Politicians talk about getting families onto the “property ladder” in order to build wealth.
True, UK property has performed very well in recent decades, but one person’s house price windfall is another’s living cost inflation.
“For society as a whole”, the property market creates “an illusion of wealth, not the real thing.”
In the meantime UK house prices will keep falling …
#Conservatives #Housing #Homelessness
https://apple.news/AG4PIamWwS-uCnaEHVFKdbg
*This* is why Thatcher was so successful in persuading people to act against the broader common good by selling them publicly owned housing stock at knock down prices so they could generate illusory ‘wealth’ — all at huge cost to wider society, and spawning the crippling housing crisis we’ve endured ever since.
Labour had the chance to reverse this catastrophic policy in ‘97.
It refused to — instead adding fuel to the fire by privatising social housing provision.
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