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Faiza Shaheen: Restrict UK housing sales to UK taxpayers

Faiza Shaheen: Restrict UK housing sales to UK taxpayers

(1:38) UK housing sales should be restricted to UK taxpayers argues Faiza Shaheen, Director of the Centre for Labour and Social Studies.

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COncernedCitizen COncernedCitizen (130 days ago)

If your mother bought a house because she was a tax payer and then died, your house could be given back to the government if you paid no taxes because you were disabled and she (and the state) was taking care of you. That seems fair.

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If your mother bought a house because she was a tax payer and then died, your house could be given back to the government if you paid no taxes because you were disabled and she (and the state) was taking care of you. That seems fair.

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TheBob TheBob (130 days ago)

No idea what you're trying to say.

If you inherit a house/asset from your mother then you should use the equity in it to pay for your care? Yes.

There's no question of "your house being given back to the government" because it never belonged to the government inthe first place.

Anyway, this video is about stopping "landbanking" where non-residents buy up the housing stock, inflate property prices (and rents) and also contribute to the housing shortage (by leaving the property empty) .

It makes sense that property should only be owned by people who want to live here.

Original comment

No idea what you're trying to say.

If you inherit a house/asset from your mother then you should use the equity in it to pay for your care? Yes.

There's no question of "your house being given back to the government" because it never belonged to the government inthe first place.

Anyway, this video is about stopping "landbanking" where non-residents buy up the housing stock, inflate property prices (and rents) and also contribute to the housing shortage (by leaving the property empty) .

It makes sense that property should only be owned by people who want to live here.

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COncernedCitizen COncernedCitizen (130 days ago)

My comment was too difficult for you huh? I think it's a bit odd to put a restriction on home ownership to just tax payers. If that's the case, it should pertain to inheritance too because it's very possible that you could die and your heirs do not pay taxes because they are either low income or live in a different country; however, I personally feel that shouldn't stop you from acquiring your rightfully inherited property. You are opening it up to allowing only the rich citizens to own property. If you cannot inherit property when someone dies, then who will get to own that property?

If the government never owned the house then why should they have any control over who I sell my house to? If some Chinese investor is willing to pay me 2x market value for my home, I should have the ability to take that money and run.

Leaving property vacant doesn't earn landlords any money so I'm not sure why you think that is a good strategy.

A lot of money can be made in property. If you think it's such a lucrative investment, you can buy as much as you want, rent it out or keep it vacant and see how much money you can earn. Trump got rich in the real estate business and you can too. You can buy property all over the world.

Original comment

My comment was too difficult for you huh? I think it's a bit odd to put a restriction on home ownership to just tax payers. If that's the case, it should pertain to inheritance too because it's very possible that you could die and your heirs do not pay taxes because they are either low income or live in a different country; however, I personally feel that shouldn't stop you from acquiring your rightfully inherited property. You are opening it up to allowing only the rich citizens to own property. If you cannot inherit property when someone dies, then who will get to own that property?

If the government never owned the house then why should they have any control over who I sell my house to? If some Chinese investor is willing to pay me 2x market value for my home, I should have the ability to take that money and run.

Leaving property vacant doesn't earn landlords any money so I'm not sure why you think that is a good strategy.

A lot of money can be made in property. If you think it's such a lucrative investment, you can buy as much as you want, rent it out or keep it vacant and see how much money you can earn. Trump got rich in the real estate business and you can too. You can buy property all over the world.

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TheBob TheBob (129 days ago)

One of the problems we have with property/housing in London at the moment is that it is so expensive, both to own and rent. This problem will increase for London because teachers, nurses, bus drivers and a whole range of people who are not very wealthy cannot afford to live here. If teachers can't afford to live here, who is going to educate the kids?

A major reason it is so expensive is that Chinese, Russian, Arab (and other wealthy foreigners) buy up properties because it's a nice, safe way for them to have money outside their countries: "landbanking".

They pay over the odds and push up prices in the centre of London. People who would have bought in the centre now get pushed out and they buy in the next zone out - pushing up those prices ... and so prices go up further and further into the suburbs.

They also tend to leave them empty, further contributing to the housing shortage.

So these people are generating problems and contributing nothing to the revenue.

So it seems reasonable that if you want to own property in the UK you should contribute to the country - either by being resident (and paying tax on your income) or by paying tax on your property.

Anyway, Trump didn't get rich from the real estate business, he got rich because he inherited it. Let's face it, he couldn't even make money out of a casino!

Original comment

One of the problems we have with property/housing in London at the moment is that it is so expensive, both to own and rent. This problem will increase for London because teachers, nurses, bus drivers and a whole range of people who are not very wealthy cannot afford to live here. If teachers can't afford to live here, who is going to educate the kids?

