Property News · February 28, 2017

Why have all attempts to fix Britain’s housing crisis failed? Look to the land | Toby Lloyd


The housing white paper is the latest in a long line of policies and initiatives that have failed to address, or even understand, the role of land in the economyThe title of the recent housing white paper suggested a new urgency to government policy. It’s not hard to see why that’s needed. Homelessness is rising fast and a whole generation finds itself priced out, yet unable to get one of a dwindling number of social homes. The sudden return to a world where working families must rent privately at eye-watering rents is crippling finances, productivity and economic growth alike. Levels of home ownership have been falling sharply since 2003, to only 51% of households today. The dream of a property-owning democracy, that cornerstone of conservative ideology, is almost dead. No wonder the government is anxious.But the white paper is only the latest in a long line of policies, strategies and initiatives that promise to solve the housing shortage. All before have failed, for the same fundamental reason. For decades now we have been unable to address, or even understand, the role of land in the economy. Continue reading…

Source : theguardian.com
Read more…Why have all attempts to fix Britain’s housing crisis failed? Look to the land | Toby Lloyd

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