Britain’s Government Sponsored National Housing Ponzi Scheme

This all sounds a bit familiar here in New Zealand...

This bill will reduce the total number of affordable homes in the backdrop of a rising population, it also encourages ever more property speculation, as if it needed it. Margaret Thatcher’s housing policy legacy was to sell off over four million council homes where 40% ended up being in the hands of private landlords.

The result of all this political meddling? A housing crisis where nearly two million households (families, not individuals) are on waiting lists for a council home. Home ownership is now plunging. Debt is soaring just to keep the family above the waterline, homelessness has now risen 300% in five years, poverty is escalating, child poverty with it. One third of Britain’s children will live in poverty by 2020 – thanks in large part to housing.