Thanet District Council says 1,600 families were on its waiting list for housing.
Thanet District Council agreed the purchase of 42 homes in Ramsgate to help deal with increasing demand for social housing.
Speaking to BBC Radio Kent, deputy leader of TDC Helen Whitehead said: "We've had over a 60% cut in funding from central government over the last decade which equates to £8m. Ms Whitehead described private rental costs in Thanet as "extraordinary" and said the cost of doing nothing would be far greater, both socially and financially, than any outlay to buy more properties.The authority said funds accrued from residents paying rent for social housing would enable it to buy more properties and increase it's social housing portfolio to help struggling locals.
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