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    Housing in Spain - property price crash.

    I've just been reading the newspaper in work;-) about the house price crash in Spain.

    The paper states that last year Spain built more houses (800,000) than the UK, Germany and France combined, and that there is now 1.7 houses per person!

    Why can't we build more houses here on existing built on land ie disused housing estates, factories etc which would then bring the housing price down so more people can get on the property ladder?

    Please discuss....

    10 Comments

    Admin

    There definitely needs to be something done. In our area, there is a lack of high paid jobs other than tradespersons, but the property prices are among the highest in the county. We were lucky to already have a flat each when we met and bought our house before the property market boomed. It's now worth three times what we paid for it 4 1/2 yrs ago and we'd never have been able to afford it if we were starting out now.

    small matter of the Economy!

    If LOTS more people could afford to get on the property ladder, there would be more people taking out mortgages, if more people take out mortgages, then public spending/lending increases. Which leads to higher inflation, the Bank of England then increases the base rate to counteract it. People then can't afford their mortgages, which leads to repossessions and recession - the mid 80's all over again.


    I think that's everything! (although I will edit heavily later on if anything needs correcting!!)

    Admin

    jayhab

    small matter of the Economy!If LOTS more people could afford to get on … small matter of the Economy!If LOTS more people could afford to get on the property ladder, there would be more people taking out mortgages, if more people take out mortgages, then public spending/lending increases. Which leads to higher inflation, the Bank of England then increases the base rate to counteract it. People then can't afford their mortgages, which leads to repossessions and recession - the mid 80's all over again.I think that's everything! (although I will edit heavily later on if anything needs correcting!!)



    You're right but there needs to be some middle ground. Times are changing and whereas fifty years ago, people used to buy their first homes together, - now there tends to be a lot of singles / career persons struggling to even get a mortgage, never mind keep up repayments.

    The problem we have today is that people are living longer, so therefore less housing stock available. This coupled with the fact that most affordable housing is snapped up by greedy landlords means that the cheapest homes on the market are usually too expensive for anyone to afford.
    Greedy Landlords = Bad.

    Original Poster

    Why do councils allow empty houses to fall into disrepair, why not get a new tenant in straight away?

    Why can't empty factories be knocked down and houses built on?

    Why can't there be a law to stop btl's owning too many houses?

    It seems like the entire city of Lancaster is being bought up by greedy landlords. With prices so high I can't get a foot in the door, most people I know are going halves on the mortgage with their brothers as it's the only way anyone can afford it. I don't really have the option as my sister's based down south and my brother is at uni in Hull.

    house prices are really high around here and what we can get mortgage wise doesnt cover them, its so unfair, and the longer we wait saving up our deposit the more theyl rise

    Original Poster

    So why don't the goverment build more cheaper housing?

    Ditto

    So why don't the goverment build more cheaper housing?


    because the goverment doesnt care:-(

    For the government to build any housing, would be under local authority shared ownership programs, which unless your local authority is feeling a bit flushed, still costs money.
    Why don't housing companies build cheaper houses? - why would they when they can cram as many houses as possible onto a site, build them cheaply, call them luxury and charge full-whack for them!

    It would be easier to ask people to die younger in order to free up houses!
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