To think people who own more than 3 properties should have a special tax applied to them?

[Calltheguards]

I'm just thinking with the housing crisis, should people really own more than 3 properties? I would assume it's a property portfolio and used to exploit renters. AIBU to think there should be a special tax applied to property owners who own more than 3 properties? Maybe tax them at a really high rate to discourage people from hoarding property.

Govt should build more houses (in places that need it). In places that don’t need it, govt should think of ways eg transport to make it more attractive.

That's a brilliant idea, then they could sell them all to the people living in them and have none left!

@boobird - relatives live in a country where there is a govt housing company which builds council properties for people to buy at an affordable rate. Govt get money for building the property, people get a home. This will prevent housing companies from hoarding development land and only building and releasing slowly to maintain high prices.

@Namenic the poster is speaking about English property, BTL, social housing situation.

This "affordable property" they are building here, is kind of a bullshit IMHO.
I have them nearby and new built 2 beds - 4beds start at 180. Affordable property apparently. 2 bed for 180k when you can easily get 3 bed solid semi for 120k and less in nearby streets. All have same transport routes, schools etc.
That's not affordable property in my opinion...

Well the “affordable” housing in my city is 3 beds starting from 410K. Flats from 350K. And they haven’t finished yet and these have all been more or less snapped up.

@Bluebluered is it similar price to other houses? I was astouned to see the difference. I get that it's new built v 1940s semi, but difference of 80k+ on 3 deb is ridiculous especially when marketed as affordable
Also. Wowza at 410k for a 3 bed

For the area, not similar at all as it’s in a less affluent area. For example, about 0.2m away, 3 beds are on offer for 250-300k. It’s already one of the most expensive cities in England after London, and they’re just driving up house prices in a less affluent area to make it attractive to live in. It’s all bullshit really.

There’s huge waiting lists for the low cost housing on new developments. There isn’t nearly enough to meet demand.

They need to make high rise 3/4 bed apartments that are spacious. They could fit 5/6 homes in a block and I’m sure they’d meet the demand. I don’t understand why flats=small cramped conditions in the U.K. We need to stop spreading out and start building up.

Isn't help to buy for new builds finishing soon?

Y'know, this could have been a genuinely fascinating, educational thread if OP had come on and said "I have this idea, I'd love to learn more and understand if it would work or not - anyone an expert on this type of thing?"

But the doubling down on the doubling down has meant the gems of relevant information are outwighed by posters being possed off that some people can afford houses and they can't/landlords feeling got at etc.

I don't think we should be surprised that when this subject is discussed people's personal feelings are aired, people's lives have been severely negatively affected by the housing crisis, they are bound to want to sound off

She moved out and, being a money-grabbing parasite bastard, I rented it to a lovely couple for significantly less than other similar flats.

@CarolinaChina This is a good start. Public self criticism of your ideological faults and failings is the only way to political reeducation.

Carry on.

They do, it’s called stamp duty

We already get taxed more for 2 properties AND have to pay higher rate of stamp duty .
We don’t “ hoard “ houses , we live in one and the other is occupied by my inlaws

The question was for more than 3 (so 4 or more).

Anyways, it doesn't matter eventually something will have to change in the current system. With increasing automation and the obsoletion of jobs, social housing will have to increase or there will need to be a shake up to the current housing system. It's not a nice thought, and curtailing the number of properties tied in companies held in the Carribbean or wherever will need to be addressed. I only bring up this point because if social inequality is this bad now, I can't imagine what will happen in 1-2 generations. I think a trek back to medieval times and serfdom to lords of the land isn't really the solution but everyone has an opinion so there you go.

What I honestly don't get is the bile and sheer loathing. It's only natural to feel sore after a bad experience and I know some have a genuine issue with the principle of private rental, but how does that translate to such hatred for landlords as a body?

To be fair, we also get pretty hard comments where folk have been stung by individual tenants and some insensitivity around "why don't they just buy?", but I've yet to see a post damning any other entire group in quite this way ... or at least, not one which stays on the forum long

What I honestly don't get is the bile and sheer loathing.

It's sheer jealousy that's all. But people forget that whilst they have been busy working for an employer, some of us have been working for ourselves, missing bank holidays and holidays abroad to develop properties. A portfolio doesn't just happen it takes years of work. It's taken us 30 years and is our pension. We didn't take properties of ftb as the properties we bought were cash only, no mortgages would be given on them.

There is no "obseletion of jobs" . Unemployment is low in this country and fairly stable. What is happening is jobs are changing. Old jobs are becoming obselete, absolutely. But new jobs are appearing in different industries to take their place. Hence why unemployment remains low and stable.

But people forget that whilst they have been busy working for an employer, some of us have been working for ourselves, missing bank holidays and holidays abroad to develop properties.

ODFO. 😡

My dh and me have always worked bank holidays, no holidays abroad either. Our downfall is that we live in the south east in the most expensive city after London and our family and life is tied here. Yet we can’t afford to buy a house in the area where our lives are tied. So fuck off with your hard working patronising shit. We all work hard.

This is exactly why I hate landlords. Being constantly told we don’t work hard, even by family members like you. Just fuck off.

You could be right, Romany, but I still don't get what the point is. Envy or hate doesn't improve individual circumstances, but using all that mental energy for something more productive just might

Anyone with sense knows there are issues in housing, but I really can't see how all this spite and loathing's going to help ... and to throw in an extra thought, lord only knows what's going to happen when interest rates start to rise again

Well, I couldn't afford a bedsit in London, let alone a house.
We didn't go for the London life as wanted to do so much more with our life. Nothing stopping you Bluebird We started with £1k equivalent to about 10K.
Nothing to do with working hard, no idea where you got that from, maybe the huge chip on your shoulder.

Really? Telling us about working for yourself, missing bank holidays and not going abroad to build your fucking portfolio that’s taken many years isn’t trying to claim you worked hard? Harder than others?