Sounds like you’ve had an encounter with “If you build enough houses, some will be affordable”?

There are many reasons why this does NOT happen. The most important being that developers won’t build so many homes that prices drop. Basic oligopoly economics. 1/3 https://twitter.com/martin_farley/status/1338922454610272259

The other key element is land prices. There’s a real disconnect on how much land costs.

If you can build on it, or it has any productive value, it’s probably going to cost a helluva lot more than you think (one development here had finance costs of £7M, just in interest) 2/3

The thing with land is that “they’re not making any more”*

If demand goes up, the market won’t go and build more to satisfy this, the price just goes up.

*reclaiming land from the sea is environmentally damaging, risky and prohibitively expensive. https://on.natgeo.com/3r3rgPO 
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