How to make property more affordable for the young?

[VectraMan]

PS

Plenty of jobs and affordable homes in places like New Zealand. If young people can't see the opportunity and the life they could live there, they deserve a £400K debt round their necks for a bedsit in Luton.

I'm told NZ properties are sky rocketing thanks to overseas investors buying everything up. Also been told there's bugger all jobs, but this is second hand so may be talking tulip.

Half the problem is all the houses are being hogged by people now living too long. We need a good middle class disease.

[DimPrawn]

The government cound BTL lending as lending to business, this way, by getting the wealthy to buy up the housing stock they can tell the world our economy is booming and business is booming.

We just need more gullible young people to rent them. Maybe we could talk about cutting immigration but allow it to reach the highest annual level ever? There's an idea for more "business" lending and growth....

[SimonMac]

Long and short of it is there isn't the supply to meet the demand, absoultly no other reason for house prices, we are a small over populated country in key area's. We could build 100,000 new hows in the arse end of no where dirt cheap, but without the jobs to go with them its pointless.

Also people need to realise owning a house is not a right, Germany has the right model, very few people own their own houses and rents are kept reasonable.

[BrilloPad]

PS

Plenty of jobs and affordable homes in places like New Zealand. If young people can't see the opportunity and the life they could live there, they deserve a £400K debt round their necks for a bedsit in Luton.

This is what I have told my children. Get a career in which they can emigrate. Medical seems popular. This country is doomed - unless UKIP are elected in 2020.

At the moment the can has been kicked down the road a long way - but much further to go.

One day people will figure out there is no point in saving and just borrow to go bankrupt.

[BrilloPad]

Long and short of it is there isn't the supply to meet the demand, absoultly no other reason for house prices, we are a small over populated country in key area's. We could build 100,000 new hows in the arse end of no where dirt cheap, but without the jobs to go with them its pointless.

Also people need to realise owning a house is not a right, Germany has the right model, very few people own their own houses and rents are kept reasonable.

To remove pressure on London, I think Royalty and Government should vacate the capital.

[PurpleGorilla]

I would tighten the lending criteria.

20% deposit
3.5 x single income
2.5 x double income
3 x contract value

This would weaken the demand side.

I would also.

Introduce a Tax on BTL income
Introduce a BTL stamp duty uplift
Massively increase second home council tax
Introduce quick compulsory purchase of empty properties.

[BrilloPad]

I would tighten the lending criteria.

20% deposit
3.5 x single income
2.5 x double income
3 x contract value

This would weaken the demand side.

I would also.

Introduce a Tax on BTL income
Introduce a BTL stamp duty uplift
Massively increase second home council tax
Introduce quick compulsory purchase of empty properties.

The lending criteria would hit the young hardest.

However I agree with all the others.

[PurpleGorilla]

The lending criteria would hit the young hardest.

However I agree with all the others.

Until prices fall 40% - then I think they will be in a much better spot.

[Ticktock]

I would tighten the lending criteria.

20% deposit
3.5 x single income
2.5 x double income
3 x contract value

This would weaken the demand side.

I would also.

Introduce a Tax on BTL income
Introduce a BTL stamp duty uplift
Massively increase second home council tax
Introduce quick compulsory purchase of empty properties.

The focus for lenders, and to an extent the government, since at least 2000ish has been to allow people to borrow more and more money one way or another, which keeps prices going up. If the supply of money is restricted it would stop people being able to buy (beyond their means) in the short-term, would probably bring prices down to more reasonable* levels, and then the young would be able to afford to buy again.

*By reasonable I mean a link between house prices and wages, such as the 3.5x PG mentioned.

[DimPrawn]

If we made the min wage £97 per hour, everyone could afford a house.

Simples.