Gregory's Server@tmstreet @Christo @QasimRashid Well making the place you live in into a ponzi scheme investment that's such a huge part of the economy that we can never allow prices to become more affordable ... isn't going to end well.
Young people (and early middle age people!) mostly rent.
Even when I had the money, and I'm relatively privileged, "investing" in the housing market always seemed utter madness.
Nowadays, after 5 months unemployment, and 6 months last time, the reality is as somebody with niche skills I'm going to have to rent for the rest of my life.
Arguably it isn't a lack of supply. Comparing the UK housing market to other countries with much lower rents and house prices, supply is similar. Though it may not be ideally distributed.
So the argument is that rent controls could solve the housing crisis. Prices would fall, landlords would sell out, government could cheaply buy up rented homes and rent them at social rents. But a lot of people would be in negative equity, and banks would look very shaky.
@tmstreet @Christo @QasimRashid As regards intergenerational issues, the problem is Thatcher/Reagan economics, and the people who vote for parties that promise it.
In the UK, that's everyone. There are no Keynesians in mainstream parties, let alone modern policies such as degrowth. Yay for First Past the Post!
In spite of left wing policies being popular, and the right grossly mismanaging the economy for 14 years, there are a variety of myths that the left are somehow bad with the economy, and even that they somehow caused the 2008 financial crisis (tell that to the many US banks who failed first!).
Unfortunately in the UK, there's a strong correlation between vote and age. Independent of education and class. Class in particular makes little difference when age is factored out among white UK voters, while education is very closely correlated with age. On the other hand, race is still a significant divide, as in the US.
Either way, turnout is a problem. And pandering to the right, especially on cutting green policies (here) and Gaza (both US and UK) risk further reducing an already worryingly low youth turnout.
@tmstreet @Christo @QasimRashid As regards intergenerational issues, the problem is Thatcher/Reagan economics, and the people who vote for parties that promise it.
In the UK, that's everyone. There are no Keynesians in mainstream parties, let alone modern policies such as degrowth. Yay for First Past the Post!