Foreign Buyers banned from buying homes...

Discussion in 'Politics & The Economy' started by domtheone, Oct 25, 2017.

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  1. domtheone

    domtheone
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    New Zealand bans foreign home buyers

    Seemingly it's happening in NZ.

    Overall, a good thing. Though, perhaps just a massive tax on foreign buyers could have been a stepping stone prior to a ban.

    Will it ever happen here....

    Way too late of course (for London anyway) to help the average Joe.
     
  2. Rasczak

    Rasczak
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    No. Foreign investment is good and we should encourage it. House prices are high because too many people expect to own, rather than rent, their homes.
     
  3. sebbykin

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    Doesn't renting just make the rich richer though ?
     
  4. krish

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    Including buy-to-leave?

    As I posted @ Staggering Statistic for London ...

    Nonsense.

    20,000 empty properties, collectively worth £9.4 billion, in London alone
    - from the DCLG's (Dept for Communities & Local Government) figures published in April:
    Dwelling stock estimates in England: 2016 - GOV.UK

    image.jpg
    As I also posted @ Grenfell Tower Culpability Thread. ...

    George Osborne also tried to clamp down on Kensington and Chelsea's out of control buy-to-leave phenomenon, mostly involving properties purchased by companies owned by Russian oligarchs and Arab Princes, and deliberately left empty.
     
  5. Greg Hook

    Greg Hook
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    Agree with Krish here. The empty homes especially in London are at crazy levels.
    Complete new developments often only have a handful of people actually living there with the rest still empty.

    Foreign investment is good, but buy to leave is not.
     
  6. Pacifico

    Pacifico
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    your own link tells you that the number is falling rapidly, and that only 50% are suitable for rent immediately.

    You did read your own link didnt you?
     
  7. domtheone

    domtheone
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    Can hardly blame them when prices just keep going up and up.

    Foreign investment is good, to an extent. And we'd be snookered without some of it, given how bankrupt we are. With an enormous issue as housing though. Exceptions should be made.
     
  8. Enki

    Enki
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    I feel sorry for brass plaque engravers in those British overseas territories, what would they do if buy to leave empty was stopped?
     
    Last edited: Oct 25, 2017
  9. IronGiant

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    "Come again? " :D
     
  10. SteakAndCake

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    Which was driven by the Tories in the 80s who bribed the previous Labour voting working class with public assets (council houses).

    Don't blame the people for embracing something that was pushed by their government as base policy for a decade and was basically free money. It was bad policy that's come home to bite us all on the ass.
     
  11. EarthRod

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    I think the NZ government has over-reacted, responding to public pressure.

    IMO they should introduce a law where foreign buyers can only purchase a home if they pay to build it - in other words to purchase the land and pay to use local labour to build the house from scratch.
     
  12. domtheone

    domtheone
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    Could have done that here too:smashin:
     
  13. EarthRod

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    Some governments/senior politicians are not able/allowed to think outside the box.
     
  14. Ruperts slippers

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    The policy was more to do with tackling the issues with crime ridden estates, homeownership has social costs and benefits to neighbourhoods such as, encouraging stability within families, good citizenship, being responsible for taking care of not only the home but the surrounding area, etc, etc.

    Nothing wrong with policy but legislative changes after the financial crash have changed the criteria for lending, whether these changes had any merit who knows. They have certainly had a negative effect on the housing market.
     
  15. Cliff

    Cliff
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    So Kensington and Chelsea have the most unoccupied homes. But realistically we can't say that the man sleeping rough could easily move into one of those houses, because to buy/ lease or rent would be way out of his price range.

    I agree there should be low cost housing, but that does bring problems as well. For councils to look after the properties, which are often not looked after by the tenants, is very costly. We have seen the cladding scandal exposed, and at some locations councils are paying for a fire engine to be on 24 hr standby. Generally councils are pretty poor at managing and getting value for money.

    Well that's a nice spin on it.
    To actually own your own home and be responsible for it, changes social attitudes. You would not see what we call 'sink estates' any more.
    The policy was all about enabling tenants, to actually step up the social and economic ladder and feel proud of their own home. The homes became well looked after. Councils did not have to spent our rates/ council tax on upkeep. Dare I say, crime was lowered?

    Of course there were financial abuses - but there were also abuses of the council house system. High earners befitting from subsidised accommodation.

    And the bottom line is that those homes did not vanish, they are still there. The numbers are the same.
     
  16. Pacifico

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    Well that would only be true if you believed that Council houses were just the last resort for people with no other choices. Originally they were not designed for that and it was only the 1977 Homelessness Act that really turned Council Housing into the housing of those that couldnt do any better.

    Perhaps we should think about returning to original principles?
     
  17. EarthRod

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    That would be working class, low paid married couples with or without children who work for the local council and other government run or financed organisations (gas, electric, rail, telephones etc).

    Not forgetting of course, back in those days, most large companies provided their own housing for working people.

    Very unlikely that scenario would return because back in those days the British Empire provided the means to make the UK very rich in assets, industry and employment. Those days have long gone.
     
  18. tapzilla2k

    tapzilla2k
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    Not unless certain Foreign buyers find an easier place to launder money through. If they do, watch the bottom fall out of the housing market in London.
     
  19. Cliff

    Cliff
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    Apparently, if you are an ISIS terrorist you can get a council house! Do we seriously think they will be de-Jihadified
    Only in Britain:mad:

    Terror suspects including jihadis returning from fighting in Syria are to be offered taxpayer-funded homes, counselling and help finding jobs to stop them carrying out attacks in Britain.

    The top-secret Government strategy, codenamed Operation Constrain, could even allow fanatics to jump to the top of council house waiting lists.

    Official documents seen by The Mail on Sunday reveal that up to 20,000 extremists previously investigated by MI5 will be targeted with what critics last night described as ‘bribes’ aimed at turning them away from extremism.



    Council house 'bribes' for UK terror suspects | Daily Mail Online
     
  20. krish

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    don't they have enough empty safehouses for them in RBKC
     
  21. Bl4ckGryph0n

    Bl4ckGryph0n
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    Just imagine, the whole house is wired up, cameras and microphones everywhere. Bluetooth and WiFi scanners. Great for information gathering.
     
  22. EarthRod

    EarthRod
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    Good idea if the info obtained is reliable. The occupants might be well aware the house is wired up and passing on false information together with little snippets of true information to give it credibility.
     
  23. Bl4ckGryph0n

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    I’ve got faith that The varies agencies know how to deal with that ;)
     
  24. tausifs

    tausifs
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    I seem to recall a recent leak that the government are evaluating the feasibility of bringing such a ban in here. Would this be the domain of the chancellor? Ie Philip Hammond ?
     

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