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Cash To Rebuild Sheffield Estate Is Pulled


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#1 interestrateripoff

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Posted 21 June 2011 - 03:42 PM

http://www.thestar.c...ulled_1_3499773

Residents living in 200 Sheffield homes will have to remain in houses previously earmarked for demolition for at least another five years - after the Government pulled funding needed to rebuild the estate.

The admission was made by officials at a public meeting organised by Arbourthorne Tenants’ and Residents’ Association for people living in the area’s remaining flat-roofed ‘5M’ council houses at Arbourthorne Fields, off East Bank Road.

Some 200 of the properties have already been knocked down and work is due to start next month on replacing them with new elderly people’s accommodation and a medical centre, a project which has necessary funding to go ahead.

But the same number of properties are still standing and remain occupied - with Sheffield Council needing £12.5 million to refurbish them or £18m for them to be rebuilt completely. The second option is favoured by the council due to the properties’ poor structural condition.

Funding for the remaining area of Arbourthorne Fields had been promised through the Government’s Housing Market Renewal scheme but the project, which aimed to regenerate rundown neighbourhoods across the country, has been axed.


Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

 

"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."

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New digest on the credit crisis and economy Part2 Part 3

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#2 FTBagain

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Posted 21 June 2011 - 04:35 PM

http://www.thestar.c...ulled_1_3499773



Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.


Yup, more social justice... What people just take it, why? :blink:
It is a truely saddening situation when I find myself hoping for economic hard times, just so I can stand a chance of buying a house for a fair price.

<!--quoteo--><div class='quotetop'>QUOTE</div><div class='quotemain'><!--quotec-->In short although I would certainly say that the market is full of ignorant people, who just happened to be in the right asset class at the right time and have made a lot of money, there is also a calculated and measured nurturing of the economy going on by the mainstream press. The problem is that you can not hold back the numbers forever.<!--QuoteEnd--></div><!--QuoteEEnd-->

#3 Laughing Gnome

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Posted 21 June 2011 - 05:41 PM

http://www.thestar.c...ulled_1_3499773



Once more the cuts are aimed at the lower income levels, the housing stock clearly needs replacing and spending money on this would be a good infrastructure investment. Still giving money to the bankers is a better investment as they generate real wealth driving the economy forward.

+1

#4 RufflesTheGuineaPig

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Posted 21 June 2011 - 07:47 PM

But the same number of properties are still standing and remain occupied - with Sheffield Council needing £12.5 million to refurbish them or £18m for them to be rebuilt completely.


Those will be nice houses... £90,000 a piece.

Given that the build cost (excluding land) of the average new build is £24,000 a unit at the moment.

Or perhaps it's that the developers have a huge profit margin built in. About £10m
It's time to pay the piper. There is no magician who will magic away the debt. Someone is going to have to pay it. Bend over and prepare to make payment.

In this glorious nation of ours, if you work hard and keep your head down for 25 years then you too can aspire to own one-eighth of a one bedroom flat in Manchester.


My mum and day always tell me how important it is to save to buy a house. They should know, it took them nearly 6 months to save for theirs. As teenagers, they bought a 3 bed semi.




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