“I think we’ve been through a period where too many people have been given to understand that if they have a problem, it’s the government’s job to cope with it. ‘I have a problem, I’ll get a grant.’ ‘I’m homeless, the government must house me.’ They’re casting their problem on society. And, you know, there is no such thing as society. There are individual men and women, and there are families.” – Margaret Thatcher
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Why are houses so expensive?
There are many reasons. To take just a few, Developers only build private housing at a rate just high enough to keep prices up and subsidies flowing, certain areas are being particularly pressured by those rich enough to own multiple homes at the expense of the local community, and – as we pointed out in our book All of Our Futures – the UK’s decision to push the burden of pensions away from the state and onto individuals has created a culture of “climbing the housing ladder” with “victory” meaning extracting the wealth you’ve accumulated through ever increasing house prices so that you can pay for retirement or, increasingly, so that you can give it to a private care firm owned by a tax-dodging hedge fund. That is, if you’re allowed to buy a house at all and aren’t destined to be one of the increasing number of private renting pensioners who face destitution due to rents and the lack of means to pay for care (something we warned about in All of our Futures but only recently being picked up as a problem by places like the FT).








