Reply to: Beckett tells first-time buyers: don’t delay

[expat]

demand != shortage

Lots of flats were put up were people don't want to live in flats (i.e. Leeds). The 'demand' was almost purely from BTLers.

Government policy is to encourage builders to build flats rather than houses, because the occupancy per acre is higher. This Government Policy was not arrived at by a consideration or survey of what people actually want to live in. "Government Policy" on many matters is not something that anybody can remember having voted for. And I don't just mean this government.

[thunderlizard]

When I saw the title of this thread, I thought it was probably talking about Margaret Beckett.


But I was really hoping it was referring to Sam Beckett off Quantum Leap, giving us the benefit of his hindsight in an attempt to put right what once went wrong etc.

[tim123]

I thought it was 30K, but maybe that was another one. There was some young lass not so many years ago who bought a spot she could only reach by a ladder. Can't remember what she paid for that one though.

There was one of these on Homes under the Hammer. It was in Mayfair somewhere.

They paid well over 100K for it and, because they had bought it unseen, were well pissed off. Until, that was, they discovered that they could rent it at 250pw.

tim

[ratewhore]

Can't remember which comedian said it but this is the best quote I've heard on Beckett:

She looks like a winner - a Grand National winner...

[ace00]

Nearly choked on my chocolate weetos when I seen that.

She should lay off the crack pipe.

I liked the opening paragraphs in the article:

IN A grey suburb peppered with dilapidated fast-food joints and bargain basement stores, the stucco cottage seems an unlikely residence for a cabinet minister.
But while the bric-a-brac, 1970s soft furnishings and kitsch little lamps that adorn Margaret Beckett’s home may not be to everyone’s taste, the place is spotlessly clean and cosy - and the owner clearly house proud.

For some reason it just sounds like the home of a little mentalist living in a Birmingham suburb, permanantly on the sick as they are just too stupid/mental to actually do a job. So pretty accurate then.
Foreign secretary - FFS

[Sysman]

Which year was it sold for £36k?

You sure its worth more than £36k now?

I thought it was 30K, but maybe that was another one. There was some young lass not so many years ago who bought a spot she could only reach by a ladder. Can't remember what she paid for that one though.

[BrilloPad]

It was a broom cupboard that was turned into a flat. It sold for £36,000 and overlooked Harrods.

You may laugh, but that 'flat' would be worth a lot more than £36,000 now!

Which year was it sold for £36k?

You sure its worth more than £36k now?

[swamp]

Wasn't there a "flat" in Knightsbridge that was turned into a broom cupboard in mid 90s and then turned back into a flat about 5 years ago?

How long before it becomes a broom cupboard again?

It was a broom cupboard that was turned into a flat. It sold for £36,000 and overlooked Harrods.

You may laugh, but that 'flat' would be worth a lot more than £36,000 now!

[BrilloPad]

Poor suckers, especially if conned into buying a "studio" flat. In the recessions of the early 80s and 90s, those things were unsaleable.

Wasn't there a "flat" in Knightsbridge that was turned into a broom cupboard in mid 90s and then turned back into a flat about 5 years ago?

How long before it becomes a broom cupboard again?

[Sysman]

http://www.timesonline.co.uk/tol/new...cle5537031.ece

She has just launched a shared-equity scheme to help first-time buyers purchase Barratt homes.

Poor suckers, especially if conned into buying a "studio" flat. In the recessions of the early 80s and 90s, those things were unsaleable.

[bobhope]

who the hell do these government ministers think they are to tell people to go out and buy overpriced property

Those government ministers with large BTL portfolios?

[centurian]

It's a sad, sad state when the whole economy requires an overpriced property sector in order to run.

I don't get why all the house builders have stopped construction, in some cases leaving homes half-finished. Granted, they bought the land at inflated prices but with the number of homes they shove in such as small plot they would still recoup their money several times over? Looks like they're cutting their nose off to spite their face to me.

It isn't just the land - the whole process of building and selling a house has become very expensive.

As the boom developed, virtually every cost rose to accommodate the extra cash sloshing around - materials, bricklayers, plasterers, carpenters, who can (could) earn more than IT contractors.

House builders were happy to pay this because they were still making a big profit anyway and if they kicked up too much of a fuss, they wouldn't get any workers/materials.

Now that the bottom has dropped out of the market, its still possible to make money building houses, but not at the kind of costs previously paid.

It should be quite possible to build a house for 40K - once everyone in the supply chain moderates their costs.

The best way of doing this is to stop building and wait for all the out of work bricklayers, plasterers, carpenters etc. to eat into their savings and then start begging for work at more realistic wages.


Lets just hope that ClientCo's don't start adopting the same approach to IT contractors.

[PM-Junkie]

who the hell do these government ministers think they are to tell people to go out and buy overpriced property

It could be worse - and indeed it was. Remember at one point this woman was our Foreign Secretary.

And I don't know about anyone else, but I found that DEEPLY embarrassing.

[BrilloPad]

who the hell do these government ministers think they are to tell people to go out and buy overpriced property

I remember the Sun doing a similar thing in early 1989.......

[contractor79]

who the hell do these government ministers think they are to tell people to go out and buy overpriced property