This is an odd thing for an economist to say:
If houses could be bought relatively cheaply, it was because local councils once provided \”social housing\”. Council houses were sold off by Margaret Thatcher – leaving housing entirely to the market,
Flogging off council houses increases the supply of houses that can be purchased. Other things being equal (which of course they weren\’t, I\’m looking at this one single point) that would make houses to buy cheaper, not more expensive.
Then again, Irvin is an \”economist\” at SOAS and they do things differently there.