[Edit] I had the archive link as a comment but this has gained enough traction that it's not obvious. Here it is again so you don't have to give FT any clicks https://archive.is/ypkln
Invest into social housing and ban so-called "affordable housing" lettings.
We'll continue to be stuck in this downward spiral.
The problem is, everyone in power is a landlord or otherwise benefits from the current system, so nothing changes and we continue circling the drain as a society.
agree with this and would add that the privatisation of social housing needs to be ended by abolishing the right to buy before real investment into it can be started
This is something I'd wish the next government would do. Seriously how hard is it to build? Bust through the bullshit planning restrictions and build houses that people want to live in.
The house building companies already have vast amounts of land they own with planning permission in place. They restrict the amount of housing they build to artificially keep the prices high, if they build too many, the prices they could sell their houses for would drop, reducing profit. These are private companies and the government has little control over them. This is why every government for the last few generations has promised more houses and delivered nothing.
Unfortunately the solutions are opposed by both sides, as lefties are arguing points about house building not reducing costs which doesn't stand up to scrutiny.
If we build a million McMansions, they won't sell for £500k+ due to oversupply.
"Affordable housing" is just basically building more at this point, the reason you can sell ex-council houses for over £300k is because, as the article you didn't read says, 1 in 200 are homeless due to insufficient housing.
Why not. Walk around San Fransisco. There are multiple streets alternating from full of homeless people to upscale housing and hotels. Never seen that in the UK.