A major reason it is so expensive is that Chinese, Russian, Arab (and other wealthy foreigners) buy up properties because it's a nice, safe way for them to have money outside their countries: "landbanking".

They pay over the odds and push up prices in the centre of London. People who would have bought in the centre now get pushed out and they buy in the next zone out - pushing up those prices ... and so prices go up further and further into the suburbs.

They also tend to leave them empty, further contributing to the housing shortage.

So these people are generating problems and contributing nothing to the revenue.

So it seems reasonable that if you want to own property in the UK you should contribute to the country - either by being resident (and paying tax on your income) or by paying tax on your property.

Anyway, Trump didn't get rich from the real estate business, he got rich because he inherited it. Let's face it, he couldn't even make money out of a casino!

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COncernedCitizen COncernedCitizen (129 days ago)

Using the boreme crowd's philosophy, you should pay everyone a living wage. The companies are obviously not paying enough to allow a single mother of 5 to own a house and put all her kids through the most expensive universities. Such a shame your government doesn't step in and force increase the wages of those teaching jobs in london.

You are already aware that the prices are going up in London. Don't you think that is a good time to buy then? Why don't you go out and buy those properties instead of letting the Chinese buy them instead? Sounds like a good investment opportunity for you.

"or by paying tax on your property." I imagine any Chinese buyer that purchases property will have to pay tax on that property just like a UK citizen. So what's the problem again?

Trump did not inherit his wealth. According to Trump, "I started off with $1 million. I built a company that's worth more than $10 billion. And I say it not in a bragging way, but that's the kind of thinking we need." But even if you did believe he's lying and did inherit his Father's wealth, that was estimated to be only between $100 million and $300 million. Trump is worth billions which is several magnitutes greater.

Original comment

Using the boreme crowd's philosophy, you should pay everyone a living wage. The companies are obviously not paying enough to allow a single mother of 5 to own a house and put all her kids through the most expensive universities. Such a shame your government doesn't step in and force increase the wages of those teaching jobs in london.

You are already aware that the prices are going up in London. Don't you think that is a good time to buy then? Why don't you go out and buy those properties instead of letting the Chinese buy them instead? Sounds like a good investment opportunity for you.

"or by paying tax on your property." I imagine any Chinese buyer that purchases property will have to pay tax on that property just like a UK citizen. So what's the problem again?

Trump did not inherit his wealth. According to Trump, "I started off with $1 million. I built a company that's worth more than $10 billion. And I say it not in a bragging way, but that's the kind of thinking we need." But even if you did believe he's lying and did inherit his Father's wealth, that was estimated to be only between $100 million and $300 million. Trump is worth billions which is several magnitutes greater.

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TheBob TheBob (129 days ago)

We don't all have the same pholsophy - after all, you're part of the boreme crowd as well.

And using your philosophy: as long as someone makes money out of it, we should keep building more and more houses to leave empty until urban sprawl reaches the coastline and houses start falling into the sea. And then we should build them under water.

And please don't quote Trump as a credible source (particularly about himself). He was the one who invented a terrorist attack in Sweden (presumably al-Ikea-da), couldn't remember which country he'd bombed and has websites devoted to keeping track of his "alternative facts"

Original comment

We don't all have the same pholsophy - after all, you're part of the boreme crowd as well.

And using your philosophy: as long as someone makes money out of it, we should keep building more and more houses to leave empty until urban sprawl reaches the coastline and houses start falling into the sea. And then we should build them under water.

And please don't quote Trump as a credible source (particularly about himself). He was the one who invented a terrorist attack in Sweden (presumably al-Ikea-da), couldn't remember which country he'd bombed and has websites devoted to keeping track of his "alternative facts"

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COncernedCitizen COncernedCitizen (129 days ago)

I'm part of the boreme crowd but I'm unique compared to the rest of you.

If you can make money by building houses, you should do it. Doesn't matter if they stay empty or not. If there's a demand for it, then you should supply it. If you start running out of land, you can do what Dubai does and create islands to create the new houses on. You can also build higher like the skyscrapers of New York and other major US cities.

If I could build a house for $150,000 and sell it for $200,000 to an investor, I'd do that all day long. I don't care what that investor does with it after the sale is completed. He can burn it down to the ground for all I care. I already made my $50,000 profit.

If the property values are going up like you think they are, then it should be easy to get a business loan and buy a couple million dollars worth of properties and hold them to make money. You would get rich. Instead of complaining about others getting rich, why don't you do what they do and get rich too?

Original comment

I'm part of the boreme crowd but I'm unique compared to the rest of you.

