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


 

Facebook   Twitter



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

Subscribe   |   Donate   |   Bookshop






Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter



Related links:

Housing:

triangleCampaign steps up on New Era estate

triangleHackney tenants get organised

triangleReinstate Bryan Kennedy

triangleThem & Us

triangleSouth London TUSC meeting: How do we fight the housing crisis

Cuts:

triangleWelsh councils have a choice

triangleBT pay cuts: we need less surveys, more action!

triangleNorth West Fire Service call centre cuts catastrophe

Banks:

triangleJess Spear election success

triangleRegulating the banks? Don't make me laugh!

triangleBritain's non-investing, cheap wage bosses

Government:

triangleGovernment's economic mirage as election approaches

triangleWe can't live on poverty pay!

News and socialist analysis

News and socialist analysis

20/8/14

Pay

We can't live on poverty pay!

20/8/14

Economy

Government's economic mirage as election approaches

20/8/14

Scotland

Socialist policies needed to answer Project Fear

20/8/14

Mental health

Scandal of underfunded mental health services

20/8/14

Pay

Them & Us

15/8/14

Self-determination

Socialism and national rights

15/8/14

Iraq

Iraq: Only united action can stop sectarian war

6/8/14

Pay

Unite to fight pay robbery

6/8/14

capitalist crisis

Capitalist crisis continues

6/8/14

Energy

Energy giants' profits continue to defy the laws of gravity

6/8/14

Scotland

Scotland: Countdown to independence referendum

6/8/14

Banks

Regulating the banks? Don't make me laugh!

6/8/14

Minimum wage

Them & Us

6/8/14

Austerity

Labour policy forum: continuing Tory austerity

31/7/14

Gaza

No more carnage in Gaza - Mass struggle to end the siege - Stop Israeli state terror

triangleMore News and socialist analysis articles...

triangle29 Aug Fast Food Rights Day of Action

NHS workers on strike on 30 November 2011, photo Paul Mattsson

triangle20 Aug We can't live on poverty pay!

London Gaza demo 19 July 2014, photo Paul Mattsson

triangle20 Aug Capitalism means war: Join the Socialists!

triangle20 Aug Fight for real jobs

Women munitions workers during World War One

triangle20 Aug Protests, strikes and equality: Women in World War One

triangle19 Aug The People's March for the NHS

triangle19 Aug BT CWU members vote for strike action in latest consultation

More ...

triangle30 Aug Newport: Anti-NATO demonstration

triangle3 Sep Mansfield Socialist Party: Save our NHS

triangle3 Sep Salford Socialist Party: Marxism in today's world

More ...

Share on Facebook
Share on Twitter
Visit us on Youtube

Find us on Facebook

Archive

Categories

1-9 

1-9 


Archives:

August 2014

July 2014

June 2014

May 2014

April 2014

March 2014

February 2014

January 2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice