Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/697/13303

From The Socialist newspaper, 7 December 2011

Homes Crisis: Fund housing need - not fat cat greed!

Paul Kershaw, Unite LE 1111 housing workers' branch
Flooded with Debt, photo Suz www.squashdonkey.co.uk

Flooded with Debt, photo Suz www.squashdonkey.co.uk

The Con-Dems have announced a 'housing strategy' that benefits big building companies and banks, including selling off more social housing stock and underwriting banks that offer 95% 'subprime' mortgages for newly built houses. New 'affordable' housing will have rents at 80% of the market level - better described as unaffordable!

Between April and September 2010 there were 13,626 new 'affordable' homes - the lowest since 1945. But between April and September 2011 there were just 454; 259 for social rent and 195 for low-cost home ownership.

In the North West no affordable homes were started. In the eastern region work started on just one. Perhaps Londoners should celebrate the 56 social rented homes started in the capital?

The threat of redundancy, falling pay and the prospect of rising interest rates also contribute to the prediction that the average age of first time buyers will rise to 40. Many who do buy struggle to pay their mortgage.

Will banks actually increase lending on the basis of the government's mortgage underwriting? Instead, profit-seeking lenders are likely to redistribute a fixed pool of mortgage funds from one set of borrowers to another to mop up the guarantee.

The government will also offer public land to building firms - on a build now, pay later basis - and look to make it more profitable to become a private landlord.

Private landlords

But lack of affordable housing means more people are already stuck in private rent homes, paying rising rents and knowing landlords can boot them out as they choose.

Not only do 1.5 million of these homes fail the government decent homes standard, 71,000 homes are actually dangerous and had serious 'Category 1' hazards.

Rising rents, cuts in housing benefits and further attacks on council housing spell distaster.

Official figures show homelessness up 10%. Every day 400 more young people face life on the streets. Almost half of homelessness agencies are turning away young, childless homeless people due to a lack of resources. The number sleeping rough in London is already up 32% on the whole of last year.

The Con-Dems fear the political blowback from their cuts. Cameron and Clegg have been shown walking around sites talking about the 'need to build'.

The government has said it will restore 10% of the cuts to housing spending announced in last year's budget.

But last year's cuts amounted to 70% of spending on housing and were supplemented by housing benefit cuts.

In reality, the extra money is designed to help their friends in the banks and building firms.

The Socialist Party's demands for real action include:

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 7 December 2011:


Socialist Party feature

Con-Dems pile on the misery - 'Enough is enough'


Socialist Party editorial

Eurozone crisis - capitalists have no solution


Workplace news and analysis

Cuts and misery - it doesn't have to be like this

Socialist MEP supports public sector strike

"The genie is out of the bottle"

30 November strike: a historic day!

Building a fighting union - interview with Steve Hedley

Defend the JIB, victory to the sparks!

Reinstate Paul Kelly: Solidarity with Portsmouth RMT

Workplace news in brief


Socialist Party news and analysis

Tory sleaze is back!

Reading the riots

All in it together

Them & Us


Climate change

Climate change and extreme weather


Housing crisis

Homes Crisis: Fund housing need - not fat cat greed!


International socialist news and analysis

Portugal: Build on the general strike action

Ireland: Resist latest austerity attacks

Tamil Solidarity: Gearing up for 2012

Brazilian socialists remember Socrates


Socialist Party reviews

Theatre review

When workers planned production: the Lucas Aerospace plan


 

Home   |   The Socialist 7 December 2011   |   Join the Socialist Party

Subscribe   |   Donate   |   Bookshop






Related links:

Housing:

triangleUSA: Seattle activists win housebuilding programme

triangleResidents protest at plans to close nine community centres

triangleThem & Us: 500k house party... 50p for rent

triangleEnd the Tories' war on the working poor

triangleDoncaster: cuts give rise to 'tent city'

Cuts:

triangleTories torn in two on single market

triangleProtesters surround cutting council

triangle'Black alert' NHS: Demonstrate 4 March

triangleBillions in profit for Tesco, cuts and job losses for workers

Banks:

triangleBosses' pay goes up by 82% for nothing

triangleFood banks and the real Daniel Blakes

triangleSuper-rich investigated

Government:

triangleNorthern Ireland calls snap election: back Labour Alternative

triangleMexico: Mass movement against "gasolinazo"

News and socialist analysis

News and socialist analysis

18/1/17

Northern Ireland

Northern Ireland calls snap election: back Labour Alternative

18/1/17

EU

Tories torn in two on single market

18/1/17

Labour Party

Labour's civil war continues - build a mass workers' party

18/1/17

NHS

'Black alert' NHS: Demonstrate 4 March

18/1/17

Transport

Pollution kills 600: fight for clean air!

16/1/17

Wealth

Eight billionaires own as much as half humanity!

11/1/17

Haringey

Haringey: pressure grows as Labour council cuts

11/1/17

Wealth

Bosses earn average salary in under three days

11/1/17

Northern Ireland

'Cash for ash' scandal set to bring down Northern Ireland government

11/1/17

NHS

NHS in meltdown from spending cuts - demonstrate on 4 March!

11/1/17

Tony Blair

Blair's multimillion plans to fight 'populism'

11/1/17

Them & Us

Them & Us: 500k house party... 50p for rent

11/1/17

Strike

Strikes show workers' power

11/1/17

London

Khan should attack bosses, not workers

11/1/17

What we saw

What we saw

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle18 Jan Tories torn in two on single market

triangle18 Jan Labour's civil war continues - build a mass workers' party

triangle18 Jan Protesters surround cutting council

triangle18 Jan Trotsky and February 1917: Preparing for revolution

triangle16 Jan Eight billionaires own as much as half humanity!

triangle11 Jan 'Cash for ash' scandal set to bring down Northern Ireland government

triangle11 Jan NHS in meltdown from spending cuts - demonstrate on 4 March!

More ...

triangle19 Jan Huddersfield and Halifax Socialist Party: The Russian Revolution 1917

triangle19 Jan Bradford Socialist Party: How can Trump be stopped?

triangle19 Jan East London Socialist Party: Stop Newham council tearing up workers' contracts

triangle20 Jan Protests against Trump's inauguration

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Categories

1-9 

1-9 


Archives:

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice