These Morons need to go
The Housing Crisis Unfolded – A Rant on Government Policies and Their Impact
Introduction
In recent times, our country has witnessed a slew of government policies that have left many frustrated and concerned about the future of housing. As the property market faces a decline and opportunities for renting become scarce, it’s no wonder citizens are questioning the competence of those in power. In this blog post, we’ll explore how these ill-advised decisions have led us to a dire housing crisis, impacting not only landlords and investors but also the broader economy. Let’s dive into the issues at hand and discuss the urgent need for reform.
The Unfortunate Housing Policies
Our government’s approach to housing has been nothing short of disastrous. From ill-conceived surcharges to misinformed taxation changes, they seem to have overlooked the long-term consequences of their actions. Instead of incentivizing small investors and developers to buy and renovate properties, they’ve imposed a three percent surcharge on property purchases, making it more difficult and less cost-effective for them to invest in derelict properties.
Moreover, reducing capital gains tax and allowing corporations to seize the housing stock has further exacerbated the situation. As a result, it has become increasingly challenging for the average person to own a home in this day and age.
The Decline of the Rental Market
Back in 1988, the introduction of Assured Shorthold Tenancies (ASTs) was a response to the changing dynamics of the country and its working population. With more people moving around for work, easy access to residential lettings became essential for our growing economy. Unfortunately, a series of factors, including landlords’ caution and changes in legislation, have led to a decline in the rental market. This decline is stifling the recruitment process, restricting job mobility, and negatively impacting the economy as a whole.
The Housing Crisis in Full Swing
This housing crisis isn’t just a storm on the horizon; it is already upon us. While some may argue that certain changes, like a minimum EPC rating of a C, are necessary for improving housing conditions, the lack of a clear and gradual pathway with incentives has created more problems than solutions. It’s evident that drastic measures are needed to address the current situation, as we risk witnessing the collapse of our housing market.
The War on Landlords and Investors
One of the most pressing issues is the government’s war on landlords and investors. Instead of encouraging them to participate in the market, the policies have deterred small landlords, investors, and developers from engaging in property improvements and rental opportunities. This hostility towards landlords and investors must be reversed, as it is taking a toll on our economy and causing further distress for those seeking accommodation for their job relocations.
The Impact on Young People
The consequences of these housing policies are particularly harsh on the younger generation. With limited opportunities to get on the housing ladder and become homeowners, the under-40s are facing a bleak future. The mindset of “pulling up the ladder” threatens to create a “Lost Generation,” mirroring the struggles seen in Japan.
Conclusion
It’s high time for the government to acknowledge the severity of the housing crisis and take decisive action to remedy the situation. Encouraging small investors, developers, and landlords, along with providing provisions for those seeking temporary rental opportunities, can help revive the market and spur economic growth. Let’s unite in demanding responsible policies that pave the way for a brighter future and a stable housing market. Share your thoughts on these critical issues, and together, we can work towards a solution.