Walsall Home Ownership Drops – Smashing Thatcher’s Dream…
The housing data for Walsall has just been released from the 2021 Census and it makes interesting reading. In 1975, Margaret Thatcher declared her conviction in a ‘property-owning democracy’. Throughout the 1980s homeownership exploded and continued to grow for several decades thereafter. What has happened to that dream nearly 50 years later?
Through prudence, saving and hard work, she believed that everyday British families should be able to purchase their own homes. Thus giving them security, self-esteem and independence and freeing them from the nanny state of local authority landlords.
Although that idea was a Labour idea initially in the mid-1970s, Margaret Thatcher introduced legislation (Right-To-Buy) in 1980 to allow local authority tenants to buy their own council homes at significant discounts. In the 1980s, homeownership boomed, although it had been on the increase for the previous two decades, the country and economy was led by Mrs. Thatcher into the direction to which house buying became a national passion.
Between 1981 and 1990, home ownership went up from 11.88m to 15.47m.Continue reading
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