Just don\’t mix all that well, do they?
A quarter of a million new homes a year are needed just to keep pace. Last year just 100,000 were built, the fewest in decades, with only 16,000 so-called \”affordable\” homes, still unaffordable for many.
\”Affordable\” is a euphemism for housing association and local council. Who built more like 34,000.
This may or may not be enough but it\’s certainly different from 16,000.
She does love to return to this argument, doesn\’t she? As a dog returneth to its own vomit.
Even in the boom years, when average prices rose by £50 a day between the owner going to work and returning at night, developers refused to build. They sat on land banks watching values rise. Sitting on prime land with planning for 300,000 homes, they build in neither boom nor in slump, when borrowing is cheap. Only government intervention breaks that deadlock, with threat of fines or compulsory land purchase.
Hands up folks. How long does it take to get planning permission? Whay\’s that? Two to three years you say?
So an industry making sure that it has sufficient inputs given the time it takes to replace those inputs is what? Speculating on land prices or being fucking sensible?
One golden key is to entice investment into good new homes for rent. Local authority pension funds should invest in local building on land released by councils.
What? If building homes for rent is a good idea then great, invest in them under the normal fiduciary duty to maximise returns on pension assets. And why limit it to local authority pension plans?
And if it\’s not a good idea to do this financially then why screw the local authority pensioners? It\’s not the building houses for rent thing. It\’s why should one specific pension plan get privileged or screwed?
Oh dear God:
Also expect Dromey\’s first step to promise decent terms for the burgeoning numbers of private tenants, especially families. No more six-month tenancies, as a million people are moved on every year. Leases will be long term, with action to prevent soaring rents.
The cunts are going to bring back rent controls. As has been pointed out, nothing destroys the housing stock better than this: other than aerial bombing.
The tightrope walk for Labour is to banish the frenetic culture of house-price gambling without discouraging home ownership; to grow new investors in good private rentals while curbing profiteering landlords; to release land for building, and force developers to do their job. Above all, to use that painfully familiar phrase, use firm regulation to abolish boom and bust – at least in house prices.
There\’s a terribly simple way to do this. The majority of the market value of a house these days is the value of the permission to build it. Planning permission. It ain\’t the house and it ain\’t the land. It\’s the ability to put one on the other which costs all the cash.
So issue more and the price will come down. It just isn\’t that damn difficult.