Photo credit: ljcybergal
The withdrawal of public funding for house building and rising rents mean more and more people are stuck living in overpriced, overcrowded and poor quality homes. Government schemes encourage people to borrow way beyond their incomes to get a foot on the ladder, whilst speculative buyers bid up prices to make profits from this dysfunctional and unstable system. NEF's work focuses on how to provide good housing options for everyone, rebalance the economy away from mortgage debt, and share the benefits from rising land prices across communities.
- House prices have risen twice as fast as average incomes over the last century
- Bank lending for mortgages has expanded from 40% of GDP to 60% since the 1990s
- The wealthiest 10% have an average of £420,000 worth of property; the least wealthy half of the population have none
Blog post // April 21, 2016
Minimum wage would be 90% higher if it grew at the same rate as London house prices More