Current Affairs Rishi Sunak

[mmmmsnouts]

Houses aren't expensive because of the costs involved in building them. They're expensive because not enough of them exist. The demand for houses, due both to a growing population and changing demographic trends like more people living alone, has far outstripped the available supply. That's why they're so expensive.

At least in America, they're also expensive because the developers building new ones build way too many fancy houses that a first-time buyer can't afford, because they make bigger profits. No one is serving the lower end of the market.

 

[JimmyJeffers]

Houses aren't expensive because of the costs involved in building them. They're expensive because not enough of them exist. The demand for houses, due both to a growing population and changing demographic trends like more people living alone, has far outstripped the available supply. That's why they're so expensive. The only reason we have speculators is because they're the only ones that can afford to buy.

You got any research links on this? Agree to an extent but there are certainly other variables involved.

On another note, have been reading that London has approximately 30 million square feet of unused office space. Would have thought there must be initiatives ongoing to change disused office space to housing? Working practices are only going to become more home based.

 

[NilSatisOptimum]

Singaporeans can live happily in high density, public housing because they are built to a high standard and are occupied by decent, honest , law abiding citizens. And better to rent off the state than individuals.

Singapore is one of the most desirable places to live in the world. We could learn a lot if we followed their principles...

It’s certainly a very clean and law abiding place to live, drug dealers don’t last long……

Singapore well known to hide the wealth of the Chinese political elite, least surprising posts ever made by you two. Money is amoral...lol

 

[Bruce Wayne]

You got any research links on this? Agree to an extent but there are certainly other variables involved.

On another note, have been reading that London has approximately 30 million square feet of unused office space. Would have thought there must be initiatives ongoing to change disused office space to housing? Working practices are only going to become more home based.

This covers things well

Why are UK house prices so high? - Economics Help

Why have UK house prices been rising much faster than inflation - impact of low interest rates, shortage of supply, rising demand, cost of renting, increased number of households.

www.economicshelp.org

 

[Mr. White]

lol Not by a long shot. Would rather live in Burnley.

Why would you rather live in Burnley than Singapore?

 

[JimmyJeffers]

Why’s he doing interviews with joke ham head Piers Morgan? What an embarrassing state of affairs.

 

[catcherintherye]

Houses aren't expensive because of the costs involved in building them. They're expensive because not enough of them exist. The demand for houses, due both to a growing population and changing demographic trends like more people living alone, has far outstripped the available supply. That's why they're so expensive. The only reason we have speculators is because they're the only ones that can afford to buy.

Bingo.

The bind the Conservatives are in too in nimbyism in their southern heartlands. People essentially watching houses built but not in their area. They have tried to address it by forcing planning on them, but this was backed away from with the old "let local planners decide" which basically equates to "you're not building in my area".

There is a slightly wider point here too, that the market just isnt incentivised to build the right type of houses in the right area. I know we can disagree on the use of market v state, but in this instance it is an example of the market being too short termism and narrow minded to serve the function that's required.

But yes, Labour should basically just build loads of houses. It would be hugely popular with the voters they need. And I say that as a newish* homeowner who will lose out from this, but it's the right thing to do.

 

[catcherintherye]

Singaporeans can live happily in high density, public housing because they are built to a high standard and are occupied by decent, honest , law abiding citizens. And better to rent off the state than individuals.

Singapore is one of the most desirable places to live in the world. We could learn a lot if we followed their principles...

The problem is it's a small country with culturally very different values. You couldn't replicate that here.

A bit like it's also hard to replicate what they do in Norway or whatever.

 

[Blue 1]

Singapore is a sterile, authoritarian hellhole. Absolutely hated it, couldn't leave quickly enough. Anyone holding it up as an example is a tool.

Nice food though.

 

[JimmyJeffers]

Singapore is a sterile, authoritarian hellhole. Absolutely hated it, couldn't leave quickly enough.

Nice food though.

That was my review as well. Can’t believe the tories are singing its praises. Beer is taxed through the roof and you can get fined for following through.

 

[peteblue]

Bingo.

The bind the Conservatives are in too in nimbyism in their southern heartlands. People essentially watching houses built but not in their area. They have tried to address it by forcing planning on them, but this was backed away from with the old "let local planners decide" which basically equates to "you're not building in my area".

There is a slightly wider point here too, that the market just isnt incentivised to build the right type of houses in the right area. I know we can disagree on the use of market v state, but in this instance it is an example of the market being too short termism and narrow minded to serve the function that's required.

But yes, Labour should basically just build loads of houses. It would be hugely popular with the voters they need. And I say that as a newish* homeowner who will lose out from this, but it's the right thing to do.

I live in the Midlands and tens of thousands of homes are being built and sold almost immediately. Around us every piece of land is getting built on. ….

 

[Mr. White]

The problem is it's a small country with culturally very different values. You couldn't replicate that here.

A bit like it's also hard to replicate what they do in Norway or whatever.

Singapore has conservative values. That's one of the main reasons why it is one of the safest, most desirable cities in the world to live. That's not hard to replicate. We used to have that here, but, the UK has moved away from that...

Remember when Sadiq Khan said that London is 'the safest global city in the world'... not even remotely accurate!!! It doesn't even scratch the surface as a safe global city!

Singapore, Hong Kong, Tokyo, Seoul, Dubai, Abu Dhabi etc. Safe, desirable places to live, and all primarily based on their societies having conservative values.

 

[Mr. White]

That was my review as well. Can’t believe the tories are singing its praises. Beer is taxed through the roof and you can get fined for following through.

A low crime society is worth praising...

 

[catcherintherye]

I live in the Midlands and tens of thousands of homes are being built and sold almost immediately. Around us every piece of land is getting built on. ….

That may be the case, but it's not reflexive of the entire country is it? We are not building enough houses.

 

[catcherintherye]

Singapore has conservative values. That's one of the main reasons why it is one of the safest, most desirable cities in the world to live. That's not hard to replicate. We used to have that here, but, the UK has moved away from that...

Remember when Sadiq Khan said that London is 'the safest global city in the world'... not even remotely accurate!!! It doesn't even scratch the surface as a safe global city!

Singapore, Hong Kong, Tokyo, Seoul, Dubai, Abu Dhabi etc. Safe, desirable places to live, and all primarily based on their societies having conservative values.

Well we have a country with a conservative government, and are riddled with crime. So frankly I'd rather we move away from conservative values, as it just seems to increase more crime.

From experience, countries with less conservative values seem to be safer. Scandinavia, Germany etc. So for me, we should do everything we can do move away from conservative values if we want less crime. But that's just what I want.

As for Singapore, it's a small Asian country, with an enduring finance system that is disproportionately large. I dont think we can replicate what they do.

As a final aside, Abu Dhabi, Qatar, Dubai etc are pretty awful places for lots of people. I wouldnt want to live in a society like that. I appreciate they are conservative societies, but that is a big problem for people in why they dont work, a bit like this country (in my view of course).