首页
登录
职称英语
When Britain’s long-bubbly housing market slumped in 2008, few expected a qu
When Britain’s long-bubbly housing market slumped in 2008, few expected a qu
游客
2023-08-15
14
管理
问题
When Britain’s long-bubbly housing market slumped in 2008, few expected a quick rebound. After the last big house-price crash, in 1989, it took almost a decade for prices to recover to their previous heights, even in nominal terms. Yet this time around they have managed it in about half that time. In London, prices are already 25% above their 2008 peak, and are now rising at a rate of 18% a year. The average home in the capital costs more than £ 450 000; in some neighborhoods the average house price is more than ten times the average income. What explains this dramatic recovery, and the rising prices in London in particular?
One cause is financial. Prices entered a downward spiral during the recession, as banks gave out less generous mortgages, which meant that only people with substantial cash deposits could get together the money to buy a house. Since then, thanks to government subsidies, 95% loan-to-value mortgages(for which the buyer needs a deposit worth only 5% the value of the house)have reappeared. The number of new mortgages approved for house purchases has increased by about one-half in the past year. Meanwhile, thanks to the policies of the Bank of England, interest rates are low, meaning people can afford to borrow large amounts. Yet cheap money is back all over Britain, and prices have not risen equally everywhere. In London and the more affluent parts of the southeast, they are soaring. But in most of the north of England, they are still substantially below 2008 levels.
The London phenomenon is due to a restriction of supply at a time of soaring demand. In the north of England, slow economic growth, low population growth and plenty of new construction mean that there are lots of homes and not all that much demand for them. In London and the southeast, by contrast, tight planning rules and a shortage of land mean that relatively little new housing is being built, even as a booming economy and spectacular population growth create lots of demand for it. Tight "green belts"—areas in which most new construction is banned—surround London and small, pretty cities such as Oxford and Cambridge, making it difficult to build new suburbs. Tall apartment blocks are constricted by laws protecting the skyline, and by the difficulty and expense of acquiring land and demolishing(拆毁,毁掉)existing homes.
That suggests that unless there is more construction, prices in London and the south east will continue to climb, at least as long as interest rates stay low, the population keeps growing and there isn’t another financial crisis. [br] What is one of the reasons for the demand of more houses in London and the southeast?
选项
A、Growing population.
B、High value of pounds.
C、Pulling down of old houses.
D、Environment protection.
答案
A
解析
转载请注明原文地址:https://tihaiku.com/zcyy/2929681.html
相关试题推荐
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
Whenthejobmarketworsens,manystudentsfiguretheycan’tindulge(沉溺于)in
[originaltext](16)TheUShousingsectorusuallyleadstherestoftheecon
Marketplaceorpeer-to-peer(P2P)lendingmatchesborrowersandlendersonlow
Marketplaceorpeer-to-peer(P2P)lendingmatchesborrowersandlendersonlow
Marketplaceorpeer-to-peer(P2P)lendingmatchesborrowersandlendersonlow
随机试题
WhichofthefollowingisNOTmentionedasafactortomakeretailsalesrise?[
(1)Anxiousaboutmeetingakeyhiringmanager?Yourjob-searchjittersmays
RevisionofEssayDraftsTheinitialrevisionshouldfoc
HardlyayearpassedwithoutBeijinglosingitstraditionaldominanceinanother
说明:假设你是青岛大学外语学院的张涵教授,现在需要给北京大学的李浩教授写一封邀请函,邀请他作一个讲座。时间:3月17日内容:1.发出诚挚邀请;2.讲座时
关于巨幼细胞贫血,下列哪项是不正确的?A.是叶酸,VitB12缺乏引起的一种大
下列关于自主学习的描述不正确的是()。A.自主学习有利于激发学生的兴趣 B
以利益均衡作为价值判断标准来配置卫生资源,体现的卫生法基本原则是( )。A.患
( )认为,创新就是“建立一种新的生产函数”。A.泰勒 B.法约尔 C.熊
季度考评一般在下一季度的前()天进行。A.5 B.7 C.10 D.15
最新回复
(
0
)