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Dutch cities want to ban property investors in all neighborhoods

nltimes.nl

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Re: Dutch cities want to ban property investors in all neighborhoods

#201

Post by refurb »

itsdsmurrell wrote: post #160
iso1210 wrote: post #149

Earlier quoted context omitted.

> Round here in Cornwall the jobs are things like surf instructor, supermarket worker, barperson, etc. That's not gonna stretch to the local house prices. That was the case. A colleague of mine, originally from St Just, moved to London for work as so many have to do. Another from near Cockermouth did the same. Both now work remotely full time from their 'home towns' on decent wages. Covid has done wonders for local c…

The real problem is how much the bank earns off the interest it charges you throughout your life while it had to do what?... create new money from nothing into the money supply with special permissions given to it by the government. This is why housing is so expensive to begin with. This bullshit needs to stop.

The bank is collect money in the future that is worth less than what they leant out today - time value of money.

Charging 0% interest means the bank is losing money.

Re: Dutch cities want to ban property investors in all neighborhoods

#202

Post by Quarrelsome »

csomar wrote: post #46
anothernewdude wrote: post #37

Earlier quoted context omitted.

Those empty homes should be torn down or squatted in. I imagine an organisation like a squatters union could be set up to manage protection for them.

Sure. Let's fix a housing crisis by completely breaking up laws, society and order.

squatting is a "solution" to empty houses. Its not a good solution but it certainly draws attention to the issue.

Re: Dutch cities want to ban property investors in all neighborhoods

#203

Post by the_gipsy »

murgindrag wrote: post #85
nmca wrote: post #42

In the long term, the ethically right answer seems pretty clearly to me to be a land value tax [0]. But due to encouragement of home ownership [1], that's not going to democratically tenable in a lot of countries for 20+ years. Unfortunate situation. [0] In 1879, a man asked "How come all this new economic development and industrialized technology hasn't eliminated poverty and oppression?" That man was Henry George,…

I'm not sold on the Economist article. I do believe in home ownership. The idea that a person spends a lifetime in the same home and community is a good one. We're tribal creatures, and you want a tribe -- you want people to know their neighbors, have community BBQs, and live in real communities. You want enough of a vested interest in municipal politics that democratic structures work. You want kids growing up with…

> community BBQs, and live in real communities

The sad reality is that people want their own BBQ and not really mix with their neighbours. That’s what poor people have to put up with, so to speak.

Re: Dutch cities want to ban property investors in all neighborhoods

#204

Post by em500 »

rusteh1 wrote: post #165

I don't understand how this would work. How do people rent? Obviously many people can't or do not wish to own their house for any number of reasons. Who will own houses that are rented? I used to live in Amsterdam as an expat, and rented from a landlord who owned several homes in Amsterdam. Would she not be able to own and rent these homes under this scheme? The social housing system seemed to be abused when I was th…

> I could never understand why this wasn't means tested continually.

They've started some degree of means testing a few years ago: the maximum allowed rent increase on social/rent-controlled houses can now depend on income. This was controversial legislation for privacy reasons (it involves giving landlords information about tenant incomes every year).

Re: Dutch cities want to ban property investors in all neighborhoods

#205

Post by cutler »

bradleyjg wrote: post #119
turbinerneiter wrote: post #35

Earlier quoted context omitted.

The problem is that it gets harder and harder for normal people to own anything (build up wealth), while building wealth is the best retirement startegy there is. I myself, for example, live in a city where owning the place I live in is just barely getting in reach for me, although I am in the top 30% income bracket of my country. I therefore have to put my savings into the stock market, which is at an all time high.…

The problem is that it gets harder and harder for normal people to own anything ( build up wealth), while building wealth is the best retirement startegy there is. This is the problem in a nutshell! It’s impossible for houses to continue to be great “wealth building” vehicles and for them be affordable. Politicians have prioritized the former and that’s how we got where we are. If we want affordable housing for peopl…

Marx's analysis is as relevant today as ever. The expansion of capital seeking ever-increasing sources of surplus value has left most of us as nothing more than serfs subject to the whims of landlords.

Re: Dutch cities want to ban property investors in all neighborhoods

#206

Post by tjpnz »

lostlogin wrote: post #9
57844743385 wrote: post #6

The only way to make housing affordable is to end property investing.

New Zealand had a stock market crash in the ’80s which is frequently blamed for the aversion New Zealanders have to shares and the love of property investment. We have a truely terrible housing stock (cold, damp and poorly maintained) and in the largest city, Auckland, the average house price is 20x the average wage. People claim it’s untenable but the rise in values has been utterly relentless.

Nothing's going to put that cat back in the bag at this rate, short of a capital gains tax. But given 70% of our politicians are property investors themselves that won't ever be on the cards.

This whole sorry state of affairs makes me glad I left the country. That and how utterly abysmal IT salaries are.

Re: Dutch cities want to ban property investors in all neighborhoods

#207

Post by Lammy »

thepangolino wrote: post #111
nmca wrote: post #42

In the long term, the ethically right answer seems pretty clearly to me to be a land value tax [0]. But due to encouragement of home ownership [1], that's not going to democratically tenable in a lot of countries for 20+ years. Unfortunate situation. [0] In 1879, a man asked "How come all this new economic development and industrialized technology hasn't eliminated poverty and oppression?" That man was Henry George,…

Wouldn't a land value tax encourage urban sprawling ? Current ubran policies in the western world, coupled with the normalization of remote working already do this to some extent.

Sprawling to where? It’s an island

Re: Dutch cities want to ban property investors in all neighborhoods

#208

Post by refurb »

dogma1138 wrote: post #98
mytailorisrich wrote: post #40

Earlier quoted context omitted.

Vacant properties in London are a red herring. Last time I checked official number they accounted for 1% of the housing stock, bearing in mind that a number of properties are always being refurbished at any given time. In general it does not make sense to keep a property empty unless perhaps it is an extreme luxury one. South Kensington is one of the most expensive area of London and not representative at all. Whatev…

The median price for a property in London is £600K, the average is over £1M today. That means that normal people cannot afford to buy anything in London even with HTB which is a terrible policy the people who can afford to use it are already in the top percentiles. A £600K property as a first time buyer requires you to have about £100K to get on a property ladder. 10% deposit for a 90% LTV mortgage is £60K, stamp dut…

Why is it reasonable to assume that people earning an average wage should be able to afford a home in the most desirable city in the UK, and one of the most desirable cities in Europe if not the world?

I mean, nobody complains in the US if the average family can’t buy a home in Manhattan. That’s just unreasonable.

Re: Dutch cities want to ban property investors in all neighborhoods

#210

Post by belter »

timwaagh wrote: post #84

I'm very unhappy about this. It won't be possible to buy a reasonable retirement income anymore and all the profits of the property sector will flow toward those deep pocketed property firms who have the right political connections to get permits. I think the governments just want to work us till we either reach a much extended retirement age or die from depression (which you can be euthanized for here). I'll be figh…

If you are buying to rent in the Dutch market, and you are not part of the royal family, or a Black Rock fund you are making a big mistake. You are in a legal environment where you will not be able to evict a non paying tenant for several years. If there are children in the picture or a divorce you will have even more serious problems. The Belastingen will come after your earnings plus, you are likely to be victim of a legal environment biased to puritanical inspired laws, that try to hit back at anybody trying to get ahead of their neighbors in the same street. In other words, there are strong forces to make you get back to conformity, on what is a very homogeneous society. You will be taking on a huge amount of risk that normally only professional well funded investors are able to weather.
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