Well, the government’s ideology will not allow them to take up this approach. It would buck the trend of the last 30 odd years, the so called ‘property owning democracy’ introduced by Margaret Thatcher. But as we see, this applies mainly to selling off public housing to private landlords, not the tenants in the long run, and has led us directly to the crisis in housing we have today.
When the market has failed so spectacularly as it has with housing, what we do not need is more market. It only makes sense viewed through the prism of neo-liberal ideology, when plain common sense tells us it is all nonsense.
Expect things to carry on pretty as much as normal, with increasing numbers of people being priced out of housing in some areas, as the gentrification of former council estates carries on, in an exercise in class cleansing of London and some of our other bigger cities.
Where all of the essential low paid workers will live, is anyone's guess?