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They're also being significantly manipulated for global political reasons.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
But they only bring that industry in a few weeks per year in some cases - not a couple of weeks per month. Why would a restaurant or pub owner stick around for a whole year when they'd get business only through 6 weeks of summer?
Remember, it's easier to criticise than create!
Offset "(Emp) - a little heavy on the hyperbole."
Remember, it's easier to criticise than create!
Trouble is, that's what planning laws normally do, with the exceptions mostly seen in Northern Ireland and Eire
Why should it?
Indeed, why shouldn't it? I never suggested it shouldn't. It's all unearned income from capital gains and so should be subject to Capital Gains Tax.
It's the anomaly that houses (first homes, anyway) *aren't* included. By not doing so, it further encourages putting money into houses as opposed to any other investment, which is precisely part of the problem… this and the idea that house prices will always rise has created a tax-free, apparently risk-free magnet for money and led to excessive amounts of debt being taken on and interest paid to service it, to create nothing in terms of real wealth.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
I can see that having lots of people with more cash coming in displacing the current inhabitants would change an area. This happens everywhere, it's normally labelled as gentrification, but for some reason people think this is especially bad when it happens to pretty seaside or rural towns. Ironically, it's in the power of the local councils of these places to enable the replacement of homes bought by incomers, and by doing this they could mirror the normal effects of tourism in the Greek islands, for example, where poor farmers and fishermen now live alongside tourists and holiday home owners, and are considerably wealthier than they were.
This is why I don't understand how you can say " this contributes to the destruction of local economy"
I can see that it disrupts the local society, but surely not the economy, and the example you give with schools and GPs does not make sense - an overloaded GP suddenly has more time for patients, yet you think that's a bad thing, both would not happen anyway if the local council spent all the new extra council tax coming in on replacement homes for locals
wrong as I've already explained to you.
I'm not locked in here with you, you are locked in here with me.
some facts for you, it's not as simplistic as saying not enough houses, it's more complex than that.
http://positivemoney.org/issues/house-prices/
I'm not locked in here with you, you are locked in here with me.
However no politician is going to commit political suicide by suggesting fixing it, let alone actually doing something. So no matter how much we talk about it nothing will be done, until eventually either the economy totally stagnates or house prices crash disastrously, and the politicians say it isn't their fault. Which it very much is.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
FYI I never said those who can't afford to buy shouldn't be able to rent off a landlord - that's making stuff up from what I've been saying It's whether they should be private landlords, how they vet landlords, how much of a stranglehold should landlords have on the market etc.
Good link, @VimFuego - agree with all that and with ICBM. There was too much money floating around in 2000's - arguments were made that folk COULD afford as they WERE getting mortgages but it was due to too much money sloshing around for loans.
It's funny how they say mortgages are more affordable with lower rates but neglect the exponential rise in the asset itself compared to the interest component.
I think the exponential rise wont be replicated again - a lottery based on when you were born as to whether or not you "made money" out of housing.
My YouTube Channel
I'm not locked in here with you, you are locked in here with me.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
My YouTube Channel
Remember, it's easier to criticise than create!
Interesting, I'm not especially enamored with living in the UK, and several of my friends have moved to Oz, New Zealand, Canada, Korea, Japan...
My YouTube Channel
Remember, it's easier to criticise than create!