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It's not the supply. It's not that London wasn't packed then and everyone not needed somewhere to live. All the craziness started when banks were allowed to jum
by cosmodisk 6y ago
It's not the supply. It's not that London wasn't packed then and everyone not needed somewhere to live. All the craziness started when banks were allowed to jump on a mortgage bandwagon.It used to be only building societies before that. I'm commenting the UK situation,but I think it's similar in other countries too.
- mixmastamyk 6y agoIt is supply—restrictions on development, investors and AirBNB snapping up units, which increase vacancy rates. Yes, low interest rates are also a big factor. Not sure if they have a mortgage tax deduction over there. More folks want to live in the city these days as well, suburbs have lost some of their appeal. All these factors => very expensive housing.