Sir, – There is no reason why the huge increase in the value of a privately owned asset arising from a public decision, the rezoning of land, should accrue to private and not to public benefit.
The Kenny report told us that 50 years ago.
Yet still our young people are taking out 20- or 30-year mortgages to pay the huge premium attributable to this publicly created change in the status and value of the land on which their homes are built.
Why? – Yours, etc,