What he's saying is that artificial restrictions on land supply will lead, well, to less supply. Inevitably, the less supply of land available the higher the prices.
As I said, I'll have to sit down and read it, but that seems like Economics 101 right there. Once read and digested, I'm sure I'll compose some sloppy rhetoric on why restrictions are important, and why (in Perth at least, there's no shortage of land, there's just a shortage of quarter-acre blocks close to the beach.
By unearned increment what is meant is the tendency for land prices to increase in market value without the owner contributing to that increase in price.
Nothing wrong with that, surely, at least for one's primary dwelling place? I should loathe to have to pay tax if we ever sold this house, mostly because I suspect we'd struggle to get back into the property market. I think we have have discussed this in the dim past.
On the other hand, if you want to take the whip to speculative property investors, have at it.
no subject
As I said, I'll have to sit down and read it, but that seems like Economics 101 right there. Once read and digested, I'm sure I'll compose some sloppy rhetoric on why restrictions are important, and why (in Perth at least, there's no shortage of land, there's just a shortage of quarter-acre blocks close to the beach.
Nothing wrong with that, surely, at least for one's primary dwelling place? I should loathe to have to pay tax if we ever sold this house, mostly because I suspect we'd struggle to get back into the property market.
I think we have have discussed this in the dim past.
On the other hand, if you want to take the whip to speculative property investors, have at it.