Jacob
What goes around comes around.
A lot of it ended up as rental properties but badly run without the back up of the resources of the local authorities.It was a great idea and a way to offload rentable housing stock to people who wouldn't have been able to own their own home any other way.
Those that didn't buy stayed put and formed "sink" estates of the less well off and otherwise troubled.
The money raised by the sell off was not put back into housing - whch was basically the cause of the massive house price inflation with which we still are living.
It created the housing crisis now with us. A massive cost as it is and will cost even more to put right.It was pronbably cost-effective too, as all the maintanance costs for the councils were gone.
"The selling of council housing was an absolute scandal that should never have been allowed. People had council houses because they could not afford, or get , a mortgage for whatever reason. The councils were made to sell the houses at heavy discounts and were not allowed to reinvest the money in more social housing."
https://www.theguardian.com/society/2022/jun/29/how-right-to-buy-ruined-british-housing
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