tag:blogger.com,1999:blog-1141932539860553199.post1907498492483002813..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Land bankingMark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1141932539860553199.post-67784749638246109062013-10-24T12:40:10.982+01:002013-10-24T12:40:10.982+01:00B, "so what" nothing.
The point is tha...B, "so what" nothing. <br /><br />The point is that the land bankers deny that they are land banking in public, while telling their investors that they are deliberately land banking in their accounts.<br /><br />Whether "land banking" is beneficial, harmful or irrelevant is a side issue, the point is that they are lying about this and hence probably lying about everything else as well.<br /><br />And land can never become a liability, even if its value falls to nil. Not until we introduce LVT at least.<br /><br />Kj, some of the accounts also mention options, but the figures are very vague so I ignored them.<br /><br />Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-57272297734039296442013-10-22T18:55:59.654+01:002013-10-22T18:55:59.654+01:00Hmm, I wonder also what constitutes land-banking. ...Hmm, I wonder also what constitutes land-banking. Is it outright ownership of land, or is it also options on future development?Kjhttps://www.blogger.com/profile/13530243002915410700noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-18708843062839853162013-10-22T12:13:47.658+01:002013-10-22T12:13:47.658+01:00"So yes, they are land banking"
So what..."So yes, they are land banking"<br /><br />So what? It's not as if them building extra houses is going to anything except get more people hopelessly into debt. There is no "housing crisis". Although yesterday I saw yet another columnist saying that building more houses will bring down prices to an affordable level, you, I and Merryn Somerset Webb know that this is not the case. Also what is difference between housebuilding companies and any other landlord owning farmland, which is essentially what is going on here? Even the land with PP is still farmland, right up to the point at which building starts. Incidentally, I wonder if Barratt's holding of "strategic" land include all the land they own (or used to own) around Mr Barratt's own house, for the opposite purpose of preventing anyone ever building on it?<br />Also I wonder how much of this "strategic" land will be offloaded when land prices start to fall and it becomes a liability.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.com