During the height of the British Empire. The empire went bankrupt just for importing tea and hence the opium war. The empire wanted the Chinese traders to accept opium as a currency. The situation was dire that the empire became the first narco state in history. Post 2nd world war, a simple and basic thing as housing brought the UK to its knees and its impacts are felt to this day. It's perplexing, how simple things can be so complicated and a rocket science to some islanders. The age of printing money from thin air to buy sweat and real equity produced from the Asian markets and the refusal of using/accepting the printed money in their trade translate to regime change, assassination or war is a real problem in our modern times. They exist just by printing money and buying up from Asia - the sweat shop of the world. When Asians refuse to go to work for the whole world at 50 cents an hour because they realise that the money they have been working for was created by English speaking demons out of nothing and its value is held by holding a gun to the head of each nation. Then the west will die of procrastination, hunger, laziness, lack of basic things & tools.
... Do you know Jesus Christ can set you free from sins and save you from hell today Jesus Christ is the only hope in this world no other gods will lead you to heaven There is no security or hope with out Jesus Christ in this world come and repent of all sins today Today is the day of salvation come to the loving savior Today repent and do not go to hell Come to Jesus Christ today Jesus Christ is only way to heaven Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void Heaven and hell is real cone to the loving savior today Today is the day of salvation tomorrow might be to late come to the loving savior today Romans 6.23 For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord. John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God. Mark 1.15 15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. 2 Peter 3:9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance. Hebrews 11:6 6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him. Jesus
I know it might be more work to do, but one thing that totally disturb me in your video was the random back and forth every few seconds between historical footage and boring stock image content that look totally unrealistic like if it was no better than AI-generated. The video quality would be good if you had found the needed twenty minutes of historical footage.
it seems to be a matter of luck, if your family has a decent sized council house, then your kids grow up and can move later back in, but if they have to move out, they have to share these old decrepid homes that have been carved into tiny rooms. I have to go back to the US because I can't find a decent place in the UK to rent, buying though is another matter
You can thank Thatcher (then Blair) for selling off half of the nations social housing stock. If onlyonly people had been willing to push for the option of decent, modern, council housing?
40s: The problem is low supply. 50s: The problem is low supply. 60s: The problem is low supply. 70s: The problem is low supply. 80s: The problem is low supply. Should the councils start building houses? Nah, more credit!
UK population has almost doubled since 1945. The war also destroyed a lot of existing housing, so there was a shortage even then. We just have never kept pace with the increasing demand. Additionally, average number of people per property has fallen dramatically, and decline of industry has made many areas undesirable. Even now there are plenty of affordable houses available, but not in areas people want to buy.
@@jrd33 I feel like "decline in industry has made many areas undesirable" is the bigger problem. The UK is a small island by comparison, but over in the US all industry focuses to the coasts, and even then, the coasts have very specific areas of concentration and the same cities are always the places that businesses want to set up (prestige now, as for many tech companies I highly doubt access to a seaport matters), and the rest suffer.
More credit made sence when there was something making money. Like mining and manufacture and domestic services remaining public. As long as that is OK then there will always be credit to draw from. Oh yeah... Thatcher.
It feels like it's been flying under the radar compared to other global issues, but there are serious concerns about stagnant growth, rising debt, and increasing inequality.
Yeah, it’s worrying. the UK has been grappling with slow economic growth for years now, especially after Brexit. There’s also the cost-of-living crisis, high inflation, and stagnant wages, which are squeezing the middle class. And let’s not forget the national debt, which has ballooned after the pandemic.
These issues could leave the UK in a vulnerable position, especially if there’s another global downturn. Plus, it feels like the focus has shifted elsewhere, which might delay much-needed reforms
some analysts are saying this could be an opportunity for the UK to rethink its economic policies. Maybe this forgotten crisis could push policymakers to focus on innovation, new industries like green technology, or even reworking trade agreements to drive growth. A crisis could be the catalyst for deeper reforms that are long overdue.
That’s true. A lot of times, crises force governments to confront the issues they've been avoiding. If the UK can channel resources into the right sectors-like tech, renewable energy, or infrastructure-it could lead to long-term growth.
There’s also a chance to address regional inequalities by investing more in underdeveloped areas, like parts of Northern England, which could stimulate local economies. but it’s still a tough balancing act with inflation and debt looming over everything.
Our economy is facing challenges due to uncertainties, housing issues, foreclosures, global fluctuations, and the lingering effects of the pandemic, all contributing to instability. With rising inflation, slow economic growth, and trade disruptions, it's crucial for all sectors to take immediate action to restore stability and promote growth.
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
Visited the UK in 2008, pre-GFC when it still gave the illusion of a booming economy. I looked at the housing conditions and thought: surely it can't be worth earning slightly more in the UK to live in such dilapidated housing, when one could be living much better back home albeit with lower nominal income. Quality of housing has a massive impact on one's daily life, it's not something wages can compensate for.
@@brodriguez11000 In the USA it has been fought by construction unions and the legal industry. The cost of building a house is vastly inflated by the cost of permitting, inspections, approvals, other legal costs. All of these groups saw cheap (prefab) housing a a threat to their incomes. The "Tiny House" movement is a reaction to this.
First time I ever visited The Netherlands my first impression was “this is like the UK but if it had competent leaders”. Similar architecture and geography, but much prettier and better maintained, people look happier and healthier, it’s like a parallel universe version of Britain.
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Personally, I've stuck with Stacy Lynn staples and her performance has been consistently impressive. You can confirm her basic info on the internet, she's quite known in her field with over 15yrs of experience.
.. Do you know Jesus Christ can set you free from sins and save you from hell today Jesus Christ is the only hope in this world no other gods will lead you to heaven There is no security or hope with out Jesus Christ in this world come and repent of all sins today Today is the day of salvation come to the loving savior Today repent and do not go to hell Come to Jesus Christ today Jesus Christ is only way to heaven Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void Heaven and hell is real cone to the loving savior today Today is the day of salvation tomorrow might be to late come to the loving savior today Romans 6.23 For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord. John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God. Mark 1.15 15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. 2 Peter 3:9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance. Hebrews 11:6 6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him. Jesus
The housing crisis in the Anglosphere can't be solved or even reduced significantly because: - The voters won't accept any solution in which they don't get to own a house - Those voters wishing to buy a house need for prices to drop or at least stabilise, the minority of voters - Voters who already own a house, the majority, need prices to appreciate so that they avoid negative equity and accumulate wealth for retirement - The taxpayer must finance all housing either through taxes to build public housing or through huge mortgages to acquire their own house. So good luck to the politicians trying to solve that one.
Asset welfarism is great if you have an asset, but it is also the death knell of working until you die to keep your landlord's children's wealth fund topped up.
In just over the last twenty years even the worst of housing has increased in cost buy 4 times the price it was being sold for. 20 years is the historical doubling rate for the last few hundred years. Most housing has increased faster than that. Wages in real terms have not kept up with that market at all and barely kept pace with historic devaluation of specie.
It is not just houses as a raw number, it is having the houses where there are jobs and services. Pleanty of houses in towns that are failing, just no job market to stop them from being ghost towns.
Living standards in the UK have struggled to advance, particularly in the realm of housing. Modern British homes often lag behind those in other developed nations, both in terms of amenities and size. With an average size of just 80-100 m² (860-1,080 sq ft) for a single-family home, British houses are significantly smaller compared to those in France (130-160 m²), or Spain (130-160 m²). Even Japan, with an average of 100-120 m², offers more space than the typical UK home. In terms of housing, the UK is undeniably at the bottom of the table. Unfortunately, this issue is unlikely to be resolved soon, as the UK has consistently made the wrong choices along the way. New homes are still poorly constructed, too small, and inadequately spaced. Planning regulations remain overly restrictive, and past failures in apartment building have left many potential buyers wary of such options. Additionally, essential features like garages that actually accommodate cars or adequate cooling systems for increasingly hot summers are often missing. Simply put, the UK seems to be getting everything wrong when it comes to housing.
Over my lifetime the UK's has advanced steadily on the Human Development index, In fact it scores higher than all the countries you mentioned. Housing is a weak point especially affordability but that's common to all developed nations. Canada went the same way as the US with low density car dependant sprawl of single family homes. Yes they are big and spacious but it comes with ridiculous house prices and really poor town planning. Second largest country in the world and rich, They could have built anything and they chose to build the 401.
No one is going to move to remote locations where you can't grow anything, transport options are poor, and there are no jobs. If you build next to the 401, you are building in an area where there are jobs, where there are good transportation links, and you can actually have a garden. It's expensive because it turns out that everyone, including the 1.2 million people we take in every year want to go to places that have transportation, jobs, and mild enough you can grow food. Canada has to do a massive infrastructure investment, like a multimodal transportation corridor or roads, rail, and pipelines across the higher latitudes just to get the cost of transportation down low enough, to bring basic materials to start a construction project. We are talking thousands of kilometers, tens of billions of dollars, crossing the jurisdiction of provincial politicians wanting a cut, just to get the transportation to open an area up. Easier to just throw the money to build where the 401 is, or any highway that brings you to a large market. There's a reason why the saying "people come to Canada to escape history, only to ben overwhelmed by the geography" exists.
@@SRParsonage LoL if there is a index that implies the UK has been advancing over the last decade and a half that index is broken and useless. Canada has a housing bottleneck because its a relatively small economy in a very large country, THe UK has a bottleneck because ...British people acting British.
Having recently visited England as a European, I honestly got a culture shock at how bad your living standards are. Your houses are still stuck in the 70-80’s. Shockingly low standard.
Depends on where you live. If you live in one of those awful rows of houses in the inner cities where most migrants live then they are awful but the more further away from the city in to the suburbs and smaller towns the houses become bigger and better with Very large gardens
We are a poor country and always have been yes we have london and it's surrounding environs which give us a veneer of wealth but take that area out of the equation and we are a second world place. We are an island not connected to the great Eurasian land mass we have a rigid class system and a massive skills shortage so it's nigh on impossible to get big international companies to invest here especially outside London the economy is mainly deliverroo and zero hours contracts or services where one brit will pay another brit for scratching his arse very little if anything is made and sold on the world market to bring in wealth.
Utopia can only happen if revisions to making wrong bets happen quickly, but also while trying out new legislative ideas more frequently and in multiple parts of the country, also give smaller political actors more power and financial room to do what they need to invest in their own towns and cities. Experiments shouldn't be done on such a large scale, instead it should be more within special zones to test out
@@monkemode8128the UK has high regressive taxes on the poor (an example would be a fine for those on disability who have an extra room in their home, such as one used to store medical equipment) and very low taxes comparatively for rich people (just look at private prosecutions entirely funding the prosecutions costs). I agree that if we’re gonna be in a capitalist economy taxes are a necessity, but the way the UK does it is honestly the worst way.
The biggest “utopia” being the promise of lower taxes and regulation especially on corporations, where that new wealth would supposedly “trickle down” to the average worker instead of getting squirreled into havens by the owners.
I've been to over 20 cities and towns in the UK. It is ugly indeed. Broken public facilities are seldom fixed properly. Potholes are filled with useless materials just to be washed away within weeks. Empty shops are commonplace on High Streets and many retail parks. Empty sites sitting under the sun (or more precisely in the rain) and nobody is interested in developing them. People are so poor and businesses are keen on saving costs that they don't turn down the heater to an uncomfortable temperature just to save a few bucks. As a UK resident, I don't hide my honest opinion and am looking for better places to live and retire.
@@CamelCasee they were colder back in the day. I grew up in the time when central heating was a dream. It was frigging freezing then not cold. We had no hot water unless you stoked the fire for a couple of hours either. Don't tell me the old days were better, you are nuts.
The major problem with housing policies is that no matter how you manage to solve one aspect to the problem, you inadvertently create a huge new one. Then you combat that and we're eventually back to square one.
Yeah. It seems to be a 'damned if you do, damned if you don't' kinda situation. Doing nothing never seems to be a good option and everything that has been tried has had unintended consequences. What it comes down to, always, is human greed. There are always people, who are willing to screw everyone over and those people will always rise to the top (it seems). You can't regulate that away. And if you try, you create a system that is so stifling to innovation and self actualization, it's like trying to drive with the handbrake drawn. It's so depressing.
@@raraavis7782 Cheer up, though. We've been through way worse, such as plagues. It's just the policies politicians make make us think they're magicians, whereas there is no magic card out there.
