What is the ultimate goal of modern economics? Who gets benefit from the reform of Housing Lease Law 1998?
Dr Motohiro Adachi (Visiting Scholar, Hughes Hall)
Saturday, 24 January, 1998; 7:00-9:00pm
Seminar room, Darwin College
It has been a big topic among economists weather or not Housing Lease Law should be abolished. The current Housing Lease Law enforced the land owner to renew their contract terms with tenants when it is expired. On top of it, the rate of increase in the rent for the privately rented housing supply on the private rented sector, specifically for the rented housing with a relatively larger space and should be removed. However any law has specific historical grounds. When we look at the phenomena from only economic efficiency terms, sometimes it ignores some other positive aspects. For example, in the above case, there is a possibility that the people who is in a relatively weak(poor) position would be suffered because of the deregulation of the Housing Lease Law because these poor people could be thrown away from the rented housing when the tenancy contract terms expired. In short, the Housing Lease Law has played a role as a welfare term so far. The presentation will look at both positive and negative aspects of Housing Lease Law Reform. The experience from the U.K (1988 reform) will also be examined.