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No it isn't - I'm well aware UK income inequality is high, whereas wealth inequality is quite low. That's why I said "wealth inequality", and that Thatcher impr
by dukeyukey 3y ago
No it isn't - I'm well aware UK income inequality is high, whereas wealth inequality is quite low. That's why I said "wealth inequality", and that Thatcher improved it. Right-to-Buy basically made home ownership vastly more accessible to the working class in a way that hadn't happened before. It's bad that it coincided with an economic reworked that we're still recovering from, but I can't discuss everything in every comment.
- ben_w 3y agoI'm not sure how much the right to buy directly increased wealth vs. the lack of subsequent council house construction which changed supply vs. demand and drove up the market prices for all houses. To me, house price inflation feels like all other inflation: the number may be going up, but people aren't actually better off for it.
- kranke155 3y agoPretty much. Right to Buy made her popular, and made a single generation of people richer, but at the cost of destroying the housing market in the long term.