Land Auctions - Breaking the development land monopoly
One of the most dysfunctional markets globally is that of housing.
If you ask most people who want to buy a house, what they want, you'll generally get an answer that is simply a location, a number of rooms and perhaps whether or not there is a garden. Or... they might just say "Any. I just want to get on the ladder".
The general case is comparable to asking someone what car they want and them saying "One with four wheels and an engine". In fact, the choices available to people as to the features of a new build home are comparable to 1908, when the Model T Ford was first available - only in black.
... TO BE COMPLETED...
- Consider compulsory purchase of devt land at ~agri prices - local authority becomes master planner, sells plots on long lease, would easily fund very high quality services and high proportion of affordable housing. Plots could either be sold, or bought on a land rent basis (e.g. 400pcm linked to local land prices).
See also: Community Land Auctions, LVCs