@@jabloko992 from a US perspective. I think many people who already own houses are counting on the value as a hedge against inflation, and building more houses are similar to printing money when houses are used primarily as substitute money and secondarily as shelter. If the government stop printing money or switch to a hard currency, much fewer people would have to rely on homes as a substitute hard money. Only then will land use restrictions have a chance to be lifted to allow developers build more housing units.
@@DAWN001 I am aware of this, but the thing is, with the price of property so high, you have to wonder about what else that money is *not* being spent on. A house that has been there for so many decades doesn't require day-to-do-day work (other than cleaning) and doesn't produce anything else economically. Compare that to those people having that money instead to spend on goods, investments, starting businesses, buying government bonds whatever else, that stuff stimulates the economy, gives people jobs etc. Turning off "the tap" for houses means the price of housing goes up, which means the price of *everything* goes up, people get angry and divided and start fighting each other etc. A government should be able to a form an opinion majority against such an issue.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
Too many people in Authority often see concepts like supply and demand and freedom of choice as silly and insignificant, they see people as just commodities that don’t need to be given due consideration, it’s happening again now.
No, they put too much focus on controlling supply and demand simply from a monetary aspect. Countries where the government engages more in getting affordable but quality houses build directly have less of those issues.
@@dietcab-kem6142 buddy its less regulation as in requirering less permits to BUILD high density housing. You need numerous more permits to build 1 high rise condo with 20 units on land the size of 5 single family homes than 20 single family homes which is what most cities who have a housing crisis atm do. Regulations isnt just materials, safety and health, its permits, fees and general incentives. Countries without housing criseses litterally have less regulations in terms of zoning laws and the number of building permits (many in europe by the way).
Part of the problem is a lot of the UK housing stock is really old even by European standards. Cities are still full of endless rows of tiny terraced homes many of which are now over 100 years old, and some significantly older than that. It's a legacy of its industrial past when many people worked at a local factory and lived very close by. Practically all of the urban industry is gone now, but many of the houses remain. The first attempt to renew housing stock after WWII was partly successful but also resulted in a lot of ugly concrete tower blocks built on a very tight budget, looking quite similar to the soviet "commie blocks" being built on the other side of the iron curtain. Most of these were not built to last and are gone now. That reputation pretty much killed off the desire for high density living among the working and middle classes, as something only for the very rich or very poor. You don't see a lot of modern European style apartment blocks in the UK because of that experience. So people look to the suburbs, but unlike in some parts of the US there isn't endless land to build on so suburban homes have been shrinking and shrinking until they're nearly as small as those urban terraces that remain. There's no easy answers, whatever you do is going to piss someone off. People living in those tiny terraces still generally need a lot of persuading to move out so density can be increased, and you'll get cries of gentrification as the new apartments inevitably end up being sold to rich yuppies while most of the locals are banished to the outskirts. Conversely, people living in the suburbs and countryside don't want to see it concreted over with more Barratt boxes, and don't want their narrow roads snarled up with traffic and local services overwhelmed with new arrivals.
Happening to the US as well. Farmers complain about the slightly increasing amount of suburban houses, suburbanites complain about the influx of people fleeing urban prices.
They are building suburban houses all around me here in the US. They have 4 bedrooms and thr blueprint and layout is that bad I guess. But they are so poorly made. I walked into one and could see light from other rooms under the walls. Cheap carboard wood and terrible craftsmanship. The houses look dystopian because they only have a few differences among them. They are really really expensive yet they have tiny yards and nowhere to park the cars. Cars are all over the street because every member needs a car to do anything. They are building them everywhere yet housing prices just continue to go up and up. They are also building apartments everywhere, yet I can't really see why anyone would want to move into a rental with strangers next door. They are so expensive too for something you'll never own.
@@Croz89 agreed. What in the 1880s were modern beautiful terraced villas, are now overcrowded and expensive to maintain starter quality homes with no parking. Plus, when every you do anything to them, your now uncovering 140 years worth of bodge-jobs and people doing things on the cheap. I helped a friend of mine redo her kitchen recently. We found a fucking radiator behind one of her kitchen cupboards! The old owners hadn’t even bothered to switch it off and it had been leaking into the floor for decades.
@@sino_diogenes Well, yes and no. Both sets of residents have legitimate concerns, the urbanites don't want to be priced out of their area, and the suburbanites and rural folks don't want to have their peace and quiet ruined by more people and traffic. Considering the UK's poor track record of building adequate infrastructure to cope with the expansion of suburban and rural settlements, and the lack of provision of affordable housing in cities, you can see why some people might object.
Any given day in the future will be the highest cost of living ever. Deflation is possible but it’s rare and usually part of a depression where cheaper groceries or housing are the least of your worries.
The problem isn't a lack of homes. It's homes in areas that don't have employment. There is only so much space in the south east. Employment needs to be spread out from the south east.
Most of these new homes were council houses, which weren’t available to buy until the 80s and the ‘Right to Buy’ scheme. You are comparing the council houses to 1930s homes built for the wealthy when it should be compared to the terraced slum housing it was replacing.
Also the old council homes that are in gentrified areas are generally quite nice tbh. Lots of them were built to quite high quality it’s just neglect and vandalism over the decades that makes them look shit
@@jambott5520 Yeah? Old stuff wasn't better though it was just more expensive. You can still buy furniture and clothing that lasts a life time you just have to pay more. My point was that people compare cheap modern stuff to expensive old stuff then say old stuff is better than modern stuff. Like the commenter said, old houses weren't built better than modern houses its just that all the cheap slum housing was knocked down and all the expensive well built housing survived.
@@thebenevolentsun6575 I disagree. The houses built for working class folk back in the thirties outlasts anything built today. And I've had both. The furniture that 'ordinary' people bought is much better than that bought today. You can get quality, but it's outside what most people can afford. But today, everything is intended to be disposable, obsolete, not fashionable, so you can buy the same stuff again.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy >>and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
Because of Brexit, I now live in Germany where folk buy a piece of land then build their house to their own design and feel embarrassed by often shoddy, tacky identical boxes when I visit the UK. No-one seems to care about the appearance. Boring uniformity seems to be the unfortunate life choice for brits as regards housing. Neighbourhoods are dreary and apparently designed with no desire to please the eye, just get the identical boxes up fast and cheap. Gardens are boxed in like prison excersize yards. Take a look at great little villages out in the UK countryside and then compare them with inner town or city drudgery. I don't understand this world of difference. Having said that, crumbling housing in the sun in Italy passes as "romantic", but in the English rain they're just crumbling.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
The trickle of money into tax havens which began in the last century has become a flood. The total now held in offshore banks is estimated at 10% of global GDP and rising. Britain alone launders £90bn each year, according to the National Crime Agency (NCA). The figure includes the proceeds of almost all serious and organised crime committed in the UK, but also a significant amount of the corruptly obtained assets of politicians and public officials from overseas. This loot finds its way mainly into the housing market. Companies incorporated in the UK’s network of tax havens own 57,000 properties in Britain. Of these, 16,000 are in just two London boroughs: Westminster and Kensington and Chelsea, according to research by Global Witness. This is high-end money laundering, and it is a thriving British industry staffed by a network of what the NCA describes as “professional enablers”, who in exchange for a fee will turn a blind eye to how the cash was obtained and who really owns it. The key actors here are lawyers, bankers, accountants and a loosely regulated but vital part of the chain - fiduciary service providers.
So many problems caused basically, and let’s be honest here, by NIMBYs. All the shenanigans over lending controls and interest rates weren’t ideal, but basically the UK just wasn’t building enough houses of sufficient quality in the right places. Funny how the more things change the more they stay the same.
The problem that people object to with new developments is that they build the housing estate but they don’t build the infrastructure that is needed. Round my way there are massive amounts of house building and they are then surprised when the roads get blocked. Our GP was never a problem about 10 years back but now I can’t get an appointment. There isn’t enough space in the schools. Is not nimbyism is a practical resistance to unmanned development. I’d we really wanted to sort it out we’d be building more houses in the midlands and the north with infrastructure linking the new developments back to London and the other major hubs like Manchester, York, Leeds Birmingham etc.
The Victorian housing that was pulled down to make room for cheapo 1960s housing was in no way worth keeping. I was around at the time and should know. In fact, I remember how whole city areas of decrepit, rat and cockroach infested terrace housing, a lot of it with leaky roofs, outside toilettes and rising damp, were cleared for redevelopment. Maybe the quality of the housing that replaced them was questionable, but still a huge improvement.
@@antispindr8613 I'll give you an example as an answer. My late parents' house, built in 1902, a typical terraced house in the suburbs meant for a middle class family, had a roof made of quarried grey slate and outside cavity walls of double fired red brick. It's still standing with the original slate roof and brickwork. Even the chimney is original. Only the pointing and the windows have been renewed. The material of the houses built in the 1960s is of far lower quality and won't ever last as long even with a lot of maintenance.
From the US - nice to see that we aren't the only ones having a hard time figuring out how to balance economies. I hope Brits finally get a chance to own their first houses; as a first-time home buyer myself, it is a fantastic investment that provides continuing benefits for as long as you have the home.
“It’s a fantastic investment”. And thereby hangs a large part of the problem. Why is it “a fantastic investment”? Because it’s in short supply in the places where people want to buy it. So people buy property “as an investment” rather than simply as somewhere to live. OK so what else does that do? It ties up capital - both equity and debt funded - in property, which starves other applications of capital (eg investment in innovation, industry, infrastructure). In the U.K. a huge amount of national wealth is sunk in property and a huge amount of private debt finances property. This is not a criticism or snipe, by the way, I am as guilty as everyone else as I own a house, in a system where it isn’t possible for the individual to make any difference by getting of the merry-go-round.
@@davidpaterson2309 Let me clarify: I've lived in the property I own, and in just a small number of years, I've seen the value double. I realize that people see ownership purely as an investment to see the value go up. That's unfortunate as it has locked a lot of people out of certain markets. But for those who got lucky or otherwise managed to avoid murderous interest rates (I made a cash deal, so no mortgage to fear, and I know that if I cashed out this second I'd get close to 2x what I paid). I imagine it varies from place to place and depending on the time of purchase. But again as a first time home owner who has lived in their first home, it has been a fantastic experience.
Yes, but the Americans have always been dumb, the British only became dumb in 1971, when Trickly Dicky Nixon took the US dollar off the gold standard, and send the western world on a downward trajectory. Then the US military developed the internet that allowed everyone in the world to learn how to beat the US and the rest of the west down. Now China and the rest of Asia are getting rich and the west is going broke.
It seems like the moral of the story is that you need to increase supply. It does not matter what economic games you play if there is not enough supply.
Rents combined with taxes are destroying small businesses everywhere, but especially in UK cities. People are wore out being frustrated, disappointed, and left feeling unrepresented, if not feeling betrayed. It seems that's there's more than enough big brother government in our lives, but it's always disproportionately distributed.
My first house was tiny all 5 of us lived in 1200sqft. In the USA. Now they don’t build houses that small either your in a flat “apartment “ or they usually start at 1600sqft. My sister lives in a 4500sqft home and it is like a mansion. Either your poor or upper middle class in America because all the manufacturing left, so now either you live in an apartment or you own the apartments.
@@Arigottaaadaracmhaand it's still not enough to actually bolster the middle class like it used to. Most jobs aren't paying enough to actually bolster the economy, yet they want people to spend more.
I own one of said late 1960's homes..... theres no way I would swap it for a new build. Just the missus and self bouncing around a 3 bed house with the mortgage all paid off.... holiday after holiday.
There seems to be an aspect that is getting conveniently forgotten, the UK industrial sector and economy were transitioning from a colonial economy with captive markets and preferred raw materials sourcing to one based on foreign trade market relationships. Many companies weren't able to make this transition, and much of the UK's previous investment abroad had been heavily financialized. This meant that private investment languished, and the industrial sector was in steady decline.
The lack of housing wasn't really the product of the baby boom, in the 60s they were children. It was caused but lots of it being blown up. It took decades to even clear the bomb debris. And Victorian housing was awful. It was built in a hurry by factory owners to provide staff. They weren't that bothered with housing quality. Or running water. People didn't have inside toilets and used communal washing facilities. Most people were glad, at least initially, to get a council flat. If only for the central heating..
@@antispindr8613- real problem in Britain is that it’s virtually impossible to buy your own land to build on. You buy a second-hand home with its historical problems or you buy from a developer, who will sell you a chicken-coop house built as cheaply as possible.
