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Proposal for Turning London’s Housing Benefit Bill into Affordable Housing

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Here's how we can translate London’s housing benefit bill into affordable housing

http://www.citymetric.com/politics/heres-how-we-can-translate-london-s-housing-benefit-bill-affordable-housing-2467

Also... Not sure this report from Feb got a mention on hpc 

THE HOMES LONDON NEEDS Part 2 Mass-delivery of Manufactured Homes for Rent

https://policyexchange.org.uk/wp-content/uploads/2016/09/2016-02-16-the-homes-london-needs-essay-2.pdf

 

 

 

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We estimate that guaranteeing an annual £2.4bn of housing benefit in this way could fund the construction of 250,000 affordable homes over ten years, each of which would be let for 45 per cent less than average market rents.

The guarantee would need to be rock-solid to get the best interest rates, and would be in place for 60 years, rising in line with the consumer price index each year. Initially, it would cost government nothing more than their existing expenditure on housing benefit; over time, however, if rents continued to rise faster than inflation, it would actually save money year on year.

 

 

45% less than average market rents....

what will happen to those amateur, over leveraged landlords?

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Hmm,

Fck building houses for doleys in London.

One, stop all benefits non UK nationals in London.

Two, cap housing benefit at 400/month in London.

Bascially, you need to reform welfare before worrying about building social housing in London.

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1 hour ago, spyguy said:

Hmm,

Fck building houses for doleys in London.

One, stop all benefits non UK nationals in London.

Two, cap housing benefit at 400/month in London.

Bascially, you need to reform welfare before worrying about building social housing in London.

Good points, if we are going to let people get off the plane and get given a house then we even if we turn every park in London into a high rise we will never get enough.

About non UK nationals, it is quite easy to get a passport so that will not help enough.

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2 minutes ago, Grumpysod said:

If only Corbyn would drop his silly policy on getting rid of Trident, that is never going to be accepted by the electorate for a few more decades at least and convince the electorate he won't flood the UK with immigrants and start showing a little sympathy for the real victims in the UK the average earner who takes responsibility for his/her own life, then I can really see some good ideas coming from Corbyn, and I am sure others do.

If he can drive the UK scum landlords into the filth they came from and give renters a better option, that alone would make him friends.

But he will flood the UK with immigrants.

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6 minutes ago, iamnumerate said:

But he will flood the UK with immigrants.

This is the only thing what puts me off voting for him.  I am all for burning it down and starting again but I think a multicultural paradise is not achievable. 

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10 minutes ago, doomed said:

This is the only thing what puts me off voting for him.  I am all for burning it down and starting again but I think a multicultural paradise is not achievable. 

The IRA supporting, the desire to emulate Venezuela etc aren't a problem?  Things can get worse (ask any Venezuelan) and he could make the condems and New Labour look great.

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The problem is with this idea of "45% below market rents". Either we build enough new houses to meet demand, in which case merket rents will fall (presumably by 45%), or you still have a system of arbitrarily picking winners and losers, some of whom get what is effectively state-subsidised housing, and some of whom can effectively go **** themselves.

The concept of 'affordable housing' is inherently stupid, and I struggle to take anyone who includes it in an argument seriously.

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On 9/27/2016 at 8:16 AM, Grumpysod said:

The question I have been asking for a good few years now is how many houses does £27 Billion buy outright, and that is only one years housing benefit bill, here is a clue, it's a lot.

It wont buy a vast number of houses but it is enough to build a lot of them. The gov could simply grant planning permission to otherwise cheap (relatively speaking) land and build on it. When building at scale houses cost in the range of 30 - 60k each. At say 50k a pop, half million houses would cost 25bn. At london level HB rates they would recoup the investment in just a few years.

Edited by goldbug9999

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