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Bill Jamieson - This housing thesis was built on shaky ground



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NEVER say downturns only bring problems and never solutions. A huge problem has quite disappeared from view in recent weeks: that of The Great Housing Shortage.
It seemed only yesterday that the government was urging a massive housebuilding programme: three million new houses, no less, by 2020. Gordon Brown has also led a crusade for ten so-called "eco towns", with between 10,000 and 15,000 low-energy, "carb...



The full article contains 974 words and appears in The Scotsman newspaper.
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  • Last Updated: 05 June 2008 8:24 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Bill Jamieson
 
1

Slioch,

Scottish Highlands 06/06/2008 09:52:34
An excellent article, Mr Jamieson.

The only pity is that we are being led to sanity not by the plans of politicians, but by running up against the buffers of reality. Methinks there are quite a few more buffers lying in wait. We would do better to acknowledge them and plan accordingly rather than indulge ourselves in fantasies of ever expanding consumption and growth.
2

Am Balach,

Isle of Skye 06/06/2008 14:56:04
Excellent analysis Mr Jamieson.

However you failed to mention the killer fact for the housebuilders. That is that it now costs more to build a house than they price you will get for selling it.

Over the next few years construction costs will continue to rise and property value will fall.

This means that the business model of the big housebuilder developers like Wimpy, Stuart Milne, Barret etc does not work. This means they are finished.

There will be some justice that these guys who have destroyed the character of some of our finest vllages, towns and cities are facing ruin.

We now as a nation have to concentrate on mending the mistakes of the past and knitting our communities back together through proper masterplanning, urban design and architecture.

How this will be funded is the question. There will be no short-term return for the traditional developers so they won't do it.

The obvious answer is through independence and the oil fund. Do you have any ideas Mr Jamieson?

 

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