4 ms·

LTV won’t work in the UK land ownership is way too concentrated and leaseholds give land owners an easy tool to transfer the cost to the leaseholders. London a

LTV won’t work in the UK land ownership is way too concentrated and leaseholds give land owners an easy tool to transfer the cost to the leaseholders. London and other metropolitan areas still have a lot of low income housing in very high value areas, there are current/former council houses in Westminster and Kensington and Chelsea for example that sit on land worth billions. LVT in the UK would likely just increase cost of ownership for leaseholders which would make flats in cities even more expensive (and since many newly developed terraced, detached and townhouses also come as leasehold these days even buying a house won’t help) and just push for further gentrification as housing like this https://en.m.wikipedia.org/wiki/Hallfield_Estate https://en.m.wikipedia.org/wiki/Hallfield_Estate would become economically non-viable.

ClumsyPilot 5y ago
"leaseholds give land owners an easy tool to transfer the cost to the leaseholders" This relationship has always reminding me of medieval surfdom, i think it's deeply unfair and rigged and needs to be abolished.
- dogma1138 5y ago
  It is the UK never really had a “democratization” of land ownership like the rest of Europe especially following WW2.
- imtringued 5y ago
  https://www.ducksters.com/history/middle_ages_feudal_system.php https://www.ducksters.com/history/middle_ages_feudal_system.... >Lords and Knights - The lords ran the local manors. They also were the king's knights and could be called into battle at any moment by their Baron. The lords owned everything on their land including the peasants, crops, and village. It was not the king (the government) but the local lord (the property owner) that abused his subjects the most.
imtringued 5y ago
>LVT in the UK would likely just increase cost of ownership for leaseholders which would make flats in cities even more expensive Increasing the cost of ownership makes it more expensive to speculate on real estate which would drive prices down. The most speculative assets have no maintenance costs.

ClumsyPilot 5y ago

"leaseholds give land owners an easy tool to transfer the cost to the leaseholders" This relationship has always reminding me of medieval surfdom, i think it's deeply unfair and rigged and needs to be abolished.

dogma1138 5y ago
It is the UK never really had a “democratization” of land ownership like the rest of Europe especially following WW2.
imtringued 5y ago
https://www.ducksters.com/history/middle_ages_feudal_system.php https://www.ducksters.com/history/middle_ages_feudal_system.... >Lords and Knights - The lords ran the local manors. They also were the king's knights and could be called into battle at any moment by their Baron. The lords owned everything on their land including the peasants, crops, and village. It was not the king (the government) but the local lord (the property owner) that abused his subjects the most.

imtringued 5y ago

>LVT in the UK would likely just increase cost of ownership for leaseholders which would make flats in cities even more expensive Increasing the cost of ownership makes it more expensive to speculate on real estate which would drive prices down. The most speculative assets have no maintenance costs.