The far left is peddling snake oil on rental housing

cityam12:28

Interest rate fears hit the housing market. Hammering landlords with building safety rules, the Renters’ Rights Act and tax rises hampers new supply and drives up rents. But Britain’s hopeful TikTok ...

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Hammering landlords with building safety rules, the Renters’ Rights Act and tax rises hampers new supply and drives up rents. But Britain’s hopeful TikTok ...</p>\n\n<a href=\"https://www.cityam.com/the-far-left-is-peddling-snake-oil-on-rental-housing/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OIH","symbol_name":"石油服务ETF","start_time":0,"source_url":"https://www.cityam.com/the-far-left-is-peddling-snake-oil-on-rental-housing/","article_id":"2677644080","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/10/1792491987751-2f4f9f9c-722c-4711-8fc5-0f7f9e1327ce_1-1.jpg?w=320&h=320&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/the-far-left-is-peddling-snake-oil-on-rental-housing/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2677644080","pubTimestamp":1792556880,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Interest rate fears hit the housing market. Hammering landlords with building safety rules, the Renters’ Rights Act and tax rises hampers new supply and drives up rents. But Britain’s hopeful TikTok prime minister could take a different direction in a bid to drive growth, says Andrew TeacherFor many Jewish Londoners, the Green Party’s vote on Zionism on 4 October consigned the party to the dustbin of unelectability, recalling racism that many remember from the British National Party’s brief resurgence in Barking and Dagenham back in 2006.But the Greens’ stance on Zionism isn’t the only snake oil they are peddling. Their demands for rent caps and their wasteful use of local taxpayers’ cash to sue London mayor Sadiq Khan over his pragmatic approach to encouraging housebuilding  demonstrate the potential of the far left to make a bad situation worse.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"OIH":"石油服务ETF","BK4570":"地缘局势概念股","SCO":"二倍做空彭博原油指数ETF","VDE":"Vanguard Energy ETF","USL":"United States 12 Month Oil Fund LP","DRIP":"Direxion Daily S&P Oil & Gas Exp. & Prod. 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Hammering landlords with building safety rules, the Renters’ Rights Act and tax rises hampers new supply and drives up rents. But Britain’s hopeful TikTok prime minister could take a different direction in a bid to drive growth, says Andrew TeacherFor many Jewish Londoners, the Green Party’s vote on Zionism on 4 October  consigned the party to the dustbin of unelectability, recalling racism that many remember from the British National Party’s brief resurgence in Barking and Dagenham back in 2006.But the Greens’ stance on Zionism isn’t the only snake oil they are peddling. Their demands for rent caps and their wasteful use of local taxpayers’ cash to sue London mayor Sadiq Khan over his pragmatic approach to encouraging housebuilding (reducing the quota for accelerated consents from 35 per cent to 20 per cent affordable housing) demonstrate the potential of the far left to make a bad situation worse.\n\n\n\nHackney and Lewisham, both now led by Green mayors, spent £68.2m and £93m respectively on temporary accommodation in 2024/25. Tower Hamlets, led by Aspire, spent £67.6m that year. Yet all three are taking legal action against a policy intended to get more homes built.For years, everybody but the property industry itself could see that regulation was coming. And, as someone working in the sector for 20 years, it’s wholly needed. But, as with any sector – financial services, teaching, driving Ubers – regulation that treats everybody as a criminal is never going to fix a broader problem (not enough quality homes to rent).\n\nStay in the know\nThree daily briefings with the key market moves and top business and political stories.\nSUBSCRIBE HERE\n\nAny smart politician will be looking at demographic data right now and spotting that the rental crisis that has been brewing for years results from a spider web of damaging policymaking. Ironically, until recently, property development has typically been more buoyant under Labour. \n\n\n\nPolicymakers have ignored warnings around the need to focus on driving the supply of rental housing, while catering to tabloid front pages with expensive gifts to first-time buyers. We do need to help first-time buyers as well. But the housing market is a market and needs to work for everybody, not just one narrow group.Tax raidIt was George Osborne’s tax raid on buy-to-let landlords, removing generous allowances for mortgage interest, that began the slide to where we are now. This was combined with an even more damaging smash and grab on housing associations, where social rents were cut by one per cent a year for four years, wiping tens of billions of pounds off social landlords’ balance sheets, literally overnight. Its legacy was that cash for maintenance evaporated, leaving a plague of damp and mould now being cleaned up at the expense of Britain’s poorest souls. What most politicians now fail to understand is that housing is an ecosystem and that bad policy has a wealth of (often unintended) consequences. You need all parties to be thriving: buy-to-let, funded by mums and dads happy to lock up their pension savings for pretty modest returns; build-to-rent developments funded by local government pension fund cash and insurers; volume housebuilders, whose shareholders are – you’ve guessed it – many major pension funds; as well as charitable housing associations, which have increasingly been stepping in to fill the societal gaps left by council budget cuts over the last 18 years.\n\n\n\nMuch has been made of Burnham’s promise to focus on council housebuilding. This is an admirable objective, as are many other unfunded promises currently on the table. The reality is that, unless the taxpayer wants to fork out the best part of £20bn extra per year, the current gap in social housing provision isn’t going to be closed anytime before 2040.Therefore, if we’re even half serious about returning this country to growth and providing the housing London needs for key workers, first-time buyers and anybody else reading this newspaper, there needs to be an overnight change of tack.Moves to cut stamp duty are absolutely essential, not least for pensioners rattling around in houses far too big for them. Hammersmith and Fulham Council has talked up its provision of social care for people living in their own homes, but providing the right kind of senior living for oldies that stages care up as they require it would make more sense.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.0","shortVersion":"4.52.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2677644080","isCrawlerRequest":true}