Yo Yo times.

The above yo yo is a toy, the synonym a noun with three definitions

1

: a thick grooved double disk with a string attached to its center axle that is made to fall and rise to the hand by unwinding and rewinding on the string

2

: a condition or situation marked by regular fluctuations from one extreme to another

3

: a stupid or foolish person

Yo Yo Ma is an American celebrated cellist with Chinese heritage. A wooden stringed instrument and played with bow with music that takes your mind elsewhere. Yo Yo Ma is certainly not in the third category definition , but far from it a genius.

As for the second category definition the UK housing market fits the Yo Yo definition perfectly. There are three similarities. The market values fluctuate but more importantly the reporting of up and down values is frantic , one day doomsday the next FOMO. Additionally you don’t need to be a genius like Yo Yo Ma to work out what’s really going on and at times you have to believe we are all having our strings pulled by the so called journalists.

The under supply of truly affordable housing in the UK is the bane of all our problems at least many of them. If people don’t have a secure front door unrest will breed and fear will lead to social dissatisfaction with crime related. Affordable means homes that people can afford not some flimsy definition to suit a greedy planning application.

Post war the Government created this housing only then to sell them off in a quick buck moment. Today we need to rebuild , recreate environments in London where poor can live alongside rich like Peabody and Sutton Trust in London. The two live off each other when the rich guy can find a plumber and the plumber can get paid , it’s symbiotic. Or the poor guy can see his neighbour and aspire to greater.

Creation of housing is made up of three parts, land , building materials and profit. If you take out land cost and profit you are left with financing build costs only. A new financial model can achieve this and at the same time solve the housing problem. The issue is who do you talk to , especially when few in Government will listen or understand and the private sector is only ever interested in profit.

The yo yo effect occurs when interest rates fluctuate, debt secure is difficult and equity non existent. How can young people in their prime of life be even old enough to save for a holiday let alone a house. The system is askew and until it’s fixed we remain in the fix. Homes are homes to live in, raise families , communities and in doing so make a better world. We need to do it put away the yo yo and walk the dog ( you remember how to do that one ? )