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BBC 6 o'clock News



Doc Lynam

I hate the Daily Mail
Jun 19, 2011
7,183
The rich Chinese are taking money out of china because the banks aren't stable and investing it in property abroad. London being a hot spot with the estate agents in china saying and i quote "its not just London, Brighton for example is up 700%!"

What sort of chance do people who have grown up in Brighton have of owning property in THEIR community when practises like this are happening?

http://www.bbc.co.uk/news/world-asia-china-35957228
 
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studio150

Well-known member
Jul 30, 2011
29,524
On the Border
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere
 

Bold Seagull

strong and stable with me, or...
Mar 18, 2010
29,716
Hove
The rich Chinese are taking money out of china because the banks aren't stable and investing it in property abroad. London being a hot spot with the estate agents in china saying and i quote "its not just London, Brighton for example is up 700%!"

What sort of chance do people who have grown up in Brighton have of owning property in THEIR community when practises like this are happening?

http://www.bbc.co.uk/news/world-asia-china-35957228

Makes a change from the Russians I suppose.
 

Doc Lynam

I hate the Daily Mail
Jun 19, 2011
7,183
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

It just seems fundamentally wrong that people who live on the other side of the world relating to any country (i.e. us to China) are able to inflate the prices for investment purposes, pricing the living community out. And who owns the rented properties if we go down that ave?
 

Gwylan

Well-known member
Jul 5, 2003
31,320
Uffern
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

It's true that renting is normal practice in most other European countries but they also have long-term rents and a lot of protection for tenants. You also find that people typically pay about 20 to 25% of the income on accommodation, not the 50 to 60% that we're beginning to see in London (and the 40% that we're seeing elsewhere)
 


Bold Seagull

strong and stable with me, or...
Mar 18, 2010
29,716
Hove
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

We're 37th on a list of home ownership rates...where is this renting society we are following elsewhere?

https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate
 

Rowdey

Well-known member
Jul 7, 2003
2,528
Herne Hill
I've got family in Vancouver, and the exact same thing is happening over there.
 


swindonseagull

Well-known member
Aug 6, 2003
9,207
Swindon, but used to be Manila
My wife is from The Philippines, she has dual nationality so can own land and a house there (and does), As a British passport holder I am not allowed to own any land or House in Philippines, ( condominiums are different ) There is a very complicated way of setting up a business to own land,
When working in Manila I asked why and was told that it was to stop foreigners buying up all the land and making it unaffordable for Filipinos.
 

French Seagull

Active member
Jul 30, 2014
608
France
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

I can remember interest rates shooting up to over 13% which created tens of thousands of repossessions.

It just seems fundamentally wrong that people who live on the other side of the world relating to any country (i.e. us to China) are able to inflate the prices for investment purposes, pricing the living community out. And who owns the rented properties if we go down that ave?

Absolutely, we need to object to the current housing legislation they are trying to push through with votes at silly O'clock and talking it out. Conservative MPs have voted to reject a proposed rule that would have required private landlords to make their homes “fit for human habitation”. http://www.independent.co.uk/news/u...-homes-fit-for-human-habitation-a6809691.html It goes before the Lords soon.

It might help if society was more proactive with house building keeping more for local people and for part rent/own, some for rent (which was the way until this is now being reversed) and society (big business) was not allowed to be not so money grabbing. House prices will only get worse if the Government forces social housing to be sold off on the cheap (which they are doing) with the result that more and more young people will have to rent privately unfortunately and perhaps never own, which could include many of our own children.

This will create more long term social problems, inadequate, cramped, poor conditions can cause family conflict and poor health.

The new housing bill could spell the end of social housing as we know it. Our last chance to restrain the housing bill is with the Lords: http://www.theguardian.com/housing-network/2016/jan/26/housing-planning-bill-house-of-lords
 

darkwolf666

Well-known member
Nov 8, 2015
7,575
Sittingbourne, Kent
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

Nothing wrong with a renting society when you have fixed long term rents, not short term 6 month rents that give no stability to families and prices go up disproportionately to inflation... that isn't the market model that is practised elsewhere.
 


sir albion

New member
Jan 6, 2007
13,055
SWINDON
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere
This is the future now and things will only get worse
 

sir albion

New member
Jan 6, 2007
13,055
SWINDON
It just seems fundamentally wrong that people who live on the other side of the world relating to any country (i.e. us to China) are able to inflate the prices for investment purposes, pricing the living community out. And who owns the rented properties if we go down that ave?
Probably money laundering :)
 

sir albion

New member
Jan 6, 2007
13,055
SWINDON
Nothing wrong with a renting society when you have fixed long term rents, not short term 6 month rents that give no stability to families and prices go up disproportionately to inflation... that isn't the market model that is practised elsewhere.
Fixed long term rent? That's not really possible is it and supply and demand means they don't want fixed long term contracts when the bloody rents are going up and up grrrrrr.
 


Harry Wilson's tackle

Harry Wilson's Tackle
NSC Licker Extraordinaire
Oct 8, 2003
49,057
Faversham
It just seems fundamentally wrong that people who live on the other side of the world relating to any country (i.e. us to China) are able to inflate the prices for investment purposes, pricing the living community out. And who owns the rented properties if we go down that ave?

That's capitalism, mate. The UK could impose some sort of arbitrary tariff on foreign investors, but that would be a declaration of war in the eyes of those who would 'invest'. There would be reprisals. Our hand is too small to enter a poker game.

The only country I can think of that took one look at the world and said 'no thanks' was Hoxa's Albania. The results was that nobody owned a car.

In order to 'play' the global free market you need to be a massive trading block, like China, the US and, er, the EU. Not saying that the EU knows how to function as a massive trading block, but the bottom line is that if you decide to risk a shoot out, you need guns. Effing great big ones.
 

el punal

Well-known member
It just seems fundamentally wrong that people who live on the other side of the world relating to any country (i.e. us to China) are able to inflate the prices for investment purposes, pricing the living community out. And who owns the rented properties if we go down that ave?

Haven't we, the British, done the same with properties in Spain for example?
 

French Seagull

Active member
Jul 30, 2014
608
France
That's capitalism, mate. The UK could impose some sort of arbitrary tariff on foreign investors, but that would be a declaration of war in the eyes of those who would 'invest'. There would be reprisals. Our hand is too small to enter a poker game.

The only country I can think of that took one look at the world and said 'no thanks' was Hoxa's Albania. The results was that nobody owned a car.

In order to 'play' the global free market you need to be a massive trading block, like China, the US and, er, the EU. Not saying that the EU knows how to function as a massive trading block, but the bottom line is that if you decide to risk a shoot out, you need guns. Effing great big ones.

Housing associations can have properties only available for 'local' families - oh the government wants them sold off so a few can make a fortune by over mortgaging! (then the properties are gone forever)
 

Paul Reids Sock

Well-known member
Nov 3, 2004
4,458
Paul Reids boot
Haven't we, the British, done the same with properties in Spain for example?

Finally! I was scrolling through waiting for someone to post this.

We have done exactly this for years not only in other countries but within our own.

I can't remember where it was but think it was the Lake District where I went to a town that was basically dead during the week and winter because most the homes are second homes to the 'city types'. The prices for other people that lived there went up so much that they cashed in and moved out.
 


Diego Napier

Well-known member
Mar 27, 2010
4,416
We live in a free market society where prices are determined by supply and demand. Given the historically low interest rates for savers it is no suprise that money is going into property whether its the Chinese or local weathy investors.
It may be time to forgo the dream of everyone owning their own home and accept and embrace a renting society as happens elsewhere

But elsewhere there aren't sky-high rents.
 

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