Tuesday, June 3, 2014

The crash is doomed – Monbiot talks sense.

The only way to fairness in housing is to tax property

That's it now. There can never be a crash or a reform of the property market. The government can never accept what this guy says as true!

Posted by chrisch @ 08:34 AM (1962 views)
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5 thoughts on “The crash is doomed – Monbiot talks sense.

  • I love the way, that this website is turning bullish on property.

    No, there won’t be a property crash now. Just a currency crash.

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  • I am keeping my bearish comments to myself as the answer to the madness is to let it play out until it collapses again. This time there will be no interest rate cuts.

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  • The Guardian has a younger readership than the more right wing papers so has less interest in maintaining the status quo of a free lunch for landowners at everyone else’s expense

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  • A Different Simon says:

    How long before there is a state provided equity release scheme ?

    The Govt has already ramped up it’s presence in the mortgage market .

    8 out of 10 private sector workers are retiring with savings of less than £30,000 .

    There is a long lead time for compulsory saving into pensions funds to start bearing fruit and the contributions aren’t near enough .

    It’s by no means clear that the stock market can provide for the savings aspirations of the many . For a starter there simply aren’t enough investible companies out there to do it and the blue chips are now expensive .

    Maybe equity release schemes ARE the elite’s solution to the pension crisis .

    If so we are doomed .

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  • Monbiot is a radical anti-human genocidal socialist. His book states that humanity are a plague and he is for total de-industrialisation. It is no surprise that he would like to tax the living daylights out of our homes.

    As said so many times before, there are house price bubbles because mortgage backed securities are treated fraudulently as assets, creating a perverse incentive to create sub-prime loans because the loans can immediately be re-packaged and sold on to hapless investors whilst the banksters get off scott free and don’t have to care about defaults down the line.

    Simply require that mortgage backed derivatives and synthetic derivatives thereof are treated as liabilities on the bank sheet, and housing bubbles will not be a major systemic risk. But do that slowly, easing in proper accounting standards. And next we should get rid of rather than increase property taxes. Eliminate stamp duty, end VAT on household improvements and extensions. End taxation of electricity and gas used to heat our homes and fuel our appliances. Get off our bloody backs.

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