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No politician wants to be seen to actively cause property price decreases for obvious reasons. It's that simple.
Genuine question: Why is the concept of a young person living in rented accommodation so horrifying?
It seems to me like ownership is seen (by some people at least) as an irrevocable human right and that it is therefore horrendous to consider that somebody might spend some part of their lives financially incapable of claiming this sacred entitlement.
OK I accept there is the ongoing expenditure of renting compared with the long-term investment of ownership, but how bad is that really? Is it just a cultural sense of entitlement or is there more depth to this issue than I'm aware of?
I'm genuinely curious about this as I currently live in rented accommodation and certainly on my own I likely can't afford to purchase a home of equivalent size and quality to the one I currently inhabit as a tenant, but I don't feel in any way hard done by as a result of this, I just accept that that's the economic reality of the present times and so I make the best of what I've got. For what it's worth I am within the age group that this article concerns itself with.
Grateful for any enlightening responses, I'm well aware there's probably a whole host of related issues that I lack knowledge of in this regard.
It's not horrifying. The answer again is that it's all political (i.e. the opposition will always complain something is wrong with our housing system by pointing to unaffordable purchase prices (and the consequential supposed awfulness of people having to rent etc.) and the Government will never do anything that actively causes price decreases).
I remember people continuously saying in the period from 1998-2005 that house prices were far too high (and would fall/crash), but they continuously went up massively in that period (especially in the end boom bit 2005-2007).
Expensive, yes, out of control in London, possibly, but not out of control across the whole UK.
Edinburgh is not the cheapest UK market by any stretch, and yes the one/two bedroom flats have gone up in price and outpaced earnings, but there are still starter flats at the £130-£150k mark which ought not to be impossible for those who say end up with a reasonable university degree, certainly not if a couple.
There has been no time when everyone could afford to buy their own home that I can recall, back in the 1980s, when I bought my first property ,a large proportion of people my age did not buy, but there was still then a decent stock of council housing left to rent.
My son is 26, he left university at 22, he ought to have saved his first house deposit by sometime next year (I want his room) and will likely buy something in Edinburgh next year (If Brexit does not scare him abroad) , that will be with no support from us (I still have his sister who has returned to university to support) but with money he has saved re likely deposit/furnishing/legals etc
Here is a two bed across the park from our house, decent enough North Edinburgh area, o/o £140,000. On say £30,000 a year post university not that out of reach, for a couple each on £25,000 again likely affordable.
https://www.rightmove.co.uk/property-for-sale/property-67833226.html
I do accept property is more expensive, and building more would not be a bad idea, but the sob story of never being able to afford I keep hearing it is a tad overdone (except re London and SE etc).