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Tired of Waiting

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Everything posted by Tired of Waiting

  1. Now I agree with you, there is a lot of "waste" in housing, but mainly by the older generations. Edit: But most of them don't have mortgages any more, and would not be pushed out of their bungalows by high IRs. The only remaining hope is that if saving accounts were paying higher interests some would be tempted to downsize? Not sure if many would though. Besides, our overall housing stock must improve, not only in numbers, but quality and size as well. .
  2. The myth of the "million empty properties": http://spatial-economics.blogspot.co.uk/2011/09/empty-homes-and-housing-crisis.html Only around 100k empty for over 6 months in the SE + London + East.
  3. If rates were hiked I would be able to afford a [email protected] house. But the evicted family would have to live in this [email protected] rented house. We could have better and bigger houses instead. Countries like France and Germany manage that. Why can't we? Wolf knows why: Because of the anti-building lobbies, like the CPRE, owners of land banks, and today’s homeowners. Incredibly, their propaganda is so powerful that it even works in this forum!, of all places! .
  4. I remember reading some very convincing posts here saying that UKIP's housing policies are [email protected] Though I don't remember details about it.
  5. Actually his solution is to work on both sides, stop over-inflating demand, and allow a supply increase, much needed in Britain. See below: http://shrinkthatfootprint.com/how-big-is-a-house
  6. Mr Wolf's main points: That the government’s Help to Buy scheme is really helping those who wish to keep housing costly: today’s owners, banks and housebuilders, a conspiracy to keep house prices exorbitant. A policy of increasing demand is absurd. The solution is evident, but politically unthinkable: make a large quantity of land available for development and impose a swingeing site value tax, to compel building. But this would be too unpopular and too dangerous because of stout resistance from the Nimbys, CPRE, owners of “land banks” and today’s homeowners. These lobbies are far too formidable for any government. Liberalisation might threaten UK banking. Unlike in Ireland, Spain or the US, house prices fall in the UK has been modest. Moreover, the constraints on supply that have kept prices up also curbed the pre-crisis building boom. Its egregious supply constraints (might have?) saved UK banks. The victims of this vile system are the young and upwardly mobile, who are either unable to buy at all or are trapped in a lifetime of debt serfdom. The political genius of the scheme is that it appears to help these hapless victims, while in fact helping the usual suspects: banks, homeowners, Nimbys and, if it creates another housing boom, the government. The government is committed to frighteningly expensive housing. It is a trap from which the UK may not now escape. [email protected] - - - FWIW, I think I'll email him a "thank you very much indeed!" for this article. Good man Mr. Wolf. Thank you! .
  7. "Buyers beware of Britain’s absurd property trap", by Martin Wolf. Absolutely brilliant. A must read. On the FT, but going through Google may allow non-subscribers to read it: https://www.google.co.uk/search?q=Buyers+beware+of+Britain%E2%80%99s+absurd+property+trap&ie=UTF-8#q=%22Buyers+beware+of+Britain%E2%80%99s+absurd+property+trap%22 .
  8. Actually Cameron quoted the BoE. And when asked again he did it again: "don't take it from me... the BoE..." Cameron did it twice in the Marr show alone, and repeated the answer in other media as well. That tells me Cameron is well aware of the risks, and is already positioning the BoE to take the blame. I would love to have seen Carney's face watching the Marr show. [email protected] all of them. Feck them all.
  9. Yes. And she is treating LTV and property (incl. buildings) taxes as if they were almost the same thing. Besides, why the need to be the "only" tax? I think it should be the only tax on property (no more taxing improvements on the land, such as buildings), but the gov could keep taxing income, VAT, fuel/alcohol duties, etc. Why not?
  10. Very interesting article. Thanks for pointing it out. And the link via Google works. This Danish policy is brilliant:
  11. I think we have to use the "catch-up" link now: http://www.channel4.com/news/catch-up/ Edit: Actually it's still easier to use gf3's link: http://www.housepricecrash.co.uk/forum/index.php?showtopic=193372&view=findpost&p=909395040 .
  12. But you can't be sure that those £150 will be spent on the baby. That's why I was thinking about food/clothes vouchers instead.
  13. Excellent point hayder! First time I hear/read it. Thank you! Of course! In any other area external competition would force the locals to shape up, or go bust. But that doesn't happen in the building industry. The cause? Our planning system?
  14. fluffy666 had some good arguments above, and Petri Dish reminded us of how much we are spending already. Besides, IIRC our estimates were based on a lower CI. Remember that it can be easily supplemented by just a few hours of work/week. I think durhamborn was suggesting £360/month. This would be just enough for basic food and basic accommodation (probably a studio or shared accommodation, and in a cheap region of the country). But just 10 hours of work / week, even at minimum wage, would take the monthly income to around £600 = £12k/year. One issue that would remain very difficult is regarding children. As a civilised society we must guarantee that all children are well provided for, but we can't repeat the past mistake of offering financial incentives for people to have children. I don't know how to square this circle. Perhaps one option could be to offer free services, but not cash? Like free child care, free nurseries, even food vouchers, clothes vouchers, etc., but not cash?
  15. Urban plot, for a detached house, 460m2, for E115k: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.immobilienscout24.de/expose/69942329&usg=ALkJrhgnW5-GgSVpMShzhpuhUF_5zkY-tA Plot for a "weekend house", 1,300m2, E48k: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.immobilienscout24.de/expose/69467556&usg=ALkJrhjNKd2Ez2knUP-7p9hYygxNpwmnhA The site also has a whole section for building plots, like in any country on earth, bar Britain.
  16. The only chance LVT would have political support would be if it was a replacement for Council Tax, and reducing the tax paid by the majority of the population, ideally over 2/3 benefiting.
  17. Plenty of low skills jobs around, and with CI people would be allowed to do them, to top up their monthly income. Yes, we should reduce another property tax, not income tax, like eliminating Council Tax and Stamp Duty. Your friend can't afford and doesn't deserve that house. Farm land can have a much lower rate than residential properties. With CI all barriers and disincentives to work would be removed.
  18. I've been trying to tell that to people here for years. People just don't get it.
  19. I used to think that as well, that it would be unaffordable, but after some estimates, it may be possible. As you say, it wouldn't cost much more than the current system, but with some economic and even political advantages. Economically the two main advantages are the elimination of perverse incentives and the huge bureaucracy needed for means testing the current system. Politically, remember that taxpayers (and family) will get CI too, getting a partial return on their taxes, reducing their resistance, and the economic advantages above can be explained to them. It may be possible after all.
  20. Yes, I was expecting that, but even if we compare your prices with our "provincial" cities, say our average income is around 30k, those plots would cost less than £40k! That is less than half what plots of that size would cost here. Besides, Rightmove doesn't even have a section for building plots! UK property sites simply don't have this section! I don't know of any other country where that happens. .
  21. Sure, I am not saying that the price would stay the same, just £1k per plot (you can build 10 to 20 houses in 1 acre), of course not. But to go up by a factor of 100 is ridiculous. Your example is brilliant! (Thanks for that BTW). Good sized residential plots (160 to 300m2), in a medium sized city, for just 20% above average household income?! It would be great if we had the same here!
  22. I understand, I feel the same way. I am a tenant and a taxpayer. My taxes are used to prop up house prices and rents against my own interests. Problem is, the majority of voters do vote for these parties and policies, unfortunately. We do have a choice though: emigration. We are not forced to stay here.
  23. Very good point, sorry, I stand corrected! I should have said "tax takes".
  24. Yes, exactly, something like that. For instance, a 2% growth per year. A village of 100 houses should allow 2 new houses per year.
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