EddardStark Posted October 28, 2014 Share Posted October 28, 2014 Just spent a few days in Cornwall. Apparently has one the highest levels of second home ownership. Over 23000 properties. Yet there is 20000 on the county waiting list for houses and in 2013 the average wage was £21k but the average house price in St Ives is £350k. There are some streets in St Ives where only 2 houses not being rented out. In the winter the town is a like a ghost town. Causing a lot of resentment .Some say the locals cashed in but to be honest a lot of them sold well below the levels these properties are being sold at now. No doubt this is being repeated in a lot of "desirable" locations in the UK. Quote Link to comment Share on other sites More sharing options...
Parklife Posted October 28, 2014 Share Posted October 28, 2014 That's capitalism for you Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 28, 2014 Author Share Posted October 28, 2014 Hey. Capitalists care as well you know. Quote Link to comment Share on other sites More sharing options...
Toepoke Posted October 28, 2014 Share Posted October 28, 2014 The same thing exists on a smaller scale closer to home eg. Arran. Housing policy in the UK is monumentally fecked, another legacy of Thatcherism happily embraced by New Liebour... Quote Link to comment Share on other sites More sharing options...
Ormond Posted October 28, 2014 Share Posted October 28, 2014 Or just have a job at Westminster and the public will take care of all payments for you! Quote Link to comment Share on other sites More sharing options...
Parklife Posted October 28, 2014 Share Posted October 28, 2014 Hey. Capitalists care as well you know. They only care when it affects them. They're selfish kunts. Quote Link to comment Share on other sites More sharing options...
biffer Posted October 28, 2014 Share Posted October 28, 2014 It's the nature of the free market - supply is never meant to completely fulfill demand, as that won't deliver the most efficient price in economic terms. The only way to change the efficiency of the price is through the tax and regulation system. We have the same problem in many areas of Scotland, where it's impossible for young families to find a home where they work. The best way to attack this in my opinion is to tax the hell out of it. If you don't live somewhere for over six months, ten times council tax. If it's being rented as a holiday home, a surcharge tax on holiday home rentals. So for every ten or so properties you'd have the money to build one affordable home each year. A slow burn, but a long term solution. Quote Link to comment Share on other sites More sharing options...
deecie Posted October 28, 2014 Share Posted October 28, 2014 Sounds a lot like Aberdeen. Not to worry though, the war in Afghanistan is over now. Quote Link to comment Share on other sites More sharing options...
EddardStark Posted October 28, 2014 Author Share Posted October 28, 2014 It's the nature of the free market - supply is never meant to completely fulfill demand, as that won't deliver the most efficient price in economic terms. The only way to change the efficiency of the price is through the tax and regulation system. We have the same problem in many areas of Scotland, where it's impossible for young families to find a home where they work. The best way to attack this in my opinion is to tax the hell out of it. If you don't live somewhere for over six months, ten times council tax. If it's being rented as a holiday home, a surcharge tax on holiday home rentals. So for every ten or so properties you'd have the money to build one affordable home each year. A slow burn, but a long term solution. council tax loopholes where tightened last year but the rich can afford or the landlord passes them on. Quote Link to comment Share on other sites More sharing options...
biffer Posted October 28, 2014 Share Posted October 28, 2014 council tax loopholes where tightened last year but the rich can afford or the landlord passes them on. I know. But the application of a tax like this enables a deliberate manipulation of the market in order to enhance supply at the lower end, thereby applying the brakes on price inflation and making some instances uneconomic. This isn't about loopholes, it's about new tax strategies. The property market is a dysfunctional one, economically speaking, so requires legislation to ensure its correct functioning - and as Adam Smith demonstrated, the purpose of any market is to service society. Landlords not particularly relevant in this case - it's holiday lets only, not longer term rental properties. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.