4 ms·
No, it isn't. Housing prices as they are are a product of supply and demand. Such that, regulations are preventing the building density required to meet unceasi
by slothtrop 6y ago
No, it isn't. Housing prices as they are are a product of supply and demand. Such that, regulations are preventing the building density required to meet unceasing demand propelled by immigration.
Historically rate of taxes were not much different than they are now, whether for North America or the UK.
- snidane 6y agoHousing prices increasing because of slow zoning and regulations has been debunked already. Typical argument used by property developers. The reality is that building houses for investment is more profitable for developers so they keep building it. As opposed to affordable housing actually used for living. The result is a glut of luxury investment apartments and lack of affordable nonluxury housing.
- slothtrop 6y agoNo, they just can't build enough. It's not as though building high-rise condos and houses is mutually exclusive. In Japan, houses don't really appreciate. People just knock them down and build new ones with much more ease. There's certainly no shortage of developers wanting for "investment" apartments, it's not the deciding factor. The demand can actually be met there.
- vertbhrtn 6y agoI'm not seeing that luxury investment housing, though. The newly built houses are usually +/- cheap junk at premium prices. At the same prices there's a low supply of 30-40 year old homes, but of a way way better quality. And in any case, new construction + available supply is nowhere near enough to meet the demand. What folks without 500k/year are doing I don't know.