2024 Election thread

Get another example of the free market in action? 😉

The objections from people who already own a home is a major problem. Government after Government has promised reform to the system but then backtrack when it feels like there is opposition or even introduce other laws that are designed to give locals more of a voice to object such as localism. A new National Planning Policy Framework came out just before Christmas that seems to contradict itself in places from the commentary I've read on it, it is also a bit unclear how tough the Government will be on Councils that fail to set or hit housing supply targets. On the plus side I think it was Bracknell that got a bollocking before Christmas for lack of progress on their Local Plan that could ultimately see decisions taken out of the hands of the Council. A system where Councillors can block applications that fully comply with their own policies and against the recommendations of their own experts is seriously flawed. Open up more land and the value of the available land will drop which will help reduce costs. The only way to get more housing (open market or social) is to get this system fixed and then to get far more genuinely affordable housing built whether through the public sector or not-for-profit organisations.

We'll also need to get far more tradespeople trained up but since the mid 1990s there has been far too much emphasis on young people going to University and getting a degree that may or may not be relevant to their future and very little into training people in non-academic industries.

It is an issue around the globe but there are also places such as Italy where they are virtually giving away housing (albeit that needs renovation) to encourage younger people to their area.

Posting charts and whining doesn't help either.

The laws of supply and demand apply to housing as well: I'm sure you understand that as you've posted graphs on that sort of thing before. Ignoring the demand side is not a sensible way to solve the issues.

I wouldn't. My village is going to double in size from 2015 to 2025 and become a town. No objections.

Note that the "affordable" ones are still 10x salary, and the vast majority are not "affordable".

Ditto Exeter. My only gripe is that the Exeter boundaries need to change to include all the new developments within Exeter City Council, rather than at the fringes of Teignbridge & East Devon, and that there's more/better provision for people to get into the city centre without cars.

My radical solution is to build loads of houses on green space if necessary and then start demolishig the ancient housing stock to create new green spaces. Prime for demolition would be all those large detahed houses in big plots that were popular in the late 19th / early 20th century, replace them with lots of public open spaces and denser, more energy efficient modern housing stock. You could probably double the housing in some of the Home Counties whilst ending up with the same amount of green space after a transion period. I don't think I'd get elected on that policy though.

We also need a huge increase in infrastrcuture alongside new housing. It's essential that people can undertake their lives with minimal reliance on private cars whether that is having digital infrastructure to improve remote working or significantly increased public or active travel options.

Unfortunately it's a pipe dream and the best we'll get in some tinkering to slightly increase housing provision.

This is broadly what I think.

I think I probably fit exactly into RC's idea of a "Boomer". I'm 58, have paid my mortgage off and have two daughters in their 20s and 30s. I make no bones about it, compared to the younger generation of today, I have been fortunate to earn what I earn(ed) in the area I live in in the time that I did.

My house is 4/5 bedrooms. I live in a village in Northamptonshire.

Should a house or houses of similar size be built inthe village, they would be priced at pretty much what my house is worth now. They would not be cheaper. In order for a meaningful drop in house prices to happen as a result of house building, we would need thousands and thousands of houses to be built all at once (in a couple of years) to "flood the market" and this is not possible.

Notwithstanding the buy-to-rent issue (which must be significant), I think one of the main problems is the amount of money that banks are willing or allowed to lend and over what period.

If I want to sell my house for £100,000 and someone can get a mortgage for £100,000, they will be able to buy my house. However, if there are people out there who, because the bank lends them 6 x rather than 5 x their salary, can borrow £120,000 who are also interested, my house suddenly becomes worth £120,000.

It has been a long time since I applied for a mortgage but when we did, we could borrow 3x my salary and 50% of my wife's. I have no idea what the limits are now but surely this has a bearing on house prices?

Again, if this lending adjustment were to happen overnight, I don't think it would have an immediate effect but it could be a more sustainable long term solution to house affordability than simply building houses to be sold at market value.

Eh?

There are loads of analyses like this Rick. Yes, you might have to drop down to the top 2%, but if prices are a lot lower, you end up better off.

There are loads of extremely good FS companies based all over the country. There really is no need to be based in London to have a really good job in FS. Then add in the hugely improved quality of life due to far shorter commute times etc, etc.

As suggested above, it really is just vanity being based in London to work in FS.

Also do people really need to be encouraged to move employer every couple of years? Though that said, I do know of people who have worked in FS out of Bristol who have probably changed employer 4 or 5 times in 15-20 years without moving from Bristol.