In the news

Didn't spot your edit…

Mmm. Stop printing money.

We'll need new money for new stuff, like new buildings. And mortgages are good, actually.
Putting some sensible regulations on the banking system though? yeah, definitely.

Building needs to happen, it just won't fix affordability.

Yes, I agree!

We'll need new money for new stuff, like new buildings

Surely quantitative easing and crazy-low interest rates for a good period of time has a lot to answer for here, though?

Surely quantitative easing and crazy-low interest rates for a good period of time has a lot to answer for here, though?

Oh yeah, but I think the problem is deeper than that. The money from mortgages is new money too. Then there's the rental yield component of price, when prices rise fewer people can own, meaning higher demand for rentals, meaning higher rents, meaning higher purchase prices. It's a housing inflation doom loop and we're all trapped in it.

Haven't seen that in person, will look at floorplans later, but left looks like acceptable albeit bland European standard apartment building, probably maximise profit floorplans and then some coloured facade to make it look designy. Whereas right looks like modern and well designed houses, no?
You're aware that every house essentially is a box?

Not sure what your point is here. This is clearly the result of fly tipping, not the people who live there. Terraced housing with a rear access road strikes me as a perfectly reasonable way to achieve high density housing.

The larger ones on the left have large green spaces between the buildings, the ones on the right are just a car park with an adjacent dwelling, if you would scale that up you would end up with the same nightmare like you currently have with streets full of terraced houses where the only public space is storage for bins and cars.

It just reminded me of the prize winning social housing above, didn't realize it was supposed to be luxury housing, the interiors look cheaply finished.
Everything might be essentially a box but how you arrange the boxes in space, how you design the public space in between and what surface finishes you use has a massive psychological impact.

Gold standard for social housing is the ones I know from Munich, built around 1975, still looks pleasant and fresh today. It was built by private investors, dedicated social housing for a few decades and is partly private now. I think that's why it was built with high quality materials so they still have a nice building once it goes private instead of the current
build cheap and dump it.

3 Attachments

Apology needed. My memory was defective on this. I've checked with her and you and @MTB-Idle are right, the proceeds are not ringfenced as I incorrectly said.

What I was confusing this with is that in 2012 they made a commitment to replace all homes sold via right to buy 1:1. In theory great, but she says in reality there are 2 problems. 1. They didn't meet the commitment, and 2. It isn't a like for like replacement. As such, you could replace a 5 bed house with a studio flat and you've adhered to the rules.

I'll wind my neck back in on right to buy. In theory good, but I'll agree that in practice it is deeply flawed.

And flawed in theory.

This is worth a read too — "How big UK housebuilders have remained profitable without meeting housing supply targets"

Because housing targets are a government number not a requirement for a successful business?

Missed opportunity

1 Attachment

So the issue is social/societal as much as a supply?

This is quite interesting Link
But again I think it's not just an issue of housing it's society and the economy as a whole. I think london is too big and economic wealth/jobs whatever you want to describe it as needs to be spread over the country.

I posted the link because, in relation to the merger between Barratt and Redrow, it shows the centralisation of the UK building system on only a handful of companies.

And also, like, Lloyds Banking Group and Barratt have formed a new venture with the government housing agency Homes England, so they're not exactly separate concerns now.

The three largest housebuilders (by number of houses built) regularly produce about 25% of all new homes, while the top ten typically produce about 40-50%. This means the government relies on a small number of private businesses to deliver most new housing. But their collective supply consistently falls short of targets.

Profit over volume
In the years following the 2008 global financial crisis, the “big three” housebuilders that dominate the new-build market in Britain have been able to increase their profits without significantly increasing the number of homes they build. This has happened despite political pressure to increase UK housing supply.

[...]

The then-group operations director of Taylor Wimpey even pointed this out in May 2018, noting that “everybody in the industry has been telling you [investors] for several years how much easier the land environment is, how much, much better the returns are, how much less competition there is”.

We argue this state support via planning liberalisation has given volume housebuilders what’s called monopsonistic market power in local land markets.

[...]

As the then-group chief executive of Taylor Wimpey disclosed in July 2013: “like any oligopoly, there’s a balancing act. If you … try and push your market share … you move the whole market and that’s going to damage us all”.

That last comment shows how brazen these people are, they just couldn't give a shit

Now if the government was to engage in compulsory land purchases and use the new collaboration to build state rental accomodation it would be interesting. If all they are doing is funding barrat to build risk and capital investment free I'll be really pissed.

