At least someone has thought up some medium term strategy!
I was banging on about teaching a 3 year multiskilled building course in an earlier post. It would make sense to do this at a technical school from 14 years onwards... equal opportunities of course! Women can shift bricks, we just carry less and go more often!
They will still need literacy skills, but the basic 3Rs only, to support the course. Any teenager wishing to do extra courses can stay on to do these after 4pm as optional classes. Keeping them at school from 9am to 6pm might keep them out of mischief too, they will be too tired to go out causing havock in the evenings! If they want to earn some money as well, they can work on these projects on Saturdays/Sundays. I am sure the fund can be geared to do this.
Lets face it, if the homes these youngsters come from are not going to support them to do this kind of thing, perhaps a residential school would be a better way of breaking the poverty cycle.
I noticed that I think it is Holland who are converting shipping containers into dinky little flats, so that single parents have affordable housing. They look really cool as well. These are also ideal as campus accomodation. So this is another area where those tech skills can be put to use.
I also can't understand why it isn't possible to get your old car serviced at a tech college. It would be a much more affordable way for low income families, and young people to get these things done, without driving round in a death trap. What is the point of putting people through a course if you can't get the course to be partially self funded.
The project Equifund are trying to get off the ground is for a minimum investment of £1000, and a maximum of £250,000. The idea is to generate profits by selling the houses to people struggling to get on the housing ladder.
An Interesting concept is that you can choose how much interest you want to get on your investment, ranging from 0 - 5%.
This is the exciting bit! Additionally in exchange for working 500 hours working on the affordable home the person wishes to own, buyers will be given 10% stake in the property. They can make that stake as a deposit, making it easier to get mortgage financing.
If people work on a home but can't afford a mortgage, they can rent the home for 5 years at an affordable rate.
Now imagine if the 17 year olds leaving school were capable of building these houses! They would then get the opportunity to go straight into work. If I had spare cash, I would have a slice of this. Better than putting my dosh into a boring bank!
Estimating the build time to be 18 months and those young people able to move their parents into a good quality new home would regenerate all the old run down housing areas. People would have far more 'ownership' of their neighbourhoods, and try to keep them better communities.
After the first wave of 19/20 year olds have built their own family homes, and got real working experience, they could go back to a state funded course to do further skills trades, and for those with the academic ability and the desire to do surveying, architectural, ect. The project might consider offering bursaries.
We could all regenerate our housing stocks this way! forget national service, get those kids labouring for their university places. What a great leveller, At least everyone then has competent DIY skills. In my estimation university places given without a job prospect are a significant waste of funds, and a waste of life at a young age. I wanted to work and party when I was young.
With a project like this rolled out, we wouldn't have a problem with funding retirement at 55! If people were home owners by the time they are 55, ie given a mortgage at 20 years old at a preferential 3% fixed, in a high quality eco friendly build, we wouldn't have the huge problem with the social state having to fund pensioners.
This would be a very good investment for the Government, as they haven't a clue how to gradually deconstruct the social state. People need to retire, and know they can afford to live. With long tem planning the whole idea of paying in for pensions that are worthless could be modified into investing in infrastructure that is publically owned. You could buy bonds for hospitals and schools as well... and then use this as your pension fund!
If I had dosh to put in this I would go for the 4% return, as I am now retired and want income. If there wasn't inflation at over .5%, This means I would get the 3.5% value of my investment minimum. I would also be able probably to withdraw my capital from the project at the end of the build if the house is bought, so I would be looking at this as a 2 year investment. Or be offered a higher return of a rental value % of the house if I wanted to leave my money in the project.
So long as each project isn't interlinked, and funds from each one ring fenced it would be an interesting project to invest in.
How about it locally in Jersey then? We need our non academic 14 year olds going to highlands on a 3 year multi skills course. If we got these projects running, they could also go out on site to do their practical assessments.
Is this a win-win for everybody?
Once new homes are built, and people move in, the old ones can be knocked down and those bad housing trouble spots re-designed and regenerated using the same bond funding.
I think this could be the start of a stable economic foundation that we people ourselves are in ownership of. It may even make our disaffected youth much more effective. The reason they are like that is because they are trapped in the pavement cracks of society.
I would be happy to offer my time as a project or school governor for this sort of thing. I would expect a nominal amount to cover my petrol and time, which would help me in retirement too. I like planning things, although being an eternal optimist is a bit of a handicap. You need a few pessimists around to keep us idealists and visionaries feet on the ground!
I like the idea of community ownership, it is pretty much what we have here. In fact there have been previous bond funded buildings in Jersey. Mostly Churches I think. If I remember there were bonds actually printed that could be bought and sold, but I need to do some research on it. I suppose it could create a seperate and untainted currency as well.
One that couldn't be sold on stock exchanges, or tampered with by banks!
Surprising what you can think up with a pot of coffee and three or four fags. I am dead cheap to run, considering some banker is likely to get paid a stupid amount of money screwing up the economy, making people's lives a misery, and the greed fueled stock market playboys in silk ties, fast cars and luxury homes when the likes of Mrs Ordinary thinks she is on a roll with a new nail polish.