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Nick Cohen In The New Statesman 23 Jan 06

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Thought you might be interested in this extract:

Just so. Without cheap shelter, all kinds of ways of living become luxuries. A report in 2004 for Gordon Brown and John Prescott, by Kate Barker of the Bank of England’s monetary policy committee, gave a statistical founda-tion to Amis’s lament. Since 1974, the real prices of British houses had increased at a little over twice the rate of the European average. Periodic property market crashes had not slowed the trend, as each fall stopped on a plateau higher than its predecessor. In 2002, 100,000 people were living in temporary accommodation and only 37 per cent of new households could afford to buy, down from 46 per cent in the late 1980s.

Millions are suffering as a result. The Treasury naturally worries about the unemployed who can’t afford to pay the rents in the towns and cities where there are job vacancies. But the consequences go way beyond the economics of labour mobility. A great welter of misery and frustration lies behind Barker’s figures. Grown-up children are forced to live with their parents; women are forced to put off pregnancy until they can afford the space for children they may be too old to carry; gifted people abandon their ambitions and take a second-best career to get a roof over their heads.

In a dismal echo of the 1960s, Lord (Richard) Rogers, who happens to live in the spacious splendour of two Georgian houses knocked into one in Chelsea, wants high-density and often high-rise housing built across London. There may be a species that can happily raise families in His Lordship’s hutches, but the human race isn’t it.

http://www.nickcohen.net/?p=67

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Thought you might be interested in this extract:

Just so. Without cheap shelter, all kinds of ways of living become luxuries. A report in 2004 for Gordon Brown and John Prescott, by Kate Barker of the Bank of England’s monetary policy committee, gave a statistical founda-tion to Amis’s lament. Since 1974, the real prices of British houses had increased at a little over twice the rate of the European average. Periodic property market crashes had not slowed the trend, as each fall stopped on a plateau higher than its predecessor. In 2002, 100,000 people were living in temporary accommodation and only 37 per cent of new households could afford to buy, down from 46 per cent in the late 1980s.

Millions are suffering as a result. The Treasury naturally worries about the unemployed who can’t afford to pay the rents in the towns and cities where there are job vacancies. But the consequences go way beyond the economics of labour mobility. A great welter of misery and frustration lies behind Barker’s figures. Grown-up children are forced to live with their parents; women are forced to put off pregnancy until they can afford the space for children they may be too old to carry; gifted people abandon their ambitions and take a second-best career to get a roof over their heads.

In a dismal echo of the 1960s, Lord (Richard) Rogers, who happens to live in the spacious splendour of two Georgian houses knocked into one in Chelsea, wants high-density and often high-rise housing built across London. There may be a species that can happily raise families in His Lordship’s hutches, but the human race isn’t it.

http://www.nickcohen.net/?p=67

This article sums up the legacy of Gordon's economic miracle. Time for the previous plateau to be broken?

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This article sums up the legacy of Gordon's economic miracle. Time for the previous plateau to be broken?

Hi,

And this is a labour ("socilialst") government?!? I thought they didn't believe in such naughtiness?! About the only thing'ALbour' about NuLab is a propensity to overspend the nation into a debt nightmare. They did it last time, they've done it again. Except this time it is the treasury AND Mr and mrs. Joe Citizen. I wonder if the IMF will issue 0% credit cards to UK citizens, this time around.

Boomer

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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