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Public Sector Btl Parasites

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Housing association chief on £400,000 a year

The head of a housing association is being paid almost £400,000 a year, official figures disclosed last night.

More than 50 executives at housing associations – which provide council houses at taxpayers’ expense – earn more than the Prime Minister.

Based on figures from last year, the highest paid executive at a housing association was John Belcher, at £391,000. He was chief executive of Anchor, which provides affordable homes for the elderly. David Cowans, at Places for People, earned £297,000.

At least six executives, including Keith Exford at Affinity Sutton; Mark Rogers at Circle Anglia and David Bennett at Sanctuary; and David Montague at London & Quadrant, earned more than £200,000, it has emerged.

The figures have been uncovered by Grant Shapps, the Housing Minister, who has indicated that the pay packages are unacceptable.

Although independent, housing associations are largely funded by the Government, receiving billions of pounds of taxpayers’ money a year to provide social housing for poorer Britons.

They also receive income from their tenants in the form of housing benefit.

[more]

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Just imagine, if it weren't for these parasites inflating the market with tax payers money instead of those fraudulent and exploitative 50% shared ownership deals buyers could simply buy properties 100% outright for the same money. Unfortunately that leaves no room for unwanted middlemen paying themselves £400k a year to "help" poor people.

Edited by sillybear2

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which provide council houses at taxpayers’ expense

As someone else pointed out, this is simply not true.

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Guest sillybear2

By all accounts, we should be rioting in the streets :huh:

Mr Shapps said: “I can see no reason why housing charities who themselves receive public funds should be exempt from this important process.”

:blink:

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Guest sillybear2

As someone else pointed out, this is simply not true.

It is true, on many levels, these HA's directly live off housing benefits, there's also all sorts of government grants available from Decent Homes initiatives to pay for renovation, and many acquired their portfolios from local authorities for nominal amounts, like £1 per home. They also got a dollop of government money to purchase half the unwanted new build stock over the past year or so. HA's also regularly get bailed out by government when they get run into the ground.

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It is true, on many levels, these HA's directly live off housing benefits, there's also all sorts of government grants available from Decent Homes initiatives to pay for renovation, and many acquired their portfolios from local authorities for nominal amounts, like £1 per home. They also got a dollop of government money to purchase half the unwanted new build stock over the past year or so. HA's also regularly get bailed out by government when they get run into the ground.

Doesn't apply to the housing associations I have been involved with in London. Many are longstanding and own their own properties and are self financing. Many others are shortlife housing associations who also do not receive grants. I did up my current flat myself at my cost, and I am now doing another self build project.

I would also take issue with the assumption that HA tenants are generally on benefits, this again does not tally with my experience in London. Most can afford in fact to be freelance or do lower paid jobs because the cost of their housing is not astronomical, they are more likely to have a job.

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Most can afford in fact to be freelance or do lower paid jobs because the cost of their housing is not astronomical

Good for them :lol:

I'd like to have a more flexible role here at work, maybe I should ask about just doing mornings and see if the council will pay half my rent in return.

Edited by pete.hpc

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Good for them :lol:

I'd like to have a more flexible role here at work, maybe I should ask about just doing mornings and see if the council will pay half my rent in return.

The low rent is because these associations in my experience are not BTL parasites! They are well run with an economy of scale and properties bought many many years ago, and a genuine remit to provide housing at a normal cost, in line with lower wages! My rent is not subsidised.

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Guest sillybear2

The low rent is because these associations in my experience are not BTL parasites! They are well run with an economy of scale and properties bought many many years ago, and a genuine remit to provide housing at a normal cost, in line with lower wages! My rent is not subsidised.

Though you may well be subsidising somebodies £400k salary <_<

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The low rent is because these associations in my experience are not BTL parasites! They are well run with an economy of scale and properties bought many many years ago, and a genuine remit to provide housing at a normal cost, in line with lower wages! My rent is not subsidised.

o contraire but if it is not at a market rate then this constitutes sub-optimal returns, someone else is covering the difference, aka the taxpayer

having said that of course the market rate is also debased by benefits but that is a different topic

robbing peter to pay paul

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o contraire but if it is not at a market rate then this constitutes sub-optimal returns, someone else is covering the difference, aka the taxpayer

having said that of course the market rate is also debased by benefits but that is a different topic

robbing peter to pay paul

No-one else is covering the difference, as there isn't one!

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Guest sillybear2

No-one else is covering the difference, as there isn't one!

If they're not collecting a proper 'market' rent that means there is an opportunity cost, so less capital to reinvest in renovations or new properties, something bad will happen once an accounting shark takes over management.

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No-one else is covering the difference, as there isn't one!

as sillybear2 writes - opportunity cost

medium-term - this means they can be undercut by leaner more market-responsive rivals...unless state-sponsorship props them up - in which case leaner rivals don't bother trying to play in a loadeds unfair game, and we have an inefficient market - this may actually push UP rents by disincentivising long term institutional investment that doesn't have a H.A.'s state support. Only other agents would then be amateur speculators looking to flip, evade tax, or money-launder.

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Doesn't apply to the housing associations I have been involved with in London. Many are longstanding and own their own properties and are self financing. Many others are shortlife housing associations who also do not receive grants. I did up my current flat myself at my cost, and I am now doing another self build project.

I would also take issue with the assumption that HA tenants are generally on benefits, this again does not tally with my experience in London. Most can afford in fact to be freelance or do lower paid jobs because the cost of their housing is not astronomical, they are more likely to have a job.

There are housing associations supported by the Government.(See also: here) The latter are something akin to quangos, just as the myriad of fake charities that get their funding from taxpayers are.

Edited by jareth

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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