the property market has always been cyclical, however domestic property stock now represents the majority of the UK asset base, We no longer have any Publicly owned well landed utilities or rail networks tho were still paying for em both directly and indirectly. This means the value of UK PLC or in real terms the pound in our pockets is directly tied to the value of domestic properties. Then factor in the buy to let market which incidentally has seen a lot of foreign investment, and become an artificial value sustaining force, snapping up properties that dont fetch top price.
First time buyers of all ages are screwed.
Home ownership also involves extra costs and hassles with a never ending list of needs for most folk too..
Thatchers right to buy policy was just a smoke screen to rip the housing stock and its income from the hands of local authorities who were politically opposed to the then government and its policies for a large part.
It was Limited with excluding contracts for most subsequent public housing tenants as soon as it was issued. How many right to buy homes near you are now under private letting??
hehe i needed that