JOSH RYAN-COLLINS* (JR-C) GETS IT Half- RIGHT
On WHAT NEEDS TO BE DONE TO FIX THE HOUSING PRICE CRISIS
--A Building Lots More Houses will not fix it. JR-C gets it.
--B Valuing Land separately from the House-Building is NOT difficult
--C DEMOLITION and RE-BUILD existing homes, building more houses, with more space, technically and thermally better on the land.
(YIMBY campaign to cram in more wonky houses and extend existing houses is futile.)
--D Only LAND prices are rising faster than inflation. House-building costs rise in line.
JR-C gets it. The conclusion that stopping land-prices is far and away the best fix. (Although ‘only’ holding building costs shows a tech failure by the industry)
--E Improve renting, don’t penalize landlords.
Renting rather than buying a home may often be a better option for many. JR-C does NOT get it. He assumes the brief to reduce ‘financial asset demand (for housing)’ by squashing BTL by regulatory and fiscal means.
I'll be elaborating each of these themes over the next few days and weeks.
*Ryan-Collins, R.
(2024). The demand for housing as an investment: Drivers, outcomes
and policy interventions to enhance housing affordability in the UK.
UCL Institute for Innovation and Public Purpose, Policy Report
2024/13. Available
at: https://www.ucl.ac.uk/bartlett/public-purpose/policyreport-2024-13.
Filed at HML/HousingMarket/Invest see NewStatesman p57 25-Oct-24