Monday, Dec 22, 2008
Demand over supply......ha ha
BBC News: UK 'must act' to fill empty homes
"Government action is needed to free up more than 750,000 empty houses for homeless people, says the Royal Institution of Chartered Surveyors.".......we need to bulid more houses
Posted by titaniccaptain @ 04:03 AM (516 views) Add Comment
5 Comments
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1. charlie brooker said...
Er, surely these properties need to be compulsorily purchased by the government and distributed starting with FTBs and the homeless. Mortgages offered at very low rates of interest directly by the BoE and owners losing their properties given reasonable compensation.
The reason for Britain's economic and financial constipation is because of the social injustive that took place and the social inequality that was allowed to build up; the cautious who did no harm were wisely hesitant in getting into property in fear of the actions of the greedily reckless. The latter should now be made to pay with social justice restored and social equality brought back into balance.
Thatcherism instilled the culture of winner takes all and destroyed one of the Britains better qualities; fiduciary duty (the obligation to act in the best interest of another party, in this case one's fellow countrymen and women). John Nash's F*ck You Buddy became the accepted norm and now the result is the near bankruptcy of the United Kingdom.
2. titaniccaptain said...
ooohhhhh CB......got me thinking (Not good after drinking pub dry)
"Er, surely these properties need to be compulsorily purchased by the government and distributed starting with FTBs and the homeless. Mortgages offered at very low rates of interest directly by the BoE and owners losing their properties given reasonable compensation.".........wouldnt that encourage people struggling to pay their mortgage hand in their keys and stop paying their mortgage????and excelerate the HPC?.....how about writing off the owner's debt and cancelling the bank bailouts then selling the houses to the FTBs from the BOE/gov...........I think I need to drink more often maybe my specific metabolism needs booze to work at optimum..........well thats what im going to tell my wife...........
3. Dbc Reed said...
There is an outfit called the Empty Homes Agency which gives regular up dates and break-downs by area.My impression from looking at it the illustrations is that many of the houses are uninhabitable.The present policy seems to be to help the owners do the places up.But this is an emergency for LVT man: it would be better in a lot of cases to apply a stiffish Land Value tax,get the owners to throw in the towel and then for local tax authorities to auction off sites for a re-build.Or the local authority to build affordable local authority houses( council houses) for rent, putting them up on Internet to encourage labour mobility.
4. it_is_going_with_a_bang said...
If the properties are not economically viable at the current prices and market levels then .... the owner obviously bought at the wrong price.
Of course they would renovate and rent if it was economically viable. But there are already empty homes available for rental anyway - creating more private homes for rental is a waste of time.
As a tenant you don't have the same rights in a private rented property as you do in housing association or council house either.
RICS are just trying to drum up business and it is as simple as that. Pretending to be good samaritans as Christmas is just not very convincing at all.
More social housing is needed - so build it properly or buy them at the 'right' price.
It should not be the cost of renovation that dicates when work is afforable but the price of the property!!!!!
5. Happyrenting said...
My prediction is that, in a few months time, a number of these empty, "luxury" 2-bed city centre apartments - so often over-priced and milked by the Buy To Let brigade - will be seized en masse by the government and handed over to the council to ease some of the 4 million names on the social waiting lists. These new homes, already massively hit by the slump, will then slump even further pushing BTLs into further misery (few will have sympathy) and, no doubt, prompting many of the young professionals (renters and owner occupied) to get out while they can... Tough months ahead...