If you can make money by building houses, you should do it. Doesn't matter if they stay empty or not. If there's a demand for it, then you should supply it. If you start running out of land, you can do what Dubai does and create islands to create the new houses on. You can also build higher like the skyscrapers of New York and other major US cities.

If I could build a house for $150,000 and sell it for $200,000 to an investor, I'd do that all day long. I don't care what that investor does with it after the sale is completed. He can burn it down to the ground for all I care. I already made my $50,000 profit.

If the property values are going up like you think they are, then it should be easy to get a business loan and buy a couple million dollars worth of properties and hold them to make money. You would get rich. Instead of complaining about others getting rich, why don't you do what they do and get rich too?

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Guest: (129 days ago)

COncernedCitizen thinks he's unique compared to the boreme community. That made me properly laugh out loud. If ever there was a buttoned-up conformist clone it's him. I mean heck, he can't even imagine that money might not be the be all and end all. A born consumer.

Original comment

COncernedCitizen thinks he's unique compared to the boreme community. That made me properly laugh out loud. If ever there was a buttoned-up conformist clone it's him. I mean heck, he can't even imagine that money might not be the be all and end all. A born consumer.

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TheBob TheBob (129 days ago)

Where did I complain about people getting rich?

We have a housing shortage in the UK - so I would complain about policies that tend to make that problem worse rather than better.

And we're all unique compared to each other - someone thinks they're a cat, after all (though they've been a bit quiet recently. Probably too much Sheba)

Anyway, I'm closing down now and off to the pub.

Have a good weekend

Original comment

Where did I complain about people getting rich?

We have a housing shortage in the UK - so I would complain about policies that tend to make that problem worse rather than better.

And we're all unique compared to each other - someone thinks they're a cat, after all (though they've been a bit quiet recently. Probably too much Sheba)

Anyway, I'm closing down now and off to the pub.

Have a good weekend

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COncernedCitizen COncernedCitizen (129 days ago)

"We have a housing shortage in the UK - so I would complain about policies that tend to make that problem worse rather than better." The solution isn't to restrict who can purchase housing, it is to create more housing. That can make the developer money as well as put people to work. Adding more supply will make the housing costs lower. People might even get angry when they see their housing prices drop after paying a premium for it years ago.

Original comment

"We have a housing shortage in the UK - so I would complain about policies that tend to make that problem worse rather than better." The solution isn't to restrict who can purchase housing, it is to create more housing. That can make the developer money as well as put people to work. Adding more supply will make the housing costs lower. People might even get angry when they see their housing prices drop after paying a premium for it years ago.

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WalterEgo WalterEgo (129 days ago)

You're not unique. Cengland0 was unique. He opened up (or brilliantly fabricated) the life of a Floridian banker who, despite money coming out of his ears, leads a miserable life of luxury. The level of personal detail he offered gave a fascinating insight into the mind of a banker living on the fringe of the 1%. Unfortunately, BoreMe trolls drove him away.

Original comment

You're not unique. Cengland0 was unique. He opened up (or brilliantly fabricated) the life of a Floridian banker who, despite money coming out of his ears, leads a miserable life of luxury. The level of personal detail he offered gave a fascinating insight into the mind of a banker living on the fringe of the 1%. Unfortunately, BoreMe trolls drove him away.

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COncernedCitizen COncernedCitizen (129 days ago)

It appears my views are unique when you compare it to everyone else's on this site.

Too bad you chased another user away. I'd like to hear from someone in the 1% and why luxury would be a miserable life. I would love to have a life of luxury and thought that's what everyone stived for.

Original comment

It appears my views are unique when you compare it to everyone else's on this site.

Too bad you chased another user away. I'd like to hear from someone in the 1% and why luxury would be a miserable life. I would love to have a life of luxury and thought that's what everyone stived for.

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Guest: (129 days ago)

Most people 'stive' for happiness. Only materialistic consumers like you stive for financial luxury. Obviously there's a lot of other people like you who have been sucked into conformity, but that's why you're the least unique person on BoreMe. By a long way.

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Most people 'stive' for happiness. Only materialistic consumers like you stive for financial luxury. Obviously there's a lot of other people like you who have been sucked into conformity, but that's why you're the least unique person on BoreMe. By a long way.

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COncernedCitizen COncernedCitizen (129 days ago)

Good, that being the case, I should get more upvotes and fewer people arguing with me.

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Good, that being the case, I should get more upvotes and fewer people arguing with me.

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Guest: (129 days ago)
Latest comment:

Errr.. you think not getting upvotes and people arguing with you mean you're unique? That's funny.

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Latest comment:

Errr.. you think not getting upvotes and people arguing with you mean you're unique? That's funny.

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Guest: (129 days ago)

Triggered much?

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Triggered much?

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