Property News · February 28, 2018

Housing associations' record profits are no reason to rejoice | Colin Wiles


Despite rent cuts, UK social housing providers have turned in a surplus of £3.5bn. So who is paying the real price? “The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.” I couldn’t help thinking of this closing scene from Animal Farm when I read that the UK’s housing associations made record operating profits of £3.5bn in 2017. Many critics have argued that housing associations have drifted so far away from their philanthropic roots that it is often hard to distinguish them from red-at-claw property developers. The latest figures appear to prove the point. Continue reading…

Source : theguardian.com
Read more…Housing associations’ record profits are no reason to rejoice | Colin Wiles

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