Britain's richest MP forcing people from their homes!

Mr Benyon has bought the New Era Estate and told residents that their rent will be increased to market value, that's £600/pw or £2,400/pm. Anyone who can afford a £28,800 yearly rental charge must be earning close to a six figure salary.

I'm sure you can tell from the clip, that there are young families that will be forced from their homes, into hostels. The New Era Estate is already a profitable business, this is just pure greed!

That's capitalism for you. The accumulation of vast wealth is held-up to be some sort of accolade. Bring on the revolution.

I'm sure I've seen another side to the part in the film where they are looking at the laptop. Can't think where though.

ooh look its mutli millionaire movie star Russell Brand trying to show he is a man of the people dealing with real people issues.

Yawn.

Something that is a private investment should damn well be charged at market rate. That's what investors have bought it for. To make money.

Investors are not a charity. The council were the ones who decided to sell it. Where were their feelings for the residents? Council would have known full well what would have happened.

Why all the smearing against the business doing exactly what businesses are there for?

The state are supposed to be the ones providing for those in need not private enterprise. If councils choose to sell off .... that's where the anger should be directed.

As for the misleading headline... ITS NOT a single MP forcing people out for god sake. He has a shareholding in a tiny portion of a investment company, one of whose many many investments happens to be this estate. Jesus, pension companies, group investment bonds, sharesave schemes do just the same all the time.

Typical smear tactics against the most easy picked person.

ooh look its mutli millionaire movie star Russell Brand trying to show he is a man of the people dealing with real people issues.

 

Yawn.

 

Something that is a private investment should damn well be charged at market rate. That's what investors have bought it for. To make money.

 

Investors are not a charity. The council were the ones who decided to sell it. Where were their feelings for the residents? Council would have known full well what would have happened.

 

Why all the smearing against the business doing exactly what businesses are there for?

 

The state are supposed to be the ones providing for those in need not private enterprise. If councils choose to sell off .... that's where the anger should be directed.

 

As for the misleading headline... ITS NOT a single MP forcing people out for god sake. He has a shareholding in a tiny portion of a investment company, one of whose many many investments happens to be this estate. Jesus, pension companies, group investment bonds, sharesave schemes do just the same all the time.

 

Typical smear tactics against the most easy picked person.

It's already a profitable business. There's 90 families that will be made homeless!!

I hope you never find yourself on the end of something like this.

It's already a profitable business. There's 90 families that will be made homeless!!

 

I hope you never find yourself on the end of something like this.

It may well be profitable but if its not charging market rate its not profitable enough. Its an INVESTMENT FUND. Its has one purpose.

I am sorry that these 90 people are allegedly being made homeless but that has nothing to do with the business. They are living with rare benefit of being in private accommodation being charged at a massively subsidised rate. I ask again, why all this finger pointing against the business. The COUNCIL sold off the estate. They are the only people to blame.

as for the typical "... hope you never find yourself comment..." Well, I am already am "at the end of this"

I live in private rental myself. I pay full market rate as much as I can afford. When rents have become too expensive. I had to move to somewhere else at a rate I could afford. That's real life.

Bottom line is this. Unless you OWN a property it is never yours. You may be lucky enough to live in a rental home for 20+ 30+ 40+ years but its still not yours. That means if circumstances change for whatever reason there is a likelyhood that you may have to move. Simple as that.

 

Mr Benyon has bought the New Era Estate and told residents that their rent will be increased to market value, that's £600/pw or £2,400/pm. Anyone who can afford a £28,800 yearly rental charge must be earning close to a six figure salary.

I'm sure you can tell from the clip, that there are young families that will be forced from their homes, into hostels. The New Era Estate is already a profitable business, this is just pure greed!

Was this estate originally built as council property?

I never knew how a council estate could be profitable

I never knew how a council estate could be profitable

I believe it was privately owned and turning over a healthy profit already.

It's already a profitable business. There's 90 families that will be made homeless!!

 

I hope you never find yourself on the end of something like this.

Return on investment is the important measure, not bottom line profit.

---------- Post added 06-11-2014 at 08:22 ----------

Hang on a minute

The residents on the Hoxton estate, which was built in the 1930s and is home to up to 90 families, started a campaign after their rents increased by 10 per cent.

10%.

Hardly some sort of massive hike like you were suggesting.

---------- Post added 06-11-2014 at 08:24 ----------

And some basic maths here

Ms Garrett, a single mother, said that since her rent increased by over a hundred pounds a month

So if that's a 10% increase, she was already paying £1000 a month.

Or rather, the tax payer was paying it...

And in 2016 the residents suspect that the rent will be increased to £2000/month, the market rate.

---------- Post added 06-11-2014 at 08:28 ----------

I can't find out who the previous owner was, or why they charged "near" social rent levels.

ooh look its mutli millionaire movie star Russell Brand trying to show he is a man of the people dealing with real people issues.

 

Yawn.

 

Something that is a private investment should damn well be charged at market rate. That's what investors have bought it for. To make money.

 

Investors are not a charity. The council were the ones who decided to sell it. Where were their feelings for the residents? Council would have known full well what would have happened.

 

Why all the smearing against the business doing exactly what businesses are there for?

 

The state are supposed to be the ones providing for those in need not private enterprise. If councils choose to sell off .... that's where the anger should be directed.

 

As for the misleading headline... ITS NOT a single MP forcing people out for god sake. He has a shareholding in a tiny portion of a investment company, one of whose many many investments happens to be this estate. Jesus, pension companies, group investment bonds, sharesave schemes do just the same all the time.

 

Typical smear tactics against the most easy picked person.

Bang on the money sir!

Regards

Doom

I feel sorry for the residents but unless you own your own house then you are rolling the dice.

What this story does is highlight the huge housing bubble in London forcing up the market rate.