patrick.net

Let's see, there are LOTS of possible solutions but I seriously doubt that she would think that there would be any way that they would work for her. First, she makes 30K pounds a year. If she lived with her folks and gave them someplace between 100 - 300 pounds a month to live there, she could save, in fact doing that she could have her down payment in two years or less. Second, the article didn't go into it, but what are the rest of her living expenses? How much does her cell phone cost her? How often does she go out to the clubs or go on 'holiday'. Far too many of the young generation (and even generations just behind me) feel/believe that they are entitled to little expenses and holidays because 'we earn it'. No you don't you twit, you are scrapping by on the bottom of the economic ladder - you need to shut up and save every penny. Before you buy that coffee, tea or beer, actually THINK about how much it's costing you - then put the money back in your pocket, go home and have it for 20% of what it costs when you buy it out.

Next, she lives in London - why? Staying in London really shouldn't even be in your plans. Save your money as outlined above and PLAN on moving to another job in a smaller city, maybe several hundred to several thousand miles away (like someplace in Europe or America). Oh, and I didn't even mention that when she is saving her money, she should take on a second job, doesn't need to be full time (although nothing wrong with that) but an extra 20 hours a week at as a waitress at a pub or restaurant, she would have her down payment and get out of mom and dad's house in a jiff. But no, I work hard, I need my time off - yeah, and we see how far that has gotten you.

The question is, what happened in the 80s that caused prices to begin their ascent to the moon.

In 1985, Thatcher had just opened up Council Housing to buyers, most of whom had been renters at the same property they were buying.
Interest Rates began declining in the 80s.
Since the 80s, the UK has built little if any new Council Homes, even though the population has grown due to mass immigration and especially in and around London where the parasite 1%ers live, flocking from all over the world. From Egyptian to Russian to Pakistani Oligarchs and Financiers.

You can say the same for polices and places in the US, just substitute South Asians in IT for Russian Oligarchs (Miami, London, NY) fleeing Justice for San Fran.

The Solution is to reincentivize STARTER property construction for 3 person families, not McMansions and Luxury Penthouses. The Federal Government must pass laws that Trump Local Density Restrictions in High Demand areas as a matter of National Security, like in and around the Bay area.

May the wrecking balls speed to those old Victorians and Rowhouses in the Bay Area, and replace them with sleek 20-story condo complexes reaching for the sky.

Oh, and just to be a prick - compensation for seized old properties to be based on property taxes, not Market Price. MUHAHHAHAHA

thunderlips11 says

The Solution is to reincentivize STARTER property construction for 3 person families, not McMansions and Luxury Penthouses.

Housing is fungible. If many mac Mansions are built, their prices will fall and construction will move to cheaper homes.
This is why there is no need to control the market.
All we need to remove restrictions on building enough units for the population we have.