Originally Posted by Tomhez
Originally Posted by GrumpyPa
Originally Posted by Tomhez
Originally Posted by GrumpyPa
I'm not sure thenQXrV
When we got married in 1968 our new house was £4,250 being a 10% deposit (I think) and a mortgage 3 times my salary. That was all that was allowed.
A few years later the government removed that constraint, so many people took out mortgages far greater than 3 times their salary. That brought about gazumping and the consequent rapid inflation of house prices.


I am afraid you are as far out of touch as it is possible to be if you think the housing shortage is overstated.

I am a landlord. On the rare occasion that I advertise a property (most are let to friends/family of existing tenants) i will receive 50 requests for a viewing within 24 hours.
I have had people crying and begging for me to rent to them. I always give NHS workers first pick but otherwise i end up putting a handful of names into a hat.. Thats the lottery of housing.

Maybe where you are. Did you read post #772761 above?


I tend to use national figures to support an argument, not some localised over development. We by the way are in Taunton, definitely not an industrial or commercial hotspot. God only knows where everyone is working but we have thousands and thousands of new homes built or under construction.


There in lies the problem we face in our small mountain town outside of Denver, over 50% of the properties sold in the last 10 years (according to the local authorities data) have been bought by out of State entities (mainly Texas and California) mostly for cash. These properties are then either rented out at high rents, used for holiday rentals, or used as holiday homes, this has caused an over inflated property market and deprived the community of local affordable housing. This in turn has now created a whole number of community issues from School closures, lack of work force, businesses closing, gentrification of the community, decline of local services and a part time transient type of population who don't care about the town and it's environs. One thing is certain the Landlords are enjoying the revenues made.

Bruce
1964 4/4 Series V Comp (Megan)
1994 +8 (Maurice)
2013 M3W (Olga)