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This article is offensive to the Maginot Line which actually did its job very well (I plan on writing a history piece that covers the French Army’s utter cock-up in the near future though)...

On a serious note, I too was glad to hear this scheme was ending but alas, the government doesn’t get the message. Without meaningful changes, home ownership looks like it will be beyond many Millennials and Zoomers who will have little to conserve. Bodes well for the future I guess.

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May 2, 2023·edited May 2, 2023Liked by Tom Jones

Firstly the Maginot line was broadly successful. In fact an argument could be made it was too successful and that overconfidence lead to a deranged advance into Holland...

Regardless. The truth of the matter is without help to buy house prices will sink and no tory government will stand if house prices collapse.

The real solution to the housing crisis is to build more 1950s style brutalist flats for high density living. This however is a long term solution.

The short term solution is to allow pension funds to build to sell housing and allow them to convert office blocks (of which there are already far too many) they already own to residential housing without extensive planning permission. Provided they meet building and sale requirements.

Pension funds are about to be wrecked by a collapse in office space rental prices and regulation restricts then from doing much else than fireselling to PE firms who'll just build large numbers of high net worth flats and cash in with massive profits. Thus allowing a conversion to sell provided the right kind of housing is created would return pension fund holders reasonable profits (and not massive losses) and create cheap living space.

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May 2, 2023Liked by Tom Jones

I came for the fisking of terrible, ruinous housing policy. I stayed for the very good WWII jokes. Thoroughly enjoyed.

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