Issues of money are of no concern to Labour-run councils.
Catherine West, leader of Labour-controlled Islington council, asked about the issue of the almo returning to direct management, opined that she was minded to retain the status quo because it "gives us the opportunity to build".
Islington is carrying a £820m debt on its housing revenue account.
Social housing represents 70% of the housing stock in the south of the borough, and 50% overall, against a national average of 12%.
At May's election, West secured 35 seats, while the LIbDems dropped to just 14.