The real problem is trying to build out and not up. Land is at a premium so stop putting 10 houses on a bit of land where 200 apartments could go.
I've got a three bed Victorian Terrace with a small mortgage because I live in the North East. Not planning to buy, not planning to sell. Help to buy, no thanks it will finance another bubble, and when interest rates rise I won't be bothered. When the bubble pops all the expensive houses in the South will take the brunt of the fall. All the new aspirational house buyers will be devestated.
and i'll laugh, oh how i'll laugh...
But sure, successive governments did nothing to rectify the problem. Personnally I think it's one of the biggest travisties of the last Labour government that they never sorted this mess out why they were in power.
I agree with above, we need a 50's/60's style mass social housing development scheme urgently. And we need to be less precious about the "green belt" while we are at it.
Edit: I don't think the housing bubble will burst (or at least not drastically) until there is a major development scheme in place. Probably why successive governments have avoided it.
No, the only problem is NOT building anywhere near the necessary numbers of new houses, not whether they're built upwards, downwards, sideways or corner-to-corner....they're just not being built. Well, that and the fact that too many people buying their homes would, all of a sudden, see about £100,000 ( I would reckon) knocked off the value of their house as supply begins to meet demand.
And Yes, it is all Thatcher's fault.......she started it. Other governments could have done more to avoid or at least alleviate the problems, but ultimately, it's all down to her for implementing it with ALL THE WRONG motives. It was a vote-getter, pure and simple, and she got the votes and we all know where that ended.
If you believe it was some sort of philanthropic, largesse-spreading, wealth-sharing, owner-occupier-empowering plan, then.......I don't know.
The Green Belt is just another way of saying 'Not In My Back Yard', without being so up front about it.
Yes.....green fields, hedgerows and open countryside are very nice, but I happen to believe in people first, and too many people are, or are about to be, homeless. By 'homeless', I mean unable to afford to rent or buy their own home, so end up staying with families.
What were Labour to do? Re-nationalise our* houses that Maggie had sold off? (One, perhaps cynical, view is that she sold them to "poor people" so they couldn't afford to strike any more as they now had mortgages to support).
As to not building new houses; the south is getting over run with development. I live in a market town with a population of c 30000. Currently 800 houses being built, and applications in for another 13-1600. The drainage system is already broken, and the roads hopelessly choked. Do the LA care? Not a bit of it, they are 20 miles away, and totally out of touch.
For the price of a 4 bed house here (>£250000) you could buy whole streets up north. We need to shift the population back up north; preferably by creating real jobs up there that people will move for.
*In the sense that they belonged to the Nation, not me. Although I have bought two ex-LA houses over the years
While we're moaning about Thatcher - don't forget that she abolished rent controls as well - so the rents charged could balloon upwards - great for the landlords in the short term - very bad for the tenants and people claiming housing benefits now - especially with the news that whole swathes of landlords will no longer consider renting to those on benefits - it ain't gonna be pretty...