David McWilliams: fixing the housing crisis, why he'll never have a boss & Ireland's class obsession
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- Опубликовано: 12 май 2019
- Ireland Unfiltered: Dion Fanning talks to Irish economist and writer David McWilliams.
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Great talk
He should be in Leinster house helping to run the country . The type of guy who has the common sense and intelligence to make real change happen . I would vote for him .
Kudos to the interviewer, he allows David McWilliams to speak and expand his ideas.
Replace eoin murphy with this man. Fix the housing crisis in a year.
Yeah :)
Replace eoin murphy with anyone, the man is a complete wind bag.
Ireland must follow Singapore or Austria! In Singapore all land belongs to state, not private corporations! Gov builds apartments for affordable rents!! When greedy private corporation take control the crisis never ends!! Both big parties in Ireland don't want this!!
I think hes a real good guy that would do well for Ireland as a politician.
I know McWilliams would deny he would ever consider it but fact of the matter is, he needs to get involved in politics and stand for election if anyone has any hope of any of these great ideas coming true. Just hearing about it on endless podcasts, as much as I enjoy listening to them, is sadly not going to cut it in 2019.
McBankGuarantee already has gotten involved in politics. He advised Biffo, Lenny and Gormless to bail out the banks. You have been paying for it via PAYE ever since. McBankGuarantee is now very wealthy. He is just virtue-signalling.
@@themsmloveswar3985Do you ever have anything nice to say?
I don't know, George Lee tried and got frustrated that he was a 'star' candidate, but the political party/establishment had no intention of actually listening to him.
It's a very very different game to enter politics and do the real work of making complex change versus pontificating from the sidelines as david does. He is good at taking about stuff, doesn't mean he could or even would be any good in politics.
I would love to see Ryanair o Leary run the HSE
Allowing houses in the capital city centre to be derelict and run down is a national disgrace. Anyone who owns property in any major city, Dublin, Cork, Galway, Limerick, Waterford, should be legally forced to maintain the property exterior to high aesthetic standards. If you can't maintain them to high standards, sell them.
Yes and property in the cities left vacent for two years should be taxed at three times property tax.
ireland should investigate management companies who take management fee's but do nothing to bilding. specifically limerick. imagine 2000e per year from each apartment, but the bilding is dirty ewrithigs is broken lifts not working so on.
It costs huge money to renovate
@@johnlee2579 Like the huge money the state pays landlords to house people?
@@LOGOS422 they get a lot of that huge money back. The tax on rent is crazy high
Selling little bits of Ireland to each other using other peoples money. WHAT A SUMMARY OF THE CRASH. I am aged 83 and bought an apartment in south Dublin in 2007 for 505k euro with a sitting tenant paying a rent of 2000 per month...now in 2022 the apartment is worth 475K AND THE RENT 1800 EURO PM. I LEARNED THE HARD WAY. DAVID MCCABE Dublin Irelland
Great interview 👍
brilliant man
The idea that the solution to the housing crisis is to tax people into submission is just going to increase the number of people in society who are adrift. The idea that "age is not an achievement" is fatuous. The achievement is to live stable productive lives over a long period, and provide for families and one's retirement. At some point they may end up living in valuable properties, which even through conventional property taxation are a burden if you do not sell up and leave. To say all that added value should be taxed, is just to ensure that everyone lives in constant fear of being forced to move and find some place that they can manage, that won't get blown out from under them also.
Ireland's property troubles come from stuffing the place with lots of people and capital that are not related to the people that live there, but to artificial economies created from outside the island itself. That may be great good fortune. But if you push people out of their homes in response to whatever takes flight in local property values, that under his insane prescription are actually caused by people who do not live in those rising value neighbourhoods, is to weaponize whatever resentments there may be in society over the capital and people who are flooding in (as well as the changes that happen from within.
Think it through. Celtic tigerism drops a huge california tech giant in your neighbourhood, and rather than having the price of your property go up, you have a massive increase in taxes, that drives you out with a check for only the value of the bricks and mortar that were placed on the land. I can hardly imagine a more powerful mechanism to promote Irexit.
