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fru-gal

Report Calls For "property Speculation Tax" To Prevent Housing Bubble

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The full report is available at the end of the link.

Property Speculation Taxes are used in other countries, such as Germany. They impose a high rate of tax if properties are sold quickly. The tax is tapered, with lower rates the longer the property is kept.

A PST would exclude ordinary homeowners and longer term investors. Its focus would be on curbing speculation, but could include second homes and empty properties.

Unlike the proposed Mansion Tax, a PST aims explicitly at discouraging speculative buying and selling. A Mansion Tax also does not discriminate between homeowners and investors.

http://www.mortgagef...housing-bubble/

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I do sometimes wonder with flippers though. Sometimes there is a cheap auction lot or a doer upper, but sometimes you just wonder.

Heres one recently. Went to auction in perfectly habitable condition

Went to auction with £110k guide. sold for £130k not even 2 weeks ago(well, plus £2k for auction fees and stamp duty, so £132k) now trying to be flipped as of today asking £155k.

http://www.rightmove.co.uk/property-for-sale/property-43368167.html

As shown by zoopla records, the previous owners had spent the last 3 bloody years trying to sell it around that price till they resorted to an auction. For the risk of spending another 3 years doing that, why bother?

http://www.zoopla.co.uk/property/38-benwick-road/doddington/march/pe15-0tg/18125590

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