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  • Property-a-holics

    Government report on house prices

    Analysis of the determinants of house price changes

    From 1991 to 2016 the number of households in England increased by 16%

    Over the same period the number of dwellings increased by 20%

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    The figures are an average. In the SE house prices have far outstripped the published figures whereas in large parts of the country house prices have struggled to keep up with CPI let alone bettered CPI. Many homes are available for less than it would cost to rebuild them; which essentially assumes that the land is free.

    The problem that the country has is the sense of entitlement that people in the SE have. Remove the Government subsidy and they would move to where they can afford to live and prices would find a natural equilibrium and wages in the expensive areas would need to rise to market rates rather than be subsidised by benefits. Businesses would also locate where the labour was competitively priced. Supply and demand is compromised by Government interference in the free market.

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    Excellent post.

    The other major factor is the supply of mass uncontrolled immigrants who flood the labour market making it pointless working if on benefits.

    As you correctly suggest without WTC few of the jobs EU migrants do would be viable without such WTC.

    With out it most jobs in the SE would be unviable except if they were moved North.

    Without Govt interference the labour market would gravitate North

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    ``The problem that the country has is the sense of entitlement that people in the SE have.``

    I live in the SE

    Sense of entitlement is a very current and apt  phrase . I suffer from it but I think we all do in various guises

    Its very widespread and infiltrates into all manner of our thinking not just the SE and not just housing

    If the local library  or bank shuts causing us to change our  patterns our sense of entitlement comes to the fore

    Its been here 50 years we cry as we make our placards and join a local protest march

    The local pensioner is entitled to his favourite bar stool .  The rambler is entitled to walk across the farmers field

    Time makes  sense of entitlement grow  greater and more solid and we oppose more  the longer that time span is

    When interest rates came down I felt great .

    I felt a bit guilty because my income shot up when the crash came in 2008

    I said to myself this is temporary lets pretend it hasn't happened

    so when they inevitably go up I wont be disappointed so much

    I didnt want to fall into the trap of a sense of entitlement that interest rates will always be low  and just come to expect it

    But as the years go by that sense of entitlement grows and i resented it much more when they did go up and no doubt will go up. If they had gone up after a few months then my sense of entitlement hadn't set in that much . But after 10 years - come on  - surely low interest rates are written in stone now

    When they came down I rushed to  update my spreadsheet to show the glorious effect on it

    When they went up though I snarled and blamed everyone else except me and reluctantly amended it with a begrudging tut

    So I think that sense of entitlement in all of us is ingrained over time and  to change a nations mindset is very hard

    It would take years, decades and centuries to change some people sense of entitlement

    Sense of entitlement is really just an illusion created by us to put our lives in context

    When the earth was formed - whether you believe by God  or by the big bang there were no countries then

    When I get on my high horse about my own sense of entitlement I try to regress back 10,000 years

    I have no more real right to live in England let alone the SE than I have to live in France  Israel or the States

    Wars define sense of entitlement

     Then when the war is won .........

    governments, regions, councils, committees  take over to cement that sense of entitlement

    It is an illusion  but the world revolves around this illusion  to give us a sense of ownership which gives us purpose and sanity

    Having said that I am on this planet for only 100 years so i want it not to be an illusion

    So I ignore the illusion  every day  -

    So  I will be  supporting  England in the World Cup this summer and I think 100% I am entitled to do this. :-)

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    Jonathan Clarke. http://www.buytoletmk.com