5. (2014 March) Likeable Link: Let to Buy

Landlords are having a free for all in the UK with the current “let to buy” scheme.

“The apparent exception to the state’s pandering to rentiers is the government’s Help to Buy scheme. You have not understood the full meaning of the word “disgrace” until you have understood its effects. Help to Buy no longer encourages the building of new homes or affordable homes. It does nothing to stop its potential landlords using taxpayer guarantees to buy homes to rent. (One third of the council homes sold to tenants by Margaret Thatcher are now owned by buy-to-let landlords. Why should it be different this time?) Albert Edwards, of Société Générale, described the use of taxpayers’ money to fund “Help to Buy” as a “moronic policy that stands head and shoulders above most of the stupid economic policies I have seen implemented”.”

The author, Nick Cohen, seems acutely aware of the Georgist solution, and his support for LVT is more apparent in this article.

Read the full article here: http://www.theguardian.com/books/2014/mar/02/all-that-is-solid-review-house-prices-danny-dorling

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