Is it time to cap house prices?

SouthCoast

More Crack House Closure Orders are needed.

It will bring the house prices down on that street.

http://press.homeoffice.gov.uk/press-releases/new-house-closure-powers-asb

real1314

richdeniro wrote: »

Introduce a property tax rather than Council Tax. Say 1% on the first property you own, 5% p.a. on any others. The one you own is the one you're registered to vote at. That'll kill the property speculation dead for ever.

Maybe then people will invest in productive assets. You know, businesses, plant and machines, that kind of thing. This country has been selling houses at inflated prices and calling it "growth" for far, far too many years.

Woudln't that cripple councils and housing associations? Or would it just be on individuals? What about companies?
Another idea that stems from jealousy and a desire to blame just one section of the housing market when it's actually a collective cause and effect.

What else should we "kill" speculation on? Gold? Shares? Savings accounts? Pensions? Businesses?

It's all a bit communist isn't it. Has that system ever worked?

mewbie_2

real1314 wrote: »

Woudln't that cripple councils and housing associations? Or would it just be on individuals? What about companies?
Another idea that stems from jealousy and a desire to blame just one section of the housing market when it's actually a collective cause and effect.

What else should we "kill" speculation on? Gold? Shares? Savings accounts? Pensions? Businesses?

It's all a bit communist isn't it. Has that system ever worked?

chill bro'. yo ain't gonna need no cap in a year or two coz them crazee prices gonna come faster then my ho's you know whats.

m00m00

real1314 wrote: »

Woudln't that cripple councils and housing associations? Or would it just be on individuals? What about companies?
Another idea that stems from jealousy and a desire to blame just one section of the housing market when it's actually a collective cause and effect.

What else should we "kill" speculation on? Gold? Shares? Savings accounts? Pensions? Businesses?

It's all a bit communist isn't it. Has that system ever worked?

Housing is fundamentally different to those


Shelter is a basic human need, speculative gain is not.


I don't see people dancing in the streets with joy at the rampant food inflation we are undergoing which is disproportionately affecting those at the lower end of the income scale.

carolt

Quite. We live in a country where, illogically, we provide free health care as a mark of our civilisation, because basic health care is an essential human need (though dental care, apparently, is not - as long as you're alive, it's OK if you've got no teeth and can't afford false ones either). Yet we - or you, real1314 - don't seem to regard the right to basic shelter as essential.

I certainly don't think we have a right to own our own properties. But I do strongly believe that there should be caps or restrictions on speculating in property, until such time, at least, as everyone has SOMEWHERE to live, such as rent controls and security of tenure, so that those who have no choice but to rent, can afford to do so.

I firmly believe a society which leaves a generation of young people unable to afford a suitable home to house their children, or prevents some having children at all because they see no way of housing them, is a sick society. Housing is an essential need; whilst owning a second or third or whatever, is a luxury, having a roof over one's head is NOT a luxury, and anyone who suggests that it is has clearly never had to make the financial choice between shelter and other essentials like food; maybe you need to reaassess your values, real1314?

In answer to your final point, one answer springs to mind - kibbutzim. Very successful; I 've volunteered on one, and there you can see genuine communism at work. But communist states didn't work; largely because they were too corrupt. Although if you go to post-Communist countries now and see some of the hardships faced by those no longer given the basics by the state eg OAP's out street-cleaning in all weathers, just to survive, the choices between 'good' capitalism and 'bad' communism become more blurred, IMO.

dad-of-4

cap the prices anywhere you like, youll never make me want to buy a house.

LisbonLaura

BTLNEWbie wrote: »

When the next government is elected they should bring this is straight away.

One bedroom places should be capped at £40K.
Two bedrooms at £60K
Three bedrooms at £80k
Four bedrooms at £100k
Five bedrooms at £120k etc.

Post figures like that in five years time & you will be accused of talking up the market

BTLNEWbie_3

So what you all have been saying is this makes for an excellant idea, just a couple of small problems to overcome.
If I stand as an MP come the next election how many votes will I need to get elected and force through this great rescue package for the country.

skap7309

Personally i think the idea is terrible and so full of holes it is laughable (sorry).

It was previously mentioned that 3x mortage salary is a good one and i totally agree. Plain, simple and would keep house prices in check. BTL does not help keep prices affordable either...........

mizzbiz

anyone read "1984" by George Orwell?
Someone thought of this before you!