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A comment on Homes in 97% of U.S. cities are overvalued, Moody's says. Parent comment

Re:Homes in 97% of U.S. cities are overvalued, Moody's says by LMYahooTFY on Friday May 06, 2022 @01:58AM (#31281770)
> but I think that, in the UK, you don’t actually own the land your house sits on; Lord Such-and-Such owns it, and collects rent from you.

I've never heard this before. Is this actually true? Is this some background technical legal truth that isn't noticed in practice?

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Re:Homes in 97% of U.S. cities are overvalued, Moody's says by Cederfjard on Friday May 06, 2022 @08:24AM (#31284318)
To be clear, anyone can own the freehold that you’re leasing the property from. The mention of ”Lord Such-and-Such” could give you the idea that this is some antiquated construct where all lands are somehow truly owned by the nobility, but that’s not how it is.
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Re:Homes in 97% of U.S. cities are overvalued, Moody's says by chrisseaton on Friday May 06, 2022 @02:49AM (#31282061)
Called a leasehold. Not all property is like this though.
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Re:Homes in 97% of U.S. cities are overvalued, Moody's says by pydry on Friday May 06, 2022 @04:44AM (#31282878)
Like, 85% in London though.
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Re:Homes in 97% of U.S. cities are overvalued, Moody's says by rowanajmarshall on Friday May 06, 2022 @10:53AM (#31285871)
About 34% of London is leasehold: https://www.gov.uk/government/statistics/leasehold-dwellings...
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Re:Homes in 97% of U.S. cities are overvalued, Moody's says by pydry on Friday May 06, 2022 @12:45PM (#31287262)
Ok, maybe I should have specified "under £650k within zones 1, 2 and 3".

I'm sure Roman Abramovich's mansion is freehold as are all those semidetached houses on the outskirts with a 55 minute commute to the centre.

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