Jump to content
House Price Crash Forum
Sign in to follow this  
rollover

Right-To-Buy Could Be Extended To Up To 2.5M Housing Association Tenants

Recommended Posts

Millions of working class families will be given the chance to buy their own homes under radical Tory plans to extend Margaret Thatcher's flagship housing policy. Under proposals being considered by Downing Street, the right-to-buy scheme - currently restricted to families in council owned properties - will be extended to up to 2.5million housing association tenants.

http://www.dailymail.co.uk/news/article-3006337/Millions-working-families-given-chance-home-radical-plan-extend-Thatcher-s-right-buy.html


Tories to expand Margaret Thatcher's 'right to buy' social housing sell-off to buy election votes

Panicking Tories hope to woo working-class voters by selling off millions of housing association-owned homes. New polls show George Osborne’s austerity Budget failed to give the Tories the boost they need to stay in power beyond May 7.

Edited by rollover

Share this post


Link to post
Share on other sites

Ignore the rights and wrongs of this for a moment (I think it's unfair), what effect will this have on house prices?

Share this post


Link to post
Share on other sites

Well, as a council tenant I think this is pretty funny.

To think that a few year ago we were asked to vote on staying with the council or transferring to a Housing Association.

Many voted to transfer.

Now if the want to RTB they`ll be offered £16,000 (or thereabouts) whereas council tenants can get £72,000 if outside London.

Ho hum....

Share this post


Link to post
Share on other sites

Comments:

Jim, Omaha, 7 hours ago

The Tories are desperately scrambling to feed the housing price bubble because once they stop and the bubble bursts the British economy will hit the skids. It's a giant Ponzi scheme that will not end well.

Share this post


Link to post
Share on other sites

hmm, i know that comments on the dm have to be taken with a pinch of salt, as do the stories themselves 80% of the time, but i just did a quick skim thru them, and im really surprised at how many just f'it right off and see straight thru it as a vote puller. Usually its just a load of ukipers saying 'vote ukip' to stop this or that happening.

+1 to dm commentors - i never thought id see the day.

Share this post


Link to post
Share on other sites

Whatever the rights and wrongs (and there are many wrongs) about this, slightly odd that posters on a website who subscribe to the view that houses are overpriced, now feel wronged at the thought that houses might be sold 'at below market value.'

From what I can see I could buy mine for 50% off the current 'bubble value' which means its almost priced sanely.

However yes, the Tories are out to destroy social housing and they know a lot of the stock will end up in BTL hands in a few years.

Edited by RentierParadisio

Share this post


Link to post
Share on other sites
Guest Jemmy Button

If you rent from a housing association you're already in a privileged position.

What about the 3.8 million households that rent privately?

Where's my free house?

Me and thee are basically screwed. (Four Yorkshireman " a housing association house? I'd love one of those....all I had was a TENT in a BTL's garden which I had to pay rent on.)

Share this post


Link to post
Share on other sites

Whatever the rights and wrongs (and there are many wrongs) about this, slightly odd that posters on a website who subscribe to the view that houses are overpriced, now feel wronged at the thought that houses might be sold 'at below market value.'

From what I can see I could buy mine for 50% off the current 'bubble value' which means its almost priced sanely.

However yes, the Tories are out to destroy social housing and they know a lot of the stock will end up in BTL hands in a few years.

I'm aggrieved at the prospect of another chunk of social housing being flipped into the private sector for quick returns and then never replaced. I'm aggrieved at the prospect of UK rentiers and banksters getting a further extension to their murderous Ponzi scheme. I'm aggrieved at the prospect of Cameron and Osborne being returned to govt after five long years of treachery and deceit.

Share this post


Link to post
Share on other sites

I'm aggrieved at the prospect of another chunk of social housing being flipped into the private sector for quick returns and then never replaced. I'm aggrieved at the prospect of UK rentiers and banksters getting a further extension to their murderous Ponzi scheme. I'm aggrieved at the prospect of Cameron and Osborne being returned to govt after five long years of treachery and deceit.

I am too, but if they are going to tip £30k of 'virtual equity' in my direction (for once) with the stick of above inflation rent rises, and the prospect of being chucked out anyway at some stage, it may be a hand I have to play.

Share this post


Link to post
Share on other sites

private renter here, guess I can go **** myself as im not special enough to rent subsidised secure tenure housing.

as ever government picking winners and losers in the housing lottery via tax payers money.

Share this post


Link to post
Share on other sites

I think the ending of social housing will be a disaster for the UK, but then again the overpriced poor quality, and insecure private rentier hell that will be unleashed might just finally get the revolt we need to get rid of Labour/Tory (and their idle rentier parasites sponsors) for good.

Was reading some of the eulogies to Lee Kuan Yew's successful policies from the right, but over 80% of Singaporean's live in public housing (created by the British originally) and one suspects that was a major aspect of its success.

Edited by RentierParadisio

Share this post


Link to post
Share on other sites

To me it just shows the complete absence of original ideas in Camerons government

Virtually every policy leading into the General Election is a retread of something done in the 1980s.

