The government has created a housing bubble that presents an illusion of growth, in order to put forward a pre-election myth of an economic miracle. Isn’t it sad that it seems the best thing for the future of our country would be for that bubble to burst, with all the accompanying misery that would entail?
There are around 5 million people on social housing waiting lists. 48,000 people are homeless. In 2012/13, house building rates were at their lowest for 100 years. Rents have increased 35% in the last five years and 1 million homes lie empty in the UK. So why is the government not doing anything about the housing crisis?
The ‘bubble’ of growth taking place in the UK is a FIRE bubble – built on Finance, Insurance and Real Estate.
It is not being created by jobs, widespread spending or increase in trade.
The bubble is instead, for it’s meagre count and vast ineffect on a majority of the country, built largely on rich people buying expensive houses in London. It is unsustainable and does not mean growth for anyone but the already well off, as the have-nots are priced out of housing, either as mortgages or…
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