Let’s artificially stimulate our economy with incentives to build/renovate without taking in to account finite resources…

@whowasthatmaskedman Yep it’s hard to watch. Good friend’s of mine knocked down their old house ready for a new build. Meanwhile the building company keeps pushing delays and I’ll be surprised if they don’t fold completely before the end of the year. No doubt one of many families with debt maxed out to capacity.

@Notladylike Sadly yes. I would advise them to get a little legal advice NOW! It may be the best few hundred they ever spend.😷

@Changeisgonnacome The policies of the last decade have been specifically designed to push the price of housing up and make those owners of property capital rich. So keeping supply limited and public housing access low were tacit policy. Most people who own a home in a major capital are technically Millionaires or close to it. I'll admit to being on that list and my kids have their feet firmly in their own homes. But it has become necessary to artificially lower barriers to entry like interest rates and deposit subsidies to allow people to get into the game. Increasing the supply would cause values to drop and put a lot of "investors" into the red, owing more than the houses could realise. This would be familiar to our American friends. 😷