Says they’ve built more homes since he became mayor than any time since the 1930s. Fair play to him.
by Entire_Fox2441
Says they’ve built more homes since he became mayor than any time since the 1930s. Fair play to him.
by Entire_Fox2441
25 comments
*Sadiq slams straw boomers on the housing crisis
Could also lower prices by slowing demand
Completions have slowed under Sadiq
*SLAMS*
I don’t think house prices are the issue. I think it’s people’s wages.
People in the UK are massively underpaid.
He’s right.
We need to build, build, build. He understands this and Starmer understands this. I just hope they can build over the objections of the NIMBYs and the Tory’s plans to put up legal obstacles!
Don’t know if it’s slamming more than critiquing.
Why does it never get mentioned what would happen to the economy if people did stop going out, stopped going for a coffee, stopped streaming, buy phones etc etc…
Bollocks!! I unsubbed from Netflix and stopped buying Costa coffee and now look at me
Love this guy what a legend
Being fair, I cut back on flat whites and subscriptions in general for 10 years, invested every penny I earned and recently put a deposit down on a property in London.
He has a point, prices are ridiculous, but to deny that my generation (millennial) is terrible with money is not being honest, and thats a massive understatement – most of my friends, all of my ex partners and their friends all had/have no, or next to no, savings and credit card debt even though a lot earn as much if not more than me and have done during the same period.
The compound interest earnt not buying a £5 coffee every day, over the course of a decade, and instead invested in the stock market is literally £10’s thousands. Include subscriptions, unnecessary spending on clothing, that holiday to Dubai you didnt need to go on or an inability to say no to one or two social gatherings a month, and you have a house deposit gone after 10 years.
Edit: Even though this is reality, I will await my downvotes because shouting at other people is easier than being honest about your finances.
I’m waiting for them to fill in that bit between the city and canary wharf with high rises.
Same guy that put Corbyn down relentlessly? Same guy who shills the neoliberal Labour establishment? Same guy who is a landlord? Very simple to solve – Property cap and stop foreign ownership of property. And then build.
You can also blame the government and BoE for all the money printing (QE) since 2008 that massively devalued the currency. The pound has lost about 20% of its purchasing power this year alone. You exchange these pounds for the house and therefore need more of them to compensate for that loss of value.
Interestingly, the average house when priced in ounces of gold, which is legal money, is at a 40 year low.
How is this slamming ‘boomers’ lmao
Based Khan!
But the majority of property owners in London are not boomers per se but equity firms and international investors. Why and how they keep allowing so many “developments” stay empty as an “investment” for foreign capitals, it’s obscene
The simple fact is Londons housing market isn’t a city wide one or even a national one, it’s a global one. The worlds millionaires can out compete most working people by a considerable degree which has a knock on effect on everyone. I’m not offering solutions mind, only stating what I believe is the core problem.
“…slams boomers…” Where is he slamming boomers? I read his speech as slamming the housing market and lack of stock. Not boomers.
PS – Not a boomer.
A large number of London homes will be owned by foreign investors.
Don’t forget about the avocado toast, god forbid!
Do you happen to have a source for the details in this post?
He is right and he should voice this message louder and louder and never stop. The situation in London is disaster. Not to mention that 80% of new builds are priced for the elite, and purchased by foreign investors. They also include extortionate service charges and the buyers are not even considered to be owner , but leaseholder that pays ALL costs instead of the owner/freeholder. In a lot of cases the leaseholder has no idea who the freeholder even is. Yet they are paying all the freeholder’s costs.
He has been mayor for 8 years, but situation got worse. I don’t think he is eager to solve the situation as he claims
He didn’t mention avocado toast. That costs at least £100 / year
Times that £100 by 10,000 years…you’ve got yourself a 2 bedroom flat in London…(providedthereisnoinflation4ever)
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