Thursday, Oct 23, 2008
Builder bail out by another name!
Public Finance Magazine: RSLs rush to snap up private homes for social housing
A third of the £200m set aside by the government to buy unwanted private homes has been allocated to housing associations in just three months. Since July, more than 2,000 homes built by developers before the mortgage crisis have been snapped up by associations using £70m of public funds, it was announced this week.***by the way Registered Social Landlord (RSL)
Posted by whostolemyendowment @ 05:19 PM (243 views) Add Comment
11 Comments
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1. L Mckay said...
You have to feel sorry for the poor sods who have actually bought a home on these estates, they have unwittingly moved onto a council estate.
Houses on the latest new build estates near me are left mostly unsold. The few occupants are suffering a spate of crime such as burglary as criminals are now targeting these 'ghost towns'
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3. Pete said...
This is going to go wonders for the house prices in these developments, not being a snob but if 2/3 of the new estate you have just bought into ends up being filled with council tennents is not going to help prices is it?
4. peter_2008 said...
£70 million for 2,000 houses? That's £35,000 per house. So the builders CAN actually sell a house for less than £50,000.
So why can't they just sell those houses to people who need them? Oh, I know, it is essential to starve off the market. If they sell them to social housing, a few years later they can start another right to buy ponzi scheme!!
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