Britain is in the grip of a housing crisis. But contrary to some Daily Mail speculators, the bricks and mortar economy is not going the way of Japan, circa 1990. Economist, Neil Wilson, explains why the same economic and political forces suppressing Japanese prices will keep British prices artificially inflated for the foreseeable future.
Why is UK housing now so out of reach for so many people? Yes, property has been a safe bet, but we ask what are the economic risks and the social side effects of ever-increasing house prices?
With rising rents, a housing shortage, record house prices, spiralling private debts, wage stagnation and rising inflation, are properties still a good place to put your money or is the UK’s obsession with home ownership going to end in economic tears?