Now the lifeboat's sinking, too
Language: English Series: Building ; 213(8534) 20 June 2008, 60-62(3)Publication details: 2008Subject(s): Summary: Discusses how current economic trends and the affects of the credit crunch are affecting housing associations. The article illustrates that while housing associations have benefits in that they can obtain land at lower than market rates, they are now being exposed to higher lending rates than were typically offered in the past and are suffering adverse affects as a result of lowered activity among private house builders. It also asserts that some housing associations may risk breaching their loan covenants in the event of a prolonged economic downturn, through a combination of reduced sales and falling land value.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L144209 (Browse shelf(Opens below)) | 1 | Available | 144209-1001 |
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Discusses how current economic trends and the affects of the credit crunch are affecting housing associations. The article illustrates that while housing associations have benefits in that they can obtain land at lower than market rates, they are now being exposed to higher lending rates than were typically offered in the past and are suffering adverse affects as a result of lowered activity among private house builders. It also asserts that some housing associations may risk breaching their loan covenants in the event of a prolonged economic downturn, through a combination of reduced sales and falling land value.