Skip to content
Subscriber Only
Marc Champion

Even Thatcher Couldn't Fix U.K.'s Housing Woes

Expanding Margaret Thatcher's Right to Buy program may gain more Tory voters, but it won't relieve Britain's dire housing shortage.
Has she still got it?

Has she still got it?

Photographer: Keystone/Getty Images

With just weeks to go before elections in the U.K., the two main political parties have delivered their manifestos, and both offer to tackle that greatest of British obsessions: unaffordable housing.

This is a genuine problem, especially in London. Sure, the city is a global financial capital and it's expensive to buy in New York City, too. But in New York the average property price is six times the average salary; in London the multiple is 8.5. Nationwide, the situation doesn't look much better: