Tuesday, Jun 17, 2008
The social cost of property porn
BBC News: Families face six year home wait
A family whose home is repossessed may have to wait more than six years before they are permanently rehoused in a two bed home, council leaders have warned. The number of families on social housing waiting lists in England will hit five million by 2010, they claim. They blame a combination of falling house prices, the credit crunch and a lack of affordable homes.
Posted by quiet guy @ 01:22 PM (718 views) Add Comment
6 Comments
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1. confused76 said...
"Although house prices are slowly falling, they are still beyond the reach of many"
This ensures that the house price fall will be deep and long
"We are investing £8bn to provide 70,000 affordable homes a year by 2011, including 45,000 social homes for rent,"
big down pressure on rentals... poor BTL's!!!
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. last_days_of_disco said...
Sounds like housing is going to have to get a lot cheaper. Without the easy credit this problem will solve itself.
4. icarus said...
4,000,00 on social housing waiting lists. That must be the "underlying demand" we keep hearing about that will underpin property prices.
5. taffee said...
lol!
they failed to tell investors the pent up demand was from people who had no money
6. yorkshireman said...
@taffee - In my view, your comment sums up the whole sad affair.