Can we talk about how messed up the UK housing market is?
Since 2010 the UK government has either been criminally ignorant or politically kicking the can down the road by introducing schemes such as help to buy / part buy part let, while also allowing the 100+ year lease system to stay in place.
What has happened has been an enormous rush to build housing bubble the likes of Smaylor Bimpey and Sarratt homes (not actual names) to a disgusting poor standard
Articles for context:
Growing complaints about new-build houses
'I'll never buy a new-build home again'
'Our new-build home has 354 defects'
'New-build homes not fire safe'
Young people (supported by their families) then got mortgages to buy the poorly built houses and prop up the values in the housing market
Surveyors are at fault here too - by not factoring the future cost of repairs for shoddy workmanship into the value of the house.
The banks don't help. Our mortgage market is a mess. Why do mortgages only get locked in for 3-5 years. Everything is set up to beat down the homeowner.
No matter if interest base rates go up or down the homeowner always gets a raw deal.
The system is held in place because the government got votes by propping up housing. The green belt system ties up housing project potential.
The planning system ties up new entrants into the market.
It's insanely depressing to see a whole generation of youngsters try and move to a family home, but no one is willing to buy these £400k 75 year lease flats, that leak, are noisey, have bad tiling, windows don't fit, use cheap furnishings.
Sadly, the government plays a role at every stage here and (Tmay + the chancellor) are too busy with Brexit to care.
I have to believe we're looking at another housing crash because this cycle had been beyond insane.
If someone can overcome the government on zoning, mortgages, planning permission and one in building high quality homes you can build an enormous company in this area.
I think many turn away from the idea of modular homes at face value because they run this rush risk of having a homogeneous look, but all new builds look the same and are kitted with such terrible furnishings.
Entrepreneurs, investors, visionary's ... Come fix this, hell, the country, and make bank in the process.
The opportunity here is enormous when you isolate this to the UK house building industry. That market (UK Housebuilding Sector) alone was ~£30 Billion at the end of 2018
Take a breath. Let that soak in. In the UK alone this market is worth £30 Billion.
The construction industry avoids tech like the plague, even though the same process occurs on every development:
It was this way when I left construction engineering 10 years ago and is still like this today. There are so many problems in this market that can be fixed with tech.
This is a open call for anyone to work on this.
Interested? Let me know - I will open my contact book for you.