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Yeah, it's good they acknowledge - throw the proles a bone every now and again.  But....kind of pointless now - would have been more powerful and effective when the proles (who know nothing compared to the BBC, right?) already knew all of this 10 years ago.  Also why didn't she attack low IRs and HTB?  Better late than never, but only just.

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Worth mentioning that it's not just the global super rich buying. That just comes across as the politics of envy, it's the leveraged loons back in Asia, China too, local mortgages and syndicates. 

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3 hours ago, canbuywontbuy said:

Also why didn't she attack low IRs and HTB?  Better late than never, but only just.

Exactly, no mention of the central bank / treasury policies that are adopted across the world and are the real problem. Limiting home purchases to citizens or residents is meaningless when citizenship is for sale anyway. This piece is just idiotic populism.

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Also all the countries they name as restricting buying from overseas were nice, white, western countries.  

 

They could have chosen China, HK, and Singapore - much more effective controls.

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They've effed up the whole country and now they are trying to claw back some credibility. It's debt not wealth that fuels the property market. The refuseniks are not the poor but those that refuse to load up on insane amounts of debt. 

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3 hours ago, canbuywontbuy said:

Yeah, it's good they acknowledge - throw the proles a bone every now and again.  But....kind of pointless now - would have been more powerful and effective when the proles (who know nothing compared to the BBC, right?) already knew all of this 10 years ago.  Also why didn't she attack low IRs and HTB?  Better late than never, but only just.

Not really. We've got a new potential tax base.

Start charging them 10% of the property value. Every year.

At the moment the UK gets a lotof money laundered in it. This needs to stop.

And theres the knock on affect of prices and screwing over the citizens.

Start taxing non resident home owners. FFS most other countries will not let you buy anything without being a citizen.

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Should have been tackled decades ago. Now the slightest sign of this will collapse the market, which is needed but unpalatable for owner occupiers. 

The only measure I can see be bought in would be superficial and designed to look like something was being done.

Fact is if UK housing market keeps going the way it is then these oversea buyer start to see how foolish they have been investing in housing.

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