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Treat houses as assets rather than homes and this is what happens | Jonn Elledge

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Very scary article.


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Again this us just the tip of the iceberg. More is so like this to surface in the very near future.. Mark my words..


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There is one word that is behind this housing problem and it is corruption.

 

There is no reason why government and private sector companies could not have built the required number of houses commensurate with the population. The lack of housing means that landlords can charge high rents and it costs taxpayers a fortune in housing benefits. Both government and landlords/land owners are in corrupt relationships, only allowing a relatively small number of new homes to be built, so that they can maintain income from high rents.

 

I am not talking about the small buy to let landlords, but the large companies and very wealthy who own large numbers of rented properties. They hold huge influence over government parties, probably through political donations and social connections with many leading politicians.

 

There is also the relationship between government and the Banks/investment companies who have loan or debt interest in property. If a large number of new homes were built, it would impact on the value of assets held.

 

All government does is tinker around with housing related policies, trying to keep enough people happy. If they really wanted to build millions of houses there is nothing stopping them. Government is able to borrow money at an historic low, there are enough workers to build houses, there is enough land and there is plenty of demand. Government could offer these homes on a rent or rent to buy basis and they would be assets. There should also be a reduction in rents due to more supply and a saving in terms of housing benefits.


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Just 600m from where I live there has been a new build of a small estate by a social housing landlord. None of them are for sale none of them.

 

Brand new with all the mods and cons. Plus a 6'metal gate too, for the front facing ground level properties.

 

Which makes it look like something from an inner city ghetto. Then 200' across the road is a former office block. Guess what it's going to be full of Luxury flats. Then less than 1/2 a mile away we have 3 or 4 other office blocks being converted to you guessed it more luxury flats.

 

The new build has been done by the Guineas project.. The rebuilds done by property development companies..


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I cant understand why local authorities / housing associations cannot buy up those houses that have been repossessed and put them in their rental stock - they are usually auctioned off well below market value and would probably cost far to less to put back into use than building a new property.

 

I also don't understand why development companies aren't forced to demolish and rebuild on extremely run down areas - but apparently it is far cheaper to purchase huge tracts of green belt land and build on that. Of course no social housing or low cost mortgage property would be allowed on something like that !


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I don't think parliament has legislated for LA's to use resources or borrow money to buy homes to let out. I seem to remember talk of this, but the Tories did not want to see LA's doing this.

 

I am strongly in favour of regional government being formed, replacing a lot that is done in London. Delegate power and money into the regions, so they can take the action needed in their own areas.


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