UK housing associations off the government’s balance sheet
NHF explains why this is much more than just an “accounting trick”
Following a series of positive announcements in October, the Secretary of State delivered the latest piece of good news for the sector by confirming the ONS’ (Office of National Statistics) decision to remove housing associations from the public sector and off the Government’s balance sheet. In doing so, they have reversed the decision made in October 2015 and reaffirmed housing associations’ status as independent social businesses.
Densification and energy transition in a win-win solution
New, modern, energy efficient living spaces in the heart of the city. An urban legend? La Casa por el Tejado claims and shows that if we look up, we may see the future of living in major European cities.
Finance and housing are both crucial for the functioning and wealth of our societies. However, they can form an explosive mix for our economies. The financial crisis clearly unveiled this.
Two trends explain this. First, housing gradually lost its initial function: provide a home to households. Gradually it became a financial commodity. Secondly, the financialization of economies led to a disconnect between financial assets and societal needs In the real economy.
Things are evolving, however. There is a now a new movement in the financial sector that explicitly wants to direct more financial means towards impactful investments for society. An excellent opportunity to remarry finance and (affordable) housing.