Make homes for people not for profit
- Thursday 24 January 2019
Housing is a human right
House prices are now 14 times the average salary and 600 families a day face losing their homes. The Bank of England has instructed banks to limit the amount of mortgages they give out that are more than 4.5 times the salaries of those applying, making home ownership out of reach for more and more people, forcing them in to rented accommodation where they are vulnerable to rip-off landlords in an unregulated market.
Families are being forced away from family, friends and their own communities as they are priced out by rising private rents. It is time to end the right to buy and return to housing as homes – not as pensions or assets.
Unite is calling for a massive council house building scheme to create more affordable housing and the regulation of landlords with the emphasis on rent controls, which work in Germany and Sweden.
- Every £1 spent on construction generates an additional £2.09 of economic output; it is one of the highest areas of returns
- For every £1 spent in building, 92p stays in the UK
- For every £1 spent by the public sector, 56p returns to the Treasury of which 36p is direct savings in tax and benefits