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Scoop.it!
Rather than revive the policy that lost 40% of council homes to private rentals, Johnson should build more affordable housing, says Peabody housing association chair, Bob Kerslake 
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Scoop.it!
One former council tenant bought their home for £8,000 and sold it on for £285,000 nine days later.
Graham Watson's insight:
The Right to Buy Scheme was introduced by Mrs.Thatcher in 1980 and was designed to get council house tenants on the housing ladder. I should know: my grandparents bought their house this way.
However, there's an argument that the distributional consequences of the scheme are grossly unfair, and helping exclude young people from the housing market, as older home-owners have been able to snap up the most desirable social housing and make significant profits as a result.
Is it time for this scheme to stop? And factor in the effect of QE on asset prices - including house prices - and you can see how its difficult to get on the housing ladder.
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A brief summary of why yesterday's housing announcement won't work - it fails to tackle the fundamental issue which is the rate at which new houses are being built.
In short, my cynical take is that the purpose of the policy is to continue to support the housing market, and prop up house prices.