House selling prices

[Dunners]

Oh, and let's not forget RAAC.

[StillSpike]

So is the expectation that owner-occupiers will have to sell up because they can't afford maintenance charges etc ? So there'll be lots of flats coming on the market (driving prices down) but with big liabilities in terms of maintenance?

Or what ?

Edit (this was a Qu from your 3:47 post)

[Admin]

Oh I’d forgotten RAAC. Huge amounts of LA stock is affected. Many LB’s are still getting round to identifying it - another ticking time bomb that’ll likely be kicked down the road as far as possible.

Agree that we are utterly f*cked.

[Admin]

So is the expectation that owner-occupiers will have to sell up because they can't afford maintenance charges etc ? So there'll be lots of flats coming on the market (driving prices down) but with big liabilities in terms of maintenance?

Or what ?

Edit (this was a Qu from your 3:47 post)

Dunners probably better placed to answer this but yes, I think so. Which will probably leave lenders with the liabilities. My guess is that eventually only larger institutions will be left as potential owners on the basis they can rent them, cut the maintenance budgets to the bone and continue offering sh*t quality housing to those most in need.

But then again I’m a fat cynic.

[Dunners]

So is the expectation that owner-occupiers will have to sell up because they can't afford maintenance charges etc ? So there'll be lots of flats coming on the market (driving prices down) but with big liabilities in terms of maintenance?

Or what ?

Edit (this was a Qu from your 3:47 post)

Possibly, however I can foresee an increasing number of homes becoming unmortgageable. Therefore, as FTC suggests, it's likely going to be cash buyers only, seeking to exploit the predicament of the current homeowner. But those buyers will also be having to weigh up the future liabilities or, as I suspect, run the building into the ground until the local authority has to step-in and force decommissioning.

Also, see all those shiny new high rise blocks in city centres? Most of those will hit this crisis point by the time they are 45 years old.

[Max B Gold]

It's sounds like there is only one word appropriate to describe this housing crisis and that word is shambles. Its an utter shambles. No other way to describe it.

Question is, who is to blame?

[Hoover Attack]

So proper houses without any problems will be in greater demand and see their prices going through the roof? Nice.

[Dunners]

It's sounds like there is only one word appropriate to describe this housing crisis and that word is shambles. Its an utter shambles. No other way to describe it.

Question is, who is to blame?

Thatcher government introduced deregulation of building control.

Major government granted new private providers immunity from prosecution.

Successive governments have failed to reverse this or invest in national housing stock and civic centres, regulate building finances, or introduce necessary law reform.

Firms have successfully lobbied for approval of dangerous materials in construction.

Shareholders have turned a blind eye and enjoyed healthy ROI.

Banks have turned a blind eye for as long as asset values continued to be inflated.

It's systematic failure. And it's all coming to a head this decade. Just as the country was f*cked anyway.

[Hoover Attack]

This thatcher sounds like she’s got a lot to answer for.

[Dunners]

She does. But, to be fair, the post-WW2 Labour government do too. They introduced steel reinforced concrete, RAAC, and some other construction materials and methods. Quick and cheap to build, but an absolute nightmare now.

If you want to know what this looks like when it goes wrong, go to YouTube and watch the Genoa bridge collapse. That's coming to a town centre, motorway flyover, railway tunnel, school etc, near you soon.

[Max B Gold]

She does. But, to be fair, the post-WW2 Labour government do too. They introduced steel reinforced concrete, RAAC, and some other construction materials and methods. Quick and cheap to build, but an absolute nightmare now.

If you want to know what this looks like when it goes wrong, go to YouTube and watch the Genoa bridge collapse. That's coming to a town centre, motorway flyover, railway tunnel, school etc, near you soon.

The post WW2 Labour govt did not introduce those building materials. The construction companies did. You've gone all Doughnutty on us.

[Orientnil]

Dunno about this. Dad always said 'put your money into property'. His advice has served me well since the sixties. But now, with possible population decline, the day may come when there's a housing surplus. If, one day, there were to be a decline in the market, I would fear for the consequences.

[Yanzi Gravy]

Dunno about this. Dad always said 'put your money into property'. His advice has served me well since the sixties. But now, with possible population decline, the day may come when there's a housing surplus. If, one day, there were to be a decline in the market, I would fear for the consequences.

Population decline? Are you joking? It is almost impossible to find a property to rent in Leyton. At least ten applicants for every vacant flat available.