Despite FSA protections we face a wave of homelessness
FSA’s plans to protect homeowners from dodgy sale and rent back agreements are admirable, but they won’t do anything to prevent a wave of homelessness hitting the country in the coming months and years.
This will be because the government is capping housing benefit, which will eventually leave it inadequate to help pay for accommodation of any kind; the squeeze on local authority spending; the rise in unemployment and the repossessions that will surely arrive soon; generally rising mortgage rates, though that will be slow to feed through; and a shortage of social housing.
The basic problem is that we haven’t been building homes for the poor for a long time now, and the stock of council houses was sol d off long ago. It may well be that as a society we can no longer afford to give everyone a roof over the heads; but the consequences will be extremely distressing.Tagged in: benefits, cuts, fsa, homelessness, homeowners, recession
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