If banks need bailing out, so councils need money to buy every repossessed home to stop yet more homelessness…
How does this work then? Does she really think that a house which is repossessed is then destroyed?
What happens in a repossession of course is that ownership of the asset changes. Whether it\’s a new private owner or it\’s a local authority or housing association, there\’s still the same number of houses in the country capable of housing exactly the same number of people.
In fact, we might think that a private buyer is going to get someone into it rather more swiftly than a local council would. A private would be landlord is after all motivated by profit to get the asset earning him something….likely to produce a tad more urgency than people acting without such an incentive.
Indeed, if you\’re looking for a business idea then buy to let is going to be very attractive in a year or two\’s time.
If you can get anyone to finance you that is.