The Right To Buy.

crookie · Apr 14, 2015

Titanic said:
which frees up money to build some of these 400,000 houses over 5 years?? so both increasing supply, home ownership and fairness at a stroke. A MASTERPLAN!

Don't be so naive. Where are these houses going to be built ? We have not built enough homes for the last 20 years. 400,000 over 5 years ? We need 400,000 a year for the next 10 years to bring prices to a more affordable level. Do you think the developers want prices coming down ? All the parties are fiddling around with the demand side, but doing nothing to increase supply, all hopeless.

Lethargic · Apr 14, 2015

Thank God its not just me I really thought I was missing something with this but no it turns out it's just Tory politicians that are not in touch with reality.

Notters · Apr 14, 2015

Hastings gull said:
Is this what everyone is going to do with their freed-up pension fund? You have obviously spoken to thousands of folk about this?

Did I say everyone? No. Have I heard/seen dozens of rich pensioners call up Jeremy Vine, write about it on the BBC website and comment on it in newspapers? Yes.

Bloody hell, even the Daily Fail is admitting to it and it's their bloody readership.

http://www.dailymail.co.uk/news/art...s-snap-buy-let-properties-young-t-ladder.html

Westdene Seagull · Apr 14, 2015

At the risk of being in a minority of one, Right to Buy would be a good thing if implemented properly. I know some people don't wish to own their own home but many do. Anything that allows people to do so rather than pay stupid rents has got to be a good thing. What makes the Tory policy ( and that of the 80s ) so bad is that there is no requirement to replace the sold homes. Councils and HAs should be compelled by law to replace properties using the proceeds from the sale - maybe even compelled to increase the number they hold - i.e. for every 100 sales they have to build 110.

clippedgull · Apr 14, 2015

[MENTION=27870]crookie[/MENTION]

How did the guy who never worked manage to buy a property even at a discount? Dodgy mortgage?

GT49er · Apr 14, 2015

clippedgull said:
[MENTION=27870]crookie[/MENTION]

How did the guy who never worked manage to buy a property even at a discount? Dodgy mortgage?

Freddie Mac or Fannie Mae?

Gwylan · Apr 14, 2015

It's totally bonkers policy.

I lived in a housing association place for some years. I got on the list as a student, lived there while I was on a starter salary and as soon as I got some decent wedge, I moved out, freeing it up for someone else. A year later, I had enough in the bank to my own property.That's how HAs work.

So, these days I could have stayed on to pick up my discount and got a bargain house - all totally undeserved, while the HAT loses more of its stock

nicko31 · Apr 14, 2015

Notters said:
Don't forget freeing up people's pension funds to splurge on by to lets.

Yep, they don't know how to get growth without debt, and this government are the masters of it

Herr Tubthumper · Apr 14, 2015

seagullsovergrimsby said:
It is a Thatcherite strategy aimed at the "I'm alright Jack" sector of the working class electorate. Election bribes will often fool voters who don't realise the long term consequences.

Very much this. This new approach just shows what total bullshit his "all in this together" and Big Society is.

Ernest · Apr 14, 2015

This is what the Housing Federation the publication of Housing Associations think they think unsurprisingly it will fail.

We have a housing crisis. It has many different components but at the heart of it is the reality that we have not built nearly enough of the right homes in the right place at the right price for a generation or more. All the efforts of housing associations, local authorities and others are geared towards ending this housing crisis by building new homes and regenerating existing homes where that is the best solution. The Right to Buy makes that more difficult. For those housing associations that already have the preserved RTB, the discounts of up to £102,500 make the government’s commitment to 1-1 replacement a hollow joke. Here’s just one example. Phoenix Community Housing in London recently sold a home worth £210,000 on the open market for just over half of that. From the proceeds, some went back to the Treasury, some to the local authority leaving a receipt of just £27,000. Have you tried building a new home for £27,000?

crookie · Apr 14, 2015

clippedgull said:
[MENTION=27870]crookie[/MENTION]

How did the guy who never worked manage to buy a property even at a discount? Dodgy mortgage?

To be honest with you, I am not 100% sure. It might even have been his mothers house, that she got the RTB and he inherited it. Although before the crash pretty much anyone could get a mortgage, you could just claim you were self-employed and self-certified your earnings. Maybe I should have listened more carefully to my GF, but that was the general gist of it. That someone who had basically put very little into the property was now raking it in courtesy of the council and high house prices, and living the life of riley abroad on the proceeds

crookie · Apr 14, 2015

Gwylan said:
It's totally bonkers policy.

