T McGibney
Registered User
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Bit of a conflict here.
Bit of a conflict here.The whole conversation around housing is extremely economically illiterate and emotive. The Mrs. Lovejoy "Will someone please think of the children" type reporting in most of the media doesn't help. For most politicians and commentators the "solution" has to fit inside their ideological envelope. That's a big part of the problem.
In my opinion we need to tax wealth retention more and wealth creation (labour) less. More property tax and less income tax. It's fairer if we want a society built on equality of opportunity and it lowers property prices. Then again I'm a bit of a socialist.
My comment was a bit tongue in cheek. I'm rarely accused of being a socialist, though from your perspective it would be a fair comment.Bit of a conflict here.
Shouldn't we all be leaving our ideological biases at the door in resolving this issue, you know as you said yourself in comment #41?My comment was a bit tongue in cheek. I'm rarely accused of being a socialist, though from your perspective it would be a fair comment.
My ideological bias is that I believe in equality of opportunity so taxing unearned gains is better than taxing earned gains.
Yes, we should. If someone shows me evidence that increasing property tax doesn't reduce house prices then I'll change my opinion.Shouldn't we all be leaving our ideological biases at the door in resolving this issue, you know as you said yourself in comment #41?
Totally beside the point.Yes, we should. If someone shows me evidence that increasing property tax doesn't reduce house prices then I'll change my opinion.
What do you think we need to do in order to provide that reasonable level of housing?As a country, we have lost our way on ensuring housing availability as everyone has an ideological axe to grind and politicians prefer not to take any action that means they might lose support and votes. This is the 15th year since 2008 and at the current rate of going we can expect to wait another 15 before nettles will be grasped and reasonable levels of housing availability are achieved.
Again that's beside the point and in any event I've told you plenty of times previously.What do you think we need to do in order to provide that reasonable level of housing?
Of course! But many people have multi-decade investment horizons.But CGT relief only comes in to play when the property is sold.
You've said that we should reduce/remove regulation on building. I think, within reason, that would help but I don't think it would come anywhere near to solving what is an international problem.Again that's beside the point and in any event I've told you plenty of times previously.
That's a bit vague and contradictory.I don't care what they do. I just want it done. It's long past time.
Why did you ask me again this morning for my opinions if you knew in advance what my opinions are, wasting everyone's time?You've said that we should reduce/remove regulation on building.
It's only an international problem because the same policies are increasingly being followed everywhere. The UK for example is right now copying our ban on no-fault evictions, even though our record in the meantime should be no model for anyone.I think, within reason, that would help but I don't think it would come anywhere near to solving what is an international problem.
It's also true. The State employs enough experts to come up with solutions. It's up to them to do more than collect their monthly payslips. I literally don't care at this point if they release every murderer and rapist in the country's jails and have them build houses if that would work.That's a bit vague and contradictory.
Hm..perhaps an "either/or" in that case.CGT relief approach
Why would you create wealth if you are going to lose it by retention?The whole conversation around housing is extremely economically illiterate and emotive. The Mrs. Lovejoy "Will someone please think of the children" type reporting in most of the media doesn't help. For most politicians and commentators the "solution" has to fit inside their ideological envelope. That's a big part of the problem.
In my opinion we need to tax wealth retention more and wealth creation (labour) less. More property tax and less income tax. It's fairer if we want a society built on equality of opportunity and it lowers property prices. Then again I'm a bit of a socialist.
Because your solution won't solve the problem. It will just somewhat alleviate a symptom.Why did you ask me again this morning for my opinions if you knew in advance what my opinions are,
Lovely.wasting everyone's time?
No, it's an international problem because every government printed money to avoid the consequences of the last crash, then did it again during Covid. The international housing shortage is a consequence of that.It's only an international problem because the same policies are increasingly being followed everywhere. The UK for example is right now copying our ban on no-fault evictions, even though our record in the meantime should be no model for anyone.
That wouldn't work.It's also true. The State employs enough experts to come up with solutions. It's up to them to do more than collect their monthly payslips. I literally don't care at this point if they release every murderer and rapist in the country's jails and have them build houses if that would work.
I'm not here to argue about the potential solutions I'm advanced on other threads in the past. Please *again* stop...Because your solution won't solve the problem. It will just somewhat alleviate a symptom.
wasting everyone's time
Yes, pretty much what I said:No, it's an international problem because every government printed money to avoid the consequences of the last crash, then did it again during Covid. The international housing shortage is a consequence of that.
an international problem because the same policies are increasingly being followed everywhere.
We're not talking about wealth people created. We're talking about the inflation of that wealth due to money printing by international central banks.Why would you create wealth if you are going to lose it by retention?
In the decade and a half since the last crash we used QE to more than double the amount of money in the world. Almost all of that money went to people over the age of 45. That's the problem. We replaced the lost wealth of older people by making up money and giving it to them, replacing the money they had in the banks, replacing the money their pension funds held in stocks and shares and re-inflating the value of their homes. That halved the value of labour relative to capital. That's why young people can't afford houses and why house prices have grown so much relative to earnings.I too am a bit of a socialist and would go further than just taxing landlords or granting 10 year leases. How about compulsory purchase orders on land within a 20k radius of cities and build modular homes? Bedroom taxes in corporation/council properties. Social housing for a fixed term. Property tax (similar to council tax in London) for tenants with long leases. Rents linked to salary.
Not sure why thats funny?Hm..perhaps an "either/or" in that case.
I'm looking for income, my heirs whomsoever they may be can worry about cgt.
So you're not here to offer or defend your own opinions, just to say that the government should do "something".I'm not here to argue about the potential solutions I'm advanced on other threads in the past. Please *again* stop...
No, it's entirely different to what you said. You said that increasing rent controls and regulations are causing the problem and that removing them is the solution. That's incorrect.Yes, pretty much what I said:
No, that's a separate problem.In the decade and a half since the last crash we used QE to more than double the amount of money in the world. Almost all of that money went to people over the age of 45. That's the problem. We replaced the lost wealth of older people by making up money and giving it to them, replacing the money they had in the banks, replacing the money their pension funds held in stocks and shares and re-inflating the value of their homes. That halved the value of labour relative to capital. That's why young people can't afford houses and why house prices have grown so much relative to earnings.
My doctor can't cure an underlying condition; they can however alleviate symptoms with medication.symptoms of that problem.
That's the root cause of the housing shortage.No, that's a separate problem.
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