Lots of good points here but none solve the housing crises for social housing which would mean we would not care if he had one or not.
The way to solve it is this ....
Not only allow councils to build, but if someone does RTB then the council is obligated to build 2 more properties of equal or greater size before the next RTB can be sold. And not before, thus forcing councils to actually do this or they will get voted out with a council who will.
Councils should also be allowed to make compulsory purchases on Business sites but only where land/offices that are only 50% let or less. This is how they get the land in those inner cities to build with. They get the money from emergency sink funds to be released (often they have loads of money in there they cannot access) but only for these new builds.
As there will be a lead time to build these new properties it won't crash the market when new builds start appearing. Over time prices will stabilise and thus people will be able to afford normal non-99% mortgages like we used to have. Thus helping even careful people avoid negative equity in bad times. Not all, but better than now.
In addition, as councils will be coming after those private land bankers office block hoarders, to ensure they get over that 50% and maintain it these hoarders will need to let to small business for at least 80% (cannot risk lower or they could get caught out). This gaming actually reduces the rent for Businesses everywhere as they covert anyone to lease it from them (there is a market you know) including the high street, which hopefully makes the high street viable again and reduces the chances of ghost town communities.
Therefore to house the homeless and keep out small businesses alive, you know a community, councils must be able too...
The way to solve it is this ....
Not only allow councils to build, but if someone does RTB then the council is obligated to build 2 more properties of equal or greater size before the next RTB can be sold. And not before, thus forcing councils to actually do this or they will get voted out with a council who will.
Councils should also be allowed to make compulsory purchases on Business sites but only where land/offices that are only 50% let or less. This is how they get the land in those inner cities to build with. They get the money from emergency sink funds to be released (often they have loads of money in there they cannot access) but only for these new builds.
As there will be a lead time to build these new properties it won't crash the market when new builds start appearing. Over time prices will stabilise and thus people will be able to afford normal non-99% mortgages like we used to have. Thus helping even careful people avoid negative equity in bad times. Not all, but better than now.
In addition, as councils will be coming after those private land bankers office block hoarders, to ensure they get over that 50% and maintain it these hoarders will need to let to small business for at least 80% (cannot risk lower or they could get caught out). This gaming actually reduces the rent for Businesses everywhere as they covert anyone to lease it from them (there is a market you know) including the high street, which hopefully makes the high street viable again and reduces the chances of ghost town communities.
Therefore to house the homeless and keep out small businesses alive, you know a community, councils must be able too...
- Be allowed to access emergency sink funds that are usually reserved for when Putin nukes us and its way too late anyway.
- Be allowed to purchase under-used private Business land/offices that is used less than 50% without some nimby losing their mind over it.
- Have this independently checked by approved regulators as either side could abuse it. Tough one this, but gotta start the movement somehow.
- Be allowed to build on it depending upon if they sell the RTB in a 1 for 2 ratio.
- Rinse and repeat.
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