dubsie Posted July 29, 2010 Share Posted July 29, 2010 With funding set to fall and the prospect of cancelled housing projects how long will it be before we see some large housing associations collapse. Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted July 29, 2010 Share Posted July 29, 2010 With funding set to fall and the prospect of cancelled housing projects how long will it be before we see some large housing associations collapse. Housing association are self funded. Why would they fail? Quote Link to comment Share on other sites More sharing options...
Mega Posted July 29, 2010 Share Posted July 29, 2010 Many will be kept going, some whom bought normal not social houes will be told to sell! Mike Quote Link to comment Share on other sites More sharing options...
Live Peasant Posted July 29, 2010 Share Posted July 29, 2010 Housing association are self funded. Why would they fail? Because their business model relies on being able to pump the government for funding whilst at the same time raising rents to 'private' levels and not realising that they are the trend. Quote Link to comment Share on other sites More sharing options...
council dweller Posted July 29, 2010 Share Posted July 29, 2010 With funding set to fall and the prospect of cancelled housing projects how long will it be before we see some large housing associations collapse. If they're allowed to sell off properties as they become vacant they should be able to survive for a few years. The days of pushing rents up 7 or 8% per year and getting this covered by HB are over though. Borrowing more and more on increasing property values also looks a bit unlikely now. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted July 29, 2010 Share Posted July 29, 2010 A lot of the London auctions are packed with Housing Association properties. The exodus is already happening. Quote Link to comment Share on other sites More sharing options...
efdemin Posted July 29, 2010 Share Posted July 29, 2010 Many will be kept going, some whom bought normal not social houes will be told to sell! Mike Que? Who will tell them to sell and how do they have that power over them? Quote Link to comment Share on other sites More sharing options...
council dweller Posted July 29, 2010 Share Posted July 29, 2010 A lot of the London auctions are packed with Housing Association properties. The exodus is already happening. Don't they usually make excuses for this though....like saying that the cost of bringing these particular properties up the decent homes level is too high? More like they need to service enormous loans and pay fat exec. salaries. Quote Link to comment Share on other sites More sharing options...
council dweller Posted July 29, 2010 Share Posted July 29, 2010 Que? Who will tell them to sell and how do they have that power over them? I think there was a court ruling last year which said that they were publicly owned....still pretty unclear if you ask me. They certainly like to gobble benefits.. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 29, 2010 Share Posted July 29, 2010 There was a thread on here quite a while ago about housing associations. Quite a number clearly had no real business plan other than property going up in value. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 29, 2010 Share Posted July 29, 2010 A quick google search brought this up. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted July 29, 2010 Share Posted July 29, 2010 Don't they usually make excuses for this though....like saying that the cost of bringing these particular properties up the decent homes level is too high? More like they need to service enormous loans and pay fat exec. salaries. That's my thinking too. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 29, 2010 Share Posted July 29, 2010 Nhf Forecasts House Prices Will Be 20% Higher Than Today By 2014 Nhf Forecasts House Prices Will Fall This Year And Next, year Quote Link to comment Share on other sites More sharing options...
council dweller Posted July 29, 2010 Share Posted July 29, 2010 A quick google search brought this up. Yeah there's someone called 'council dweller' going on and about not wanting to transfer to a Housing Association. Anyway, we won our vote, came as a big shock to the council, massive amounts of propaganda but we said no. Quote Link to comment Share on other sites More sharing options...
efdemin Posted July 29, 2010 Share Posted July 29, 2010 I think there was a court ruling last year which said that they were publicly owned....still pretty unclear if you ask me. They certainly like to gobble benefits.. I was just surprised by what Mega said - i.e. say you bought a 50% share of a HA house but you're not a social tenant, are you at any risk of the HA saying 'clear out, we need to sell this to get some cash'? This is hypothetical, btw. Quote Link to comment Share on other sites More sharing options...
SwampDonkey Posted July 29, 2010 Share Posted July 29, 2010 We do a lot of work for HA and the management guy we deal with is saying they are expecting 25% reduction in income. Could be enough to tip a few over the edge seeing as he also said that 75% of their tenants are on housing benefit which is being dropped to the 30th percentile. He expects big job losses across all the HA. Quote Link to comment Share on other sites More sharing options...
council dweller Posted July 29, 2010 Share Posted July 29, 2010 I was just surprised by what Mega said - i.e. say you bought a 50% share of a HA house but you're not a social tenant, are you at any risk of the HA saying 'clear out, we need to sell this to get some cash'? This is hypothetical, btw. Glad it's hypothetical! I guess you have to check the small print in each case. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 29, 2010 Share Posted July 29, 2010 We do a lot of work for HA and the management guy we deal with is saying they are expecting 25% reduction in income. Could be enough to tip a few over the edge seeing as he also said that 75% of their tenants are on housing benefit which is being dropped to the 30th percentile. He expects big job losses across all the HA. Fantastic management, so they didn't have a plan for if revenue fell for any reason! Quote Link to comment Share on other sites More sharing options...
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