If there was no central bank, banks would have to collapse when they made too many bad loans. This would, among other things, lead to a limit on credit availability and a decrease in inflation. But since the government is the lender of last resort, and since politicians wanna be popular, interest rates stay abnormally low and credit flows endlessly. And that's where we are today. Factoring the real rate of inflation, not the phoney government statistics, the real rate of inflation means interest rates are effectively negative. Banks are incentivized to give out loans that will surely go bust. We are liquid but not solvent, paradoxically.
They learned their lesson from the Great Depression that when the public has no faith banks will survive, they do a run on the banks which spirals out of control. When inflation gets below 0, deflation, it is a far bigger issue than inflation because people stop spending and unemployment follows
Hell no The labor government while wanting to do good, failed from their incompetence and ignorance. Just because the tories rules for a long time, doesnt say much. The crisis was started by the labor government.
@@d_all_in Higher taxes for the wealthy, people who earn more than $5 million a year, by just 2%, and put the corporate tax rate to 27% and that alone can pay for a lot more services for the people.
Are you sure the Crisis went away? Because your description of the 1960s to 1980s, is scarily similar to the housing market of 2024, except the demographic crisis is an ageing workforce+below replacement birthrates = immigration + hollowed out public sector burdened by debt= housing crisis. Are we missing something here? Do we need a part 2 to this video?
To an economy, the biggest crisis is always the lack of productivity, which has been declining because the government lacks proper policy to make Brits happy to take full-time jobs and work extra hours. Married couple who have children cannot do full time cos child care is ridiculously expensive. On the other hands, there are many jobs the local British refuse to take and we rely on immigrants. Yet, we are not happy with the immigrants as they drive the housing demand up At the end of the day, the problems of Britain are Brits ourselves.
@@JLCC2022 The BBC comedy "Yes Minister" (or was it Prime Minister, cant recall, either way I recommend both shows!) explains the solution to this; Anyone able bodied, refusing a job offer will not be eligible for benefits. Aside from how horrible a policy this is towards actual human beings, there is no question that the western world in general has to start changing its attitude towards people that do not work despite being able to. I for one know of a woman sucking up welfare for the better part of a decade in Denmark, and the reason she refuses work is because she insists on a job in the civil service, nevermind that she could easily pull off working in a nursing home doing the more light work and free up more qualified hands to do their core task better.... But no....alas. Add in immigration and the reality of work ethics being somewhat cultural and...well... Honestly am down for scrapping the pension system, no retirements, inflate the piss out of the economy until people in retirement has to go out and work, passivity taxation for the able bodied that do not work, lets say, 10% of net worth. I know, bit millitant and aggressive, but hey, am Danish and spitballing into a random void, so uh, hardly news to you lot that we can be this way!
Housing is always a supply issue. People need to live and a place to live. If they can’t find a place they’re homeless or in awkward, substandard housing with way too many people to stay healthy. Lessons need to be learned today.
Thank you for this background. In 1966 I was able to buy a small but adequate house AS A POST GRAD STUDENT. In 1968 I had to move to other end of the country for work and was able to buy another, not very splendid, house even before the previous house was sold. In 1970 moved again, sold 2nd house and bought 3rd, on mediocre salary. My experience was that there was available credit and affordable housing. Lending limit was 3x annual salary, and even on modest salary that was sufficient to buy adequate home. My Grandchildren will be lucky to ever get on housing ladder despite good prospects. House price inflation is not an English problem. The USA has a housing crisis and e.g in Germany stricter building standard make new builds even more expensive, and certainly too much for social housing. Economists and politicians seem unable to find a way to provide all citizens with affordable homes.
I just read an article called "Is the UK Becoming A Third World" Country in The Luxury Playbook that says exactly what you describe and goes even more in depth. Unfortunately we are doomed.
Just to think that the UK even while negotiating the Brexit deal was still seen as a generous labour market (at least to expats like myself). 3 years since I left the Black country, no plans of going back, yet I still want the island to get back on its feet. It has some decent people there.
I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.
Sincerely it's best to seek an advisor right now, unless you're canny yourself. As an eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Exactly, why I stopped taking financial advise from RUclipsrs, because in reality I end up with a collection of confusing stocks. Whereas, all I needed was a real market expert to have made over $350k in less than 2 years.
“Jessica Lee Horst” is a hot topic among financial elitist in The US. She's gained some reputation for her works during Covid. All the info. you need to set up an appointment is on her web page.
Just looked up her full name on my browser and found her site without sweat, over 15 years of experience is certainly striking! very much appreciate it
The houses on my street, when they were originally built, were the smallest in the neighbourhood. However, because they were so small, they were too small to subdivide. So now all the other houses on surrounding streets have been subdivided into 2-4 flats, so the houses on my street are actually the biggest remaining.
I am now aged sixty, born in a pit house in England and today live in Tasmania. The answer is both complex and simple. The simple: People once had a community. An extended family of existing not apart but with each other. A cup of sugar borrowed a family struggling once held together by the fabric of 'getting on with it and caring about our community'. Heads held high and proud of a job, any job and selfishness was frowned upon. Imagine a glue or community safety net where people raised each other up and sometimes literally. The Complex: A devastation of social cohesion a decimation of giving a hoot about ones extended community. An essential expectation that someone shall fix everything for you and then blame someone else is now the norm. In the moment and problem solving realising only YOU can help yourself to rise to better places. Cooking cleaning making do and mending replaced by Uber eats and reliance on others to fix everything. No community no preservation through numerous voices supporting you. Squashed and vanquished to a pathetic trodden crumb awaiting existence by the Tory boot. The Solution: Get out. I cannot afford what it is I would like to say for there is indeed little hope. Get out and go wherever and however you can or sink with HMS Britain.
Tasmanian expat here (now living in Melbourne). So many people cannot dedicate the time to cook, building a neigjbourhood, mend etc due to having to work. Not to mention food insecurity is an issue for many.
@@bcgibson22 Absolutely, but I measure that we ought. People have adapted to this modern world and along the way created what was once perceived an 'easier life'. Yet that easier life leaves people incapable when the chips are down to manage, to survive and live. Even the most basic cooking skills neglected for fast eats fast fix. Allowing themselves to fall prey to dismissing the basics of life. How many women today or young girls can sew and fix an item of clothing? How many even bother? A dozen eggs some flour and potatoes along with cheese and veg and many meals available to those that learned to juggle growing up. Whilst it is true none is ideal for we all wish to have better, that crux of existing by oneself against the struggles life befalls is a vacant lot. Society has created a bed for all to lay in, unless we see with our own eyes and go back to basics.
@@mitreswell Yes it is indeed. It is my home no less than I feel born here. Today and still, people in rural areas give a damn. Still today people chip in to help people to rise up to stop them falling. Tasmania is rugged natural and beyond beautiful. My life today is studying the majestic wonderful wildlife. From Tiger snakes to Wedge-Tailed-Eagles from fauna to flora the sky the land and marine. It is my soul. An external expression that lives along with me, not separate not somewhere else. Yes I know, I am home. :)
I played on google maps before and went along exploring the UK. I was confused visiting the outskirts of London and some quaint towns because some of buildings looked dilapidated and already depressing because of the gray skies. I was like “no way this can’t be what people are living in, they have a higher HDI than the US but the homes in America look better off than in the UK”.
Getting what it deserves after aligning with the Europeans to embargo the Commonwealth for generations then taking a dive out of the EU. Treachery never pays.
Right to buy without the responsibility to replace the sold houses imo is what ruined everything, there were things before and after but it's right to buy reducing already low social housing numbers that tipped things over the edge. I've been unemployed for over a decade and have a patchy (but improving) credit rating, when I received the letter giving me an assured tenancy for my council flat I was told I also had the right to buy it alongside all the paperwork I'd need to start the process.
The whole ‘if we make money available, private developers will make houses happen’ has such a childish ring to it. Like wishing and superstition replacing strategic planning.
My house was built in the mid sixties (I live in the north of England). The rooms are far bigger than the adjacent pre-WWII housing (2 reception rooms but a tiny kitchen and 3 small bedrooms including one which was barely a box room). It's got a huge lounge and kitchen and large bedrooms. This is normal for the towns and villages in my area. The area I live in was a small village post-WWII. In the fifties a huge amount of social housing was built and in the sixties, hundreds if not thousands of private houses were built in the village. My parents bought their first house at this time. My dad was an engineer working a lathe and my mum was training to be a radiographer - neither particularly well paid. Yes, the houses did use cheaper materials that those used in the fifties housing but they were so much bigger. They got a mortgage when many people were being declined but the interest rates were good and the houses cheaper than older houses. They nearly lost their house in the seventies, when the interest rates shot up and the housing market boomed. I often wonder if the mid-sixties was a period of time which evened out the North-South divide a little as housing from that period in my area is great and so much better than modern cramped pokey housing.
My house was built in the early 80. I know because I’m renovating it at the moment and found a Kit Kat wrapper. 15 pence and had a use by date of 1982. 😂
Dont be cheated, US media never criticizes the govt, a well known fact, but Brits and British media heavily criticize anything British. So you really never know how youre politicians are fu*king up your country too
Keynesian economics: Town and Country Planning act. Restrictions on the supply of housing will always lead unhappy endings for most. Those who get rich by speculating usually deserve to: if the government and NIMBYs set the rules, fair play to anyone who beats them.
The lesson is clear, the goal of private enterprise is profit, not providing affordable products. To provide affordable housing, you build affordable housing.
People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
truth is that gold serves as an inflation hedge in the long run, but not profitable in the short run. only thing you can predict is a strong effort of wealth transfer from the people to the powerful. luckily some folks find solution in financial advisors
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
Reason: it practices American financial capitalism Notice that every country that does are literally in the same boat: Excessive debt and exponentially high inflation. 🤓
I'd argue that relaxing credit restrictions didn't necessarily cause an increase in housing prices, but rather it allowed prices to more accurately reflect the state of the UK housing market
Refusing to set minimum standards earlier (and I believe the Tories removed them again in 1979?) was the issue. Why would a developer build 7 spacious houses when 10 would go on the same plot?
It cost more to heat a spacious house, it cost more to maintain a spacious house and it will cost more to purchase it when it is at the whim of a fluctuating housing market. It's not the house sizes that are the problem, it's the overwhelming demand for them. We go from moaning about the lack of available affordable housing to moaning that they're not 4 bedroom mansions with an attached garage and spacious garden.
Quaint villages were not torn up for brutalist tower blocks. This is ignorant crap. There were schemes for comprehensive clearance because the standard of housing in inner cities was appalling. By the late 1960s it was recognised that many of the replacement schemes were poor so grants to improve stock as well as money for environmental improvements via General Improvement Areas were introduced after 1969. The money was increased after 1974 via Housing Action Areas. The late 60s was also the time when we built the most new homes: over 300,000 in 1969. That figure has never been equaled and seriously declined until recent years. The alleged economic analysis in this is pure jumbo jumbo
Quaint villages weren’t torn up, but communities were, they flattened what today we would call “15 minutes cities” for car centric hellscapes where the people had absolutely nothing to do. The housing action plans were a good move, the bones of a lot of tenements were good and it was cramped conditions and lack of plumbing that made them so terrible. If instead of knocking everything down and relocating people they had relocated half and expanded the rooms, or slowly built up the area instead of raising it, the redevelopment would have been far more successful
@@flyingrat492 You don’t know anything about this. A lot of housing was bomb damaged from the war, there were often no bathrooms, outside toilets, poor construction. People were glad to see it go. The new build wasn’t any more or less car centric. It was built to Parker Morris standards so the rooms were large, with fitted kitchens etc. The problem was the standard of building work- same issue we have today: identified in the Egan Report 30 years ago and still nothing done. If you want a well built house buy one built between the wars. Very solid.
