It’s not subsidised. Private rents are the ones that are subsidised. There are literally private landlords having their mortgages paid by the taxpayer
Here we go again with the ignorance that sprouted on MN on a regular basis! Do you k ow that the very vast majority of landlords own only one rented property? That the majority still paying for a mortgage also work and pay tax. That rental income is now taxed as income tax, which means most pay at least 20%, the majority at 40%. That landlords make it perfect for the government. On one hand, they get easy tax money, on the other, landlords now can't even ask their tenanys to leave, even if they are shitty tenants. Win win, money coming in, reduced reliance on social housing.
This means that for many landlords, there is no more incentive to be a landlord. Hardly any profit after all cost and tax are considered, yet a lot of added trouble. So what happens? Landlords sell... and there is more need for SH after all.
Make social housing for everyone... no incentive to rent and even no incentive to buy if SH means reduced monthly rent (and less than mortgage payments) yet it is your property for life!
Only issue... Less landlords, less tax coming in, fewer buyers... Less tax coming in... Oh wait, not enough to build SH properties yet more desperate demand....
The naivity of people is staggering! They just want it easy for them. Don't we all want the perfect spacious modern home, low monthly payment, security for life. Sadly, it doesn't come for free!