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My Fix For The Housing Crisis: Ban Ownership By Foreign Non-Residents

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It is the one point on which all people and parties agree: Britain’s housing problem is one of supply and demand. The solution is to build more homes. It doesn’t matter who owns them: once we have more supply, the normal market – where perfectly equal individuals reach great deals through mutual self-interest – will resume. This orthodoxy on house-building is so ingrained that if you query it you are regarded as a person who doesn’t understand supply and demand.

Last week the economist John Kay argued that, at the current rate of building – 100,000 homes in 2014 – even to replace existing stock will take 270 years, given that there are 27m dwellings in the country. But this is not accurate – there were actually 141,000 built last year, I guess he was rounding down for ease of arithmetic. It is not enlightening – like a TV chef filling a bus with sugar and yelling “Milwaukee consumes this much sugar every quarter”, the extension is supposed to give a sense of scale, but instead bestows senseless impotence. Ultimately, it is misleading; houses aren’t people, or crops: they don’t have to be replaced every year. Indeed, if you make them really well, you might expect them to last 270 years.

But the supply argument is not a simple mistake; it is deliberated and dearly held. Once you accept it, other things follow: supply is too low because planning is too stringent, because people are selfish and they would prefer to have a large garden than to help their fellow man. It follows also that supply wouldn’t be a problem if demand were lower, so now there are people to blame: immigrants, baby boomers with their great big houses, divorcees who have perverted the supply chain with their toxic personalities, people living alone, whose atomised existences are unsustainable in our tiny jewel of an island. [more at link]


http://www.theguardian.com/commentisfree/2015/jun/22/housing-crisis-ban-ownership-foreign-non-residents?CMP=Share_AndroidApp_Facebook

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The answer is not more Socialism. The answer is more Capitalism and free markets.

Banbankbailouts

Letmktsetrates

banHTB

etc

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The answer is not more Socialism. The answer is more Capitalism and free markets.

Banbankbailouts

Letmktsetrates

banHTB

etc

Its the 'free market' and foreign capital that seems to be buying up the houses though!

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The answer is not more Socialism. The answer is more Capitalism and free markets.

Banbankbailouts

Letmktsetrates

banHTB

etc

Do you understand the difference between statism and socialism?

No, actually do you even know what statism and socialism are? Hint: believe it or not socialism isn't just a label you use for something you don't like.

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