There’s no need for New Zealand-style xenophobia to curb UK house prices

In many parts of the world including New Zealand, affordable prices of houses are getting worse. This exposes a difficult choice. If New Zealand housing prices continue to rise, and there is no price adjustment, the socio-economic gap will expand. Owners, gentlemen of the land benefit, people without property are affected. In the long run, refusing to recognize this growing socio-economic gap means that the possibility of fundamental revolutionary response will increase. In an unlikely modern incident, guillotine is shaking the revolutionaries in Paris - more like Brexit or the establishment of playing cards kind

So I live in Auckland. If you are from New Zealand, I think you know the idiotic housing price of this city. The real estate market is driven by competitive real estate investors, high real estate demand and low mortgage rates. Housing prices have risen in recent years. Promising people, including economists, believe that the bubble erupts soon. They wanted for years now, but I will not do that yet. This is also my opinion. I did not come from a wealthy family, but funded what I needed from my high school. So for me, buying a house is almost out of reach, because this is something I have to do.

In past blogs, I saw different evidence that what is happening in the UK housing market suggests that the housing crisis is not the result of housing shortage. On the contrary, housing prices have soared in the past 20 years due to various financial factors such as low interest rates worldwide, overseas investors' attention in the real estate market in London, deregulation of the mortgage market. One objection to my argument is based on recent trends in the size of family in the UK. According to the National Statistics Bureau's Labor Force Survey (LFS), the government predicts that households will shrink and that more houses will be needed, but it seems that it began to increase to 39 last year from 36 in 2010. Of course, some people believe that family formation is constrained by high housing costs, and that people are forced to live in larger families than they desire.