Re: WTF? A new tax?

On 2 Jan, 08:09, "Display name:" <nokia.acco...@xxxxxxxxxxxx> wrote:
Mogga wrote:
On Tue, 01 Jan 2008 00:58:19 +0000, Jonathan Bryce
<jonat...@xxxxxxxxxxxxxxxxxxxxx> wrote:

Gaz wrote:

'Affordable housing' = Labour voters.

Shirley Porter got surcharged for signficantly less.

A lot of the "Affordable" housing is for people earning > £30k.
While people with that sort of level of income can't generally
afford a house, they are not what you would generally think of as
low paid workers.

Affordable housing is nulabour spin.
Flats near me had to have 10% affordable housing. That meant they had
to sell them at a discount. So 85k rather than 120k. Yes it is a
discount, but the average wage in Oldham is 22k according to a recent
newspaper article so even a 3X mortgage is out of reach for the
affordable flat (Ignoring the £90 a month service charge the developer
reaps too)
Before you say 5X mortgage makes them affordable, I'll just point out
the teeny tiny mortgage problems going on relating to a credit crunch
caused by lenders ledning silly amounts of money.

One solution is to make property only for owner occupier or renting at
the market rent. This would take the incentive for investing in the
property market away and bring house prices back to a sensible level.

I think you need to stop smoking that sh*t, because the ENTIRE reason for
the house-price boom of the last 15 years is the increase in the number of
buy-to-let investors - who by substantially increasing demand, have forced
prices to the absurd levels we currently see.

It is lack of supply. Planning restrictions are choking the supply.

BTL is only a small portion of the market. In many cases BTL
investors are helping to renovate housing stock.
These types of houses are often bought at auction rather than
competing directly with FTBs

In any case BTL has apparently evaporated.

The collapse of confidence in private pensions schemes coupled with Brown's
plundering of them, has meant that investors get better returns on safer
investments in the housing market.

The only way out of the crisis is tax penalties on buy-to-let investors to
fund tax incentives to house-builders.
A nice proviso would be that said incentives be contigent on the build
quality of new houses, so we don't end up a nation living in cardboard
rabbit hutches.

They need to be built to a good standard period. Bringing developers
up to the standards of council housing would be a start.




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