With landlords in a policy persuading position, that jellyfish will withstand many many pokes
There’s nothing to collapse. The issue is supply. At absolutely best prices will incredibly slowly steady up and decline slightly.
Even if the market did collapse and prices fell, would that really result in a better situation? Surely the competition would increase massively as there’d then be a much larger amount of people who could afford a home. Likewise any rich landlords or investment firms with cash in their pockets could just buy up all the supply of homes at a massive discount.
That’s not to say things are better as they are (they’re shite), but I don’t think it’s as simple as saying ‘yay houses are now cheaper therefore I’m definitely getting one’. As the other poster in this thread has already pointed out, there’s limited supply and a lot of people looking to buy.
Would a collapse really help all that much? There will be a lot of construction companies gone out of business or at the very least scaling back. There isn’t enough houses at the moment, what happens when supply starts to dwindle?
Most of the housing estates I work on have the houses sold around the same time as the foundations get poured. There’s high demand, very high demand.
I know there’ll be less demand when there’s a crash, but it’s not going to drop below the amount of houses we have, and anyone with money is going to snatch as much property as the can.
If people aren’t demanding that the state directly employ them into a home building program, structured to pay for itself through selling homes, with all the training required etc. etc. – then nothing will change.
Force the government to implement a Job Guarantee, and direct it to end the housing crisis – or get used to having no future.
You’re all.jusy looking in the wrong places.
A collapse of the housing market, absent a massive uptick in supply from new construction, is usually accompanied by an economic recession that dramatically lessens the buying power and credit stability of the average first-time home buyer. It also produces an environment where large investors with cash liquidity can come in and scoop up lots of property at a steal as a future investment. The wish for a housing market crash is very much a monkey’s paw situation that would likely lead to even less private home ownership and more institutional landlords.
can the market wait for like 3-4 years so I can have decent savings so I can buy at the absolute bottom?
This is the dream.
If there is a crash there’s no incentive to sell if you can’t make repayments, you just stop making them and live in your house
The market is choking not inflated. It will not collapse, what will need to happen is an increase in supply to about 40k units a year for 5-10 years before it will even out and start reducing in value. But otherwise actually the price in building houses has gone up, there are less tradesmen and the supply of a number of products has run very low or completely out.
For example I’m buying right now and they couldn’t get the same Dimplex heat pump so the builder had to get a more expensive one, that meant the entire fitting of the house was more expensive than the older versions of the same house from previous waves. Good for me in a way because I get a better/bigger heat pump which means my hot water will be more stable but it means the price of my house was 2k more, that’s just 1 specific thing but the entire house had that. The price of timber went up so my floors and walls were more expensive. That isn’t an inflated market, that’s just worldwide shipping and supply issues.
The issues stem from the fact that construction of residential housing is limited because of all the bullshit paperwork required in doing it, and the monumental startup cost that goes to local councils.
No one can build houses because it’s just too expensive. But if you’re a foreign investor, no problem. Because that’s how our government wants it. The current young generation, I mean under 25s, will be unable to afford their own houses. It’s a disgrace
13 comments
[deleted]
With landlords in a policy persuading position, that jellyfish will withstand many many pokes
There’s nothing to collapse. The issue is supply. At absolutely best prices will incredibly slowly steady up and decline slightly.
Even if the market did collapse and prices fell, would that really result in a better situation? Surely the competition would increase massively as there’d then be a much larger amount of people who could afford a home. Likewise any rich landlords or investment firms with cash in their pockets could just buy up all the supply of homes at a massive discount.
That’s not to say things are better as they are (they’re shite), but I don’t think it’s as simple as saying ‘yay houses are now cheaper therefore I’m definitely getting one’. As the other poster in this thread has already pointed out, there’s limited supply and a lot of people looking to buy.
Would a collapse really help all that much? There will be a lot of construction companies gone out of business or at the very least scaling back. There isn’t enough houses at the moment, what happens when supply starts to dwindle?
Most of the housing estates I work on have the houses sold around the same time as the foundations get poured. There’s high demand, very high demand.
I know there’ll be less demand when there’s a crash, but it’s not going to drop below the amount of houses we have, and anyone with money is going to snatch as much property as the can.
If people aren’t demanding that the state directly employ them into a home building program, structured to pay for itself through selling homes, with all the training required etc. etc. – then nothing will change.
Force the government to implement a Job Guarantee, and direct it to end the housing crisis – or get used to having no future.
You’re all.jusy looking in the wrong places.
A collapse of the housing market, absent a massive uptick in supply from new construction, is usually accompanied by an economic recession that dramatically lessens the buying power and credit stability of the average first-time home buyer. It also produces an environment where large investors with cash liquidity can come in and scoop up lots of property at a steal as a future investment. The wish for a housing market crash is very much a monkey’s paw situation that would likely lead to even less private home ownership and more institutional landlords.
can the market wait for like 3-4 years so I can have decent savings so I can buy at the absolute bottom?
This is the dream.
If there is a crash there’s no incentive to sell if you can’t make repayments, you just stop making them and live in your house
The market is choking not inflated. It will not collapse, what will need to happen is an increase in supply to about 40k units a year for 5-10 years before it will even out and start reducing in value. But otherwise actually the price in building houses has gone up, there are less tradesmen and the supply of a number of products has run very low or completely out.
For example I’m buying right now and they couldn’t get the same Dimplex heat pump so the builder had to get a more expensive one, that meant the entire fitting of the house was more expensive than the older versions of the same house from previous waves. Good for me in a way because I get a better/bigger heat pump which means my hot water will be more stable but it means the price of my house was 2k more, that’s just 1 specific thing but the entire house had that. The price of timber went up so my floors and walls were more expensive. That isn’t an inflated market, that’s just worldwide shipping and supply issues.
The issues stem from the fact that construction of residential housing is limited because of all the bullshit paperwork required in doing it, and the monumental startup cost that goes to local councils.
No one can build houses because it’s just too expensive. But if you’re a foreign investor, no problem. Because that’s how our government wants it. The current young generation, I mean under 25s, will be unable to afford their own houses. It’s a disgrace