221–230 of 1001 posts
The only solution, of course, is to build more houses! Build until prices fall! (And don't bail out people who are now underwater because prices fell.)
The UK made renting property a lot less lucrative a few years ago. Something about the tax position of letting mortgaged property. That meant landlords sold their houses - which I believe was broadly the point - and thus there are fewer places to rent and the cost of renting has increased to the new point of stability. I think this probably has decreased house prices to some extent, but people are really insanely rel…
Something about the tax position of letting mortgaged property. EDIT: I had misremembered. Landlords can still get a tax deduction for mortgage interest, but only at the 20% rate, not at their marginal tax rate. For most landlords with mortgages, this probably halves the tax credit. In the UK, if a private landlord receives £1000 in rent, and pays £800 in mortgage interest, they pay tax on the whole £1000, not just o…
Earlier quoted context omitted.
Property tax shouldn’t be going up with this tbh. If everyone’s housing and land is becoming more expensive, then you need to tax smaller %s to get the same budget. To me this sounds like your city/state is just ballooning their budgets.
You don't need the same budget. You have to pay employees more to keep up with the rising cost of housing and land (or they all quit), so the budget has to go up too.
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Sorry what? Shelter is a necessity for survival. Is it communism to not allow people to buy up all the water supplies and sell it back to you at an extortionate rate? The truth about the housing market is that it's not a free market anyway it's controlled by special interests, bad laws, zoning, local nimbys and councils the list goes on.
Stop subsidizing demand at the national level. Stop restricting supply at the local level.
Land is cheap but building a house is expensive. If you want more supply then you are going to need to make building more economical.
Stop subsidizing demand at the national level. Stop restricting supply at the local level.
That's not the problem at all. Stop allowing people to buy multiple homes. Stop allowing landlords to "collaborate" on prices.
https://homelessness.ucsf.edu/blog/vacancies-are-red-herring
In my opinion, there can only be one solution to this that will come sooner or later. A great correction following simplified zoning & building legislation. Federal governments across the west need to take control of building and zoning. Planning can remain a city/state/provincial affair, but it must be done under standardized and simplified building and zoning legislation. We are wasting unfathomable economic potent…
It has been extremely effective. Of course you can never determine the actual effect of a policy like this in such a noisy environment, but everyone agrees it has contributed towards increased supply and falling prices, especially in Auckland. In the city I live in townhouses were almost unheard of, and now they're popping up everywhere.
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tbh I am so angry about this I dont even know with whom to be angry with in the first place. we just "got" here and everyone is just waving hands, especially politicians, that promise to fix housing crisis since 2000 and nothing happens, it just gets worse. I think some heads need to fly, french revolution style and that needs to be this violent in order for elites to be afraid again, idk what else can help.
Be angry at the currently retiring generation. This was consciously and deliberately engineered for their benefit. They even had the wisdom to carve out property tax exemptions for themselves. Perhaps they did not bother to consider what the long term consequences would be, but that is to be expected. The politicians merely did their bidding.
Stop subsidizing demand at the national level. Stop restricting supply at the local level.
Land is cheap but building a house is expensive. If you want more supply then you are going to need to make building more economical.
Land can be very expensive. Especially when it has infrastructure built out to it already.