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I think that the policies to discourage 'investment' in the property market and the higher interest rates are working. Especially as the tax breaks on investing in a pension are attractive. I agree with you that the £120k would simply inflate housing prices across the board.
What we desperately need are more properties for people to live in, prices would come down and it could create employment and skills which we need. There's no incentive when people can invest in property knowing that someone will have to rent it.
Of course most of the pension funds are interested in riding the AI wave of profits so we're more likely to end up in ghettos wearing VR headsets matrix style.
Airhead
aggi
If we gave everyone £120k it would be spent on housing, tie ing more of our national wealth up in an unproductive area.
We need to start taxing “profits” made from housing at a rate that encourages “investors” to put their money into areas that will increase national productivity not one that cripples the young.
Any increase in property value over the interest rate (with an allowance for maintenance and refurbishment) should be taxed. At a modest rate if it’s your main residence and at a punitive rate if it’s not.
“Investing” in property should not be seen as a good thing, investing in people and businesses should.
This is the true failure of Thatcherism.
IHT is a red herring