I'd like to just see a return to homesteading period. If a property goes unused / unoccupied for a year, anyone can move in. No more land squatting to drive up real estate prices and use it as a store of wealth.
Yes, this kills real estate as a long term investment. No, that is a good thing, we should collectively much rather see capital invested in the stock market rather than being thrown into precious metals or property as a store of value.
Except I'm not - there already exist squatters rights to occupy someones elses property and eventually claim it their own if they can avoid detection long enough.
All that takes is the minimum effort to police the property you own to insure nobody is squatting. What I'm saying is that unconditionally whether or not someone is illegally occupying your property you only have a fixed amount of time to make use of it before it effectively becomes unclaimed land again.
My recollection of squatter's rights is that the owner has to know you are there, and do nothing for <X> years. If you are hiding, you can't lay claim.
"Land Registry will decide if your application is valid and will let the property owner know. The owner has 65 days to object - your application will usually be automatically rejected if they do."
So basically you'll only get to stay if the property is effectively abandoned.
Yes, this kills real estate as a long term investment. No, that is a good thing, we should collectively much rather see capital invested in the stock market rather than being thrown into precious metals or property as a store of value.