tag:blogger.com,1999:blog-1141932539860553199.post6985701901955704783..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Public and private sector residential constructionMark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-1141932539860553199.post-47033675659612221802014-08-19T20:36:26.406+01:002014-08-19T20:36:26.406+01:00@ A K Haart
All landowners are members of the &qu...@ A K Haart<br /><br />All landowners are members of the "cartel". Perhaps renters should take out a class action?<br /><br />@ MW<br /><br />Would a gathering of NIMBIES be a cumulus?benjhttps://www.blogger.com/profile/11544297406005346095noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-69705996275835903672014-08-19T16:55:12.787+01:002014-08-19T16:55:12.787+01:00The most interesting post I've read in ages. W...The most interesting post I've read in ages. Would such a cartel come anywhere near to being illegal?A K Haarthttps://www.blogger.com/profile/05897490979828603179noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-2673869690660621742014-08-19T14:14:13.662+01:002014-08-19T14:14:13.662+01:00DBC, tax on land banks is the easy target (and in ...DBC, tax on land banks is the easy target (and in any event far preferable to s106 agreements etc), but let's go for the hard targets :-)Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-32100489590809155722014-08-19T14:11:38.066+01:002014-08-19T14:11:38.066+01:00DBCR The Libdems do seem to understand LVT, excep...DBCR The Libdems do seem to understand LVT, except they see it as an <i>extra</i> tax. That rather lets them down AFAIAC.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-91014844229521688752014-08-19T14:10:21.601+01:002014-08-19T14:10:21.601+01:00MW
Yup. That was where I was heading. Ta.MW<br />Yup. That was where I was heading. Ta.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-52168112401328109812014-08-19T12:03:00.606+01:002014-08-19T12:03:00.606+01:00L, you were perfectly clear.
"I agree that l...L, you were perfectly clear.<br /><br /><i>"I agree that land banking has nothing to do with the collapse in council house building. Logically it should not."</i><br /><br />Agreed.<br /><br /><i>"I was trying to work out whether LVT would capture the economic rent enjoyed by land bankers. I think it would."</i><br /><br />Yes of course, but it would not affect actual real construction one little bit, builders will just knock off a year or two's LVT from their ultimate selling price when deciding how much to bid for building land. <br /><br /><i>"why are land prices (aka house prices) rising? It can't be to do with supply."</i><br /><br />It's not. It's because we aren't comparing like with like.<br /><br />House prices used to be three times income because prices were depressed by rent and mortgage caps (and a little bit of Schedule A tax or Domestic Rates).<br /><br />The old tax and regulation system has been abandoned and interest rates appear to be permanently low, so house prices have adjusted up to a 'new normal' of six times income.<br /><br />I suspect that they will stay that high for the foreseeable future.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-80478830907955388892014-08-19T12:02:33.449+01:002014-08-19T12:02:33.449+01:00@L
Strangely enough a tax on land banks was propos...@L<br />Strangely enough a tax on land banks was proposed by Chris Huhne about time he went into Coalition Cabinet.DBC Reedhttps://www.blogger.com/profile/17891849727783879145noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-42818426436236985362014-08-19T11:38:00.312+01:002014-08-19T11:38:00.312+01:00MW. I think I mis-explained myself.
I agree that...MW. I think I mis-explained myself.<br /><br />I agree that land banking has nothing to do with the collapse in council house building. Logically it should not.<br /><br />I was trying to work out whether LVT would capture the economic rent enjoyed by land bankers. I think it would.<br /><br />Also. So if 167K units is enough to cater for population growth, why are land prices (aka house prices) rising? It can't be to do with supply.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-57304642858008213742014-08-18T23:03:56.257+01:002014-08-18T23:03:56.257+01:00L, no, the number of plots used by the land banker...L, no, the number of plots used by the land bankers probably has nothing to do with 'not building council houses'.<br /><br />In any event, 167,000 units a year is just about enough to cater for long term average population growth (if the new homes weren't just so small and pokey).Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-37009158645177170822014-08-18T21:37:18.298+01:002014-08-18T21:37:18.298+01:00Now, that is the best and most succinct analysis o...Now, that is the best and most succinct analysis of the house supply issue that I have seen. Well done.<br /><br />'Of course' LVT (or even a 'land bank tax') could go a long way to sort this out by making it not economically viable to hoard land. The thing is, I am not convinced this is just - or in its first principles - a 'not building council houses' problem. It remains a tax / rent seeking problem.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.com