@@jontalbot1funny you say that, I grew up in a tenement, lived in an interwar home and work in a newtown. Newtowns were extremely car centric, like Milton Keynes. Even if then those old buildings were seen as dilapidated then, now many of them have been redone and are quite livable
@@flyingrat492 The New Towns are a different beast from the areas of older housing, especially MK. As you have noticed it’s laid out on a loose grid for cars. The designer, to no great surprise, was an American. Most of the others were designed around the idea of a walkable neighbourhood with sufficient population to support a school. You are right about a lot if the tenements in particular. But people now have no idea how poor most of the cleared housing was. I am old enough to remember using a tin bath in front of the fire at my grandparents house. Everyone had chilblains cos the houses were cold, damp and draughty. I should say l am a professional planner and taught housing development, housing policy and economics for 11 years so unlike the maker of the appalling video who ( if it’s even a real person) knows FA, l know a thing or two
The mistake the architects of the 60s made was to not incorporate shops, bars and leisure facilities into the ground floor of the new tower blocks. These were often isolated from the town centre and attracted crime and antisocial behaviour. Modern tower blocks would solve overpopulation and the shortage of housing, but each floor needs to be limited to one family, there should be well-maintained lifts, the ground floor should be a supermarket, all the parking should be underground, there should be a resident policeman or security guard to patrol the grounds after dark, each block should be allocated a building superintendent or handyman to immediately repair any defects, there should be a bus stop outside the front entrance, and all the surrounding wasteground should be turned into well-lit gardens for the residents to enjoy
Wrong, all wrong, tower blocks are terrible for density, especially with your “well lit parks” at most residential buildings should be 10 stories, but most should be around 4-5, except in the most dense areas. Yes shops and bars should inhabit the first floors, but your garden city concepts require a lot of building upkeep which will be cut as soon as it becomes to expensive, which it will. A good community doesn’t require round the clock police presence it should reasonably police itself. I recommend you read the works for Jane Jacob’s before ever advocating for any sort of tower blocks
@@edc1569it’s a stupid idea that insulates every family from each other in their daily lives. Verticality creates separation and hierarchy, which is the greatest enemy of a functioning community. Parks and “grounds” should be occasional and small islands in the middle of a medium rise city, instead of buildings being like that
Fixing demand : Kick out speculation by restricting foreign capital and heavily taxing unhabited unit. Fixing supply : Get rid of NIMBY, offer governement assistance on mortgage only for new build, tax heavily the undevelopped land in area that the governement point as "high priority for construction"
@@laju6398 You are paying punitively high tax rates because you are not taxing land. The absentee landlords prefer consumption taxes because they don't have to pay them. Income taxes can be avoided by paying your income to a your Cayman shell company as interest payments and then pretending to the tax collector that you are losing money. To add insult to injury, the taxes that they don't pay are used to pay for public infrastructure which then increases the land values and rents to the benefit of landlords. Thus the "Landlords grow rich in their sleep without, working, risking or economizing" as John Stuart Mill put it. When you or your children then wants to buy or rent a home you will pay second time for the improvements that were paid with taxes in form of increased rents, home prices and interest charges. As long as you keep taxing income and consumption instead of economic rents(land value increases, resource rents, monopoly prices, etc) your country's industry will be in permanent decline while all the money is made by do-nothing absentee landlords and bankers.
@@matthewbarry376 Here is UK's landownership from Guy Shrubsole's "Who owns England": Aristocracy & gentry: 30% Companies & LLPs (UK and overseas):18% New money: 17% Unaccounted: 17% Public sector: 8.5% Crown: 1.4% Church: 0.5% Conservation charities:2% Homeowners:5% The unaccounted land is most likely owned by the aristocracy. As you can see if taxes were shifted from income and consumption to land the taxation would mostly hit the economic fat.
I drove from London to deep inside Wales. And what I did not understand was how people were crammed into old (1910s vintage), tiny, one bathroom houses, while I drove past hundreds of miles of un occupied, unused land.
Classic urbanist mentality. The land your driving through is not unoccupied or unused, it's farming land. Cities are not self sustaining environments. for every person in the city you need several acres of land to produce the food they need.
Most people need to live near where they work. We already have plenty of houses available in areas where no-one wants to live because they can't find work there. And we don't just need houses, we need infrastructure - shops, doctors, dentists, schools, etc.
They were built cheap and often for workers to be near the mine and didn't have bathrooms when they were built. Stone needed to be quarried by hand so was a premium product. Also people didn't have cars but had the convenience of density for shops and pubs nearby. I'd rather live in a terrace nearby community facilities than a souless detached estate with no social facilities. Most of the space in Wales is upland which is cold wet and windy, but great for grazing sheep on.
The dollar is literally being destroyed / debased / devalued. I just want my money to keep outgrowing the inflation rate. How do i invest about 250k i have parked in the bank and what strategies do i employ to make significant gains and stable cashflow?
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??
I've stuck with ‘’lucia Alicia Cruz” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I was saddened that your video stopped where it did. The Thatcher era had a profound impact on the housing market with high interest rates, high unemployment and also the sale of social housing. We also saw great swings in the value of the £/$ at one point $2 to £ then reducing to nearly parity. We also saw the removal of one area of supply - councils stopping building more rental homes and the rise of private sector landlords.
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Stacy has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I’m guessing the real differences happen with resource exploitation - and that can be harmful to the ecosystem or not, but in this case the North Sea Oil boom laid out the good times in the 1980s and 1990s plus paid for the unemployment benefits of a generation of manufacturing job losses. Governments can only really increase or decrease the pain (NHS, Truss/Quarteng) but real prosperity comes from doing new things in life. Same with real suffering, comes from new conflicts.
Don't be dismayed by good-byes. A farewell is necessary before you can meet again. And meeting again, after moments or lifetimes, is certain for those who are friends.
The UK during Thatcher was a dreary & unhappy place to visit (& probably to live in). But from the mid90s to mid 2000s was a joy. Austerity killed it though.
Essentially this was the result of "population explosion", the exact opposite demographic trend compared to today. In other words, don't worry about population decline too much and act hastily.
once the wave of baby boomers is passed, we'll be entering an uncharted territory Sharp population decline, and baby boomers leaving behind empty space, and also all the stress about budget concerns due to the large baby boomer generation getting pensions is also going to end at some point
@ayoCC The Boomers dying off won't help the pensions though. You have a lot of Boomers to be sure. But when they all die you will still have a lot of Gen X and those below over the decades while significantly less children and working people. It will just get worse. It depends on the country of course.
@@baronvonjo1929 The boomers are the largest generation by far and have a lot of assets compare to the others, tax revenue will be through the roof from inheritance tax, the problem will not get worse. Below them the demographics are much better distributed. The UK government spends most of its money on Boomers pensions and the NHS which is essentially all Boomers again. Peak death will be arriving in the UK within the next 5 to 10 years, the amount of people dying will never have been higher even including those war years. Nearly 900,000 boomers will die in a single year...the numbers are crazy. Over 10% of the UK population will just disappear in one single year. We are currently at "only" 667,479 deaths a year. To repeat the demographic mix is way way better underneath the Boomers. You forgot about immigration which is strange as that's normally what most UK people cry about in these discussions.
@@ayoCC You are incorrect. Look at what is happening in Japan, due to their older generation having less children the ratio of old vs young is very high. A lot of old people, not many working younger people, it is costing their country's finances quite a lot due to there being less young workers which you seemed to of ignored that part. Always pay attention to what is happening to other countries in the world because there is always a country somewhere that is where we are about to head to or have gone past it already.
The demand for housing in the UK was largely created by the Hitler's blitz. Also, as a curiosity, do you know when the UK made the final payment to the US for the WWII loans? 2010.
Agree. Very likely we r headed for a decade long bear market in all western assets. It will be a period of geopolitical n currency changes. Within US this is the chance to do the long-needed economic n social n government reforms. If we succeed, US will be on a long-term sustainable growth path in a decade. But we must take the pain 1st n do the adjustments. From investing pov, sell all US, european equities n bonds. Go long Gold and Crypto. Go long emerging market trade........ I have managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn’s, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Linda’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Australian cities are growing tower blocks and the damage is growing here too. They haven't seen the damage done in this disgusting mess. It's no place for children but, that's what happened.
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During the height of the British Empire. The empire went bankrupt just for importing tea and hence the opium war. The empire wanted the Chinese traders to accept opium as a currency. The situation was dire that the empire became the first narco state in history.
Post 2nd world war, a simple and basic thing as housing brought the UK to its knees and its impacts are felt to this day. It's perplexing, how simple things can be so complicated and a rocket science to some islanders. The age of printing money from thin air to buy sweat and real equity produced from the Asian markets and the refusal of using/accepting the printed money in their trade translate to regime change, assassination or war is a real problem in our modern times. They exist just by printing money and buying up from Asia - the sweat shop of the world. When Asians refuse to go to work for the whole world at 50 cents an hour because they realise that the money they have been working for was created by English speaking demons out of nothing and its value is held by holding a gun to the head of each nation. Then the west will die of procrastination, hunger, laziness, lack of basic things & tools.
What more ugly than Soviet mikrodistric . . That is homeless.
What more ugly than Soviet mikrodistric . . That is homeless.
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Do you know Jesus Christ can set you free from sins and save you from hell today
Jesus Christ is the only hope in this world no other gods will lead you to heaven
There is no security or hope with out Jesus Christ in this world come and repent of all sins today
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Heaven and hell is real cone to the loving savior today
Today is the day of salvation tomorrow might be to late come to the loving savior today
Romans 6.23
For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.
John 3:16-21
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
Mark 1.15
15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel.
2 Peter 3:9
The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Hebrews 11:6
6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.
Jesus
I know it might be more work to do, but one thing that totally disturb me in your video was the random back and forth every few seconds between historical footage and boring stock image content that look totally unrealistic like if it was no better than AI-generated.
The video quality would be good if you had found the needed twenty minutes of historical footage.
I lived in London for 4 years, it's unreal how they charge you so much for housing that is often bordering on squalor.
it seems to be a matter of luck, if your family has a decent sized council house, then your kids grow up and can move later back in, but if they have to move out, they have to share these old decrepid homes that have been carved into tiny rooms. I have to go back to the US because I can't find a decent place in the UK to rent, buying though is another matter
Britain is a fraud about to bust.
You can thank Thatcher (then Blair) for selling off half of the nations social housing stock. If onlyonly people had been willing to push for the option of decent, modern, council housing?
who owns the housing? the regular ones not the more opulent beautiful types..those are mostly outside oligarchs
I am a landlord in London and own flats I would like to live in.
40s: The problem is low supply.
50s: The problem is low supply.
60s: The problem is low supply.
70s: The problem is low supply.
80s: The problem is low supply.
Should the councils start building houses? Nah, more credit!
UK population has almost doubled since 1945. The war also destroyed a lot of existing housing, so there was a shortage even then. We just have never kept pace with the increasing demand. Additionally, average number of people per property has fallen dramatically, and decline of industry has made many areas undesirable. Even now there are plenty of affordable houses available, but not in areas people want to buy.
@@jrd33 I feel like "decline in industry has made many areas undesirable" is the bigger problem.
The UK is a small island by comparison, but over in the US all industry focuses to the coasts, and even then, the coasts have very specific areas of concentration and the same cities are always the places that businesses want to set up (prestige now, as for many tech companies I highly doubt access to a seaport matters), and the rest suffer.
@@jrd33 america is currently collapsing because they did the same thing by choice
More credit made sence when there was something making money.
Like mining and manufacture and domestic services remaining public.
As long as that is OK then there will always be credit to draw from.
Oh yeah... Thatcher.
With zero immigration since 1990s you wouldn't have this problem. Its almost impossible to have a decent supply with this immigration level.
It feels like it's been flying under the radar compared to other global issues, but there are serious concerns about stagnant growth, rising debt, and increasing inequality.
Yeah, it’s worrying. the UK has been grappling with slow economic growth for years now, especially after Brexit. There’s also the cost-of-living crisis, high inflation, and stagnant wages, which are squeezing the middle class. And let’s not forget the national debt, which has ballooned after the pandemic.
These issues could leave the UK in a vulnerable position, especially if there’s another global downturn. Plus, it feels like the focus has shifted elsewhere, which might delay much-needed reforms
some analysts are saying this could be an opportunity for the UK to rethink its economic policies. Maybe this forgotten crisis could push policymakers to focus on innovation, new industries like green technology, or even reworking trade agreements to drive growth. A crisis could be the catalyst for deeper reforms that are long overdue.
That’s true. A lot of times, crises force governments to confront the issues they've been avoiding. If the UK can channel resources into the right sectors-like tech, renewable energy, or infrastructure-it could lead to long-term growth.
There’s also a chance to address regional inequalities by investing more in underdeveloped areas, like parts of Northern England, which could stimulate local economies. but it’s still a tough balancing act with inflation and debt looming over everything.
Our economy is facing challenges due to uncertainties, housing issues, foreclosures, global fluctuations, and the lingering effects of the pandemic, all contributing to instability. With rising inflation, slow economic growth, and trade disruptions, it's crucial for all sectors to take immediate action to restore stability and promote growth.
