Right-To-Buy Program At Risk. Well Duh! What Would You Expect, If Only 1/3 Selling Price Stays in Housing.

Binswood Street flats photo by Lydia is licensed under CC BY 2.0
A block of Warwick District Council flats. Inevitably some of the flats have since been purchased under 'Right-to-Buy' legislation.

So the brilliant Margaret Thatcher era scheme to buy your UK council rental home is unravelling.

Really, it only ever could unravel. With only a third of the sale price returning to fund future council housing, only cynical public housing unbelievers could imagine that one third of the value of today’s home could buy tomorrow’s public housing replacement. Read more in Sky News: Flagship Tory Right To Buy Council House Scheme ‘Under Threat’

So, okay, the Thatcherite government was well stocked with cynical public housing unbelievers who had no intention of adequately replacing the purchased housing stock. They imagined that Right To Buy would, along with natural deterioration of remaining stock, slowly let the air out of the UK Council Housing balloon until, at the end of a long, long sigh, it would flatten into a satisfactory nothingness that could no longer impede the thudding boots of the great free enterprise affordable house-building pipedream.

Thanks in good part to Right To Buy, public housing was sold and not replaced. Now the UK has a housing crisis. How big is it? Read more in The Guardian: Housing crisis threatens a million families with eviction by 2020


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