The lord of the land has arrived. Legal & General (L&G) plan is to invest a whopping £15bn into housing , education, energy and transport over the next ten years. Mr Wilson has made a strong point that while house prices rising for house owners today is a very positive move on what has been a struggling property market since 2008, the rise in prices will only hinder the first time buyers of 2013 by making it even harder to reach that all important deposit.
Nigel Wilson , head of Legal & General has stated to the BBC that there is “intergenerational injustice” towards young people who simply can’t get jobs due to the recession and ridiculous height of education fees.
Young people could feel their problems are exacerbated. Planning for more properties is hard and as Mr Wilson says "Planning in the UK is probably as difficult as it gets anywhere in the world,". Houses that are built are instead of a £120,000 house a year now scaled up to a £250,000 a year - a generous portion of which should be rented out to the FTB’s of society. Such an increase in supply will mean building on a green belt land - making it a positive move.
It is an excellent idea that before applauding ourselves when house prices increase, there should a system in place that allows a halt on value growth for a minimum of 3 years , encouraging supply on houses.
L&G have already made their first direct stamp within the housing sector, in March they purchased a 46.5% stake in the house builder Cala. Igniting their thirst for the rental market, as part of a strategy to target socially useful projects i.e. education. transport and energy sectors) to deliver high rates of return to Legal and General making them the next big thing - if not the biggest thing to come through into the land of landlords of since 2008 at the very least.
The market law says that the developer is always derived profits) It`s trite but true. I ordered a report on the economy here uk essays . Sometimes I think that in the world has had very many ignoramuses except me. And this is especially true of businessmen)!
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