Quote:
Originally Posted by Lilly
Why do you want house prices to halve?  |
The only people who benefit from high house prices are the goverment ( stamp duty, inheritance tax), estate agents ( %comission on house sales) and Banks ( interest on larger loans).
If houses were £3.50 the gov would not get stamp duty, Inheritance tax would only hit those with actual 'money', estate agents would get less comission for house sales( OK, they would probably then switrch to fixed price sales but hey, we are talking about as it is now) and banks would make less interest for teh life of your mortgage.
People seem to think that a house is some kind of wealth when in reality the only time you can release that wealth is when you either die or dowsize( at which point if you aren't careful CGT grabs a chunk.