Housing

[Uncle Wally One Ball]

I bought a house just before the crash in 2008, I lost £35k on it when I sold 10 years later, I found out the builder had got someone to overvalue them for a brown envelope years later, maybe some sort of price control in areas can be done somehow, a house in oldham is not worth £250k no one but rich landlords is affording that, a reasonable price although still expensive is £150k, that’s still 5 times the average wage.

Everyone lost money on a house they bought in 2008 if they sold it 10 years later, that happened anywhere and everywhere in the world.

 

[Uncle Wally One Ball]

Then if that continues at that rate unless great swathes of land become available where does it stop price wise. Paying nearly £8/9k for a bathroom just boggles my mind, I can’t see where they get these numbers from. It will get to the pint like it is in the USA where huge conglomerates will just buy up everything buy outbidding your average person.

£5k for my 3 x 3 bathroom on mates rates with pretty shit stuff offered actually. Rather save up and have nicer fittings and finish. Cant get any nice job done now for less because who works for less than £200 a day if a tradesman? Its their job. Alternative is get a Nesbitt in for £50 a day cash in hand and deal with all the problems later. And who will do ot for £50 a day now we have turfed all the Eastern Euro workers out after Brexit? Which worked 2 ways as people are now realising.

 

[ChicagoBlue]

Not just housing has to be built they’ve tried to build about 600 houses on green belt near me and it’s been knocked back, no extra schools, doctors, dentist’s included in this so say there’s 400 kids move into those new houses, where they going to school, no nhs dentist or doctors available. We have pretty bad drainage in the area that would be only get worse, it’s all a bloody nightmare

In the States, where the profit motive is great, the old “If you build it, they will come!” works very well…especially when you build a retail center and small professional office building!

In the UK, that might require the builder to do that, or require the NHS to build a professional medical office building in that area.

Places like grocers, fast food, petrol stations, etc… have to be allowed some commercial zoning, etc, etc…

It really does take a village!

 

[ChicagoBlue]

Everyone lost money on a house they bought in 2008 if they sold it 10 years later, that happened anywhere and everywhere in the world.

Indeed!

I bought in 2004. It took until the 2019 COVID problems for the value of my home purchase price (plus needed updating) to be exceeded.

 

[Blue Maverick]

Everyone lost money on a house they bought in 2008 if they sold it 10 years later, that happened anywhere and everywhere in the world.

I don’t know what your point is I was saying that it was overvalued as well, my old house never returned to that value even 17 years later,granted the area is worse now but it’s probably at the level it should’ve been, which was my point they are building houses in similar areas that are way overpriced now.