An end to right-to-buy?
Speculation is running rife that the Government are due to announce an end to the right-to-buy Council and Housing Association properties.
Quite right too. It has resulted in public subsidies to allow the less well-off to get a first step on the property ladder into a public subsidy for the buy-to-let market.
Too many people have made a nice profit on their properties (which I'm not begrudging), but instead of this being reinvested into new houses by the Housing Associations it has funded a property price boom, with some children being encouraged to get onto the lists for new houses just so the parents can fund the purchase of the property and reap the expected gain.
The number of ex-HA properties in Stornoway that are rented out illustrates the scale of the problem and the abuse that has happened.
All in all it promises to be a major step forward, as long as it is allied with additional funding to provide the means to deliver all the aims.
Quite right too. It has resulted in public subsidies to allow the less well-off to get a first step on the property ladder into a public subsidy for the buy-to-let market.
Too many people have made a nice profit on their properties (which I'm not begrudging), but instead of this being reinvested into new houses by the Housing Associations it has funded a property price boom, with some children being encouraged to get onto the lists for new houses just so the parents can fund the purchase of the property and reap the expected gain.
The number of ex-HA properties in Stornoway that are rented out illustrates the scale of the problem and the abuse that has happened.
All in all it promises to be a major step forward, as long as it is allied with additional funding to provide the means to deliver all the aims.
3 comments:
you can bet most of them dont pay tax on the B2Ls either.
Bit economical with the facts no doubt to raise discussion. The intention as i read it was on people moving into new build homes only. the right to buy the home your in would remain.
Why is the blog so quiet today Angus??
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