@ZynxBTC@andyburnham Stopping immigration and building homes won't move the dial; the only true fix is to crash the house market, and no government has the spine to do it. Without a crash, any new supply gets taken by corps, and NIMBYs will fight new builds to save their asset price.
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Here’s a picture of the team behind BLACKWOOD. Thanks to this amazing crew and our wonderful community, we were able to bring this project to life.
@fthegurus If housing has only gone up marginally and it's just the currency collapsing, why has property managed to outpace inflation and wage growth so drastically that it now swallows up nearly half of western nation's total wealth?
Quality Of Life Patch Is Live!
Thank you for your feedback and for helping us improve BLACKWOOD.
Additions:
• Auto-save
• Snappy Combat Movement toggle
• Separate FOV sliders
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• And more: https://t.co/RoBK4Wc8CR
@turnipdodger Housing/land and speculative markets, that's where it's all gone. People rip on government spending but as long as the money circulates throughout all the economic sectors it's fine. When it starts to pool and gets trapped in dead assets... Well look at the last few years...
@stuey_beef By that logic, shouldn't we look at the biggest expense first? State pensions dwarf disability and all other welfare costs combined. You can't call for major welfare reform while exempting the absolute largest item on the bill.
If you caught Gamescom FGS last night, you might’ve noticed...
Absolute privilege to announce that I’m voicing Anton in Blackwood (Act One dropping Sep 16)!
Watch the full trailer: https://t.co/H3F5UV4M5W
Go wishlist on Steam! 📼🔫 #FutureGamesShow#Blackwood#VoiceActing
You can hear me as William in Mortal Shell II @mortalshellgame! It’s been an absolute honour working on this project, and seeing the launch rollout has been surreal. Here's one of my favourite scenes. 🎬✨
#MortalShell2#Voiceacting
@snpwatch Eventually the speculators and those treating housing as a money hack abandon their 400k+ London assets bringing the value of the couples bedsit down. Thus lowering the cost over time. Housing needs to be a home not a finical instrument, sadly no pain free way to do it.
@EssexPR When 7tril is trapped in dead assets because "it must always appreciate in value" it kills your economy. It may be painful and the government must ensure sole homes arent lost, however land and housing values need to deflate and that wealth flow into productive industry.
@rutgerbregman Both are right, NIMBY and the rich land banking is a problem but the route cause is the belief that housing and land is a wealth building asset that must always grow in value. Until homeowners and the wealthy accept that it has to change, we are just plastering the problem.
@SkyWalking247@garyseconomics They buy because they bet on long-term appreciation & tax breaks. If you tax land, you kill that bet. PE doesn't want 'stagnant' assets; they want rent-seeking havens. Stop the tax breaks, and they have no reason to hoard the stock. It’s the policy, not the crash.
@SkyWalking247@garyseconomics The state protects the resident, but taxes the landlord/speculator. The capital leaves because the passive yield is dead. Keeping the resident in their home doesn't 'trap' the capital—taxing the land destroys the incentive for that capital to stay.
@SkyWalking247@garyseconomics I empathise, you have a house worth 400k and that might be your retirement or inheritance to kids, but in a couple of years that value wont even be able to be turned liquid and only corps will buy it at discount price. Finalization rots the country then it moves on to the next.
@SkyWalking247@garyseconomics Here's where I'm unpopular in two places I don't think LVT or dead asset tax should be about raising government money, its aim is to force wealth to move into productive assets. Unfortunately all homes and land values need to plummet regardless of socioeconomic status.
@SkyWalking247@garyseconomics My problem is you don't grow productivity with just efficiency pushes, there will always be leaks no matter what. As long as it's more profitable to extract rent from assets Vs building new supply that's what kills the economy in the end. There is 7 tril trapped Vs 8bil wasted.