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daveboden

Affordable Housing Is A Stealth Tax

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There's a development of 500 houses going up next to Greenwich mainline station (New Haddo Estate). Over half of them are classed as affordable housing.

I've got nothing against Police, Nurses etc. having somewhere to live. They're pretty useful people to have around.

However, subsidising housing is not the way to do it. Instead, the public sector should pay workers enough to attract them to central London. Then workers can choose to rent or buy, and if they're massively priced out of the market then they can choose to live and work somewhere else where they get a better standard of living.

If the public sector couldn't subsidise housing, there's no way it could pay public sector workers enough to attract them to live in Greenwich! So maybe they'd wake up and realise that the earnings / property prices ratio is absolutely ridiculous and something needs to be done about it. By subsidising housing, they skip the issue and the tax payer secretly ends up footing the bill.

(I work for an investment bank, by the way, and I can just (just!) afford a 1 bedroom flat in Greenwich. I can't afford one of these new ones...)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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