The right to buy the property you rent, with government assistance
“Redistribute onwership of housing stock by assisting private tennants to buy thier rental accomodation.”
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2. How does it fit with Compass’ core beliefs of equality, solidarity, democracy, freedom, sustainability and well being?
Currently the vast amount of this countries’ built assets are in the hands of a few. Redistribute this wealth by creating the legal right for private tennants to buy thier rent accomodation. This is simply another mechanism by which the goverment could channel money to the alilying banks. Whilst at the same time redistributing the built assests of the country.
3. How does it build the institutions of social democracy, like social groups and collective and cooperative forms of ownership and control?
Tennants currently unable to purchase thier rental properties because of an insufficient desposit or because the current onwer does not wish to sell would be given the legal right and the cash.
4. How much will it cost or raise and where will any cost come from?
The money currently being pumped into the banking industry could be put to some use on it’s way there. It would generate spending in the economy which would benefit everyone.
5. Which groups in the electorate are likely to support or oppose this measure? Is there any polling evidence you have on this?
Landlords would fight any law that would insist that they have to sell a property. In fact legally it is probably a grey area.
6. Is there a place or country where it’s worked? Please provide some information.
No
7. What are the three main arguments in favour/against it?
The goverment is currently giving money directly to the banks with no easily percieveable benefits to the citzens. Some of this money should go into a deposits for first time buyers fund. Through this fund renters could withdraw money to cover the deposit needed to purchase the property they rent. The money ends up in the banks pockets but on its way there it has helped to redistribute the built assests of this country. Generating spending in the economy and getting the housing market going again.
Comments
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David Flint
a. The UK is hung-up on house ownership. We regard houses as investments where we ought to see them as homes. This proposal just reinforces this.
b. Many people own a house or flat that they rent out. I don’t like the idea of forcing such people to sell. And who would set the price?
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Josh W
They already have such a right, but at the price set by the owner.
The best way I can think of to diversify owning houses is to reduce the incentives towards owing multiple houses. This way, those who want to rent will be able to, but those who would rather buy will also be able to, with landlords focusing more on students and mobile professionals. The question is how to produce such a change in a revenue neutral manner, so it can be tweaked to match and neutralise centralising incentives.And finally, since when was “easily perceivable” a requirement for action? I don’t perceive global warming, but I’m glad people are dealing with it!
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gerard collier
I have long advocated this. We should place private tenants on exactly the same basis as council tenants. Tenants of any property should have the right to buy on the same basis as council tenants (after some years of tenancy, at independantly determined “market values” and with the same discounts (paid for by owners) as council tenants. To make it even better we should impliment this retrospectively and watch the Duke of Westminster squirm.
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There is a far better way of doing everything. It is to do with my project in development of TRANSFINANCIAL ECONOMICS. See p2pfoundation entry on the subject. This gives the most accurate account of research so far.
Robert Searle.
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Adam Slough
The idea is interesting, but as far as I know it has not been tried elsewhere. What concerns me is that it is a brave experiment that might go wrong; there are several possibilities for a trainwreck. The most obvious would be if it less attractive for landlords to rent out properties; less rental property in the UK would mean average rents rising and a less mobile population.
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rantersparadise
Didn’t Thatcher try this??
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Maxine Mathews
I think this is a really bad idea, originally I bvelieve Margaret Thatcher’s.
A large pool of rentable housing, preferably publically owned and much larger than at present, helps people to relocate to suit employment prospects, family size and access to schools etc.
People don’t have rights to property ownership. People do have rights to decent housong.
Home ownership is exclsuive, and should certainly not be subsidised by public money, nor by loans to folk who can’t repay/
I feel the ‘right to buy’ should be abolished.
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Вообще, на мой взгляд, самое лучшее в личном блоге, так это самопознание.
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Fair comment, but at the end of the day, bank loans and mortgages appaer to be just as difficult to access as they were just 2 short years ago.
This really is turning into an awful conundrum for policy makers to get their hands dirty with. Lets hope the newly elected government is able to make more dynamic and decisive decisions….
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Excellent comments on using government funds that are being fed directly to the banks being re-routed through to first time buyers who are unable to raise a deposit through conventional means. Good attitude though it probably wont come to see the light of day until after the election, if at all….
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Посещаемость это хорошо
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I notice a excellent development in your publishing, I would love to get in touch. Keep up the excellent do the job! Your composing is quite inspirational for someone who is new at all to this kind of stuff.
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The effects of Global Warming is getting much stronger these days. We should concentrate more on alternative energy to reduce carbon emissions.
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Great article, I’ll remind my colleague who is looking for this kind of information.
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Posting Comment...
March 27th, 2009 at 10:37 pm
They already have such a right, but at the price set by the owner.
The best way I can think of to diversify owning houses is to reduce the incentives towards owing multiple houses. This way, those who want to rent will be able to, but those who would rather buy will also be able to, with landlords focusing more on students and mobile professionals. The question is how to produce such a change in a revenue neutral manner, so it can be tweaked to match and neutralise centralising incentives.
And finally, since when was “easily perceivable” a requirement for action? I don’t perceive global warming, but I’m glad people are dealing with it!
April 5th, 2009 at 4:50 pm
I have long advocated this. We should place private tenants on exactly the same basis as council tenants. Tenants of any property should have the right to buy on the same basis as council tenants (after some years of tenancy, at independantly determined “market values” and with the same discounts (paid for by owners) as council tenants. To make it even better we should impliment this retrospectively and watch the Duke of Westminster squirm.
April 22nd, 2009 at 11:37 am
There is a far better way of doing everything. It is to do with my project in development of TRANSFINANCIAL ECONOMICS. See p2pfoundation entry on the subject. This gives the most accurate account of research so far.
Robert Searle.
May 5th, 2009 at 7:12 pm
The idea is interesting, but as far as I know it has not been tried elsewhere. What concerns me is that it is a brave experiment that might go wrong; there are several possibilities for a trainwreck. The most obvious would be if it less attractive for landlords to rent out properties; less rental property in the UK would mean average rents rising and a less mobile population.
May 28th, 2009 at 2:31 pm
Didn’t Thatcher try this??
May 28th, 2009 at 3:25 pm
I think this is a really bad idea, originally I bvelieve Margaret Thatcher’s.
A large pool of rentable housing, preferably publically owned and much larger than at present, helps people to relocate to suit employment prospects, family size and access to schools etc.
People don’t have rights to property ownership. People do have rights to decent housong.
Home ownership is exclsuive, and should certainly not be subsidised by public money, nor by loans to folk who can’t repay/
I feel the ‘right to buy’ should be abolished.
August 23rd, 2009 at 9:08 am
Вообще, на мой взгляд, самое лучшее в личном блоге, так это самопознание.
March 17th, 2010 at 10:26 pm
Посещаемость это хорошо
April 15th, 2010 at 12:16 pm
I notice a excellent development in your publishing, I would love to get in touch. Keep up the excellent do the job! Your composing is quite inspirational for someone who is new at all to this kind of stuff.
April 26th, 2010 at 10:16 am
The effects of Global Warming is getting much stronger these days. We should concentrate more on alternative energy to reduce carbon emissions.
August 27th, 2010 at 6:25 pm
Great article, I’ll remind my colleague who is looking for this kind of information.