Where to go?
Overshadowed by the inflation figures yesterday and then by the fact that house prices are still rising, the figures for rental prices were the really worrying ones.
Rents are rising by 5.1% a year, they are already far too high. The problem is low supply and high demand allowing landlords to hike their prices. The shortage of housing is not just a matter of stopping people buying a house, it means many more have to rent and the rents are so high they cannot save for a deposit.
The social and generational damage is awful, but merely on grounds of productivity this needs to be solved. People who cannot afford to live where they are needed to work or cannot move for better jobs damage their own prospects and the country’s productivity.
An army of Nimbys is undermining the economy and no one will stand up to them.
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Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media