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Lugh Ildánach

A revolution in affordable housing - Community Land Banks

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Article in the Guardian about a community land bank project in Tower Hamlets in London, where a co-op of 1000 locals have bought a development site and aim to provide housing to locals at 1/4 of the market value, subsidising their project by selling some of the properties at full value.

 

Essentially it aims to use the commodification of land to decommodify at least some of the land.

 

http://www.guardian....ing?INTCMP=SRCH

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Obviously the above schemes are not a long term solution to the housing problem, and unless the people who purchase the housing are restricted from selling the property on, it will only act as a form of distributism, creating a new level of owners of commodified land without addressing the underlying fundamental problems of the land ownership system itself.

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