I lived in a housing association place for some years. I got on the list as a student, lived there while I was on a starter salary and as soon as I got some decent wedge, I moved out, freeing it up for someone else. A year later, I had enough in the bank to my own property.That's how HAs work.

So, these days I could have stayed on to pick up my discount and got a bargain house - all totally undeserved, while the HAT loses more of its stock

problem with ridiculous house prices, if you are in a HA property you'd be crazy to move out as private renting is so much more expensive, this just clogs up the system, no-one is moving on from social housing

Alex Alex Dawson oo! oo! · Apr 14, 2015

Herr Tubthumper said:
Very much this. This new approach just shows what total bullshit his "all in this together" and Big Society is.

Bevan was right - "........lower than vermin", the entire ****ing bunch.

Gwylan · Apr 14, 2015

crookie said:
problem with ridiculous house prices, if you are in a HA property you'd be crazy to move out as private renting is so much more expensive, this just clogs up the system, no-one is moving on from social housing

Well, I did because I no longer had a need to do so. I had life tenancy so could have stayed but I could afford to pay market rate so I freed up a property for someone who was on a low income - that's how housing associations work

Leekbrookgull · Apr 14, 2015

Westdene Seagull said:
At the risk of being in a minority of one, Right to Buy would be a good thing if implemented properly. I know some people don't wish to own their own home but many do. Anything that allows people to do so rather than pay stupid rents has got to be a good thing. What makes the Tory policy ( and that of the 80s ) so bad is that there is no requirement to replace the sold homes. Councils and HAs should be compelled by law to replace properties using the proceeds from the sale - maybe even compelled to increase the number they hold - i.e. for every 100 sales they have to build 110.

Surely the problem there is lets say its 100K to build a house but do to The Right To Buy scheme the H/A has to sell at a discount of that cost figure,there's no return for the H/A and therefore they won't build surely ?

Machiavelli · Apr 14, 2015

crookie said:
This one policy might cost the Tories my vote, not that it makes any difference in Tunbridge Wells anyway. There are so many objections to this.
- Some Housing Associations are private companies, so it will be Conservative policy to force a private company to sell it's assets, against it's will at a below market rate ? Really ?
- How is it possibly fair that someone who is fortunate enough to have lived in a Housing Association property for just 3 years, gets the right to buy it at a discount ? What about the people, especially in the South East, paying full market private rents, struggling to save up enough for a deposit of their own ? We taxpayers paid for construction of , and subsidise the rents paid on these properties, the people fortunate enough to benefit from that will clean up, taking advantage of the ever-rising house prices.
- My partner works in housing, and she told me a classic example of the consequences of right to buy. One guy got the max discount on the right to buy as he had lived there for years, never worked, so never paid rent, it was all housing benefit, so it was bought for a song. The council now houses a family in there, via housing benefit, at market rent, it's near London, so v expensive. The guy who bought it on the cheap now lives abroad in Spain off the rental income the Council pays him for a property he never paid a penny for, that they used to own. You couldn't make it up. Sure there are plenty of similar stories, and there will be many more now.
Economics of the madhouse.

Top post. All the Tories on here should read this and think.

Bozza · Apr 14, 2015

Miliband has come out in favour of RTB today. It's good to have cross-party support for these innovative ideas.

Machiavelli · Apr 14, 2015

crookie said:
Don't be so naive. Where are these houses going to be built ? We have not built enough homes for the last 20 years. 400,000 over 5 years ? We need 400,000 a year for the next 10 years to bring prices to a more affordable level. Do you think the developers want prices coming down ? All the parties are fiddling around with the demand side, but doing nothing to increase supply, all hopeless.

You carry on explaining what's been going on over the past few decades. It saves me from typing, and you're more clued-up on this issue than I am: :thumbsup:

Uncle Spielberg · Apr 14, 2015

The Tory government do not know that the new regulations have made it very hard for a lot of people to ever get a mortgage or own their own homes, god help you if you are over 45 for example as just one major issue. 80% of the UK population will find it hard to move or re mortgage now. It is the blind leading the blind

haggis · Apr 14, 2015

Bozza said:
Miliband has come out in favour of RTB today. It's good to have cross-party support for these innovative ideas.

Where does he state that he is in support of RTB for housing associations?

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