Maybe we ban all large housing companies and rely on small builders to knock up prefab houses to order. Eg go online, pick a plot and a building type. Choose some colours and 6 months later you have a house.

I'm not a big fan of compulsory land purchases tbh, unless it's for something like a new train line which has seriously important national value. I suspect you're right there though, however shit it might be, it's probably a vehicle designed to be seen to be doing stuff without risk or capital investment.

The competition and market authority just need to break these fuckers up. I wouldn't mind a european-style self-build/self-manage system like you describe, but we're so far away from it at the moment it's unreal.

You're right, thise are quite bad boxes.

Raygun is the top ranked breaker in the world...

https://www.theguardian.com/sport/article/2024/sep/11/raygun-ranked-number-one-world-breaking-rankings-olympic-games-performance-breakdancer-rachael-gunn

In the discussion about housebuilding the other day I was wondering why housebuilders haven't taken the next logical step:

Step into a new era of homeownership with our “Own with Assurance” Home Purchase Scheme—a unique opportunity that allows you to purchase your home while taking ownership of the construction business that built it. This scheme puts you in full control of your property, along with all associated responsibilities.

How Does It Work?

1. Direct Home Purchase with Business Transfer: When you buy your home, you also acquire a Special Construction Business (SCB) created specifically for the property’s development. This business was set up by the housebuilder to handle the construction and associated liabilities and is transferred to you at the time of purchase.
   
2. Transfer of Liability: Upon completion of the purchase, all liabilities related to defects, repairs, and maintenance are transferred to you through the SCB. The SCB comes with no income or remaining profit, and its sole purpose is to limit liability for the housebuilder. As the new owner, you bear full responsibility for any issues with the property, with no recourse against the original developer.
   
3. Full Control of Your Property: Owning both the house and the SCB gives you complete control over managing any future repairs or modifications. The transfer process is clear and straightforward, providing you with full transparency.
   
4. Ongoing Ground Rent: While you own the house and the construction business, ground rent payments will still be required. These payments are separate and must be maintained as part of your ongoing ownership responsibilities.
   
5. Transparent Transaction: The SCB provides a clean break from the builder’s liabilities, ensuring all responsibilities pass directly to you, allowing you to manage your home with confidence.
   
   

Key Benefits of the Scheme

• Complete Autonomy and Control: You have the power to manage your home and the associated business entity, deciding how to handle any defects or maintenance needs directly.

• Direct Liability Management: All potential liabilities are transferred to you with the SCB, which has no income or profit. This puts you fully in charge, with no recourse to the housebuilder for any construction-related issues.

• Privacy and Ownership Flexibility: The SCB structure offers added privacy and the opportunity to manage your property like a business, giving you both personal and financial control.

• Potential Tax Benefits: Owning a business entity may provide tax advantages. Consult with your financial advisor to explore how this might benefit you.

• Ground Rent Obligations: It’s important to note that ground rent is still payable as part of your ownership responsibilities, which must be factored into your long-term financial planning.

• Strategic Ownership Model: This scheme is perfect for buyers ready to take full responsibility for their property and manage all aspects of homeownership, including the liabilities transferred with the SCB.

https://www.bbc.co.uk/news/articles/cjrder972xgo

Jon Bon Jovi being a superbro.
Woman was in a bad mental state and the wrong side of a barrier on a bridge, he talked to her for a bit and got her back to safety.

Amazing.

Kinda surprised they went straight in for a cuddle though. Once upon a time I helped stop a guy jumping off a bridge in Paris, where he'd have landed on an open-top boat beneath, presumably to a grizzly end or at least some very serious injuries.

All he said to me was "Maybe next time", in English, and quickly fucked off.

Dave grohl not the hero everyone thought....

linky

There goes my hero

I believe the Pope is always looking for new admirers.

Watch him as he hoes (stolen from Twitter)

Feel a bit queasy about this one being so widely reported.
Suicides are treated with caution in media with good reason. The increased likelihood of copy cat suicides are well documented.
Let a disturbed individual read this and plant the idea in their head that your favourite celeb might just suddenly turn up and give you a hug ...

CMA says merger between Vodafone and Three, which would give them a combined 27 million customers and take network operators down from 4 to 3 would lead to higher bills for customers.

In a surprise move, Vodafone counters and says the merger will actually 'unleash more competition'. Economists around the world await further details.

https://www.theguardian.com/business/2024/sep/13/vodafone-three-merger-tens-of-millions-could-face-higher-bills-says-uk-watchdog