London: the city that ate itself

Re:London: the city that ate itself by mschuster91 on Tuesday June 30, 2015 @02:08AM (#9803246)

> Resale value would plummet if properties were taxed more, especially if extra onerous taxes were put on foreign investors. This would discourage rich dirty-money investors using central London property as an offshore savings account.

Another idea that just jumped to my mind: why not tax any capital gains on property sales by 100%? Of course, deduct the inflation over the time the property was held by the owner, and in case the value of the property was increased by e.g. upgrading it, also deduct these costs and 5% margin for this investment... that would essentially disallow property investment.

Homes are made for living and profits should be made by living in the property or by renting it out.

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Re:London: the city that ate itself by crdoconnor on Tuesday June 30, 2015 @02:52AM (#9803402)

I think this is basically the idea behind this:

https://en.wikipedia.org/wiki/Land_value_tax

Profiting from building a better home on the same plot of land shouldn't be eliminated, but profiting from building a house on a piece of land that suddenly becomes more valuable certainly should be.

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