Very interesting chat.
Really enjoyed that.
Listening all day so much sense
...very interesting conversation!!!! I remember,,, back in 2004,, screaming,, "why isn't anyone listening to David McW,,,????
I have so much respect for Mr David McWilliams and the solutions he proposes! ❤️
Why has this man not formed a political party ??? There has never been a time this country needs a new fresh party more. Stand up David " YOUR COUNTRY NEEDS YOU "
Excellent!
Someone drew my attention to Dion's Hmms and yeahs after every 4 words Mac says, and now i can't stop noticing them.
It's a shame, such a great interview. I can't watch it. This is a type of tick he has not unlike the eh's that were coached out of Bertie when he became Taoiseach.
Everything is too expensive in Ireland. If the govt stopped gorging themselves on VAT we would have more left over and be able to pay our bills
Crazy.shine the light on the real problem.
For over four decades I have been involved in a serious international effort to change the way government at all levels raises needed revenue. I am a U.S. member of the London-based International Union for Land Value Taxation. The reforms we are working for will help to solve the social and economic problems of Ireland as they would in the United States.
What has passed for "tax reform" in the United States and many other countries has resulted in serious financial problems in our communities. Funds are scarce for schools, for infrastructure replacement, and for the type of public amenities that make our communities good places to live, work and play. So-called "tax reform" has also accelerated the concentration of income and wealth at the very top, leaving millions of people to struggle just to meet basic needs.
What we need to do is return fiscal sovereignty to our communities. This cannot be achieved by any one measure, but it cannot be achieved unless we empower communities to start with one fundamental change in tax policy. This is to restructure (i.e., reform) the property tax by exempting all property improvements and relying only on the value of land for revenue. The economics in favor of this change is well-documented, and there is a modest degree of real world application to demonstrated its potential.
The measure was seriously advocated in Ireland by nationalists such as Michael Davitt in the late 19th century.
The value of any location in any community is based on the relative advantages or disadvantages of the location. Advantages can be natural (e.g., nearness to a navigable river, lake frontage, etc.), but in our towns and cities, the advantages are directly related to population density, the level of business activity and the quality of public goods and services. Thus, every parcel of land, every location, has some potential annual rental value (i.e, what the location would yield in "rent" if offered under a leasehold arrangement). This rental value is created not by the individual holder of the location but by the community's aggregate investment in causing the location to be accessible and therefore of some value. Thus, the rental value of locations rightfully belong to the community and should be collected via the tax system. At the same time, buildings are individually-produced, are depreciating assets and should not be burdened by taxation.
A shift to the taxation of the rental value of locations generates significant changes in behavior of owners of locations. Those who hold vacant or underutilized locations have a strong financial incentive to bring the land they hold to its highest, best use, or sell to someone who will. Speculation in land no longer is profitable. Only development is rewarded financially. Land prices will come down, lowing the cost of doing business for anyone so engaged. With lower land costs, housing becomes more affordable. The synergy is all in the direction of sustainable economic growth toward full employment and a revenue stream sufficient to respond to community priorities.
Edward J. Dodson, M.L.A.
Director
School of Cooperative Individualism
www.cooperative-individualism.org
That is an interesting concept
@@paulferris2218 Consider becoming involved. Look up the International Union's website, study the issues some more and perhaps become a member.
@@nthperson I just might do that doesn't Hurt to get a different perspectief on these issues, I believe in never close your mind. That way leads to people just making the same mistakes
Opression is correct! the mindset still here, no matter how you reword it.
Brilliant insights from McWilliams but my god, that interviewer is shocking. He sounds like Mr. Mackey from South Park. ‘’Mmm... mmm... yeah... mmm.”
I like his style as he says little and this tends to put his guests at ease to just be themselves,and in that they either hang themselves or come across well.
What he is actually saying is:
- You buy a house for 100K
- Over time it rises to 300K, but most of that is not yours., it comes from the fact that you located near a train line, and other people who arrived later have to walk past your place to get to the train. They would rather not walk so far, and as a result would pay more to live were you do (times every other thing that is not down to you, and is driving up your home value).
