Hi!
Above points are all valid of course...
'IF' this idea works and gets more and more popular, I see more benefits than disadvatages.
Those previously not even able to think about housing will actually have an option to do so, jobs will be created, 2nd tier jobs will be created/increased demand (maintenence, plumbing, decorators, milkmen's rounds, nearby shops etc) communities will be built up and so on.
there are of course drawbacks - hopefully those of the C, H, A, V, variety don't overrun the blocks, noise, longetivity etc. and of course the current 'blandish' looks.
But I think the biggest advantage is that compared to the other ludicrous 'solutions' touted - 5+ salary mortgages, half buy and half rent, buy with a friend etc - this method of building cheaply, offers more potential for more people to actually get on the 1st step of property ownership in the UK. If demand gets closer to supply, wouldn't more of the UK population actually be able to 'progress' than currently ?!
I wonder if they'll build me one so I can plonk it in my back garden .. and rent it out!

Cheers! DtM! West London UK!