• BCobley posted a comment on ?The Housing crisis 1 year, 6 months ago

    ?The Housing crisis

    Hi, I searched Liams name as people had good things to say about his book. I do agree with his outlook on things. I like how he’s actually addressing the obvious flaw in Britain, although the housing crisis was set in motion well before Blair and Brown. Build more houses, alongside infrastructure maybe easier said than done but it is the solution especially if you want that nice leveling out Liam talks of. I’m self employed, I work on my own, I saved up a fair amount of money Im ready to get myself a do’er upper, I’ve done everything right and quite frankly I feel like Im being robbed of my hard earned money. I can barely afford myself a mortgage on a 2 bedroom house in a nice area round Portsmouth. I don’t have a partner or wealthy parents. I feel sorry for people that have family’s at my age(31) not on the ladder, They will not own a property and if they do the mortgage won’t be paid off until they retire. Ludicrously long and substantial mortgages.
    Liams right, Immigration didn’t cause the housing crisis. Without immigration we won’t have the work force to build the houses, we don’t have enough skilled labour as It is. DOUBLE EDGED SWORD. There are so many contributing factors to the hole we are in, the perfect storm. I do worry for people who have just brought houses like a friend of mine. Barely any deposit, 30year mortgage, over inflated price, low interest rate (The hook). Surely if banks keep lending huge amounts for property and land the pound will keep decreasing and the cost of living will soar meaning people have less money, more missed Mortgage, loan, finance repayments. I cannot help but think this isn’t going to level out smoothly, this could get really messy and its people close to me like my friends who have recently got themselves on the ladder that will pay for it. I don’t believe this is a fallacy or alarmist. I think houses are a sound investment for people who own multiple houses and rent them out, there is always someone who can rent, whether is cramming people it to hmos or family’s with healthy income. It does on the other hand seem a big risk for people with a huge Mortgage, hefty repayments and no financial cushion (savings for a rainy day.). The reward doesn’t justify the risk, but its a risk we have no choice but to take. Some of us don’t have the luxury of living with parents. Like Liam said, the people who would be on the ladder in there late 20’s are still at there parents or lining landlords pockets. Life isn’t as easy for recent generations as people like to make out. Equality is a huge problem, if you are born poor you are likely to stay poor. Other than this Im a positive person and enjoy my life best I can haha.