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> The two main factors for this are: two-person income households up-bidding, making it less affordable for single people/mums/dads, and an unsustainable level
by nicoburns 2y ago
> The two main factors for this are: two-person income households up-bidding, making it less affordable for single people/mums/dads, and an unsustainable level of immigration.
I feel like you have at least missed two other very significant factors: low interest rates and increased borrowing limits for mortgages driving up the amount people are able to afford and the fact that councils almost completely stopped building houses since the 70s/80s.
- tonyedgecombe 2y agoAlso increased longevity. Where we once had three generations alive now it is four. Where I live is full of aging single people clinging on to their family homes.
- philipallstar 2y agoI agree with you, but I don't think they're absolute fundamental drivers. Low interest rates will drive prices up, but not to the point we have now where nice-sized family houses are divided into multiple small residences and it's still not enough. I haven't tried it, but I suspect if you game-theoried it out with a stable population and low interest rates there would be up-bidding, but everyone would still end up with a house. With a relatively stable population you don't particularly need many new houses to be built (and not by councils in particular).