Desperate Councils Buying Back Homes They Were Forced To Sell

With housing waiting lists higher than ever, eviction rates rocketing and stock dwindling through right to buy and the impending compulsory sale of high value housing, some councils have resorted to desperate measures. Freedom of information requests show that of the £1bn raised since 2012 to replace right to buy, £27.3m of it has been used to buy back homes sold under right to buy. The government encourages the sale of council houses by offering attractive discounts to tenants, who understandably choose to buy. The council is then faced with dwindling stocks while waiting lists lengthen and homelessness spikes. So it uses its cash to buy back the homes it could not afford to lose in the first place. Read more on the Guardian website.