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In the UK, since the early 1980's, it has been considered political suicide by a succession of both conservative and labour governments to not give money to the
by inflatableDodo 7y ago
In the UK, since the early 1980's, it has been considered political suicide by a succession of both conservative and labour governments to not give money to the middle classes in the form of large increases in the value of their homes. This is one of the main reasons we have built about half as many houses as Canada since 1980, while having around twice the population.
- ZeroFries 7y agoWouldn't this only work as a method of increasing middle class wealth if you owned 2+ properties? Otherwise, you have to live somewhere. You can't sell your house and unlock that wealth increase without spending it all on the next place to live.
- inflatableDodo 7y agoPeople became obsessed with their home valuation. How much more money your house was worth since you bought it became one of the main methods of social boasting for decades, regardless of whether you were actually able to really profit from any of it.