The recent announcement on tightening the rule on Union Ballots was in the same vein.

The Tories are like a stuck record and Labour are not much better.

Both have visions of the future that are about 25 years out of date

Edited by stormymonday_2011

Share this post


Link to post
Share on other sites

Its just trying to do what they did in before, load up the economy with more private debt to allow them to reduce the rate at which public debt is growing.

The MSM ignore the former and obsess over the latter, so osbourne can say 'i've reduced the deficit, the media will lap it up' and nothing will change.

When thats done he'll have to find something else to sell. The roads maybe.

Share this post


Link to post
Share on other sites

I've always had a sneaking suspicion that the housing associations might be up shit creek without a paddle. Some of them are massive, e.g. Places for people. Highly leveraged, all their assets in property...

Could the government just walk away if they went bust? Tenants turfed out etc. Doesn't sound like good politics.

Could just be another mechanism to spread the risks associated with an expected crash?

Share this post


Link to post
Share on other sites

The one bed housing association flat I live in in London would cost over £450k in today's market (comparable sales). Even if I could, I wouldn't buy my place as even with 30% off, it would still be 40% over priced.

Share this post


Link to post
Share on other sites

The one bed housing association flat I live in in London would cost over £450k in today's market (comparable sales). Even if I could, I wouldn't buy my place as even with 30% off, it would still be 40% over priced.

My point exactly

Share this post


Link to post
Share on other sites

To me it just shows the complete absence of original ideas in Camerons government

Virtually every policy leading into the General Election is a retread of something done in the 1980s.

The recent announcement on tightening the rule on Union Ballots was in the same vein.

The Tories are like a stuck record and Labour are not much better.

Both have visions of the future that are about 25 years out of date

You forgot to add YOP scheme ,self unemployment with working tax credits is the new version

They should be called the Daveja VU party

Share this post


Link to post
Share on other sites

Its just trying to do what they did in before, load up the economy with more private debt to allow them to reduce the rate at which public debt is growing.

The MSM ignore the former and obsess over the latter, so osbourne can say 'i've reduced the deficit, the media will lap it up' and nothing will change.

When thats done he'll have to find something else to sell. The roads maybe.

Thats the game debt needs to be ever expanding the gov`s credit card is now maxt out so the expansion of debt has to be shifted to the private sector ,looking at mortgage approvals i guess it must be contracting , I would also guess MMR has thrown a massive spanner in the works, add this to the fact the young just see housing so far out of reach due to price they have given,Dave&co a bit of a problem

It`s no coincidence that the discount offered is just enough to enable the buyer to obtain a no/very little money down mortgage

In other news ( ht Rollover)

Edited by long time lurking

Share this post


Link to post
Share on other sites

I've always had a sneaking suspicion that the housing associations might be up shit creek without a paddle. Some of them are massive, e.g. Places for people. Highly leveraged, all their assets in property...

Could the government just walk away if they went bust? Tenants turfed out etc. Doesn't sound like good politics.

Could just be another mechanism to spread the risks associated with an expected crash?

I think you may have hit the nail on the head.

Share this post


Link to post
Share on other sites

A more radical plan advanced by Duncan Smith, to simply give away housing association properties to those who have worked for a year, has been ditched.

The true value of housing association properties.

Share this post


Link to post
Share on other sites

I've always had a sneaking suspicion that the housing associations might be up shit creek without a paddle. Some of them are massive, e.g. Places for people. Highly leveraged, all their assets in property...

Could the government just walk away if they went bust? Tenants turfed out etc. Doesn't sound like good politics.

Could just be another mechanism to spread the risks associated with an expected crash?

I think the key thing I took from the original article is this potential of RTB for HA is only applicable for properties acquired by HA after 1997. The home I live in was acquired by my HA back in 1984. I can guarantee you it has paid for its upkeep from the (non-profit) rent extracted from it over the 30+ years its been with my HA plus more.

Basically, my HA is doing what F***KING lazy governments/councils should have been doing for the last 30+ years.

A revolution is all that's left for the young adults of today, when they eventually wake up to how shafted they have been, it seriously is!

Share this post


Link to post
Share on other sites

I think the key thing I took from the original article is this potential of RTB for HA is only applicable for properties acquired by HA after 1997. The home I live in was acquired by my HA back in 1984. I can guarantee you it has paid for its upkeep from the (non-profit) rent extracted from it over the 30+ years its been with my HA plus more.

Basically, my HA is doing what F***KING lazy governments/councils should have been doing for the last 30+ years.

A revolution is all that's left for the young adults of today, when they eventually wake up to how shafted they have been, it seriously is!

Couldn't agree more. But they won't wake up. They seem to fall for every 'rentier' con going.

We could fix a lot of problems in this country with a decent public/social housing sector in the UK. It doesn't really matter how 'inefficient' or 'jobsworthy'' etc Councils/HA's are, cos the alternative is the so called 'the private sector' and we really can't afford that.

When compare the sheer cost of Housing benefit being thrown at private rentiers, and the low quality shit they provide, social housing has been the bargain of the century.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   32 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.