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That would make the housing shortage worse.
UK/USA/Canada all have issues with large funds buying up housing stock and converting it to rentals. These funds can outbid any private buyer. They have a serious influence on the market, both raising pricing and reducing available supply of affordable housing.
Houses staying in the family is better IMO.
davidual-
Do these funds knock the houses down after they buy them? I don’t buy the shortage argument.
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I disagree. A society with plentiful affordable housing available for rent or purchase with strict rent control and huge penalties for rogue landlords is the key. No more mortgages for second homes.. No section 22.
The UK is obsessed with property ownership, in part because landlords are cunts who get to charge what they want.
There are plenty of countries in Europe that give tenants long term rights and rent protections. Surely all anybody wants is the right to a home that they can afford amd is theirs for as long as they want it?
NickCJ
Stonehedge
I was just thinking that. If there was a way for every estate to pay 20% without exception, that would be a lot better than the current situation.
Need to sell the home you inherited to pay the 20%? Tough fucking shit. Maybe exceptions for bereaved spouses.