- The margin that is created by society's late comers is society's and should be captured in taxation, not in home equity.
- Therefore your taxes should rise to an amount that would drive you house value back down near to it's original price of 100K. That is a hell of a lot of tax.
- Since there are plenty of people who are income lean and property fat, many will have to sell up and hit the road, as the taxes are high, and as David points out, not based on anything particular to you, just what other people are doing and valuing around you. So there isn't any reason why your income would rise just because your taxes have risen.
- Or he could be talking up a storm about how bright he is while not actually intending taxation quite that high, in which case it will probably still drive a lot of people out, but not actually control ballooning prices.
Not sure where the win is in this, other than for the tax man.
Yes and his idea that we should build mil!! Of cheep units for people to live in? Without offering them a stake in it is just back to his same point about the area where he was brought up. Is he saying we have to repeat history?
I don't know where the resilience of the Irish people comes from? Maybe it's our history of being kicked in the teeth for hundreds of years by the ruling classes. Be it the English/Brits, or our own self indulging policy makers in Dáil Eireann. Brilliant interview. Pity David isn't in government himself. Minister for the economy. I'd give him my number one vote any day of the week.
We need to get rid of the height restrictions on apartment blocks, this 5 stories and below business has got to go. Also! another mad waste of prime real estate 10 minutes from the CBD I see daily on the bus is just at Harts Corner in Dublin, an old factory site that could have been turned into a development for 100s of apartments has been used to build houses!?? its utter f*cking madness do we never learn!
I only wish the government would listen more to David Mcwilliams.
Gosh the sound on this is really low... I have it up full blast and it's still rather quiet...
The housing crisis is because the cost to build a new home is crazy . The law enforcement by the government to make all home a 1 rates , is like making everyone drive a Volvo Xc 90 because they are a safe. We should be allowed build cheaper type homes.
Its just got more epensive
This man is a genius folks.....why would he even think about becoming a Politician ??? he's way above that....that's my twopence worth.....
and what is a higher calling
Just brilliant to listen to someone who can see things for what they are. A brilliant mind
Big mac can talk all night it's all about the unequal distribution of wealth, and that ain't going to change any time soon ,writing books for clowns is a brilliant con it's better than working 👍
He's absolutely right in describing Brexit as a nervous breakdown. As an Englishman myself, it's been bewildering to witness. A society that has created huge numbers of people who are simply not equipped to deal with the knowledge economy, and a huge proportion of old people, have combined to effectively vote to try and stop the world and get off.
It isn't the same deal for everyone. Ireland did well; South of Europe is in the bin; UK has always been a bad fit.
It is a bit like the vote for SF, where the young people actually see them as the peacemakers since their generation were mostly born after the GFA. For a variety of reasons young brits don't actually have much outside the EU perspective, so they don't really know what they are talking about, as they only know the one thing, unless they are well traveled and have seen a few other options.
Be it agriculture based or digital or 5G economy call it what you like, but when the greedy elites through their legal monopoly controls it,... it is certain to fail!! When there is no desire among big political parties to house the working class and the poor, ... its an economic catastrophe and a completely failed state!!
He is just another EU propaganda stooge!!
how can he say the individual has pushed out the state? the state is at the heart of everything in Ireland from high national debt to bank bailouts to social welfare to high tax rates. They also influence the housing market hugely(both rental and sales via HAPS and NAMA respectively) That's not even mentioning the black hole that is the health service. As the debt ballooned with it the state grew. It's more accurate to say that the state has pushed the individual out to support itself, the welfare state and the banking sector.
Population of 10 million would be a disaster in making,imagine how bad the health service would be,housing,basic services,if they are bad now what would they look like with double the population.
As both an Irish and American citizen, I think that we need to be careful how 'dynamic' the Irish economy really is. Living in Cork it is obvious that if the American companies returned to US shores, where they rightfully belong, the Cork economy would quickly collapse.