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
Mind if I ask you to recommend this particular coach you using their service?
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
Thanks for sharing. I searched for her full name, found her website immediately, reviewed her credentials, and did my due diligence before reaching out to her.
Visited the UK in 2008, pre-GFC when it still gave the illusion of a booming economy. I looked at the housing conditions and thought: surely it can't be worth earning slightly more in the UK to live in such dilapidated housing, when one could be living much better back home albeit with lower nominal income. Quality of housing has a massive impact on one's daily life, it's not something wages can compensate for.
Interesting how modular housing is never considered as a solution when the question of housing standards comes up.
What is your "back home"? Where are you from?
@@brodriguez11000 In the USA it has been fought by construction unions and the legal industry. The cost of building a house is vastly inflated by the cost of permitting, inspections, approvals, other legal costs. All of these groups saw cheap (prefab) housing a a threat to their incomes. The "Tiny House" movement is a reaction to this.
A better standard of living can easily be acheived without high wages.
@@emmaearnshaw3282 You need to explain that one!
First time I ever visited The Netherlands my first impression was “this is like the UK but if it had competent leaders”. Similar architecture and geography, but much prettier and better maintained, people look happier and healthier, it’s like a parallel universe version of Britain.
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Could you be kind enough with details of your advsor please?
Personally, I've stuck with Stacy Lynn staples and her performance has been consistently impressive. You can confirm her basic info on the internet, she's quite known in her field with over 15yrs of experience.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Never underestimate the willingness of the greedy to throw you under the bus.
You mean "democracy"?
..
Do you know Jesus Christ can set you free from sins and save you from hell today
Jesus Christ is the only hope in this world no other gods will lead you to heaven
There is no security or hope with out Jesus Christ in this world come and repent of all sins today
Today is the day of salvation come to the loving savior Today repent and do not go to hell
Come to Jesus Christ today
Jesus Christ is only way to heaven
Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void
Heaven and hell is real cone to the loving savior today
Today is the day of salvation tomorrow might be to late come to the loving savior today
Romans 6.23
For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.
John 3:16-21
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
Mark 1.15
15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel.
2 Peter 3:9
The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Hebrews 11:6
6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.
Jesus
The rich get rich while the poor get poorer, ain't that the way that it has always been.
@@BulgarianForever2❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
The housing crisis in the Anglosphere can't be solved or even reduced significantly because:
- The voters won't accept any solution in which they don't get to own a house
- Those voters wishing to buy a house need for prices to drop or at least stabilise, the minority of voters
- Voters who already own a house, the majority, need prices to appreciate so that they avoid negative equity and accumulate wealth for retirement
- The taxpayer must finance all housing either through taxes to build public housing or through huge mortgages to acquire their own house.
So good luck to the politicians trying to solve that one.
Asset welfarism is great if you have an asset, but it is also the death knell of working until you die to keep your landlord's children's wealth fund topped up.
In just over the last twenty years even the worst of housing has increased in cost buy 4 times the price it was being sold for. 20 years is the historical doubling rate for the last few hundred years. Most housing has increased faster than that. Wages in real terms have not kept up with that market at all and barely kept pace with historic devaluation of specie.
Do nothing and let the market control itself seems like the best solution, everything that the government touches gets worse
It is not just houses as a raw number, it is having the houses where there are jobs and services. Pleanty of houses in towns that are failing, just no job market to stop them from being ghost towns.
karma
I love how then (and now) governments are trying all kinds of bizarre ways to solve the housing shortage, except actually building more houses.
Living standards in the UK have struggled to advance, particularly in the realm of housing. Modern British homes often lag behind those in other developed nations, both in terms of amenities and size. With an average size of just 80-100 m² (860-1,080 sq ft) for a single-family home, British houses are significantly smaller compared to those in France (130-160 m²), or Spain (130-160 m²). Even Japan, with an average of 100-120 m², offers more space than the typical UK home. In terms of housing, the UK is undeniably at the bottom of the table.
Unfortunately, this issue is unlikely to be resolved soon, as the UK has consistently made the wrong choices along the way. New homes are still poorly constructed, too small, and inadequately spaced. Planning regulations remain overly restrictive, and past failures in apartment building have left many potential buyers wary of such options. Additionally, essential features like garages that actually accommodate cars or adequate cooling systems for increasingly hot summers are often missing. Simply put, the UK seems to be getting everything wrong when it comes to housing.
Over my lifetime the UK's has advanced steadily on the Human Development index, In fact it scores higher than all the countries you mentioned. Housing is a weak point especially affordability but that's common to all developed nations.
Canada went the same way as the US with low density car dependant sprawl of single family homes. Yes they are big and spacious but it comes with ridiculous house prices and really poor town planning. Second largest country in the world and rich, They could have built anything and they chose to build the 401.
No one is going to move to remote locations where you can't grow anything, transport options are poor, and there are no jobs. If you build next to the 401, you are building in an area where there are jobs, where there are good transportation links, and you can actually have a garden. It's expensive because it turns out that everyone, including the 1.2 million people we take in every year want to go to places that have transportation, jobs, and mild enough you can grow food. Canada has to do a massive infrastructure investment, like a multimodal transportation corridor or roads, rail, and pipelines across the higher latitudes just to get the cost of transportation down low enough, to bring basic materials to start a construction project. We are talking thousands of kilometers, tens of billions of dollars, crossing the jurisdiction of provincial politicians wanting a cut, just to get the transportation to open an area up. Easier to just throw the money to build where the 401 is, or any highway that brings you to a large market. There's a reason why the saying "people come to Canada to escape history, only to ben overwhelmed by the geography" exists.
Maybe because your country is small with many people?
@@SRParsonage LoL if there is a index that implies the UK has been advancing over the last decade and a half that index is broken and useless.
Canada has a housing bottleneck because its a relatively small economy in a very large country, THe UK has a bottleneck because ...British people acting British.
Thatcher changed the building standards to make cheap small houses the norm, an other thing she fucked up. Thanks, may she rot in hell for eternity.
Having recently visited England as a European, I honestly got a culture shock at how bad your living standards are. Your houses are still stuck in the 70-80’s. Shockingly low standard.
Houses from that era are not even considered old here
My house in the UK was built in 1906.
Depends on where you live. If you live in one of those awful rows of houses in the inner cities where most migrants live then they are awful but the more further away from the city in to the suburbs and smaller towns the houses become bigger and better with Very large gardens
Why do people identify as "a European?" Just say what country you're from.
We are a poor country and always have been yes we have london and it's surrounding environs which give us a veneer of wealth but take that area out of the equation and we are a second world place. We are an island not connected to the great Eurasian land mass we have a rigid class system and a massive skills shortage so it's nigh on impossible to get big international companies to invest here especially outside London the economy is mainly deliverroo and zero hours contracts or services where one brit will pay another brit for scratching his arse very little if anything is made and sold on the world market to bring in wealth.
Ironically, most theoretical utopias I hear that gets pushed into reality turns into some form of dystopia
Utopia can only happen if revisions to making wrong bets happen quickly, but also while trying out new legislative ideas more frequently and in multiple parts of the country, also give smaller political actors more power and financial room to do what they need to invest in their own towns and cities.
Experiments shouldn't be done on such a large scale, instead it should be more within special zones to test out
Honestly, seems like its good to let capitalism generate wealth, and use taxes to help make sure it benefits all.
@@monkemode8128the UK has high regressive taxes on the poor (an example would be a fine for those on disability who have an extra room in their home, such as one used to store medical equipment) and very low taxes comparatively for rich people (just look at private prosecutions entirely funding the prosecutions costs). I agree that if we’re gonna be in a capitalist economy taxes are a necessity, but the way the UK does it is honestly the worst way.
A patchwork of small projects usually works better than one giant project
The biggest “utopia” being the promise of lower taxes and regulation especially on corporations, where that new wealth would supposedly “trickle down” to the average worker instead of getting squirreled into havens by the owners.
I've been to over 20 cities and towns in the UK. It is ugly indeed. Broken public facilities are seldom fixed properly. Potholes are filled with useless materials just to be washed away within weeks.
Empty shops are commonplace on High Streets and many retail parks.
Empty sites sitting under the sun (or more precisely in the rain) and nobody is interested in developing them.
People are so poor and businesses are keen on saving costs that they don't turn down the heater to an uncomfortable temperature just to save a few bucks.
As a UK resident, I don't hide my honest opinion and am looking for better places to live and retire.
People often come here and feel much colder than they do back home because of how cold our buildings are.
@@CamelCasee they were colder back in the day. I grew up in the time when central heating was a dream. It was frigging freezing then not cold. We had no hot water unless you stoked the fire for a couple of hours either. Don't tell me the old days were better, you are nuts.
@@paulnicholson1906 Where did I say that?
The major problem with housing policies is that no matter how you manage to solve one aspect to the problem, you inadvertently create a huge new one. Then you combat that and we're eventually back to square one.
Yeah. It seems to be a 'damned if you do, damned if you don't' kinda situation. Doing nothing never seems to be a good option and everything that has been tried has had unintended consequences.
What it comes down to, always, is human greed. There are always people, who are willing to screw everyone over and those people will always rise to the top (it seems). You can't regulate that away. And if you try, you create a system that is so stifling to innovation and self actualization, it's like trying to drive with the handbrake drawn. It's so depressing.
@@raraavis7782 Cheer up, though. We've been through way worse, such as plagues. It's just the policies politicians make make us think they're magicians, whereas there is no magic card out there.
How about, and hear me out here...how about *build more houses* . That seems to be the only thing that people refuse to touch.
@@jabloko992 from a US perspective. I think many people who already own houses are counting on the value as a hedge against inflation, and building more houses are similar to printing money when houses are used primarily as substitute money and secondarily as shelter. If the government stop printing money or switch to a hard currency, much fewer people would have to rely on homes as a substitute hard money. Only then will land use restrictions have a chance to be lifted to allow developers build more housing units.
@@DAWN001 I am aware of this, but the thing is, with the price of property so high, you have to wonder about what else that money is *not* being spent on. A house that has been there for so many decades doesn't require day-to-do-day work (other than cleaning) and doesn't produce anything else economically.
Compare that to those people having that money instead to spend on goods, investments, starting businesses, buying government bonds whatever else, that stuff stimulates the economy, gives people jobs etc.
Turning off "the tap" for houses means the price of housing goes up, which means the price of *everything* goes up, people get angry and divided and start fighting each other etc.
A government should be able to a form an opinion majority against such an issue.
Britain seems to keep re-entering periods when A Christmas Carol feels like a documentary.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Too many people in Authority often see concepts like supply and demand and freedom of choice as silly and insignificant, they see people as just commodities that don’t need to be given due consideration, it’s happening again now.
No, they put too much focus on controlling supply and demand simply from a monetary aspect. Countries where the government engages more in getting affordable but quality houses build directly have less of those issues.
@@tomlxyz by build directly do you mean the gov building it or giving building companies better incentives (lower tax/less unnecessary regulations)?
@@homieinthesky8919 less regulatios = poorer housing especially in the uk
@@dietcab-kem6142 buddy its less regulation as in requirering less permits to BUILD high density housing. You need numerous more permits to build 1 high rise condo with 20 units on land the size of 5 single family homes than 20 single family homes which is what most cities who have a housing crisis atm do. Regulations isnt just materials, safety and health, its permits, fees and general incentives. Countries without housing criseses litterally have less regulations in terms of zoning laws and the number of building permits (many in europe by the way).
Hence the fact that in corporations, personnel are now called human resources....says it all.
Part of the problem is a lot of the UK housing stock is really old even by European standards. Cities are still full of endless rows of tiny terraced homes many of which are now over 100 years old, and some significantly older than that. It's a legacy of its industrial past when many people worked at a local factory and lived very close by. Practically all of the urban industry is gone now, but many of the houses remain. The first attempt to renew housing stock after WWII was partly successful but also resulted in a lot of ugly concrete tower blocks built on a very tight budget, looking quite similar to the soviet "commie blocks" being built on the other side of the iron curtain. Most of these were not built to last and are gone now. That reputation pretty much killed off the desire for high density living among the working and middle classes, as something only for the very rich or very poor. You don't see a lot of modern European style apartment blocks in the UK because of that experience. So people look to the suburbs, but unlike in some parts of the US there isn't endless land to build on so suburban homes have been shrinking and shrinking until they're nearly as small as those urban terraces that remain.
