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Sam Gyimah Housing proposals

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Okay so the Tory leadership race is, erm, hotting up and with the help of ex-Adam Smith Institute director Sam Bowman, leadership hopeful Sam Gyimah has come up with a revolutionary neo-neo-liberal housing policy to own the plucky young Corbynite whippersnappers and make the Tories great again. Ajyhulia!

Heres CAPX with the lowdown: 

 https://capx.co/how-the-tories-can-win-on-housing-again/

And here’s the main points if you’ve already lost the will to click:

1. Let local residents vote to build mansion blocks on their streets. 

Apparently they’ll benefit from the uplift in land values so the NIMBYs will be magically metamorphosising into YIMBYs. Homo economicus is in town and he’s rationally optimising for high density city living.  

2. Allow builders of infrastructure projects like new railways to build along the line to fund it. 

Okay so this isn’t a bad idea, I mean, not so sure how it works for HS2 but... 

3. Put right to buy on steroids

The council tenant uses their discount to buy a house first, then the council sells their old property to fund the discount. This means you don’t need to be able to afford your now unaffordable council house to benefit from the tax payer, er... I mean the property goldmine you’re rightfully sitting on. The barrel is scraped and we can finally get rid of all those pesky Labour-voting council tenants. Gideon will be pleased  

Not sure what happens when all the remaining council housing is finally sold and bought up by slumlords. More housing benefit I guess. 

4. Scrap stamp duty for properties under £1m

This old chestnut. Yeah stamp duty is a rubbish tax. No, scrapping it won’t make housing cheaper. I guess it encourages the boomers to trade down... maybe? Whatever. 

And that’s yer lot

So there you have it guys and gals. The Tories are back in the game, the young Corbynistas are about to realise the error of their ways, and neoliberalism is saved.

Rejoice ye, Rejoice ye!

Edited by Bear Goggles
Gramaaar and spoeilinggg

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Scrapping stamp duty would be good, yes it won't make any particular house cheaper on the day but over time I would expect an increase in transactions which should speed up the rate at which the market finds its level.

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13 hours ago, Bear Goggles said:

2. Allow builders of infrastructure projects like new railways to build along the line to fund it. 
Okay so this isn’t a bad idea, I mean, not so sure how it works for HS2 but... 

So in the case of HS2 they're going to compulsory purchase houses, to build a railway line, and then allow the builders to build houses along the railway line?

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42 minutes ago, winkie said:

Where do they think the railway will take them?;)

Railways to nowhere. Who wouldn't want to live in a hamster cage right next door to one?

Sign me up, rent farmers. And take two-thirds of my disposable income for the privilege.

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3 hours ago, zugzwang said:

Dog kennels in the sky next to a railway line...

:rolleyes:

 

...with tangerine trees and marmalade skys...

It’s a millennial take on John Lennon’s experiments with psychedelic drugs. I can’t wait to snort a couple of lines of Michael Gove‘s housing policy. 

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3 hours ago, Bradbury Robinson said:

So in the case of HS2 they're going to compulsory purchase houses, to build a railway line, and then allow the builders to build houses along the railway line?

Ha ha, yes. Not exactly a vote winner with shire Tories in the Home Counties I wouldn’t have thought. But given their average age they’ll probably all be pushing up the daisies way before the first train high speed train leaves Euston. 

Edit: Oh and I forgot, just think of the uplift in land values, grandpa. Nurse!

Edited by Bear Goggles

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4 hours ago, Bradbury Robinson said:

So in the case of HS2 they're going to compulsory purchase houses, to build a railway line, and then allow the builders to build houses along the railway line?

And somehow fit an access road in too? They'd have to replan the whole route....

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1. Why would anyone want new 6 story blocks of flats on their street instead of low rise terraces?

2. Not a bad idea. If the govt is buying land for railways, might as well plonk down a few rabbit hutches along the lines. At least it would dampen the noise pollution.

3. He wants to sell existing social housing while handing over 35% of the sale price to the tenant so they can buy a whole property somewhere cheaper. It's like a bribe to poor people to bugger off. 

Councils will then need to use the remaining 65% of the proceeds to pay 100% market rates for new social housing in their borough.

4. I'm all for tax cuts but he has to make up that yearly £9billion somewhere. 

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I've found the best policy of all is not to believe a single pledge, promise, or vow before, during, or after any campaign if uttered from a politician's mouth. Ever. 

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2 hours ago, Bear Goggles said:

It’s all over for Sam. Looks like we won’t get our mansion blocks after all. . 

Don't bet against it. <_<

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On 09/06/2019 at 21:13, Bear Goggles said:

4. Scrap stamp duty for properties under £1m

This old chestnut. Yeah stamp duty is a rubbish tax. No, scrapping it won’t make housing cheaper. I guess it encourages the boomers to trade down... maybe? Whatever. 

Don't put arbitrary limits on things like this. Retarded.

Scrap stamp duty, replace it with an annual land value tax. I want to move house but I'm considering renting instead of selling because I don't want to incur a huge sunk cost just for the privilege of living somewhere new. 

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19 hours ago, dugsbody said:

Scrap stamp duty, replace it with an annual land value tax.

Agree 100%

It's a tax on moving house, something that a well-functioning economy should be ENCOURAGING people to do not discourage it: upsizing, downsizing, moving to follow the work etc etc 

My only fear is - how could a land value tax ever be introduced without making the party that did it wildly unpopular, and then having the next government elected on a ticket to abolish it?  It would be the next poll tax :(

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9 hours ago, scottbeard said:

how could a land value tax ever be introduced without making the party that did it wildly unpopular

Make it so that every £1 raised in LVT would fund £1 in basic income.

