Stop boom and bust, say Rown­tree

Yorkshire Post - Property - - PROPERTY -

THE hous­ing mar­ket needs ur­gent re­form in or­der to avoid the boom and bust cy­cles that have plagued it for the last 40 years, ac­cord­ing to the Joseph Rown­tree Foun­da­tion.

Its new re­port, Hous­ing Mar­ket Task­force, calls for hous­ing sup­ply to be boosted, in or­der to limit volatil­ity; caps to be placed on mort­gage lend­ing; re­forms to stamp duty; coun­cil tax to be re­placed by a na­tional prop­erty tax; and de­vel­op­ing other al­ter­na­tives to home own­er­ship.

It also sug­gests a fur­ther clam­p­down on lend­ing and a re­stric­tion of max­i­mum loan to value ra­tios.

The re­port also says the pri­vate rented sec­tor doesn’t of­fer se­cu­rity for fam­i­lies.

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