There's no easy answers, whatever you do is going to piss someone off. People living in those tiny terraces still generally need a lot of persuading to move out so density can be increased, and you'll get cries of gentrification as the new apartments inevitably end up being sold to rich yuppies while most of the locals are banished to the outskirts. Conversely, people living in the suburbs and countryside don't want to see it concreted over with more Barratt boxes, and don't want their narrow roads snarled up with traffic and local services overwhelmed with new arrivals.
Happening to the US as well. Farmers complain about the slightly increasing amount of suburban houses, suburbanites complain about the influx of people fleeing urban prices.
They are building suburban houses all around me here in the US. They have 4 bedrooms and thr blueprint and layout is that bad I guess.
But they are so poorly made. I walked into one and could see light from other rooms under the walls. Cheap carboard wood and terrible craftsmanship.
The houses look dystopian because they only have a few differences among them. They are really really expensive yet they have tiny yards and nowhere to park the cars. Cars are all over the street because every member needs a car to do anything.
They are building them everywhere yet housing prices just continue to go up and up.
They are also building apartments everywhere, yet I can't really see why anyone would want to move into a rental with strangers next door. They are so expensive too for something you'll never own.
@@Croz89 agreed. What in the 1880s were modern beautiful terraced villas, are now overcrowded and expensive to maintain starter quality homes with no parking. Plus, when every you do anything to them, your now uncovering 140 years worth of bodge-jobs and people doing things on the cheap.
I helped a friend of mine redo her kitchen recently. We found a fucking radiator behind one of her kitchen cupboards! The old owners hadn’t even bothered to switch it off and it had been leaking into the floor for decades.
tl;dr NIMBYs are a scourge
@@sino_diogenes Well, yes and no. Both sets of residents have legitimate concerns, the urbanites don't want to be priced out of their area, and the suburbanites and rural folks don't want to have their peace and quiet ruined by more people and traffic. Considering the UK's poor track record of building adequate infrastructure to cope with the expansion of suburban and rural settlements, and the lack of provision of affordable housing in cities, you can see why some people might object.
"Will Britain repeat the same mistakes now that the cost of living is the highest it has ever been?"
LOL absofu**inglutely
"Was any of this legal?"
Absofuckinglootlynot
I laughed at this. I hope to all my Bri’ish brothers to overcome those difficult times.
Street shitter
Any given day in the future will be the highest cost of living ever. Deflation is possible but it’s rare and usually part of a depression where cheaper groceries or housing are the least of your worries.
@@wcg66Yeah, fiat currencies pinned to each other make deflation unlikely, I agree with you.
The problem isn't a lack of homes. It's homes in areas that don't have employment. There is only so much space in the south east. Employment needs to be spread out from the south east.
No mate it's toooo many people.
Most of these new homes were council houses, which weren’t available to buy until the 80s and the ‘Right to Buy’ scheme.
You are comparing the council houses to 1930s homes built for the wealthy when it should be compared to the terraced slum housing it was replacing.
Also the old council homes that are in gentrified areas are generally quite nice tbh. Lots of them were built to quite high quality it’s just neglect and vandalism over the decades that makes them look shit
Yeah this happens in every sector.
People talk about how everything was indestructible back in the day but it was all twice as expensive.
@@thebenevolentsun6575 Twice as expensive, but lasts ten times as long.
@@jambott5520 Yeah? Old stuff wasn't better though it was just more expensive.
You can still buy furniture and clothing that lasts a life time you just have to pay more.
My point was that people compare cheap modern stuff to expensive old stuff then say old stuff is better than modern stuff.
Like the commenter said, old houses weren't built better than modern houses its just that all the cheap slum housing was knocked down and all the expensive well built housing survived.
@@thebenevolentsun6575 I disagree. The houses built for working class folk back in the thirties outlasts anything built today. And I've had both. The furniture that 'ordinary' people bought is much better than that bought today. You can get quality, but it's outside what most people can afford. But today, everything is intended to be disposable, obsolete, not fashionable, so you can buy the same stuff again.
You know what's not ugly? Englands lovely houses of the robber barrons that are the aristocracy. They are splendid.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy >>and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
he often interacts on Telegrams
Because of Brexit, I now live in Germany where folk buy a piece of land then build their house to their own design and feel embarrassed by often shoddy, tacky identical boxes when I visit the UK. No-one seems to care about the appearance. Boring uniformity seems to be the unfortunate life choice for brits as regards housing. Neighbourhoods are dreary and apparently designed with no desire to please the eye, just get the identical boxes up fast and cheap. Gardens are boxed in like prison excersize yards. Take a look at great little villages out in the UK countryside and then compare them with inner town or city drudgery. I don't understand this world of difference. Having said that, crumbling housing in the sun in Italy passes as "romantic", but in the English rain they're just crumbling.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
he often interacts on Telegrams
The trickle of money into tax havens which began in the last century has become a flood. The total now held in offshore banks is estimated at 10% of global GDP and rising.
Britain alone launders £90bn each year, according to the National Crime Agency (NCA). The figure includes the proceeds of almost all serious and organised crime committed in the UK, but also a significant amount of the corruptly obtained assets of politicians and public officials from overseas. This loot finds its way mainly into the housing market. Companies incorporated in the UK’s network of tax havens own 57,000 properties in Britain. Of these, 16,000 are in just two London boroughs: Westminster and Kensington and Chelsea, according to research by Global Witness.
This is high-end money laundering, and it is a thriving British industry staffed by a network of what the NCA describes as “professional enablers”, who in exchange for a fee will turn a blind eye to how the cash was obtained and who really owns it. The key actors here are lawyers, bankers, accountants and a loosely regulated but vital part of the chain - fiduciary service providers.
Sees the graph; googles when Thatcher came into office; Yep, that tracks
Always comes back to that witch with a B.
Thatcher and Reagan were some of the worst things to happen
Same with wages in the US and the elites getting ridiculous richer.
@@bullydungeon9631used to idolize Reagan in my younger years then I realized he traded long term sustainability for a few years of economic dynamism
I don’t get it. Is economic growth 10 out of 12 years a bad thing?
So many problems caused basically, and let’s be honest here, by NIMBYs. All the shenanigans over lending controls and interest rates weren’t ideal, but basically the UK just wasn’t building enough houses of sufficient quality in the right places.
Funny how the more things change the more they stay the same.
Once the countryside is all concreted over, it's gone forever.
The problem that people object to with new developments is that they build the housing estate but they don’t build the infrastructure that is needed.
Round my way there are massive amounts of house building and they are then surprised when the roads get blocked.
Our GP was never a problem about 10 years back but now I can’t get an appointment.
There isn’t enough space in the schools.
Is not nimbyism is a practical resistance to unmanned development. I’d we really wanted to sort it out we’d be building more houses in the midlands and the north with infrastructure linking the new developments back to London and the other major hubs like Manchester, York, Leeds Birmingham etc.
@@davideyres955 The smart people all left the UK over the past 100 years.
The Victorian housing that was pulled down to make room for cheapo 1960s housing was in no way worth keeping. I was around at the time and should know. In fact, I remember how whole city areas of decrepit, rat and cockroach infested terrace housing, a lot of it with leaky roofs, outside toilettes and rising damp, were cleared for redevelopment. Maybe the quality of the housing that replaced them was questionable, but still a huge improvement.
So was not the problem more the lack of investment and maintainance than build quality?
@@antispindr8613 I'll give you an example as an answer. My late parents' house, built in 1902, a typical terraced house in the suburbs meant for a middle class family, had a roof made of quarried grey slate and outside cavity walls of double fired red brick. It's still standing with the original slate roof and brickwork. Even the chimney is original. Only the pointing and the windows have been renewed. The material of the houses built in the 1960s is of far lower quality and won't ever last as long even with a lot of maintenance.
From the US - nice to see that we aren't the only ones having a hard time figuring out how to balance economies. I hope Brits finally get a chance to own their first houses; as a first-time home buyer myself, it is a fantastic investment that provides continuing benefits for as long as you have the home.
“It’s a fantastic investment”. And thereby hangs a large part of the problem. Why is it “a fantastic investment”? Because it’s in short supply in the places where people want to buy it. So people buy property “as an investment” rather than simply as somewhere to live. OK so what else does that do? It ties up capital - both equity and debt funded - in property, which starves other applications of capital (eg investment in innovation, industry, infrastructure). In the U.K. a huge amount of national wealth is sunk in property and a huge amount of private debt finances property. This is not a criticism or snipe, by the way, I am as guilty as everyone else as I own a house, in a system where it isn’t possible for the individual to make any difference by getting of the merry-go-round.
Nick Johnson - You Tube
@@davidpaterson2309 Let me clarify: I've lived in the property I own, and in just a small number of years, I've seen the value double. I realize that people see ownership purely as an investment to see the value go up. That's unfortunate as it has locked a lot of people out of certain markets. But for those who got lucky or otherwise managed to avoid murderous interest rates (I made a cash deal, so no mortgage to fear, and I know that if I cashed out this second I'd get close to 2x what I paid).
I imagine it varies from place to place and depending on the time of purchase. But again as a first time home owner who has lived in their first home, it has been a fantastic experience.
Yes, but the Americans have always been dumb, the British only became dumb in 1971, when Trickly Dicky Nixon took the US dollar off the gold standard, and send the western world on a downward trajectory. Then the US military developed the internet that allowed everyone in the world to learn how to beat the US and the rest of the west down. Now China and the rest of Asia are getting rich and the west is going broke.
It seems like the moral of the story is that you need to increase supply. It does not matter what economic games you play if there is not enough supply.
Rents combined with taxes are destroying small businesses everywhere, but especially in UK cities.
People are wore out being frustrated, disappointed, and left feeling unrepresented, if not feeling betrayed.
It seems that's there's more than enough big brother government in our lives, but it's always disproportionately distributed.
My first house was tiny all 5 of us lived in 1200sqft. In the USA. Now they don’t build houses that small either your in a flat “apartment “ or they usually start at 1600sqft. My sister lives in a 4500sqft home and it is like a mansion. Either your poor or upper middle class in America because all the manufacturing left, so now either you live in an apartment or you own the apartments.
All the manufacturing have not left the usa .usa manufacture 2.5 trillion worth of goods
@@Arigottaaadaracmhaand it's still not enough to actually bolster the middle class like it used to. Most jobs aren't paying enough to actually bolster the economy, yet they want people to spend more.
I own one of said late 1960's homes..... theres no way I would swap it for a new build. Just the missus and self bouncing around a 3 bed house with the mortgage all paid off.... holiday after holiday.
There seems to be an aspect that is getting conveniently forgotten, the UK industrial sector and economy were transitioning from a colonial economy with captive markets and preferred raw materials sourcing to one based on foreign trade market relationships. Many companies weren't able to make this transition, and much of the UK's previous investment abroad had been heavily financialized. This meant that private investment languished, and the industrial sector was in steady decline.
The lack of housing wasn't really the product of the baby boom, in the 60s they were children. It was caused but lots of it being blown up. It took decades to even clear the bomb debris.
And Victorian housing was awful. It was built in a hurry by factory owners to provide staff. They weren't that bothered with housing quality. Or running water. People didn't have inside toilets and used communal washing facilities. Most people were glad, at least initially, to get a council flat. If only for the central heating..
But since council houses many were relatively well built, was not the problem the lack of investment?
@@antispindr8613- real problem in Britain is that it’s virtually impossible to buy your own land to build on. You buy a second-hand home with its historical problems or you buy from a developer, who will sell you a chicken-coop house built as cheaply as possible.
@@antispindr8613
If there was no central bank, banks would have to collapse when they made too many bad loans. This would, among other things, lead to a limit on credit availability and a decrease in inflation. But since the government is the lender of last resort, and since politicians wanna be popular, interest rates stay abnormally low and credit flows endlessly. And that's where we are today. Factoring the real rate of inflation, not the phoney government statistics, the real rate of inflation means interest rates are effectively negative. Banks are incentivized to give out loans that will surely go bust. We are liquid but not solvent, paradoxically.
They learned their lesson from the Great Depression that when the public has no faith banks will survive, they do a run on the banks which spirals out of control. When inflation gets below 0, deflation, it is a far bigger issue than inflation because people stop spending and unemployment follows
"Little had been done to fix the supply side of things" - UK Housing Market est. 4000 BC
Damn Roman Empire should had build more houses in UK
🤣
The Tories have ruled 75% of the last 100 years , who do you blame. The rich never suffer.
