Right-to-buy won’t fix Britain’s housing crisis

The biggest long-term threat to the Conservatives is neither partygate nor even the cost of living crisis – but declining rates of home ownership. As Mrs Thatcher understood, when people are able to afford their own home, they become more conservative in outlook. They put down roots in their local area and they gain a vested interest in capitalism – just look how Mrs Thatcher won and held on to aspirational areas such as the new towns. That the rate of home ownership plunged from 70.9 per cent to 62.6 per cent between 2003 and 2017 (it has since recovered slightly) goes quite a long way to explaining why Jeremy Corbyn became such an attraction for young people in the general election of that year.

But Boris Johnson’s plan to instigate a right-to-buy for housing association tenants is not the way to fix this. While right-to-buy might have been a good policy in the 1980s, the problems it created have become very apparent since.