A leading think tank has called for the UK to build more houses in order to cope with the current housing crisis in the UK. Arguably beginning in the mid 00s, the burst of the housing bubble has made it all but impossible for a new generation of professionals in their 20s and 30s to get onto the housing ladder. Rent prices are reportedly going astronomical in 2013 and landlords are making a big fat profit.
The average person is losing out in this housing debacle and benefits cuts are leading to a new crisis of homelessness across the UK, with more people sleeping rough and food banks pushed to breaking point. This is particularly acute when more and more reports are detailing the numbers of children who are going hungry at school.
Charities campaigning against poverty have pointed out that the only meaningful way for the government to reduce poverty in the UK is to force employers to pay above the current average in the UK – that means raising the minimum wage from £6.18 an hour.
Meanwhile, Chancellor George Osborne has made vague promises to build new housing in the UK. He has made looser planner regulation an important part of his platform. But not everybody is happy about this promise from the unpopular Chancellor.
The debate over where to build will always be a perennial problem with the ‘nimby’ attitude rampant and those keen to solve the housing crisis butting heads with those who understandably want to preserve what little greenery England has left.
The IEA has reported that new build housing could bring housing costs down as much as 40%. A dramatic reduction of this kind would certainly open the door for many people who might have given up dreams of ever owning a property. Companies such as www.riftuk.com can help with the taxation side of buying a property.
Owning your home has become a symbol of ‘arriving’ as a serious adult in the UK. Not every culture has such a strong tradition of home ownership, which has led some in the UK to argue that perhaps we put too much onus on owning property as a society. By contrast, Europeans are less likely to find property ownership so important.
Young people are the most pessimistic about the situation, especially the generation that graduated university after the financial crash. A survey found that most people between the ages of 18 and 30 believe that they will never be able to afford to buy their own home at all.