Friday 31 May 2024

House prices

Dumfries area - where the top people live.

'In the UK, the average house price reached £264,249 this month, compared to £261,962 in April...'


At 1 June 2024 at 06:10 , Anonymous Anonymous said...

To understand house prices rising in a troubled economy -

A huge amount of purchases are via 'private equity', i.e., billionaires and such using 'investment' funds to buy up property, all-cash quick purchases ... this fuelling price increases, and pricing lower middle and working classes out of the market

The majority of house purchases may be like this, in the longer term few actual 'people' will own homes

Re the UK this is from 2021 but the trend applies today -

"Analysts at investment bank Berenberg recently identified that more than three-quarters of the UK real estate deals struck or mooted in 2021 have involved private equity"

And then there are millions of migrants arriving, needing housing, and yet there are few programmes to build housing for these millions, adding to price pressures

Young people without family money, or without having a job in the top 10% of incomes, are in great difficulty trying to buy a home ... the contract between generations has been broken


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