You will have seen how i bang on about how unsustainable mortgages are and how social housing is the answer many times . Today a our local Conservative councillor Kevin Lancaster called at the farm canvasing for the local elections .So i asked him why the Conservatives were wanting to sell off Council houses as i thought they were the answer to this country's economic mess ( cheap rent ) His reply knocked me for six.....
Most council houses built after the war still have mortgage's on them today because the Government hasn't spent the rent money on paying them off . They have spent it on improving the houses or just other government spending in general . And it gets worse because this debt is spread country wide amongst our local councils . Who knows how much is still owed . No wonder they want to sell them off .
So social housing is bogged in an unknown debt disaster ; far worse than a private mortgage ! My social housing house may never be paid off ...... SORRY How quickly things change....
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