You probably think higher taxes and more draconian laws will help 😂
Hell no
The labor government while wanting to do good, failed from their incompetence and ignorance. Just because the tories rules for a long time, doesnt say much. The crisis was started by the labor government.
No they haven't. They've ruled for 68% of the last 100 years.
@@d_all_in Higher taxes for the wealthy, people who earn more than $5 million a year, by just 2%, and put the corporate tax rate to 27% and that alone can pay for a lot more services for the people.
@@BatMan-oe2gh why not just tax everyone 100% and provide every product and service through the government?
Are you sure the Crisis went away? Because your description of the 1960s to 1980s, is scarily similar to the housing market of 2024, except the demographic crisis is an ageing workforce+below replacement birthrates = immigration + hollowed out public sector burdened by debt= housing crisis. Are we missing something here? Do we need a part 2 to this video?
It's been crisis after crisis after crisis after crisis, for all my lifetime at least (born 1958).
To an economy, the biggest crisis is always the lack of productivity, which has been declining because the government lacks proper policy to make Brits happy to take full-time jobs and work extra hours.
Married couple who have children cannot do full time cos child care is ridiculously expensive. On the other hands, there are many jobs the local British refuse to take and we rely on immigrants. Yet, we are not happy with the immigrants as they drive the housing demand up
At the end of the day, the problems of Britain are Brits ourselves.
@@JLCC2022 Declining birth rates are a worldwide problem. Immigrants seem to be the general solution for most countries.
@@JLCC2022 The BBC comedy "Yes Minister" (or was it Prime Minister, cant recall, either way I recommend both shows!) explains the solution to this; Anyone able bodied, refusing a job offer will not be eligible for benefits.
Aside from how horrible a policy this is towards actual human beings, there is no question that the western world in general has to start changing its attitude towards people that do not work despite being able to.
I for one know of a woman sucking up welfare for the better part of a decade in Denmark, and the reason she refuses work is because she insists on a job in the civil service, nevermind that she could easily pull off working in a nursing home doing the more light work and free up more qualified hands to do their core task better....
But no....alas.
Add in immigration and the reality of work ethics being somewhat cultural and...well...
Honestly am down for scrapping the pension system, no retirements, inflate the piss out of the economy until people in retirement has to go out and work, passivity taxation for the able bodied that do not work, lets say, 10% of net worth.
I know, bit millitant and aggressive, but hey, am Danish and spitballing into a random void, so uh, hardly news to you lot that we can be this way!
It's disconcerting to see how little we all learn from past mistakes. History seems bound to repeat itself forever.
Government officials not learning from the past. Politicians tend to be disconnected from the world.
And the public keeps voting for the same two parties.
Housing is always a supply issue. People need to live and a place to live.
If they can’t find a place they’re homeless or in awkward, substandard housing with way too many people to stay healthy.
Lessons need to be learned today.
Thank you for this background. In 1966 I was able to buy a small but adequate house AS A POST GRAD STUDENT. In 1968 I had to move to other end of the country for work and was able to buy another, not very splendid, house even before the previous house was sold. In 1970 moved again, sold 2nd house and bought 3rd, on mediocre salary. My experience was that there was available credit and affordable housing.
Lending limit was 3x annual salary, and even on modest salary that was sufficient to buy adequate home.
My Grandchildren will be lucky to ever get on housing ladder despite good prospects.
House price inflation is not an English problem. The USA has a housing crisis and e.g in Germany stricter building standard make new builds even more expensive, and certainly too much for social housing.
Economists and politicians seem unable to find a way to provide all citizens with affordable homes.
I just read an article called "Is the UK Becoming A Third World" Country in The Luxury Playbook that says exactly what you describe and goes even more in depth. Unfortunately we are doomed.
Just to think that the UK even while negotiating the Brexit deal was still seen as a generous labour market (at least to expats like myself). 3 years since I left the Black country, no plans of going back, yet I still want the island to get back on its feet. It has some decent people there.
Ireland is much better
@@horatiotodd8723 was
Dream on, dream on
Glad to hear you think a country of over 65 million has 'some decent people'.. What a donkey.
Where did you end up?
I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $50K per year but nothing to show for it yet.
Sincerely it's best to seek an advisor right now, unless you're canny yourself. As an eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Exactly, why I stopped taking financial advise from RUclipsrs, because in reality I end up with a collection of confusing stocks. Whereas, all I needed was a real market expert to have made over $350k in less than 2 years.
I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
“Jessica Lee Horst” is a hot topic among financial elitist in The US. She's gained some reputation for her works during Covid. All the info. you need to set up an appointment is on her web page.
Just looked up her full name on my browser and found her site without sweat, over 15 years of experience is certainly striking! very much appreciate it
The houses on my street, when they were originally built, were the smallest in the neighbourhood. However, because they were so small, they were too small to subdivide. So now all the other houses on surrounding streets have been subdivided into 2-4 flats, so the houses on my street are actually the biggest remaining.
The law of unintended consequences, eh?
I lived in London for almost 13 years and indeed housing was terrible and completely unaffordable to most.
It's unaffordable because london real estate is in high demand and lack of availability pushes up the value.
I am now aged sixty, born in a pit house in England and today live in Tasmania.
The answer is both complex and simple.
The simple:
People once had a community. An extended family of existing not apart but with each other. A cup of sugar borrowed a family struggling once held together by the fabric of 'getting on with it and caring about our community'.
Heads held high and proud of a job, any job and selfishness was frowned upon.
Imagine a glue or community safety net where people raised each other up and sometimes literally.
The Complex:
A devastation of social cohesion a decimation of giving a hoot about ones extended community.
An essential expectation that someone shall fix everything for you and then blame someone else is now the norm.
In the moment and problem solving realising only YOU can help yourself to rise to better places.
Cooking cleaning making do and mending replaced by Uber eats and reliance on others to fix everything.
No community no preservation through numerous voices supporting you.
Squashed and vanquished to a pathetic trodden crumb awaiting existence by the Tory boot.
The Solution:
Get out. I cannot afford what it is I would like to say for there is indeed little hope. Get out and go wherever and however you can or sink with HMS Britain.
Tasmanian expat here (now living in Melbourne).
So many people cannot dedicate the time to cook, building a neigjbourhood, mend etc due to having to work.
Not to mention food insecurity is an issue for many.
@@bcgibson22 Absolutely, but I measure that we ought. People have adapted to this modern world and along the way created what was once perceived an 'easier life'.
Yet that easier life leaves people incapable when the chips are down to manage, to survive and live.
Even the most basic cooking skills neglected for fast eats fast fix. Allowing themselves to fall prey to dismissing the basics of life.
How many women today or young girls can sew and fix an item of clothing? How many even bother?
A dozen eggs some flour and potatoes along with cheese and veg and many meals available to those that learned to juggle growing up.
Whilst it is true none is ideal for we all wish to have better, that crux of existing by oneself against the struggles life befalls is a vacant lot.
Society has created a bed for all to lay in, unless we see with our own eyes and go back to basics.
Tasmania is a a really beautiful place to live, I'm told.
@@mitreswell Yes it is indeed. It is my home no less than I feel born here.
Today and still, people in rural areas give a damn. Still today people chip in to help people to rise up to stop them falling.
Tasmania is rugged natural and beyond beautiful. My life today is studying the majestic wonderful wildlife. From Tiger snakes to Wedge-Tailed-Eagles from fauna to flora the sky the land and marine.
It is my soul. An external expression that lives along with me, not separate not somewhere else.
Yes I know, I am home. :)
@@bcgibson22 Today, people spend far too much time surfing the stupid internet and watching RUclips videos to do any work.
Odd for the British to have gone with Rube Goldberg rather than Heath Robinson.
the idiot that made this video is mixing up all sorts of things, graphics are all wrong too, $ signs over very modern homes, its all nonsense
Damned Yank.
I played on google maps before and went along exploring the UK. I was confused visiting the outskirts of London and some quaint towns because some of buildings looked dilapidated and already depressing because of the gray skies. I was like “no way this can’t be what people are living in, they have a higher HDI than the US but the homes in America look better off than in the UK”.
The UK is dying slowly
Getting what it deserves after aligning with the Europeans to embargo the Commonwealth for generations then taking a dive out of the EU. Treachery never pays.
Not that slow now. Labour are hitting the accelerator.
No worries, the marauding hordes will fix it for you
Right to buy without the responsibility to replace the sold houses imo is what ruined everything, there were things before and after but it's right to buy reducing already low social housing numbers that tipped things over the edge. I've been unemployed for over a decade and have a patchy (but improving) credit rating, when I received the letter giving me an assured tenancy for my council flat I was told I also had the right to buy it alongside all the paperwork I'd need to start the process.
The whole ‘if we make money available, private developers will make houses happen’ has such a childish ring to it. Like wishing and superstition replacing strategic planning.
Finally more uk-centric content from this channel
Poor craftsmanship in any scenario is never the right decision. Trying to do things cheap to maximize profits is disgusting.
That said, doing things cheap when doing them expensively is not possible is how world has always worked.
My house was built in the mid sixties (I live in the north of England). The rooms are far bigger than the adjacent pre-WWII housing (2 reception rooms but a tiny kitchen and 3 small bedrooms including one which was barely a box room). It's got a huge lounge and kitchen and large bedrooms. This is normal for the towns and villages in my area. The area I live in was a small village post-WWII. In the fifties a huge amount of social housing was built and in the sixties, hundreds if not thousands of private houses were built in the village.
My parents bought their first house at this time. My dad was an engineer working a lathe and my mum was training to be a radiographer - neither particularly well paid. Yes, the houses did use cheaper materials that those used in the fifties housing but they were so much bigger.
They got a mortgage when many people were being declined but the interest rates were good and the houses cheaper than older houses. They nearly lost their house in the seventies, when the interest rates shot up and the housing market boomed.
I often wonder if the mid-sixties was a period of time which evened out the North-South divide a little as housing from that period in my area is great and so much better than modern cramped pokey housing.
My house was built in the early 80. I know because I’m renovating it at the moment and found a Kit Kat wrapper. 15 pence and had a use by date of 1982. 😂
Every time I think the US Government is doing the wrong thing, I check out a video on the UK Government and I begin to feel a lot better.
Dont be cheated, US media never criticizes the govt, a well known fact, but Brits and British media heavily criticize anything British. So you really never know how youre politicians are fu*king up your country too
All governments in the world r completely fuked off! Every last one of them
1929 = 2029. Now does that feel better?
Keynesian economics: Town and Country Planning act.
Restrictions on the supply of housing will always lead unhappy endings for most.
Those who get rich by speculating usually deserve to: if the government and NIMBYs set the rules, fair play to anyone who beats them.
The lesson is clear, the goal of private enterprise is profit, not providing affordable products. To provide affordable housing, you build affordable housing.
One thing the USA has is it is fairly difficult to change policies quickly. The filibuster in the senate really keeps rapid changes from happening.
8:20 I hotboxed that spot in the 90s
You're a stoner harry!
People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
truth is that gold serves as an inflation hedge in the long run, but not profitable in the short run. only thing you can predict is a strong effort of wealth transfer from the people to the powerful. luckily some folks find solution in financial advisors
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you
Stacy Lynn Staples is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Reason: it practices American financial capitalism
Notice that every country that does are literally in the same boat: Excessive debt and exponentially high inflation. 🤓
I'd argue that relaxing credit restrictions didn't necessarily cause an increase in housing prices, but rather it allowed prices to more accurately reflect the state of the UK housing market
Refusing to set minimum standards earlier (and I believe the Tories removed them again in 1979?) was the issue. Why would a developer build 7 spacious houses when 10 would go on the same plot?
Minimum size standards hurt the poor and urban dwellers
Stop trying to control the market and you'll be better off
@@d_all_in It is the lack of control on the market that started it all to begin with. Don't you pay attention?
@@Kryterngot to beat them at their own game government should play the market so they don’t play the government.
It cost more to heat a spacious house, it cost more to maintain a spacious house and it will cost more to purchase it when it is at the whim of a fluctuating housing market. It's not the house sizes that are the problem, it's the overwhelming demand for them. We go from moaning about the lack of available affordable housing to moaning that they're not 4 bedroom mansions with an attached garage and spacious garden.
"Soaring inflation was helping to stabilize things.. even though prices had fallen 40%"... What are you talking about??
