My feeling is that houses should be places for people to live and make their own, not investment vehicles, assets on a balance sheet or part of someone’s pension plan. I think as a society we’ve taken a wrong turn where house prices are now so closely linked with politics that successive governments have felt the need to manipulate prices upwards (help to buy pumping billions into the market on top of usual lending multiples, supply squeeze caused by decades of laissez-faire policies, NIMBY planning departments and no public sector building).
I think CGT should be charged on people who own more than one home. It should be a really unattractive investment so the properties return to the market for people to buy and make their home. Buy to let and the spiralling growth of the for-profit landlord has really ruined things for the next generation and that’s the enemy of progress if you ask me.
I don’t think compulsory purchase is fair unless it’s being landbanked or is derelict (I live near HS2 and think what they’ve done to communities is disgusting). If you own a farm then that’s your home and your livelihood and possibly your ancestors home & livelihood. You shouldn’t be forced to sell for anyone - if it’s such a great need the surely the price will be so high that you’d want to sell up.
There is no shortage of homes in the U.K. there’s a shortage of homes available to buy or live in for an affordable amount of money because of Buy to let.
Personally I have rented a new build in London for nearly 4 years and I overlook about 50-100 apartments which have been empty for 4 years, and when I walk to work I walk past homeless people every day. It does not make any sense,