Quote:
Originally Posted by Ignitionnet
There are far more 1 and 2 bed overcrowded properties than there are 4 bed. Absolute worst case the policy reduces overcrowding.
---------- Post added at 14:14 ---------- Previous post was at 14:12 ----------
This vexes a bit given we the tax payer are paying for health care and potentially pension for said people who want to get maximum value for their property, as clearly 3 times what it cost them in real terms might not be enough.
Eek intergenerational rage showing.
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You need to keep that intergenerational rage under control or you may be an early candidate for blood pressure medication
I see my house as a consumer durable with which as I own I can do with as I please. The fact that it could easily accommodate a family in addition to my wife and myself is no more meaningful to me as the fact that the two cars we own could seat 10 (collectively) but neither often carry more than one or two.
The last government interference in the housing market was when either Lament or Lawson ended multiple purchase mortgage tax relief (students, friends etc buying collectively) and gave 6 months notice. The housing market rocketed during those 6 months turned over and crashed. Governments are best kept out of anything involving free markets because they always cause more problems than they cure.
Within the multiple stratas of house prices the only thing that matters to an owner is differentials. People only look to move if needs are pressing and differentials beneficial. I have never given terribly much interest in the value of my house simply because it is a home and as I intend neither to liquidate or use it as collateral, the value is of little interest.
As for down sizing and the stupid ideas by that self appointed think tank. It would take somewhat more than a free ride on a purchase regarding Tax to even grab my attention. In a move that is small change in the final analysis.
I have said it before and will do so again. In a free market buyers bid up prices. As supply is always behind demand and will always be whilst the population explodes the shortage causes inflationary upward forces. The suggested internal movements within the market would skew the distribution downwards in strata and possibly have undesirable consequences at all price points.
There has already been a proxy for this demographic shift in Bath where my sister lives. Properties in London sold to rich foreigners have seen lots of people heading for Bath with a couple of million in their back pockets. House values exploded in Bath as the newly cash rich came to town and where London was silly so now is Bath. Cash rich oldies would also change price dynamics but as the amounts in question are minimal they would inspire nothing so it is a bit of a non story which isn't going to happen anyway.