That double-whammy — housing costs and stagnant wages — are now the major source of inequality in Britain.
It is tough to understate how radically this has changed the country. In 1998, most people had a shot at owning their own home. Now a full half of the population — younger people, mostly — have almost no chance of buying property.
That has created two classes in Britain: property owners and people who are getting poorer. And, of course, the poor are largely paying rent to the rich.
http://www.businessinsider.com/inequality-class-britain-property-ownership-workers-income-poorer-2017-2
That double-whammy — housing costs and stagnant wages — are now the major source of inequality in Britain.
It is tough to understate how radically this has changed the country. In 1998, most people had a shot at owning their own home. Now a full half of the population — younger people, mostly — have almost no chance of buying property.
That has created two classes in Britain: property owners and people who are getting poorer. And, of course, the poor are largely paying rent to the rich.
#housing