For those of us who live near the Lake District, the current acceleration of Spain's housing crisis, driven by dwellings being (re)deployed as holiday lets & second homes (for non locals) is all too familiar.... and once again, in Spain, this has only risen up the political agenda as the squeeze on house availability (driving inflation of house prices) has hit the middle-class (who, of course, are more likely to vote).
Emeritus Prof Christopher May's Post
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h4890
In response to this post@ChrisMayLA6 The market will sort it out! Make building cheaper and make it tax free to sell real estate. You will see an explosion of construction that will lower the prices for everyone. As per how the market works, you'll also see a crash eventually allowing people to buy houses at good prices!
On a dark note, this could be seen as xenophobic as well!
This phenomenon is also not uncommon. I know that switzerland has blocks on foreigners buying real estate since they were swamped by
@h4890
Ah yes, but the key problem in areas like the Lake District is the difficulty of building due to the location.... exactly its appeal of course. One analysis of the UK's housing crisis is that while there is a shortage of affordable/social housing, there is also a maldistribution of what is available; dwellings are in the wring places, and the places where prices are high have (parallel to the Lake District) physically less space for building....
by Emeritus Prof Christopher May ;
@h4890
But yes, in an ideal world, a massive expansion of house building, a decline in prices (a 'crash' perhaps) and in the medium term, problem eased considerably....
by Emeritus Prof Christopher May ;
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