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Home ownership potential = multiple benefits

1 Comment 5th July 2010

The biggest threat to home ownership is high quantity investors. People must not be allowed to generate huge profits at the exclusion of those who need the commodity in question, in this case homes.

Increasing the level of stamp duty in a progressive manner according to the total value of all properties owned would help to resolve this. It would also encourage investors to stop 'investing' at a lower level than they otherwise would.

Additionally, what about charging landlords an additional landlord tax? Naturally this will be passed on to tenants, but it could be used to support single ownership buyers, so will make buying a home cheaper. And we all know that home ownership has multiple benefits, including better appreciation and responsibility of ones surroundings, so it could lead to lower crime and better social responsibility.

Why does this matter?

1. Home ownership will be more attractive than renting, leading to increased social responsibility and ambition.

2. Home ownership enables individuals to provide a sustainable home or an investment for their retirement (if they choose to retire).

3. Home ownership helps support the economy. It puts money back into the pockets of individuals which they can invest in their home (essentially via the economy), rather than minority landlords who pay less tax and save their money rather than spend it.

I could go on…


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One Response to Home ownership potential = multiple benefits

  1. Rick Seymour says:

    Indeed I agree that home ownership is a laudable thing.. but with the jump in cost of rental property from social rented to private rented to private ownership and the credit squeeze many people are putting money in the pockets of private landlords.

    How about a rental level for an area? In a similar way to local housing allowance the fair rent office sets the rental level for an area…..
    So people who have the “points” for social housing go for those. People that do not have the “points” move into private.

    How about setting the rental level based on the floor area of the property rather than the bedroom number in a similar way to business rates?

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