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Thats not what I said. Every successful economy has a burgeoning middle class. The broader the middle class, the wealthier the nation overall. Wales needs to encourage and develop its middle class if its to succeed. You don't do that through higher taxes than the competition
Once this Stamp Duty/Land Tax holiday ends, things will be pretty quiet for a while. But people have to live somewhere, and property as a long term investment has always been a big winner.
London prices might be affected more, due to Brexit and Covid. But then, London prices rarely stay deflated for long.
I have no idea what your point was then.
Simple fact of the matter is that there is a shortage of houses in Wales and the U.K. as a whole
This means that house prices will be “artificially” higher than they should be for the foreseeable future, which is bad news for first time buyers especially
It’s been about to burst now for over 10 years....it might slow a bit but I can’t see it falling. So I bought a house 10 years ago for 250k spent 50 on it, now it’s valued at 450....will it go back to 250/300....I doubt it. Doesn’t matter if it does as I’m not moving.
I hope so. Buy to let wankers have ruined the property market for the next generations.
Banks and governments are as much to blame. You used to be able to get a mortgage for 3.5x your salary. That has shot up, making borrowing more money easier, so house prices rose. As a result, first time buyers need to save huge deposits for a house, amounts that, 30 years ago would have bought you a sizable chunk of a property.
A financial crash is ahead of us were trillions in debt .
This one will be even more fun than the last. In virtually every way, working class people are worse off than they were in 2007, prior to the sub continental crash that affected most of the globe. Since then, a supposedly more prudent government has tripled the national debt while average working people's wages have gone down in real terms despite the wealthiest citizens enjoying record breaking wealth increases.
He sold of all the council houses, let the tenants buy them etc....resulting in hardly any council houses left for anyone, wonderful idea there was a pitiful amount left in cardiff and a ten year waiting list apparently. Obv with the huge developments being built right now that will be resolved. Surely it will affect the prices aswell as supply could well outstrip demand for the first time.