The expense of providing housing benefit is high than the expense of providing council homes that have been available off cheaply
How shocking it’s which house ownership is currently at its lowest because the “appropriate to buy” for council tenants was introduced inside 1987. Its aim was to create Britain “a country of property owners”. No government has completed much to interfere inside the course the property marketplace has taken because. It’s fair to state this policy may today be retrospectively analysed to receive a very obvious pic of exactly what it has accomplished. Not its actual aim, unluckily.
But it may boast it has prepared alternative changes. Rented council property is simultaneously more stigmatised plus more inside need. Private rents are high, plus occasionally paid for below housing benefit, that is higher priced than the cost of providing housing including which that was available off thus inexpensively. And a property market with these issues of supply plus need, which even the bursting of the largest property-price bubble Britain has ever recognized, has not lead to the painful deflation which might need to arise were Britain to receive back about track to becoming “a country of property owners.” And Westminster council is placing up homeless families inside £700-a-night hotels, considering it has no alternative today which housing benefit is capped. Best to buy hasn’t gone awfully effectively, I’d state.
Personal finance plus funds information, analysis plus comment | guardian.co.uk
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