Average house price £1244025. Madness. Where will the actual workers live? In winter it is dead as many are second homes. A totally broken housing market exists in this country – but how can it be solved? Sandbanks – previously the most expensive place to buy in the UK, was built for the rich, Salcombe used to be a proper town with pubs and shops open all the year round and most people working locally. 80% of sales are for 2nd home owners or buy to let.
Actually there does seem to be an answer. Increase top levels of tax – upto 90% for £10million. Hopefully many of these people will then bugger off. House prices at the top end in London and elsewhere will plumet. I guess there would be bit of a recession in London due to investors withdrswung money from the financiql sector. It should not affect much else as the general population will have the same amount of money to spend. But if the rich can no longer afford second homes and their yachts and private jets so be it.
An economy based on betting (foreign exchange and the stock market is unsustainable). These sectors have a place – but it has become too central. Moving to a home based economy does not mean a return to “The Good Life” type scenario!