‘The market is dead’: why aren’t flats in England selling?

Comments

• Alcoholicorn@mander.xyz ⁨1⁩ ⁨day⁩ ago

  What if you lowered prices further?

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  • blackn1ght@feddit.uk ⁨1⁩ ⁨day⁩ ago

    That’s ultimately the answer and how the game is supposed to work. Lower the prices enough and someone will buy.

    But people don’t want to then sell their property for £50k+ less than they paid for it, and I can understand their reluctance. So rather than just accept a lower price, they take the property off the market and just wait things out. Only those desperate enough will lower their price significantly, but I’d imagine those people would be a rarity.

    So now you end up with house prices that don’t really fall in any meaningful way and social mobility is hurt, which has wider implications.

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    • plyth@feddit.org ⁨1⁩ ⁨day⁩ ago

      How many properties are financed by banks? At some point, people are forced to sell.

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    • fizzle@quokk.au ⁨1⁩ ⁨day⁩ ago

      That’s not really how markets work.

      Reducing your price helps you sell in a market with many buyers and sellers.

      However, if there are very few buyers, then you have to reduce your price unreasonably.

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  • PRIMEcavitationfetishist@quokk.au ⁨1⁩ ⁨day⁩ ago

    But that would hurt the market!

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• echodot@feddit.uk ⁨13⁩ ⁨hours⁩ ago

  Well if it’s anything like the tower block in my small town it’s because it’s got bloody flammable cladding on it no one seems to want to do anything about taking it off.

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• RobotToaster@mander.xyz ⁨1⁩ ⁨day⁩ ago

  People are realising how much of a scam leaseholds are?

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  • FarceOfWill@infosec.pub ⁨1⁩ ⁨day⁩ ago

    I think many will be waiting for the planned change to leasehold coming this government.

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  • DakRalter@thelemmy.club ⁨1⁩ ⁨day⁩ ago

    I still don’t get how leaseholds could ever be a thing. Isn’t it just “buying isn’t owning”?

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    • echodot@feddit.uk ⁨13⁩ ⁨hours⁩ ago

      My grandparents had a lease hold on their flat and the least hold was for 99 years. I doubt the building will still exist in 99 years so the entire thing is just a stupid concept.

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• thorhop@sopuli.xyz ⁨1⁩ ⁨day⁩ ago

  Oh, I dont know… Maybe the broken economy, the rise in ethno nationalism, right wing populism, overpricing because avarice, stupid investments and purile denial?

  But that may change if Count Binface wins in Clackston. He’ll build at least 1 affordable house, which is more than these property developers ever have done.

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  • Buckshot@programming.dev ⁨1⁩ ⁨day⁩ ago

    Affordable houses are a scam as well. Most people think it means, a house, that is affordable.

    Instead it’s usually a shared ownership thing so it’s still stupidly priced but you can buy 25% of it.

    New development near us the affordable houses were 25% of a 2 bed semi for £100k.

    Then you get to pay £800/month rent on the other 75% while being 100% responsible for all the costs and maintenance.

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  • fizzle@quokk.au ⁨1⁩ ⁨day⁩ ago

    He’s not gonna win though right?

    I mean he’s already achieved the intended effect, but he’s not going to get enough votes to win the election.

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  • PRIMEcavitationfetishist@quokk.au ⁨1⁩ ⁨day⁩ ago

    You’re unironically in favor of voting for a bit, but still confident that having a state us the right thing to do.

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    • yermaw@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

      I dont think the people whod vote for him are angry at the system, they’re angry at their choices.

      We dont hate the bus, we hate the fact that The Joker is about to get behind the wheel. I want a real bus driver, who knows the route and has passed the relevant exams, but that doesnt seem to be an option for some reason.

      Bin it is.

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• gusgalarnyk@lemmy.world ⁨1⁩ ⁨day⁩ ago

  Housing shouldn’t be a market. Tax wealth, not work, and ban landlords.

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• HubertManne@piefed.social ⁨1⁩ ⁨day⁩ ago

  peanut gallery here from the states but over here I notice that people buy housing if they can afford it. I know its counter intuitive but its true.

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• fizzle@quokk.au ⁨1⁩ ⁨day⁩ ago

  Do people want to live in England?

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  • Tomato666@lemmy.sdf.org ⁨1⁩ ⁨day⁩ ago

    Yes, it’s a lovely green island with lush vegetation.

    Looks outside at brown dead grass everywhere… Oh!

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• Abrinoxus@lemmy.today ⁨1⁩ ⁨day⁩ ago

  why is the upper classes so daft and why are journalists supporting it

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• melsaskca@lemmy.ca ⁨1⁩ ⁨day⁩ ago

  Give me a reasonable rent that is fair to both landlord and tenant. I don’t want to buy a flat and be partially responsible for maintenance costs of a complete high-rise building.

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