What has happened to all of our state houses and pensioner flats?

There was someone once very wise, who seeing a need in our great country, used some of our taxes to purchase and build both state houses and pensioner flats for our elderly. There was a small amount of rent on all these properties which paid for the staff to manage this housing and to get any repairs done.
The money the was left over went into buying more housing to house our growing nation. As we paid for the original houses, I think these homes were owned by all New Zealanders. The rents coming in meant there was no any need for further public funds, it was self sufficient.
These were and asset of all New Zealanders, and belonged to us. Entrusted to either council and/or government department. They have been and still are being sold off to private owners. Who sold all these homes off? Why are they still being sold in spite of the massive housing shortage? Where has all the money from these houses gone?
D. Woodward

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