Quote:
Originally Posted by Mancie
When introduced the right to buy was seen as a great leap for working families.. I have friends that bought good council owned houses in the mid 80's paying a mortgage that was near enough the same as the rent they already paid, and it transformed their lives.
The problem was always going to be that when the "good" or best housing had been bought up the councils were left with the not so good... this, along with the disgraceful regulations imposed by Thatcher that any money made from council house sales could not be used to build new homes resulted in what we have today...not enough council housing and no money in the coffers to build new homes.
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What was the reduction that you got? Was it 40% reduction on the price? so if it was worth £100,000 you got it for, £60,000. That's how people made loads of money - then companies started lending poor people the money to buy - the deal was when it was sold you got a cut and they, the company then owned the house of flat and then rented it out or sold it for a profit! Thatcher's got a lot to answer for!