Gresley | 31/05/2011 11:30 am
I don’t think a period of reflection by RSLs is needed – a movement away from their “toys pram” ideology is needed – we won’t build unless you give us some money, we won’t let our un-sold stock convert to rent because we are developers and it’s worth x amount, we want VAT concessions, we help the needy yet we want to choose to put them in to 80% rents (into HB) otherwise our business plan don’t work, we’ll sit on landbanks because it cost us x, blah blah, blag blag.
This Government that loves a consultation should investigate what has gone on with RSLs over the past decade or so. Yes, there’s a housing crisis, yes ownership is unaffordable for many but I have no doubt that the money for better social stock numbers and tenure options was there but we were given PFI, SO schemes that had to be turned to Rent to Buy schemes, DHS, RSLs modelling themselves on private landlords (PSL lite), pathfinder, how long you got? ;-)
This Government has done no more than have a quick look at the books and started to promote the affordabull that we’ve had to listen to for the past decade or so yet what they should do is make the RSLs sweat their assets (public money) and start coming up with something innovative at which point it will become very apparent that the RSL debts (all bank rolled on tenant income – they have no other viable income potential ) make any real prospect for future building of affordable rented properties unviable. Perhaps then a credible programme of getting the country out of the housing crisis will occur including a formal cabinet seat not a bit part at CLG.