Oldjohnw wrote:No doubt immigration has some impact on housing but the sheer numbers of homes taken out of use (Air bmb, second homes, holiday let's) plus a lack of social housing with a rising population is the main reason for shortage of housing
Too much money chasing too few houses and too easy loans causes prices to rise, especially when accompanied by daft government policies and a London-centric economy.
I think one of the biggest changes since when I wer a lad is women working.
Whilst they worked back then mostly they did part time, low paid work to earn a few shekels whilst looking after the kids.
House prices were mainly set around that scenario.
Now jobs are far more evenly split, it's far from uncommon for a household to have two well paying jobs and consequently more money for houses.
This also adds inflationary pressure on house prices.
Overall it's a huge pot of ingredients that all add to the inflationary pressure of houses.
Then lets not forget expectation.
In my last house (modern 4 bed detached, double garage) a friend from work called round who was currently looking for a house. He was aghast at how I could afford such a house when he was 'forced' to be looking at 3 bed semi's and even then reckoned it was a struggle.
Trouble was he was over 20 years younger than me, 20 years prior to that I didn't own a house and my first house was a 3 bed semi that I struggled to pay the mortgage on too.
I told him this but I don't think it helped, I think logically he could see the sense but morally he saw himself as having a similar job to mine (albeit a jnr) so felt he should have the same benefits.