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Home truths about the housing crisis
The only way to solve the issue that cripples the ordinary home-owner or rent-payer is to levy a fair tax on land ownership, says CAROL WILCOX

THE HOUSING crisis is a consequence of land ownership. Land has always been the prime source of power and wealth in Britain and today 158,000 families own two-thirds of all the land. That concentration is increasing. This can be deduced from the fact that home ownership is declining.

While this country has the poorest housing stock of any developed nation, it is the land beneath which holds the value, especially in London and the south east, where the land-to-building ratio is huge.

While building costs rise generally in line with price inflation, land values have risen by much more since the 1990s.

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