fancythat
I dont think it is the future.
But we shall see.
Someone I know who knows about such things, said that large developments are now being bought up by pension companies. And then they rent out the houses.
That the day of private individuals buying houses, doing up their properites, and building their own houses, has gone.
That the future is people renting, as they cant afford to buy.
The housing market being much more like Europe is currently.
Completely disagree. If people could not afford houses the prices would come down.
Yes, some financial institutions see residential property as a good investment - they always have. But on every building estate I have seen, the houses are being sold to individuals.
There were always a large number of people who could not afford to buy houses. That is why, until the 1980s, a third of all households rented council properties.
All that has happened is that public ownership of rented properties has now become private ownership of rented property and the children of many people who were able to buy their council house at a ridiculously low knockdown value, who would otherwise have followed their parents and been in council houses, now aspire to own properties, on incomes, the modern equivalent of their parents income, that mean this was rarely possible, except when people on these incomes were sold properties well below their rebuild value.