that a lot of people don't want. When they rent, they don't have to worry about maintenance etc as it is taken care of by the landlord.
  • wear thefoxhatwear thefoxhat Posts: 3,753
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    Our social housing policy should be similar to that of the Isle of Man, you don't go on the list for a council house until you've lived in the UK for 10 years straight, in Jersey it's 5 years, no one just turns on those islands with numerous kids in tow and jumps to the front of list.
  • edExedEx Posts: 13,460
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    crystallad wrote: »
    So limit the number to say 3? One to live and two to rent out?
    And what about those who already have a large portfolio of rental properties? Should they be forced to sell on?

    The first thing I would do is impose a 30% stamp duty on purchases by any non-EU citizen who isn't already resident in the UK. That would immediately deal with the problem of Asian money buying what housing stock is being built off plan before anyone else gets a look in and just leaving it empty. I would then have the Treasury underwrite bank loans for developers who are converting derelict properties into housing, to ensure that the banks will lend to them despite the Asian money not being there. The same underwriting would be available for those putting up new builds on brown field sites. Those are quick fixes that shouldn't even cost the taxpayer a penny.
  • skp20040skp20040 Posts: 66,872
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    There is organic demand which would be young married couples looking for a home. This is the demand we want.

    Then there is speculative demand from financial speculators which is currently what is driving up prices. This is what we need to stop.

    In London the latest announcement will make many proeprties only available to overseas investors , the banks will make the maximum someone will be able to borrow 4 times their salary so even the basic flats in London will be out of reach of most ordinary working people, who could afford to pay the mortgage but wont be able to get it and then see there money basically disappear on rent instead.

    Add that to the fact that most of the new developments in London are high price luxury flats I dont see how this move will cool the housing market in this area at all.
  • TheTruth1983TheTruth1983 Posts: 13,462
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    skp20040 wrote: »
    In London the latest announcement will make many proeprties only available to overseas investors , the banks will make the maximum someone will be able to borrow 4 times their salary so even the basic flats in London will be out of reach of most ordinary working people, who could afford to pay the mortgage but wont be able to get it and then see there money basically disappear on rent instead.

    Add that to the fact that most of the new developments in London are high price luxury flats I dont see how this move will cool the housing market in this area at all.

    That is straight from the "How to stoke a property bubble" manual.

    I do despair sometimes.
  • RecordPlayerRecordPlayer Posts: 22,648
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    Buying brings a lot of headaches that a lot of people don't want. When they rent, they don't have to worry about maintenance etc as it is taken care of by the landlord.

    That's if they get a decent landlord....

    People who rent are essentially throwing their money away and lining the landlords pockets. When the landlord decides to sell, they have to move on and end up owning nothing, whilst continuing to pay rent somewhere else.

    I think it's wrong - everyone should be able to buy their own home.
  • SULLASULLA Posts: 149,789
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    The EU is only concerned with the continuation of the EU
  • [Deleted User][Deleted User] Posts: 4,074
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    I think it's wrong - everyone should be able to buy their own home.
    They are if they earn or make enough money.

    If the rent is as much or more than the mortgage would be then help with the deposit and or providing some underwriting like the government schemes do is what people need to help them buy rather than rent. And for those that cannot afford to buy a whole house there are some part buy part rent schemes. The government has a plethora of schemes to help people, even some for the low paid and those on some benefits like disability benefits.

    While from the other direction to lower prices the government has changed the regulations and has schemes to encourage more house building that are starting to work. More houses, more supply should help.
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