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The Socialist 3 December 2008 |
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New Labour's housing crisis
- Around four million people are on council housing waiting lists. The Local Government Association has predicted that this could go over five million by 2010.
- The Pre Budget Report pledged an additional £775 million towards social housing. However, the share towards building new properties - £150 million - will only result in around 2,000 homes.
- Mortgage lenders can sell a property, without being granted a repossession order, after the owner has missed two mortgage payments.
- Since being nationalised, Northern Rock has repossessed faster than any other mortgage lender.
- The number of borrowers in arrears reached 168,000 in October. There were 29,516 court repossession orders from July to September, an increase of 3% from the previous quarter.
- Banks are no longer offering lower, competitive interest rates to mortgage holders unless they have a high amount of equity in their homes, ie they have already paid for most of the property.
- Over 500,000 homeowners are now in negative equity, meaning that their debt is higher than the market value of their home.
In this issue
Job losses
 Fight back now against job cuts
Woolworths jobs threat
Fighting the threatened closure of Hoover factory
Environment and socialism
Our planet not their profit
Socialist Party editorial
India and Pakistan conflict
Terror mayhem strikes Mumbai
Socialist Party campaigns
Judiciary challenged over the right to protest
Building a left wing political alternative
Southampton uni students fight fees
Liverpool: mobilising against the far right
In brief
Comment
Social workers demand proper resources
Secondary education: PFI's gloss soon peels away
Socialist Party LGBT
Fighting homophobia
Socialist Party Marxist analysis
Crisis-hit capitalism fears prospect of revolution
International socialist news and analysis
Venezuela elections: Chávez wins victory but opposition gains ground
Marxist analysis: history
The Isle of Man general strike 1918: Workers' power paralysed government
Socialist Party news and analysis
Help fund the alternative to big business politics
Socialist women: Looking at the past to take action today
Housing crisis
Stop the repossessions
New Labour's housing crisis
Socialist Party workplace news
Vote 'no' to BT's pension cuts
A Christmas message from the Unite leadership
Dover docks strikes
Appledore shipyard
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The Socialist 3 December 2008 |
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