Another Exciting New Report

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  • #38275
    John Boxall
    Participant

    http://www.smith-institute.org.uk/file/The%20End%20of%20the%20Affair%20-%20implications%20of%20declining%20home%20ownership.pdf

    I’ve just skimmed the executive summary, but it makes an interesting point about subsidy being moved from ‘bricks & mortar’ to the ‘supply side’ – HB

    There is also another point I have seen made about the long term effect of a reduction in owner occupation & the current pensions situation which is that we will be paying a lot more out to pensioners in the future as they wont own their own homes or have occupational pensions. You dont need a PHD in the obvious to work that one out.

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #63370
    michaelh
    Participant

    Well, it is pretty clear from that report that over the coming years more and more people are going to be forced to rent, rather than own a property, which will only result in more and more people requiring help with their rental payments. Given the percentages in the decline of home ownership predicted then we are talking millions more people renting rather than thousands.

    I realy do worry for the future if I am honest. If this goverment does plough ahead with UC in it’s current proposed format I dread to think how the DWP will cope with such large increases in volumes of work in an area where they have no expertise what so ever……

    #63396
    Kevin D
    Participant

    [quote=michaelh]I realy do worry for the future if I am honest. If this goverment does plough ahead with UC in it’s current proposed format I dread to think how the DWP will cope with such large increases in volumes of work in an area where they have no expertise what so ever……[/quote]

    And claimants will have virtually nowhere to turn – there have already been massive cuts in welfare advice (more to follow) and legal aid will shortly be unavailable for matters relating to social security. Of course, this wouldn’t be so important if benefits legislation was properly simplified – which, generally, it won’t be.

    #63394
    Lee Fearon
    Participant

    So, due to the banking crisis home ownership is becoming less accessible, leading to greater demand in the private rented sector.

    As the number of people who buy to let is also in decline for the same reasons, rental demand in the private sector is outstripping supply and this is likely to be exacerbated when the ironically named “affordable rents” initiaive and size caps kick in in the social rented sector.

    This being the case, it’s becomimg increasingly difficult to justify the LHA reductions and caps on the grounds that a third of private sector rents will be affordable to HB recipients. Throw in the tightening of the landlord payment provisions introduced under LHA and it’s difficult to see the attraction for landlords to make any decent accommodation available to benefit recipients.

    These reforms are really going well, aren’t they?

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