Most Americans hate pharmaceutical companies because they absolutely exploit American citizens. If we were able to negotiate pharma prices in bulk, like it should be, would force prices in the rest of the world higher. Plus, these guys skipping out on paying taxes to the American economy drives many of us crazy.
We need to support indigenous industries. In particular, tge dairy and beef
that's obviously not going to work with greenhouse gas penalties. No modern economy is built on agrarianism, we'd go back to the quality of life (abject poverty) we had before the 50's
What the Neoliberals understood was that ordinary people in debt vote ever more conservatively to protect their ability to pay that debt. Blair pushed student debt for the exact same reason. Debt associated with ones home is a profound un-natural burden, Social Housing is designed to eliminate the poverty imposed by private rental Oligarchies dominance.
Hoarding leads to dereliction.... which is why many small towns in Ireland look like kips. I know, I live an a medieval town that could be beautiful.... full of empty shabby buildings with owners who don't love the towns where their assets are, they love their money, but not the communities.
I am Polish, lived in Éire for 11 years. I am back in Poland. The thing that makes a massive difference is a very strong local government in Poland. Like it or not we borrow lots of ideas from Germany. And their local government is also great.
My Irish friends who visited me in Poland like the place a lot. Appreciate how we do things..
@@jezalb2710 Goodness, yes. We used to have much more powerful local government, but the national government have been stripping them of power & funding for years. Local government seems to just be a talking shop, their budgets are small & civil servants have to apply for grants for every project they want to do (they don't always get those grants). Never the less, dereliction fines are within the local governments power & I'm honestly bewildered as to why they don't apply them vigorously.
@@mairedaly4926 in Poland local government at different levels (parish, county and province levels) get a cut of the PAYE tax, local property taxes also go to the local coffers. Hence they local authorities are interested in getting people to live in their local area. Money is invested in improving public transport. The government on the ground knows much better than the central government in Warsaw or Dublin what is needed.
when you're buying a house you want it for a tenner..when you own it you want it worth a million quid
build houses onto the sea good idea where there are no big waves and build bridge recreate land stop homeless
“Mmm”
When so many of the politicians and/or their families are either direct landlords or investors, does anyone really think anything will change?
Very interesting interview. Good listening to the voice of reason.
☘️🌝🌲
The Northern Ireland Protocol(NIP) is driving economic integration on the island of Ireland. Political unification has been put on 'Turbo' by Brixit.
The saner Unionists, or at least those who are connected with reality, are having conversations among themselves which would have literally been unthinkable pre-Brixit.
Farmers in Northern Ireland(NI) are getting prices they could NEVER have dreamed of, pre-Brixit.
Provided the current clown show which is the UK's government doesn't invoke Article 16 and scrap the NIP, NI is going to experience a flood of foreign investment the like of which it has never known, and the economic boom it desperately needs...
Blame the mandarins, vulture funds, bankers, developers, Catholic church, the Brits, and so on. Maybe we should blame ourselves.
VAT on insulation and tax on everything to pay all the debt we are in. Nothing works or is run right in the countrty. We have the most expensive and shit health service in the world. The welfare rate are twice that in the UK.
i live in the uk having left ireland.. ireland has a much better standard of living try living on the welfare in the Uk or work on minimum wage
EpicGurth it’s a fact try living in The Cotswolds or rural wales re transport !!!!!
Also being sick ??? Healthcare isn’t perfect but you are looked after
Brexit may be a breakdown, though we now have Krugman, Carney, and even French advisors to their government saying things from it is no biggie just a little friction, to a UK win.
The Irish are always a little superior on Brexit, as though their standard of living was somehow from splitting the atom, rather that just getting a 46 billion Euro windfall for being a donkey driven agricultural nation in the Space Age, back in 72. They also got a windfall in regulatory arbitrage. It great to see the prosperity, but tone it down.
I'm so sorry, please accept my apology on behalf of 'the Irish'. Good luck with that Brexit thing, and winning like you've never won before.
Looks like its hard for the british to come to terms with the fact that they are not a superpower anymore that can do whatever they want to Ireland. We know our place in the world, maybe britain should re-learn theirs.
