A survey found that two-thirds of the councils managing over 870,000 homes face financial viability issues, risking their ability to balance budgets by decade's end.
93% of councils reported financial stress in their housing budgets, with many taking substantial measures, including resorting to emergency fund access to cope with the crisis.
61% of councils have canceled or delayed housing projects, while 71% anticipate further abandonment, reflecting a significant scaling back of commitments to housing development.
Kieron Williams from Southwark Council stated that the financial challenges stem from capped housing-related incomes and rising costs compounded by frequent governmental policy shifts since 2010.
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