Quote Originally Posted by keithAngel View Post
I dont blame anyone who got on the property ladder this way .

The problem as I see it was twofold

Artificial scarcity drives up prices, for example a three bed terraced house in Totnes valued at £168,000 has a rebuild price for insurance purposes of £66,500 meaning over £100,000 is "created" in value in the "planning permission" which is controlled by a combination of Central and Local Government without regard to everyone's need to live some where, and with no actual wealth having been created.

Second the money from those sales was not applied to creating the next generations right to do the same hence the near impossibility for non sub-prime mortgages for first time buyers which leads us to the mess we are all now in
Quite right, if 100% of the money from the sale of council houses had been ploughed back into building new coucil houses and had continued on that basis it would have gone a long way to preventing the starter home housing shortage that drove prices through the roof. Unfortunately the Thatcher government inherant hatred and distrust of local authorities combined with their free market, devil take the hindmost ethos ensured that they would not be allowed to spend this money in such a way.