I’m rejecting Help to Buy, here’s why you should too.
Firstly, apologies, the title is a bit of a necessary white lie. I’m actually rejecting all forms of state assistance to buy a home currently on offer. But frankly a title that says “Why I’m rejecting, Help to Buy, Rent to Buy, the expanded shared ownership programme plus other miscellanea relating to Government schemes to purchase a home” doesn’t quite have the same ring to it. But you get the point.
As someone who has worked ‘professionally’ since graduating, who has had to move homes on an above average basis, who has experienced in-work poverty (that sucks kids, don’t try it) and who has been unable to save for a house because you know, life. It might be a bit odd to some to reject the assistance available. Particularly given the breadth of schemes on offer.
List of Schemes Currently in Play
- Help to buy – Equity Scheme
- Help to buy – mortgage guarantee
- Starter Homes
- Shared Ownership
- Rent to Buy
- Right to Buy v2.0 for LA tenants
- (Voluntary) Right to Buy for HA tenants
- ISAs to save
Why the hissy fit?
Fundamentally money that was going to be spent on housing the most in need in this country will now be spent elsewhere. Yet many of those who on the face of it would be set to be helped by Starter Homes (those unable without the cash and/or credit to buy, but ineligible for social housing) probably won’t be able to afford it. Had to rely on figures from Shelter here, because the Government appears to have lost the fag packet on which they did their sums.
As someone who puts a great emphasis on social justice the latest set of proposals from Government are incredibly nauseating to take. As someone who works in Performance, where methodology and reasoned decision making is important this blasé approach is deeply concerning. But it as a taxpayer that I’m fucking fuming. Money is being thrown around in the wrong way, often at the wrong people. In attempting to make it rain for the middle and lower middle class this Government has decided to stretch the definition of a affordability to its very limits. In doing so it is continuing the creeping death of social housing and the distortion of a highly dysfunctional housing market. That doesn’t end well, for anyone.
Right to Bollocks
The political bung that is the Right to Buy extension to Housing Association tenants, albeit in a voluntary form and with some tweaks after an agreement between Government and the sector (well, most of it), highlights the absurdity of thinking going on. Much needed council housing will be sold off to pay for other people to buy much needed social housing. Even with a like for like replacement (even 2 for 1 in London) it is unlikely that a net loss of social housing will be avoided. But that’s not the point. Replacements have never matched the numbers being sold, and despite some debatable sums being thrown about, the jury is very much still out. Often once sold the same property is then let at market rent. In many instances the person renting the RTB property is then claiming housing benefit. Meaning that the lucky owner profits twice at the expense of the general public. That is utter madness and piss poor value for money.
At a time of increasing homelessness and at best stagnated progress on inequality it is a disgrace that these policies are being pushed through without a social housing element. This country needs more of all kinds of housing. Not just the type that hopes to win votes. In the end this is what matters. Cameron et al. have decided to abandon those at the bottom of the pile to help those higher up. I want no part of that. Period.