Jump to content
House Price Crash Forum
Sign in to follow this  
Mikhail Liebenstein

May's 2nd Manifesto U-Turn, this time social housing

Recommended Posts

3 minutes ago, Mikhail Liebenstein said:

http://www.independent.co.uk/news/uk/politics/tories-housing-policy-u-turn-affordable-homes-general-election-2017-manifesto-a7769866.html

 

Apparently the promised social housing will be less affordable than stated in the manifesto.

I have seen some of these "affordable" (market rate less than 20%) housing adverts.  Rare, and don't look like a particularly good value.

If it has no parking and is in a crappy location, then 80% of the average market rent is not affordable but is the actual market rate for the below average accommodation.

Share this post


Link to post
Share on other sites
3 hours ago, Bear Hug said:

I have seen some of these "affordable" (market rate less than 20%) housing adverts.  Rare, and don't look like a particularly good value.

If it has no parking and is in a crappy location, then 80% of the average market rent is not affordable but is the actual market rate for the below average accommodation.

Mortgage loan on the portion bought, rent on the portion borrowed. Hardly called affordable, as the average salary doesn't allow the part-owner, part-tenant to save much money to purchase further shares in the property... and trapped in negative equity if the value of the property drops, and can be evicted if they are unable to pay rent e.g. job loss.  

Share this post


Link to post
Share on other sites

Its not really a u turn - just a clarification. When a politician  refers to affordable housing it's a question of affordable for who - people earning up to £80k - £90k in London - are now eligible for affordable housing via shared ownership.

If we are having to provide subsidised housing to people earning triple the average wage it just highlights what a total joke the term is.

Edited by MARTINX9

Share this post


Link to post
Share on other sites
7 hours ago, Bear Hug said:

I have seen some of these "affordable" (market rate less than 20%) housing adverts.  Rare, and don't look like a particularly good value.

If it has no parking and is in a crappy location, then 80% of the average market rent is not affordable but is the actual market rate for the below average accommodation.

The 20% is extra developer margin.

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.

  • Next General Election   90 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    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.