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Realistbear

H B O S To Invest In Social Housing

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http://www.telegraph.co.uk/money/main.jhtm...6/cnhbos106.xml

HBOS homes in on £1bn 'social' deals
By Ben Harrington
Last Updated: 12:49am BST 06/08/2007
HBOS is poised to buy more than £1bn worth of social housing businesses as the banking group looks to cash in on Gordon Brown's new "national priority".
It is understood that Bank of Scotland Integrated Finance, a subsidiary of Halifax-owner HBOS, agreed over the weekend to acquire a significant stake in social housing maintenance company Apollo Group. The bank is also believed to be a frontrunner in the final round of an auction to take a major holding in rival social housing business Keepmoat.

And why do we need growth in social housing? In a miracle economy this was not supposed to have happened. Brown has created a new underclass called the "priced out" which includes a very large segment of the population. Could he be turning the clock back to the bad old days of socialism where ownership of homes was in the hands of the state and only the privileged could afford a place of their own? It certainly is looking that way. Brown--the stealth socialist?

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http://property.timesonline.co.uk/tol/life...icle2204082.ece

About 700,000 people in London are on the waiting list for social housing,
57 per cent more than five years ago
. The federation says that the Prime Minister’s recently announced goal of three million new homes by 2020 is not enough. The number of new households formed by then will be 3.9 million.
The influx of foreign residents has put the most pressure on London – a situation that is likely to worsen with the 2012 Olympics. The estate agents Savills estimates that London is home to 16.7 per cent of Europe’s super-rich....../
The average national house price of £181,039 is
9.3 times average earnings
.
Last week interest rates were held at 5.75 per cent but many experts expect the base rate to be lifted to 6 per cent in an attempt to calm inflation.

When Great Crash I hit the multiple was around 4???

:o

Edited by Realistbear

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I have been thinking for a while that if banks are forced to repossess very large numbers of properties they will not be able or allowed to offload them on to the market without fear of crashing it. It would make sense for banks to effectively become large social housing landlords via repossession if housing became undervalued. The former owners would be allowed to stay in their property, pay an inflated rent and the bank would continue to count the house as an asset on its balance sheet instead of the orignal debt.

Perhaps the HBOS move does make sense both for them and the wider economy.

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hold on a minute - this is a move for maintenance companies, not the housing itself.

Yes but to manage a very lare estate of repossessed houses you need an already established maintenance company. Getting loads of repossessed hosues is going to be the easy part. Managing them thereafter is the difficult bit.

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i give you a life lesson,

when youre in the dole q next moaning about house prices think of me sitting on my estate going through my bank statements with a glass of pimms

thinking about all the stress i have, and if it were not for me you lot would be in council house slums, yes the rent may be cheaper but do you really want the economie to go down my dear fellow.

i think not how would you be able to sit in the pub all day

at the end of the day when i injherited my fathers estate i didnt sit around lapping up luxuary no i went out and bought houses for you lazy lot to reside in, i have the right to be respectedeevn if i cant spell, why dont you just get a better job and stop moaning about houses all the time.

youre all possesed, whats wrong with renting, its been good for me i rented a small 4 bed anex on my fathers estate, albeit at a discount but i had no mantenance to do whats so ever.

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i give you a life lesson,

when youre in the dole q next moaning about house prices think of me sitting on my estate going through my bank statements with a glass of pimms

thinking about all the stress i have, and if it were not for me you lot would be in council house slums, yes the rent may be cheaper but do you really want the economie to go down my dear fellow.

i think not how would you be able to sit in the pub all day

at the end of the day when i injherited my fathers estate i didnt sit around lapping up luxuary no i went out and bought houses for you lazy lot to reside in, i have the right to be respectedeevn if i cant spell, why dont you just get a better job and stop moaning about houses all the time.

youre all possesed, whats wrong with renting, its been good for me i rented a small 4 bed anex on my fathers estate, albeit at a discount but i had no mantenance to do whats so ever.

Do we have a moderator to get rid of this joker? I like a laugh but this guy is just infecting the forum with this low-brow horsheshit.

Please mate, why not just fckoff? Honestly, if you were funny it would be different but you get in the way. Please.

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Do we have a moderator to get rid of this joker? I like a laugh but this guy is just infecting the forum with this low-brow horsheshit.

Please mate, why not just fckoff? Honestly, if you were funny it would be different but you get in the way. Please.

Reported.

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i give you a life lesson,

when youre in the dole q next moaning about house prices think of me sitting on my estate going through my bank statements with a glass of pimms

thinking about all the stress i have, and if it were not for me you lot would be in council house slums, yes the rent may be cheaper but do you really want the economie to go down my dear fellow.

i think not how would you be able to sit in the pub all day

at the end of the day when i injherited my fathers estate i didnt sit around lapping up luxuary no i went out and bought houses for you lazy lot to reside in, i have the right to be respectedeevn if i cant spell, why dont you just get a better job and stop moaning about houses all the time.

youre all possesed, whats wrong with renting, its been good for me i rented a small 4 bed anex on my fathers estate, albeit at a discount but i had no mantenance to do whats so ever.

Is this generated by some automated process? The same post is on numerous threads. Time for a ban?

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Guest X-QUORK

i give you a life lesson,

when youre in the dole q next moaning about house prices think of me sitting on my estate going through my bank statements with a glass of pimms

thinking about all the stress i have, and if it were not for me you lot would be in council house slums, yes the rent may be cheaper but do you really want the economie to go down my dear fellow.

i think not how would you be able to sit in the pub all day

at the end of the day when i injherited my fathers estate i didnt sit around lapping up luxuary no i went out and bought houses for you lazy lot to reside in, i have the right to be respectedeevn if i cant spell, why dont you just get a better job and stop moaning about houses all the time.

youre all possesed, whats wrong with renting, its been good for me i rented a small 4 bed anex on my fathers estate, albeit at a discount but i had no mantenance to do whats so ever.

Hey numpty, it's against the rules to repeat post in a number of different threads. You've been reported, so I'd start playing by the rules if I were you Mr Einstein.

Edited by X-QUORK

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