Housing Finance and Economics Evaluating New Labours Housing Policy Coursework

Housing Finance and Economics Evaluating New Labours Housing Policy - Coursework Example (Williams, 1999) When an estate is not under maintenance and also in a dilapidated condition, the council is more inclined to allocate them to people are socially inadequate or inefficient. Here social residualisation also becomes economically unproductive since the resources in the region are not optimally utilized and the rest of the residents feel entrapped and isolated which keeps them away from participating in the economy. This leads to immediate convenience but short sightedness. For instance, people who claimed ownership houses keeping in view the Right to Buy are deceived and their period of wait goes to vain. At this juncture a social dilemma arises with relation to the exclusion of people through the housing framework or from the same. This is due to residualisation and ‘spatial concentration’ of the system. The paper brings forth the economic evaluation of the housing policies of New Deal after 1997 considering alongside the economic factors influencing the h ousing system after the coalition administration came to power since 2010. Achievements of the New Labour’s Housing Policy When the New Labor came to power, things were against the favor of social housing system. This was especially due to the Thatcher’s Right to Buy system which decreased the number of accommodations available for social housing. In this context, Cooper observes, â€Å"In the last year of the Conservative government which lost to Mr Blair, Great Britain suffered a net loss of 16,257 homes†¦The number of homes built by councils and housing associations plunged from its peak of 110,000 in 1980, the second year of the outgoing Conservative government’s 18-year tenure, to just 34,860 in 1996, its final... The paper brings forth the economic evaluation of the housing policies of New Deal after 1997 and considers alongside the economic factors influencing the housing system after the coalition administration came to power since 2010. The main purpose of providing social housing is to provide houses which are within the range of affordability for the individuals with low income levels. This segment is monitored such that rents are kept at low levels. This sector is different from that of private landlords where the choice of the later dominates. Here, houses are allocated according to needs and the social landlords state in advance the criterion on the basis of which the allocation is done on a rational ground. They might have a policy of alteration at any time as per the decision of the landlord. The New Labor administration brought about the issue of housing within the jurisdiction of social inclusion, as the government announces its goal of providing each citizen â€Å"the opportunity of a decent home and so promote social cohesion, well-being and self-dependence† The Welfare Reform Bill will help in shoving the individuals from benefits towards jobs.In fact the modern coalition government’s scheme supports the people with economic and social priorities instead of medical reasons or problems of homelessness. The programs undertaken by the government was led by financial and economic motives rather than social cause though the existing tenants are promised more fairness and satisfaction.