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Okay, so I should have started this thread as a “PM hopefuls’ housing policy” thread because it seems Dominic “cross-channel” Raab has taken it all up a notch by proving that he is not only geographically challenged, but economically challenged too. 

https://www.thesun.co.uk/news/9299472/dominic-raab-right-to-buy-one-million-housing-association/

TLDR He’s proposing right to buy for housing association tenants offering a discount of up to £115k. 

Now when Thatcher sold off council housing on the cheap, you could make the ideological case that it wasn’t destroying a national asset and picking a one-off generation of winners, it was removing houses from the dead hand of the state and handing them to those who actually live in them to create a property owning democracy.

But housing associations are private companies. Comrade Raab is presumably going to use tax-payers money to compensate these organisations for an effective compulsory purchase of their assets at below market rate. 

That’s not even socialism, it’s like someone’s slipped acid into the punch at the Bolshevik Reenactment society’s summer drinks party. 

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If Raab cared about housing maybe he could have done something about it when he was, y'know, Housing Minister?

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On 09/06/2019 at 21:13, Bear Goggles said:

Okay so the Tory leadership race is, erm, hotting up and with the help of ex-Adam Smith Institute director Sam Bowman, leadership hopeful Sam Gyimah has come up with a revolutionary neo-neo-liberal housing policy to own the plucky young Corbynite whippersnappers and make the Tories great again. Ajyhulia!

Heres CAPX with the lowdown: 

 https://capx.co/how-the-tories-can-win-on-housing-again/

And here’s the main points if you’ve already lost the will to click:

1. Let local residents vote to build mansion blocks on their streets. 

Apparently they’ll benefit from the uplift in land values so the NIMBYs will be magically metamorphosising into YIMBYs. Homo economicus is in town and he’s rationally optimising for high density city living.  

2. Allow builders of infrastructure projects like new railways to build along the line to fund it. 

Okay so this isn’t a bad idea, I mean, not so sure how it works for HS2 but... 

3. Put right to buy on steroids

The council tenant uses their discount to buy a house first, then the council sells their old property to fund the discount. This means you don’t need to be able to afford your now unaffordable council house to benefit from the tax payer, er... I mean the property goldmine you’re rightfully sitting on. The barrel is scraped and we can finally get rid of all those pesky Labour-voting council tenants. Gideon will be pleased  

Not sure what happens when all the remaining council housing is finally sold and bought up by slumlords. More housing benefit I guess. 

4. Scrap stamp duty for properties under £1m

This old chestnut. Yeah stamp duty is a rubbish tax. No, scrapping it won’t make housing cheaper. I guess it encourages the boomers to trade down... maybe? Whatever. 

And that’s yer lot

So there you have it guys and gals. The Tories are back in the game, the young Corbynistas are about to realise the error of their ways, and neoliberalism is saved.

Rejoice ye, Rejoice ye!

Sounds great. I hope Boris makes him housing minister.

Nobody outside East Berlin wants to rely on the government to provide their housing and they couldn't exactly move to somewhere this was possible.

Stamp duty is an invidious tax on mobility and a spanner in the Labour market.

A child with a pile of Duplo blocks could add more aesthetic value than the big house builders. Those mansion blocks are seriously desirable.

 

The country is full of empty land. There is no reason why young people with good jobs should need government handouts to own a home.

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44 minutes ago, Wayo said:

Sounds great. I hope Boris makes him housing minister.

Nobody outside East Berlin wants to rely on the government to provide their housing and they couldn't exactly move to somewhere this was possible.

Stamp duty is an invidious tax on mobility and a spanner in the Labour market.

A child with a pile of Duplo blocks could add more aesthetic value than the big house builders. Those mansion blocks are seriously desirable.

 

The country is full of empty land. There is no reason why young people with good jobs should need government handouts to own a home.

The country's full of expensive empty land. It's the cost of land that makes home owning (and rents) unaffordable for young people. The cost of land inflated by Boris Johnson's criminal friends in the City of London, beneficiaries of a decade long rolling bailout and profiteering opportunity. Likewise the house builders, grown sleek and fat via a literal alphabet soup of govt subsidies, kick backs and sweeteners, provided at zero cost by the Conservative Party whose most prominent cheerleader is one Boris Johnson. Who else?

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On 17/06/2019 at 22:10, Wayo said:

Sounds great. I hope Boris makes him housing minister.

Nobody outside East Berlin wants to rely on the government to provide their housing and they couldn't exactly move to somewhere this was possible.

Stamp duty is an invidious tax on mobility and a spanner in the Labour market.

A child with a pile of Duplo blocks could add more aesthetic value than the big house builders. Those mansion blocks are seriously desirable.

 

The country is full of empty land. There is no reason why young people with good jobs should need government handouts to own a home.

The point is that this set of policies won’t make any difference. Housing will still be unaffordable because land is expensive and rent seeking is rife. He’s not proposing a change in planning laws, NIMBYs will still oppose new buildings on their streets, and everything else he proposes is fiddling around the edges. 

The reason young people with good jobs are turning to socialism is because they can’t see any viable policies coming from the continuity neoliberals. Unless the free market advocates start proposing a radical solution, like a LVT, it really is just a countdown to a more socialist housing policy (from whatever party wants their votes, not just Corbyn). 

 

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