@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
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Emeritus Prof Christopher May
In response to this post@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....
@ChrisMayLA6 Sounds like a potential business opportunity for converting houses to afforable housing perhaps?
I could imagine tenants buying bigger houses, dividing them up into small apartments and then selling or renting them out.
by h4890 ;
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Emeritus Prof Christopher May
In response to this post@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....
@ChrisMayLA6 The problem is that this market cycle will take time, so it is not a solution for the near term. On the other hand, I doubt it would be possible to find a good political solution for the near term either given how much administration there is, and the fact of win/lose that so often takes place when the public sets the policies.
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