A million mauve monkeys

[DimPrawn]

Millions give up on home ownership as house prices soar - Telegraph

Middle class families are giving up their dreams of home ownership as soaring costs and a lack of supply price millions out of the property market, according to Bank of England research.

Looking at the comments, it seems to be a mix of angry BTL owners, seething at Osborne, and lots of sneering from the clever ones that have emigrated and bought a nice big house overseas.

[AtW]

Might be still renting this time next year

[DimPrawn]

Might be still renting this time next year

Give up on the Birmingham "dream". Move the company overseas to a tax haven.

[DimPrawn]

Take your pick.

[AtW]

It is too late for me, son.

[PurpleGorilla]

In other news, iPhone sales are up.

Yawn.

[BrilloPad]

There are some good comments on there :-

Why is housing always spoken of as a supply problem, when actually it's a demand problem?
Mass migration + banks controlling interest rates = record low rates, massive demand huge prices.
Where does the money go? The banks. Get it yet DT?

No mention of foreign ownership of property. But a good start.

Of course, the young don't vote. So fook em.

[SueEllen]

Foreign wealthy buyers don't need mortgages, they just need an investment vehicle for their money.

The fact that lots of developments are being build for them means the British wealthy who would have properties in those areas have brought properties that traditionally the lower middle and working classes would buy.

This has a knock on effect displacing everyone including immigrants around the country in locations where there are jobs.

However foreign wealthy buyers aren't immigrants as they don't live in the UK and are happy to let their empty properties rot.

[PurpleGorilla]

A million mauve monkeys

Foreign wealthy buyers don't need mortgages, they just need an investment vehicle for their money.

The fact that lots of developments are being build for them means the British wealthy who would have properties in those areas have brought properties that traditionally the lower middle and working classes would buy.

This has a knock on effect displacing everyone including immigrants around the country in locations where there are jobs.

However foreign wealthy buyers aren't immigrants as they don't live in the UK and are happy to let their empty properties rot.

[Flashman]

There are some good comments on there :-

Why is housing always spoken of as a supply problem, when actually it's a demand problem?
Mass migration + banks controlling interest rates = record low rates, massive demand huge prices.
Where does the money go? The banks. Get it yet DT?

No mention of foreign ownership of property. But a good start.

Of course, the young don't vote. So fook em.

Suck people in on massive mortgages at low rates and then you've got 'em by the short and curlies for life

Of course, the young don't vote. So fook em.

Signing up for £30,000 student debts without a care in the world. Everyone's doing it so it can't be wrong!