The Housing Act 1980 was the big bang, the origin story for Normal Island. After World War Two Britain was desperately short of housing stock. State action, by both Tory as well as Labour governments, got homes built. Even in the 1970s work was ongoing, bomb sites were still being cleared. The 1980 Act, however, promised council tenants the right to buy their homes. In time a gigantic amount of equity was released. By 1986, financial markets were deregulated and this equity could be traded with greater ease and velocity.