We all know the housing market is completely overheated. Most people on below and average incomes are really struggling to make ends meet. More and more young people are relying on the Bank of Mum and Dad just to pay the rent, and others are maxing out credit card to avoid going into arrears.
For many years, governments of all persuasions have stepped in to build low cost housing for those who could not compete in the housing market. Under the Conservative Prime Minister Harold Macmillan up to 400,000 council houses were build each year. These were not the years of plenty as Britain was still recovering from the 1939-45 world war.
So here we are again, with a housing crisis every bit as bad as at any time in living memory. What does the government do? It’s spends four times as much subsiding housing for the better off, with just 21% of government investment going to provide housing for those on the lowest income.
The Chartered Institute of Housing has revealed that £32 billion helps middle and high earning households get on the housing ladder. Some of these households are not those described by Theresa May as the “just about coping”. Some are doing very nicely, thank you very much, benefiting from government subsidy.
Meanwhile, according to the National Audit Office this week (13th September 2017), there has been a 60% increase in households in temporary and permanent accommodation since 2010/11. That is 77,000 households including 120,000 children. But they are the poor and they don’t really matter in our wonderful property-owning democracy.