The only way to make housing affordable is to end property investing.
What defines property investing?
Why not a land value tax instead?
Dutch cities want to ban property investors in all neighborhoods
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Re: Dutch cities want to ban property investors in all neighborhoods
#12This is the only right way to deal with greed. Enough is enough.
Greed is innate to humans and you can't even take it away with communism, people will still find a way to collect and hoard.
The problem is the low interest rates from central banks flooding the economy with money.
Re: Dutch cities want to ban property investors in all neighborhoods
#13So investors buy the homes then rent them out? What’s the problem?
In some asian markets investors buy homes then sit on them unused for years. That’s a problem.
Re: Dutch cities want to ban property investors in all neighborhoods
#14There are more efficient ways to achieve the same and get a bunch of other positive side effects in one go: Land Value Taxation. Henry George proposed it already in 1879 in his book "Progress and Poverty".
Re: Dutch cities want to ban property investors in all neighborhoods
#15why not banning foreign buyers first. then corporations. homes should be for the people. it should be cheaper to acquire a home u live in than an home u buy to speculate/rent. And the difference should be way higher than a few % tax more
Won't this result in higher rent prices for those that don't have the funds or interest in purchasing property?
Re: Dutch cities want to ban property investors in all neighborhoods
#16Do I understand correctly that they want to kick out all the students from the cities? When I was studying in Groningen I had to look for places to rent out of the city. Some students were camping in tents in front of the campus. Here is a photo from another city, Tilburg: https://www.dutchnews.nl/wpcms/wp-content/uploads/2019/09/st... Some academic staff were even taking them in due to shortage of places to rent. I…
> Do I understand correctly that they want to kick out all the students from the cities?
Presumably not, unless those students are property investors.
Re: Dutch cities want to ban property investors in all neighborhoods
#17Interested how this plays out in other countries in terms of both reception and actual effect. The current Korean gov set out to reduce house prices by various methods: e.g. high property taxes on houses that are not the owners primary residence, banning loans/mortage for flipping homes, etc. But prices have gone up more during this regulation. People suspect its actually driving buyers to buy before more regulations in the future.
I feel like the only way would be to restrict to one house per co-residence family unit in contested cities. But I have no knowledge of real estate/economics, and I'm sure it'll be called communism. So really feels like a near impossible problem to solve.
Re: Dutch cities want to ban property investors in all neighborhoods
#18Better late than never. The housing market in the Netherlands is currently terrible. I’ve “fled” the country for the next few years. Hoping that would be enough time for the market to get healthy again. It’s just insane that we made it this easy for people who were well off to begin with to profit. Just sold a house, the profit I got from buying and selling that house alone makes me nauseous. Makes me wonder why I work at all. Can imagine corporate investors are milking it for all its worth.
Re: Dutch cities want to ban property investors in all neighborhoods
#19This is cart before horse stuff. As noticed by other commenters some people need to rent. I am blaming 'quantitative easing'. If the central bank buys a whole lot of assets where do other investors go?
Re: Dutch cities want to ban property investors in all neighborhoods
#20why not banning foreign buyers first. then corporations. homes should be for the people. it should be cheaper to acquire a home u live in than an home u buy to speculate/rent. And the difference should be way higher than a few % tax more
It seems there intent is to reduce the number of people who buy property just for investments, and then potentially sit on empty property waiting for opportunities. Banning foreign buyers would just do that, banning foreign buyers, which does not seem to be their intent. Even Dutch people buy property and just sit on it, like what happens in other countries as well. Not sure how focusing on if someone is Dutch or not…
I'd like to see data on who can afford to sit on an empty property. I've heard of Chinese money trying to avoid Chinese government crackdowns or really rich families who refuse to sell empty houses, I don't see how the average investor could afford it.