Love how all of the countries problems always start with the government doing something stupid instead of just leaving things alone to self rectify
Just look around now 😂.
Or literally helping with what's the core issue with housing: not enough QUALITY, non-luxury supply of homes.
Great Depression was caused partly because they left things to self rectify. You can see why they didn’t want that to happen again
Excellent video as always. I would really appreciate a similar deep dive into the fairly different Canadian housing market!! Peace ✌️
Quaint villages were not torn up for brutalist tower blocks. This is ignorant crap. There were schemes for comprehensive clearance because the standard of housing in inner cities was appalling. By the late 1960s it was recognised that many of the replacement schemes were poor so grants to improve stock as well as money for environmental improvements via General Improvement Areas were introduced after 1969. The money was increased after 1974 via Housing Action Areas. The late 60s was also the time when we built the most new homes: over 300,000 in 1969. That figure has never been equaled and seriously declined until recent years. The alleged economic analysis in this is pure jumbo jumbo
Quaint villages weren’t torn up, but communities were, they flattened what today we would call “15 minutes cities” for car centric hellscapes where the people had absolutely nothing to do. The housing action plans were a good move, the bones of a lot of tenements were good and it was cramped conditions and lack of plumbing that made them so terrible. If instead of knocking everything down and relocating people they had relocated half and expanded the rooms, or slowly built up the area instead of raising it, the redevelopment would have been far more successful
@@flyingrat492 You don’t know anything about this. A lot of housing was bomb damaged from the war, there were often no bathrooms, outside toilets, poor construction. People were glad to see it go. The new build wasn’t any more or less car centric. It was built to Parker Morris standards so the rooms were large, with fitted kitchens etc. The problem was the standard of building work- same issue we have today: identified in the Egan Report 30 years ago and still nothing done. If you want a well built house buy one built between the wars. Very solid.
@@jontalbot1funny you say that, I grew up in a tenement, lived in an interwar home and work in a newtown. Newtowns were extremely car centric, like Milton Keynes. Even if then those old buildings were seen as dilapidated then, now many of them have been redone and are quite livable
@@flyingrat492 The New Towns are a different beast from the areas of older housing, especially MK. As you have noticed it’s laid out on a loose grid for cars. The designer, to no great surprise, was an American. Most of the others were designed around the idea of a walkable neighbourhood with sufficient population to support a school. You are right about a lot if the tenements in particular. But people now have no idea how poor most of the cleared housing was. I am old enough to remember using a tin bath in front of the fire at my grandparents house. Everyone had chilblains cos the houses were cold, damp and draughty. I should say l am a professional planner and taught housing development, housing policy and economics for 11 years so unlike the maker of the appalling video who ( if it’s even a real person) knows FA, l know a thing or two
@@jontalbot1can you name any others as a case study for “walkable” newtowns. Because every one I’ve been to has been terribly unwalkable.
I understand the genesis of British Punk now; thanks.
The mistake the architects of the 60s made was to not incorporate shops, bars and leisure facilities into the ground floor of the new tower blocks. These were often isolated from the town centre and attracted crime and antisocial behaviour. Modern tower blocks would solve overpopulation and the shortage of housing, but each floor needs to be limited to one family, there should be well-maintained lifts, the ground floor should be a supermarket, all the parking should be underground, there should be a resident policeman or security guard to patrol the grounds after dark, each block should be allocated a building superintendent or handyman to immediately repair any defects, there should be a bus stop outside the front entrance, and all the surrounding wasteground should be turned into well-lit gardens for the residents to enjoy
How can you limit each floor to one family! Like those super skinny skyscrapers on billionaires row in New York?
Wrong, all wrong, tower blocks are terrible for density, especially with your “well lit parks” at most residential buildings should be 10 stories, but most should be around 4-5, except in the most dense areas. Yes shops and bars should inhabit the first floors, but your garden city concepts require a lot of building upkeep which will be cut as soon as it becomes to expensive, which it will. A good community doesn’t require round the clock police presence it should reasonably police itself. I recommend you read the works for Jane Jacob’s before ever advocating for any sort of tower blocks
@@edc1569it’s a stupid idea that insulates every family from each other in their daily lives. Verticality creates separation and hierarchy, which is the greatest enemy of a functioning community. Parks and “grounds” should be occasional and small islands in the middle of a medium rise city, instead of buildings being like that
Socialist dystopia fanfiction
How did Europe do it then. For example in Eastern Europe where more than 50% lives in tower blocks without crime, poverty and misery.
Thank you very much for the education and information. Know I understand the housing situation in my country.
Fixing demand : Kick out speculation by restricting foreign capital and heavily taxing unhabited unit. Fixing supply : Get rid of NIMBY, offer governement assistance on mortgage only for new build, tax heavily the undevelopped land in area that the governement point as "high priority for construction"
Just tax the land values
@@tomi213 tax this, tax that... Ever considered that too much taxes could be part of the problem?
@@laju6398 You are paying punitively high tax rates because you are not taxing land. The absentee landlords prefer consumption taxes because they don't have to pay them. Income taxes can be avoided by paying your income to a your Cayman shell company as interest payments and then pretending to the tax collector that you are losing money.
To add insult to injury, the taxes that they don't pay are used to pay for public infrastructure which then increases the land values and rents to the benefit of landlords. Thus the "Landlords grow rich in their sleep without, working, risking or economizing" as John Stuart Mill put it.
When you or your children then wants to buy or rent a home you will pay second time for the improvements that were paid with taxes in form of increased rents, home prices and interest charges.
As long as you keep taxing income and consumption instead of economic rents(land value increases, resource rents, monopoly prices, etc) your country's industry will be in permanent decline while all the money is made by do-nothing absentee landlords and bankers.
@@tomi213a substantial chunk of housing in the UK is leasehold.
@@matthewbarry376 Here is UK's landownership from Guy Shrubsole's "Who owns England":
Aristocracy & gentry: 30%
Companies & LLPs (UK and overseas):18%
New money: 17%
Unaccounted: 17%
Public sector: 8.5%
Crown: 1.4%
Church: 0.5%
Conservation charities:2%
Homeowners:5%
The unaccounted land is most likely owned by the aristocracy.
As you can see if taxes were shifted from income and consumption to land the taxation would mostly hit the economic fat.
He realized there had been several deaths on this road, but his concern rose when he saw the exact number.
I drove from London to deep inside Wales. And what I did not understand was how people were crammed into old (1910s vintage), tiny, one bathroom houses, while I drove past hundreds of miles of un occupied, unused land.
I’m not sure sprawling estates all over the countryside is what anyone wants. We just need to be better at building density.
So build on farmland then but where do you grow our food?
Classic urbanist mentality. The land your driving through is not unoccupied or unused, it's farming land. Cities are not self sustaining environments. for every person in the city you need several acres of land to produce the food they need.
Most people need to live near where they work. We already have plenty of houses available in areas where no-one wants to live because they can't find work there. And we don't just need houses, we need infrastructure - shops, doctors, dentists, schools, etc.
They were built cheap and often for workers to be near the mine and didn't have bathrooms when they were built. Stone needed to be quarried by hand so was a premium product. Also people didn't have cars but had the convenience of density for shops and pubs nearby. I'd rather live in a terrace nearby community facilities than a souless detached estate with no social facilities. Most of the space in Wales is upland which is cold wet and windy, but great for grazing sheep on.
Why wasn't there a supply? Because of Town and Country Planning Act 1947.
The dollar is literally being destroyed / debased / devalued. I just want my money to keep outgrowing the inflation rate. How do i invest about 250k i have parked in the bank and what strategies do i employ to make significant gains and stable cashflow?
Chose quality stocks and follow them up. If you're not one for such complexities, hire a wealth manager to grow your money. I use the latter
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??
I've stuck with ‘’lucia Alicia Cruz” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I was saddened that your video stopped where it did. The Thatcher era had a profound impact on the housing market with high interest rates, high unemployment and also the sale of social housing. We also saw great swings in the value of the £/$ at one point $2 to £ then reducing to nearly parity. We also saw the removal of one area of supply - councils stopping building more rental homes and the rise of private sector landlords.
England is not ugly
The countryside is beautiful. The South of England has money, and it shows. However, the cities are decrepit.
I faced this situation in the 1960s. I quit England for Australia in 1969. No regrets!
Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Stacy Lynn Staples who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Stacy has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I’m guessing the real differences happen with resource exploitation - and that can be harmful to the ecosystem or not, but in this case the North Sea Oil boom laid out the good times in the 1980s and 1990s plus paid for the unemployment benefits of a generation of manufacturing job losses. Governments can only really increase or decrease the pain (NHS, Truss/Quarteng) but real prosperity comes from doing new things in life. Same with real suffering, comes from new conflicts.
Dude never visited Eastern Europe
Don't be dismayed by good-byes. A farewell is necessary before you can meet again. And meeting again, after moments or lifetimes, is certain for those who are friends.
Wow your voice sounds different all of a sudden do you have a cold or something?
I've come down with a bad case of British.
Damn, it’s charming how do I catch it 😍
@@DrowsySquid75 Just stop brushing your teeth.
@@DrowsySquid75Drink tea without milk and suger
@@DrowsySquid75 Learn what is a kilometer
The monarchy is too rich for the people's benefit.
When you pay people who don't work, you get a lot of them.
Mass production made cars affordable....oddly, this never happened in housing
The UK during Thatcher was a dreary & unhappy place to visit (& probably to live in). But from the mid90s to mid 2000s was a joy. Austerity killed it though.
Essentially this was the result of "population explosion", the exact opposite demographic trend compared to today.
In other words, don't worry about population decline too much and act hastily.
once the wave of baby boomers is passed, we'll be entering an uncharted territory
Sharp population decline, and baby boomers leaving behind empty space, and also all the stress about budget concerns due to the large baby boomer generation getting pensions is also going to end at some point
@ayoCC The Boomers dying off won't help the pensions though.
You have a lot of Boomers to be sure. But when they all die you will still have a lot of Gen X and those below over the decades while significantly less children and working people. It will just get worse.
It depends on the country of course.
No long term demographic policy should be implemented hastily.
@@baronvonjo1929 The boomers are the largest generation by far and have a lot of assets compare to the others, tax revenue will be through the roof from inheritance tax, the problem will not get worse. Below them the demographics are much better distributed. The UK government spends most of its money on Boomers pensions and the NHS which is essentially all Boomers again.
Peak death will be arriving in the UK within the next 5 to 10 years, the amount of people dying will never have been higher even including those war years. Nearly 900,000 boomers will die in a single year...the numbers are crazy. Over 10% of the UK population will just disappear in one single year. We are currently at "only" 667,479 deaths a year.
To repeat the demographic mix is way way better underneath the Boomers.
You forgot about immigration which is strange as that's normally what most UK people cry about in these discussions.
@@ayoCC You are incorrect. Look at what is happening in Japan, due to their older generation having less children the ratio of old vs young is very high. A lot of old people, not many working younger people, it is costing their country's finances quite a lot due to there being less young workers which you seemed to of ignored that part. Always pay attention to what is happening to other countries in the world because there is always a country somewhere that is where we are about to head to or have gone past it already.
The demand for housing in the UK was largely created by the Hitler's blitz. Also, as a curiosity, do you know when the UK made the final payment to the US for the WWII loans? 2010.
Agree. Very likely we r headed for a decade long bear market in all western assets. It will be a period of geopolitical n currency changes. Within US this is the chance to do the long-needed economic n social n government reforms. If we succeed, US will be on a long-term sustainable growth path in a decade. But we must take the pain 1st n do the adjustments. From investing pov, sell all US, european equities n bonds. Go long Gold and Crypto. Go long emerging market trade........ I have managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Linda Wilburn’s, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
She's often interacts on Telegrams, using the user-name.
@Lindawilburn
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Linda’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Always backup your trading with a good strategy.
Nice, I was just hodling before I found Wilburn. In my opinion she is the very best out there.
Australian cities are growing tower blocks and the damage is growing here too. They haven't seen the damage done in this disgusting mess. It's no place for children but, that's what happened.
At last, a person from the Uk, not brainwashed and speaking about the ugliness of England
Rapid expansion definitely comes at the cost of quality. Here in Australia, new builds are generally significantly lower quality.
You sure it's not all due to immigrants? 💀💀
On GOD
The moment the speaker said 'White picket fences' I was gone! That was never a British thing - always an American (US) phrase and thought pattern.