Forget Brexit, it's home ownership that is dividing the country 🔵 Our housing market is a disaster zone. Since 1993 the number of 25-34 year olds renting has gone from 16% to 44% ✍️ jessiehewitson for ipaperviews
Tensions rise between family members, because of infantilised boomeranging young adults moping in their childhood bedrooms or because parents resent the expectation to pay for their child to get on the ladder or to support them as they save when they. It even causes problems between friends, with those with lower-paying jobs, less wealthy or less generous parents envying pals with better luck.
The problem has been allowed to get so big it’s hard to see how it can meaningfully tackled. But even though I can’t imagine how that will happen, I’m certain it will be because the people directly affected are coming to an age where they will start voting en masse and they will not tolerate any more fudges. No more fobbing renters off with shared ownership or forcing people to buy overpriced new build homes.
To tackle it, it needs to be acknowledged that it’s not a problem of just sky-high house prices anymore. It’s also about how much money is being taken out of young people’s pay packets stopping them from saving. If you take into account student loans, graduates earning just over £26,000 are seeing 40 p out of every £1 taken up by repayments and tax.
That is the same rate of tax that high flying lawyers and bankers pay. Meanwhile rent has never been more expensive and has gone up by 20 per cent in one year alone. The answer will involve stopping using younger workers to pay for voting bribes for older retirees and proper housing policies that involve prices going down, which will cause pain for existing home owners.
If politicians continue ducking the issue, it will become the new Brexit as an issue that divides the country and a symbol of intergenerational wealth inequality. Get it right and younger people can look out of buses and start allowing themselves the luxury of thinking they may, one day, own the homes they see.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Great moments in PC gaming: Getting so into VR you forget you're in VRVR can be fun, but it's never been that convincing to me. I've never felt transported. My brain never gave up and said 'This is reality.' Except once.
Læs mere »
How Brexit made Britain a more European country\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
Læs mere »
As the Conservative Party clings to power, its Brexit revolution has devoured its childrenThe ruling party's Eurosceptics ejected their internal enemies, only to expose their own shallowness when rhetoric crashed into reality
Læs mere »
These Cyber Monday vacuum deals are a must grab before the sale event endsForget those Cyber Monday robot vacuum deals. This is the vacuum you want for 2023.
Læs mere »
Forget Serial. My Dad Wrote a Porno proved comedy podcasts beat grisly true crimePodcasts may have gone mainstream with Serial but today, funny shows are most popular – and Jamie Morton’s dive into his dad’s erotic novel showed them how it was done
Læs mere »