Just don’t say it too loudly, but this is People’s Quantitative Easing on its way
Is it, really?
The housing association London & Quadrant has launched a partnership with the Greater London Authority to build 10,800 homes at Barking Riverside, in what may be the largest project undertaken by the sector.
L&Q takes over the development, aiming to create a new suburb the size of Windsor, from the listed housebuilder Bellway, which had owned the 179-hectare site since 1994 but saw the project stall because of a lack of public transport links.
L&Q will invest £70m to help extend the London Overground rail line to the site, and will tap the bond markets — where investors have shown strong appetite for debt backed by social housing portfolios — for its £1.5bn investment in the project.
That the standard financial markets, investors liking the look of a project, can finance housing shows that the government should just print money for the same purpose? Will?