Magazine

The way we were in 1981: Housing

Margaret Thatcher's right-to-buy policy and the Housing Act of 1980 that allowed council tenants to buy their homes contributed, in part, to a boom in home ownership. By 1981, the 1960s "baby boomers" had come of age and found it easier to get mortgages as lending rules were relaxed. Those who would have once rented decided to buy, and thousands more bought to let. The 1989 recession and rising interest rates prompted a slowdown.