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Right To Buy: Trickle Down Or Water-Cannon Up ?

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Right to Buy: 40% of homes sold under Government scheme are being let out privately

Figures released by 91 councils in England under the Freedom of Information act show 37.6 per cent of flats sold to tenants under the controversial policy are being sublet at up to seven times the cost of average social rents....

Following a steady rise in the supply of affordable housing from 37,470 a year in 2004 to 60,480 in 2010, a sharp decline resulted in the availability of just 42,710 affordable homes last year....

Betsy Dillner, Director of Generation Rent, said: “Right to Buy is a perverse subsidy that worsens the overall situation of the poorest in society. Many of these properties are home to tenants who would qualify for social housing but pay vastly higher market rents that have to be covered by housing benefit, costing us all.

“If the government really wants to promote the dream of home ownership, they know very well that investing in the expansion of social housing would prevent prices running away from millions of aspiring home owners. Instead we see them again pursuing dangerous policies for the benefit of a few.”

Housing Minister Brandon Lewis, one of more than 150 MPs earning at least £10,000 a year each in rental income, said: “More council housing has been built since 2010 than in the previous 13 years. However, it is important that councils make the best use of their assets and manage their housing stock as efficiently as possible. So it is right that as high value council homes become empty they should be sold to fund new affordable housebuilding in the same area.

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It was a bad idea. I know one person who benefited from it, but then he sold up and moved abroad.

It is very silly to replace publically rented housing at a reasonable rent, with housing benefit for those that can't afford the private rent. And the "benefit" is all the landlords. :blink: That is my opinion.

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It was a bad idea. I know one person who benefited from it, but then he sold up and moved abroad.

It is very silly to replace publically rented housing at a reasonable rent, with housing benefit for those that can't afford the private rent. And the "benefit" is all the landlords. :blink: That is my opinion.

So what was the original intent - an ill-thought out election bribe or a conspiracy theory with vested interest looking to snap up some bargains ?

If the intention was to try to make things worse, it could be judged a stroke of genius.

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Housing Minister Brandon Lewis, one of more than 150 MPs earning at least £10,000 a year each in rental income, said: “More council housing has been built since 2010 than in the previous 13 years.

Although no matter how tiny any improvement is beneficial but in reality the difference in council house building is miniscule (apparently from near zero to a couple of thousand a year or so) and under the last government they continued the post economic crisis trend (after 2007/2008) in helping to build a record low number of new houses each year in total.

Of course the current govenment's house price and new house building record remains to be seen but they were in charge of the last (coalition) government and its record on house prices and new house building was abysmal.

It doesn't do the current government any favours for him to so blatantly spin and mislead.

Edited by billybong

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So what was the original intent - an ill-thought out election bribe or a conspiracy theory with vested interest looking to snap up some bargains ?

If the intention was to try to make things worse, it could be judged a stroke of genius.

A bit of both really, as most MPs seem to have a bit of a "portfolio", as they call it.

If it the original purpose, was to turn us into a capitalist property and share owning democracy, it sort of worked, but the cake is not split evenly, and fewer people seem to own all the shares and property.

Welcome to the world of highly leveraged BTL portfolios, and Wonga loans.

Debt is everywhere.

Something went wrong. :wacko:

Edited by MrPin

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So what was the original intent - an ill-thought out election bribe or a conspiracy theory with vested interest looking to snap up some bargains ?

If the intention was to try to make things worse, it could be judged a stroke of genius.

It was just (a very effective) election bribe

Interesting to see if this has legs. ex-council flat that has made headlines this week after being sold for £1.2m

http://www.theguardian.com/commentisfree/2015/aug/14/right-to-buy-scheme-disaster-housing

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