1. TAKING HOUSING OUT OF THE MARKET Sarah Glynn University of the West of Scotland and Common Weal

2. Policy Aims: provide a decent affordable secure base for all contribute to a stable economy increase equality (rather than inequality as at present) create attractive spaces strengthen community contribute to environmental sustainability

3. restrict the use of housing as speculative investment progressive decommodification of housing an agenda for a better society that stands on firm economic foundations

4. public investment in good affordable housing brings returns across the economy

5. Major investment in public housing as a generally available tenure of choice Land Value Tax Taxation of profits made through home ownership Reregulation of mortgages Extension and normalisation of Mortgage to Rent Extension of empty homes legislation Regulation and phasing out of private renting Strong and democratic planning

6. If private owners were increasingly restricted from using their homes to make private profit, while tenants were given greater security of tenure and freedom to personalise their homes, and all homes were subject to socially-driven planning and regulation, then, in the long run, the differences between ownership and tenancy would tend to diminish.

7. publicly owned rented housing - eliminates speculation - affordable and secure tenancies for all who want it major investment in new and upgraded public housing through local councils

8. end to Right to Buy end to other social-housing privatisations end to needless demolitions

9. big increase in the housing budget but: Decent housing is a basic requirement of a well-functioning society. The lack of decent affordable housing has financial as well as social costs, and the financial gains from the provision of better homes are huge. The building, upgrading and maintenance of these homes would provide an economic stimulus and help counter the impact of the economic cycle.

10. rental income can pay for running costs, but building and upgrading need public investment the financial rewards of public housing investment fall way beyond housing revenue accounts raise money through public-sector borrowing (national and municipal) and progressive taxation

11. planning and management of public housing needs to be developed as part of a reappraisal of local democracy Democratically-elected council ownership for overall planning Locally-based management with active tenant involvement A strong independent tenants’ voice freedom for tenants to make alterations

12. good available public housing would remove the imperative to get on the housing ladder to get a home fiscal changes would restrict the use of homes for speculation

13. End subsidies for home ownership Extend capital gains tax Raise capital gains tax and inheritance tax Introduce Land Value Tax mortgage regulation to prevent default and overheated market

14. house prices should be allowed to fall and to stabilise at a more realistic level house prices in Germany since 1980 have remained relatively stable with an overall slow decline

15. what would happen if prices fell? People struggling to buy or rent - benefit Owner occupiers – paper value not relevant Trading up - benefit Trading down – lose potential profit but can use Mortgage to Rent Speculators – main losers Also need properly-funded policies on pensions and elderly care

16. Mortage to Rent - normalised ‘Right to Sell’ – Dorling 2014

17. strong transparent democratic proactive planning

18. Decommodification of housing is not only key to the provision of good homes, it also forms a firm basis for a strong and more equal economy. allofusfirst.org