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Originally Posted by Ignitionnet
No, I want the government to stop meddling in the housing market with their ridiculous schemes, liberalise it, and tax it properly.
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What you've described exactly proves my point - the money goes in a circle, it's not being distributed to the wider economy.
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But it is being distributed to the wider economy- architects, surveyors, builders, scaffolders, glazing manufacturers, lift engineers, roofers....the list goes on.
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I want a low tax economy where possible, where people aren't spending huge swathes of the income on rents and mortgages
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Stop some of the unfettered immigration and build more houses
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If it were as simple as you suggest Singapore and Hong Kong must've been committing economic suicide when they tried to dampen foreign demand for their property.
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Perhaps they did. Govt meddling often does