Wednesday, March 28, 2012

NIMBYs see their ‘luxury apartments’ become council flats

Residents fight plans to turn luxury tower blocks into social housing

An emergency meeting has been held between politicians and the Housing Executive over proposals to sell off two apartment blocks in a luxury development for social housing. Residents are objecting to the plans, fearing their homes, many bought at the height of the boom and already in negative equity, could lose more value. “The empty houses will be sold off for a very small sum, probably less than half of what many existing residents paid,” said resident Ian Scott.

Posted by little professor @ 08:17 AM (1512 views)
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10 thoughts on “NIMBYs see their ‘luxury apartments’ become council flats

  • sibley's b'stard child says:

    Be sold a pup (British informal)

    To be tricked into buying something that is not worth anything “I’m afraid you’ve been sold a pup there. You should always get an expert to look over a second-hand car before you buy it.”

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  • mark wadsworth says:

    In that case, why don’t the owners of the flats put a consortium bid together to buy up the two blocks concerned? Put their money where their mouth is? Ah… thought not.

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  • I have always thought that you would have to be mad to buy a flat. My opinion still stands.

    Flats are for renting preferable from the council or some other reliable landlord.

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  • I love flats. The countryside and gardens are overrated. My ideal spot till I snuff it is the 9th floor of a block in a bustling city that’s walking distance to the nearest library, a cafe and a station. Life at altitude frees the mind, giving you an eagle eyed view of the hubris of humans. I accept I might be in a minority. Give me an eyrie over a hoose any day.

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  • Flats are terrific for youngsters just starting out and retirees. Although the two should not be mixed.

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  • “Clanmil Housing Association (has) an enviable track record of……creating and supporting sustainable communities.” So what are the residents worried about?

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  • As khards says, by all means rent a flat but never buy one.

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  • I feel sorry for them, but you take a risk with the purchase of any asset. However, for many these were not speculative investments, just an attempt to get on the ladder, so I think that they are vicitms of economic mismanagement.

    The problem with making it social housing in NI is the religious angle. Since the protestants and catholics do not really mix, it will probably become an estate associated with one religion or another. I feel very lucky not to live there.

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  • Nothing wrong with buying a flat, I bought a fixer upper with my partner in a listed building in 1990 a year or so after starting work as an Engineer. It was cheaper than renting at the time and served me well over the years. I could not have called a rented flat my home and made it such. We didn’t have need to upgrade and the quality of life was great, when it came to upgrading to a house in 2009 we chose to rent a house we could never afford to buy, again qualiy of life is good but it would be nice to be able to invest in some things. You pays your money and makes your choice, then try and be happy with it.

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  • crash bandicoot says:

    @ Mark W, As an alternative they could always sell up and move somewhere more in keeping with their expectations. Unless of course they blew all of their cash on an overpriced shoe box…

    It’s rather playing to the gallery on this forum to say that we need to get over this kind of article and show those who, as SBC puts it have bought a pup, that it’s time to put up and shut up. If the flats had doubled in value and were full of eastern mineral magnates would they be complaining about their lot? No.

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