Quote:
Originally Posted by Ignitionnet
You could be right but they didn't have much choice.
The real pain is that this housing will likely be sucked up by BtL investors.
Facts for the day - a higher % of people between 50 and 65 own a second home than people under 35 who own at all.
Owner-occupation is dropping due to inability of people who actually want a home to live in to buy one.
I had a nice leaflet through the door for a Borough Council pleasing low-rise apartment building as they have banned anything over 3 floors - 2 beds start at only £349,995. Nice easy starter home that.
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To a certain extent that is correct with the price of a house ,but they didn't have spend every available penny on expensive renovations i.e conservatories or have 2 holidays abroad or buying 2 expensive cars every three years all of which was mostly on credit that was unsustainable if one of the wage earners lost a job or had to take a fall in wages