{"id":135076,"date":"2023-03-05T22:11:31","date_gmt":"2023-03-05T15:11:31","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/house-prices-are-in-freefall-and-so-is-britains-national-faith-in-property-ownership-john-harris\/"},"modified":"2023-03-05T22:40:41","modified_gmt":"2023-03-05T15:40:41","slug":"house-prices-are-in-freefall-and-so-is-britains-national-faith-in-property-ownership-john-harris","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/house-prices-are-in-freefall-and-so-is-britains-national-faith-in-property-ownership-john-harris\/","title":{"rendered":"House prices are in freefall \u2013 and so is Britain\u2019s national faith in property ownership | John Harris"},"content":{"rendered":"


\nMillions can\u2019t afford to buy and millions more can\u2019t afford their rent. What happened to the dream of decent, affordable homes? From leaked messages suggesting that Matt Hancock thought his job as health secretary was to \u201cfrighten the pants\u201d off the public to Boris Johnson\u2019s latest Trumpian contortions, our current political pantomime shows no signs of letting up. But underneath it all, something much more era-defining seems to be afoot: the British public\u2019s two secular gods are taking a battering. The NHS is not in quite the mess it was a couple of months ago, but its deep problems grind on. Meanwhile, a slightly more overlooked story is becoming hard to ignore: a crisis in our national faith in property ownership, and the decline of that strange British belief that in any normal universe, house prices will only go up.Figures released last week showed UK house prices were falling at the fastest annual rate since 2012, with warnings from the financial sector that \u201ceconomic headwinds look set to remain relatively strong\u201d and property owners reportedly having to cut their asking prices by an average of \u00a314,000. To state the blindingly obvious, high interest rates are sucking demand out of the market by restricting access to mortgages. Houses and flats, therefore, sit unsold, and hundreds of thousands of people remain stranded in the purgatory between wanting \u2013 or, as politicians say, \u201caspiring\u201d \u2013 to own a home, and being able to do so.John Harris is a Guardian columnist Continue reading…
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\nSource : theguardian.com
\nRead more…House prices are in freefall \u2013 and so is Britain\u2019s national faith in property ownership | John Harris<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Millions can\u2019t afford to buy and millions more can\u2019t afford their rent. What happened to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-135076","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-z8E","jetpack-related-posts":[{"id":694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-year-brings-financial-headache-for-millions-of-british-families\/","url_meta":{"origin":135076,"position":0},"title":"New year brings financial headache for millions of British families","date":"January 4, 2016","format":false,"excerpt":"\r Separate research from National Debtline and Shelter shows how millions will struggle to pay their mortgage and rent as credit card bills start to arrive More than 2.5 million families in England are being forced to cut back on essentials such as heating and clothing this winter to pay\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/broken-land-ownership-system-fuels-inequality-letters\/","url_meta":{"origin":135076,"position":1},"title":"Broken land ownership system fuels inequality | Letters","date":"April 21, 2019","format":false,"excerpt":"\r The unequal distribution of land has created serious problems in housing provision and wider society, say readersThe revelation that half of England is owned by less than 1% of the population (Report, 18 April) is a stark example of how broken our archaic system of land ownership is. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-can-only-afford-a-shared-ownership-property-can-i-buy-it-to-let\/","url_meta":{"origin":135076,"position":2},"title":"I can only afford a shared-ownership property \u2013 can I buy it to let?","date":"June 16, 2016","format":false,"excerpt":"\r I hope to buy a property outright on the shared-ownership scheme, and rent it out for a few years until I am ready to move inQ I have a question about mortgages. I am currently working and renting in London, but I would like to purchase my own property.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-so-many-chinese-millennials-can-afford-their-own-homes\/","url_meta":{"origin":135076,"position":3},"title":"Why so many Chinese millennials can afford their own homes","date":"April 11, 2017","format":false,"excerpt":"\r A survey has suggested that mainland China has the highest rate of home ownership among young people in several countries polled. The study by HSBC found that 70 per cent of \u201cmillennials\u201d surveyed on the mainland owned their own home. That compared with 35 per cent in the United\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":284,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/millions-give-up-on-home-ownership-as-house-prices-soar\/","url_meta":{"origin":135076,"position":4},"title":"Millions give up on home ownership as house prices soar","date":"December 20, 2015","format":false,"excerpt":"\r Britain's reputation as a nation of homeowners is \"under threat\", analysis of Bank of England survey reveals\r \r Source : telegraph.co.uk\r Read more...Millions give up on home ownership as house prices soar","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136019,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-young-but-have-no-interest-in-the-british-cult-of-home-ownership-i-just-want-renting-to-be-fair-jason-okundaye\/","url_meta":{"origin":135076,"position":5},"title":"I\u2019m young but have no interest in the British cult of home ownership. I just want renting to be fair | Jason Okundaye","date":"April 20, 2023","format":false,"excerpt":"\r Getting kicked out by my landlord was tough, but that doesn\u2019t mean I want to buy a house. My generation needs more options for secure housingMy housemates and I were confronted with a no-fault eviction notice in September, and so I spent last New Year\u2019s Eve hauling my possessions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135076"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=135076"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135076\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=135076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=135076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=135076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}