On Sat, 27 Mar 2021 19:05:03 +0000
The Natural Philosopher  wrote:

> On 27/03/2021 18:40, TimS wrote:
> > On 27 Mar 2021 at 17:29:53 GMT, Charlie Gibbs
> >  wrote:
> >
> >> On 2021-03-27, The Natural Philosopher  wrote:
> >>
> >>>   Its rather a study of mine, actually. My tentative observation
> >>> is that those who advocate the purest form of Marxism are in fact
> >>> simply showing a romantic fondness for the lifestyle of the
> >>> hunter gatherer. Before farming, before herding even, a
> >>> population of at best a few million lived 'in harmony with
> >>> nature' lacking even the idea of 'private property' let alone the
> >>> hierarchies and the discipline that are necessary for large
> >>> numbers of people to act in unison.
> >>
> >> This makes it particularly ironic that many societies that
> >> are appalled by Karl Marx's philosophy are adopting one of
> >> his fundamental tenets: the elimination of private property.
> >> Housing prices are climbing so fast that soon none but the
> >> very richest will be able to afford their own home;
> >
> > In teh UK it's driven by population pressure, which has increased
> > from 50 to 65 million in the last 50 years.
> >
> House prices are climbing because of uber low interest rates
>
> Put the base rate up to 15% and watch capital evaporate.
>
>

Yes, but they climbed quite quickly before the current negligible
interest rate happened. I can recall paying around 15% on my mortgage,
fortunately not for very long. House prices were rising quickly then.

It has also a lot to do with ever-larger multiples of salary being
lent, along with low deposits asked.

'If the bank is willing to lend me a million pounds, then why not take
it? A million-pound house will be worth two million in ten years' time'.

Chicken and egg. If the builders were not certain that prices would
keep rising indefinitely, they wouldn't sit on land, they'd build now.

--
Joe

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