In response to the article posted on the National Housing Federation website.

Dear Ruth Cooke,

I have just read your article published online via the National Housing Federation, discussing the difficult balance between developing new homes and maintaining existing ones within the housing sector. While I appreciate your willingness to address the challenges faced by housing associations, I feel compelled to raise some critical questions and challenge certain aspects of your argument.

I have been stating that the housing sector is being run as a legal Ponzi scheme for a few years now, something that has always been denied and, to a certain extent, ridiculed. However, we now seem to be aligned on this issue. It is clear that funds generated from new builds are channeled into maintaining older housing stock. This cycle perpetuates the housing crisis rather than resolving it.

As the CEO of GreenSquareAccord, what measures are being taken to break free from this cycle and ensure that adequate investments are made in both new and existing homes?

It is concerning that GreenSquareAccord secured funding recently, and as part of the last merger specifically for maintaining older buildings, yet this has not materialised. As a leader responsible for the organisations financial decisions, can you explain why these funds were not used as intended? What steps are being taken to rectify this situation and address the backlog of maintenance issues?

You mentioned that the social housing sector is currently subjected to more scrutiny than ever, which is making it harder to build new homes. This scrutiny has become a requirement due to the repeated failures of many housing providers. With so many of your own residents going far too often unheard, having experienced the negative tactics used by GreenSquareAccord firsthand, it is clear that this current level of scrutiny must continue, and perhaps increase.

Can we agree that this scrutiny is required? Why is such scrutiny negatively affecting your ability to build new homes and maintain old stock? As GreenSquareAccord often attests, there is a need for transparency.

Having already secured much funding over the last five years, what strategies do you have in place to ensure that GreenSquareAccord can secure additional funding in the future? How much further funding will GreenSquareAccord require until it can function as a successful entity and remain ‘out of the red’? How much interest is being paid for all this extra funding, and what is it costing each resident? Is there a likelihood of another manager in order to secure more funding for the organisation, given the current financial challenges?

As the housing crisis continues to affect countless lives, it is crucial for housing associations to take bold and decisive actions. How do you plan to engage with tenants and communities to address their needs and involve them in decision-making processes? What innovative solutions are you exploring to break away from the Ponzi scheme effect and create a more sustainable and equitable housing sector?

I understand that these questions may be challenging, but they are essential for fostering transparency and accountability within the housing sector. We are all invested in finding lasting solutions to the housing crisis, and addressing these concerns will undoubtedly contribute to positive change.

I look forward to hearing your response and learning more about the concrete steps being taken by GreenSquareAccord to overcome the challenges outlined in your article.

Sincerely,

Ben Jenkins

CEO Housing Sector & GreenSquareAccord resident

You can should you wish download a PDF version of this letter here.