Saturday , May 18 2024
Home / Mike Norman Economics / Josh Ryan-Collins – Looking forward: housing should be more than a financial asset

Josh Ryan-Collins – Looking forward: housing should be more than a financial asset

Summary:
It looks like the British Conservative Party is beginning to realize that there are no votes to be had in high house prices anymore.The over 50's vote predominantly Tory believing that high house prices had made them rich. Yes, on paper, but can they ever realize the money because where are they to live when they sell their home. And every time they moved to the housing ladder they became clobbered with a huge mortgage again making them poor causing them to go without and work excessive hours. What a life? Well, I absolutely hated the high house price game because it caused new to spend too much time at work when I loved my leisure time.  There are reasons for optimism when it comes to affordable housing in the UK, despite the state of crisis that currently engulfs the sector. For the

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Peter Radford writes Lost opportunities?

Joel Eissenberg writes Oh, Elon!

Angry Bear writes Role Of Medicaid Accountable Care Orgs In Maternal Health

NewDealdemocrat writes April consumer prices: still an interplay of gas and house prices, with a side helping of motor vehicle insurance

It looks like the British Conservative Party is beginning to realize that there are no votes to be had in high house prices anymore.

The over 50's vote predominantly Tory believing that high house prices had made them rich. Yes, on paper, but can they ever realize the money because where are they to live when they sell their home. And every time they moved to the housing ladder they became clobbered with a huge mortgage again making them poor causing them to go without and work excessive hours. What a life?

Well, I absolutely hated the high house price game because it caused new to spend too much time at work when I loved my leisure time. 

There are reasons for optimism when it comes to affordable housing in the UK, despite the state of crisis that currently engulfs the sector. For the first time in decades, both major political parties seem to have realised that the housing market is fundamentally broken and that it is a domestic political priority.

The Conservative Party has finally accepted that not everyone can own a home, and that the provision of decent-quality rental and public housing is a necessity. The decision to finally lift the cap on local authorities’ ability to borrow to invest in new development is perhaps the biggest sign of this change, of course, although much more investment from central government is likely to be needed.

Equally promising are signs that the land problem is being better understood, with Labour investigating a serious property wealth tax, and Sir Oliver Letwin’s review of land value capture pulling no punches. Moreover, as the level of homeownership falls, it is likely there will soon be an electoral majority in favour of reducing house prices.

Social Housing


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *