Local Authorities might buy back houses

[kyser_soze]

Easiest thing for the govt to do is what any canny investor would do - wait until the developers tank, get the properties at firesale prices, and finish the developments off and huose people, or just start CPOing existing stuff and buying it back at cost - even if the developers don't want to, the companies that put the money up may well be up for it given the fact that the stuff won't sell...

There are LOADS of ways this issue can be approached, both by govt and developers. For my money, the most important thing is to stop lenders repossesing famliy properties first, then (and this will be contraversial) means testing other over-extended debtors and taking a view. How this is done - rent-to-buyback or something else...

 

[geoff64]

It's not being given away free if it's in exchange for some social housing.

the land is 100% public. the govt won't let councils build social housing. But, the land can be given free to private developers (not leased, given), in exchange for which 50% of the housing is social. aside from the argument about what "social" means under this govt (like "affordable"), it's a shit deal for the public.