Re: house prices - always and forever upward?

On 28 Mar, 10:22, andrew....@xxxxxxxxxxxxxxxxxxxxxxx (Andrew
MacPherson) wrote:
spam8ti...@xxxxxxxxxxxxxxxxxxxxxx (Andy Pandy) wrote:
People in this country are too obsessed with
buying property

The problem now is that BTL (in particular IMO) has turned housing into
an asset rather than a home, and that is dangerous for society on far
more than just an economic level.

BTL is still only a small minority of the market.

When I bought my flat I did so because, despite the hassles and costs of
ownership) it was cheaper than renting. It's not much of a flat but it
was -- then -- a genuine first step on a genuine ladder. Now similar
flats are inflated into assets an no longer represent any kind of step
onto any kind of ladder.

Renting is nothing to be ashamed of, but until we get continental style
security for tenants, it remains undesirable.

De-regulation has provided a large increase in availability of rental
properties to meet demand. As for 'correction' it's already
happened:
look at rental yields. But the building frenzy in city centres is
continuing.
Mr Bigs are taking big bets

Of course, Mr Bigs sometimes bet the wrong way...






Andrew McP


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