You know you are insecure when you resort to the typical british patronising insults towards Ireland. Nowadays we look at the state of the UK and wonder what the fuck are they at over there. Just look at the possible trade deal with the US. Goodbye NHS as you know it, and Scotland and NI.
Must be weird seeing a country that britain practically decimated for centuries finally start to prosper with freedom. Good luck with Brexit, we will stick with our historic allies in the mainland like we always wanted.
Ps. btw you just need to look at NI to see what Ireland would still be like under the british, plenty of backwards freaks up there thanks to britain planting them there to steal land off the natives. Ironically the most laughable wastes of oxygen on the whole island nowadays. Please keep paying their benefits we beg. That is if you even know what NI is. Lots of brits dont conveniantly.
Trust me, the ever increasing EU regulations and endless mass migration will make sure very soon that Irish people are no more!!
lol @ "UK win".
I wonder why Ireland was so backwards.. Couldn't have anything to do with the UK??
As an economist who has such a high opinion of himself, David is very wrong to suggest that Ireland is unique in people building their wealth and retirement around the value of their houses. That seems more universal than unique, in much of the western world. Part of the reason there was a global recessions built on the US passing masses of bad paper around the world, that was supposed to finance the dream of home ownership. A dream that include financial independence.
In the US wealth is generated via financial securities, not home values.
Jeez that guy keeps adding uhms and ahhs. It's good to show the person you're listening but every 3 seconds is weird.
Brilliant " Britain is having this weird nervous breakdown " etc. 😄 tax idle landlords good luck with that one 👍."you can't do stupid things indefinitely " just watch them.99
Father Harry bohan r h o
Every opinion is just an opinion. ie. a load of bull
some bluffer 😀
Oh dear - sweeping statements that pass for analysis.
classic McWilliams
Does RUclips think it's being smart sticking these bullshit establishment commentators into my suggested videos?
What he is actually saying is:
- You buy a house for 100K
- Over time it rises to 300K, but most of that is not yours., it comes from the fact that you located near a train line, and other people who arrived later have to walk past your place to get to the train. They would rather not walk so far, and as a result would pay more to live were you do (times every other thing that is not down to you, and is driving up your home value).
- The margin that is created by society's late comers is society's and should be captured in taxation, not in home equity.
- Therefore your taxes should rise to an amount that would drive you house value back down near to it's original price of 100K. That is a hell of a lot of tax.
- Since there are plenty of people who are income lean and property fat, many will have to sell up and hit the road, as the taxes are high, and as David points out, not based on anything particular to you, just what other people are doing and valuing around you. So there isn't any reason why your income would rise just because your taxes have risen.
- Or he could be talking up a storm about how bright he is while not actually intending taxation quite that high, in which case it will probably still drive a lot of people out, but not actually control ballooning prices.
Not sure where the win is in this, other than for the tax man.
Ireland's cities should follow Singapore!! There city lands belongs to Gov. Private developers can't own land!Flats are built for affordable rents by Gov. to house the people!! Its one way to fix the crisis!!
What he is actually saying is:
- You buy a house for 100K
- Over time it rises to 300K, but most of that is not yours., it comes from the fact that you located near a train line, and other people who arrived later have to walk past your place to get to the train. They would rather not walk so far, and as a result would pay more to live were you do (times every other thing that is not down to you, and is driving up your home value).
- The margin that is created by society's late comers is society's and should be captured in taxation, not in home equity.
- Therefore your taxes should rise to an amount that would drive you house value back down near to it's original price of 100K. That is a hell of a lot of tax.
- Since there are plenty of people who are income lean and property fat, many will have to sell up and hit the road, as the taxes are high, and as David points out, not based on anything particular to you, just what other people are doing and valuing around you. So there isn't any reason why your income would rise just because your taxes have risen.
- Or he could be talking up a storm about how bright he is while not actually intending taxation quite that high, in which case it will probably still drive a lot of people out, but not actually control ballooning prices.
Not sure where the win is in this, other than for the tax man.