Monday, October 22, 2012

But inflation is under control right?

Extra 10,000 working people a month reliant on housing benefit, says report

The number of working households forced to rely on housing benefit since the recession began in 2008 has doubled – a trend that will lead to a million earners being dependent on welfare to keep a roof over their heads by the next election, according to a report. As private rents rise faster than wages, another 10,000 working people a month need housing benefit to afford their rent. By the next election, the study warns, 1.2 million "strivers" will only be able to stay in their homes through welfare payments. The federation's analysis is that housing is becoming unaffordable as supply is outpaced by demand. The number of households in Britain is growing three times as fast as the number of homes being built.

Posted by richy richless @ 12:41 PM (1202 views)
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One thought on “But inflation is under control right?

  • What I find incredible about this, is that this feeds back. It is a self-sustaining trend. Rents go up because of the pump priming of the UK money supply by the government, this pushes rents as a share of income up making tenants eligible for benefits, the government then borrows/prints the money to supply the housing benefit, then the rents go up again…

    Disaster. How stupid and so blatant to drive housing prices.

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