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All this is down to GREED! You have property developers who have the money and always outbid others in auctions, then do it up and sell it for a profit. We have the banks in their greed for profits allow 90- 100 loans to people who can’t afford it. All this did was pushed house prices up, created panic buying because people are afraid if they don’t buy it now they will not be able to buy it later when increases even further. We are now in a situation where a terraced house in London is £200k plus and is just so basic and crap! The whole thing is ridiculous. Why doesn’t the government build 20 storey luxury 3-4 bedroom flats like they have in places like Honk Kong, Singapore? Each unit can be sold for £100k and the catch is you if you want to move out, you have to sell it back to the government for £100k who can then sell it to on. This would allow people to SAVE and move out to a proper terraced house, allowing new tenants to move in. The price of the flats will always be fixed.
Trev971 Trev971 46-50, M 4 Answers Apr 18 in Community

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Same story here in the States. Shoddy construction, but new! :/<br />
Lump the developers in with the bankers, and you've got a huge mountain of trouble and, politely, manure. It all boils down to greed even with existing real estate, and no, the lame excuse that property taxes are driving rents and mortgages high has about as much validity as a three and a half dollar bill.

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Greed is capitalism

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You're absolutely correct. And the government is part of the problem. But 20 storey flats aren't the answer. No one wants to live in a tower block.

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Yes but those who do not like it can save and move out if they so wish. I am not talking about old style horrible tower blocks infested with crimes or gangs. It can work if properly managed.

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the joy of capitalist society at its best

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