The obsession that the Nation has with property may be paying dividends for builders, mortgage companies and investors alike, but the cold hard reality is that we are on the road to making many people homeless.
With whole developments now being snapped up by private companies who are only interested in maximising the level of return, escalating prices will inevitably lead to increasing numbers of applicants for social housing, whilst pushing the next occupants ever closer to the circumstances which would have led to the last tenants having to leave in the first place.
Owners may not have anything to worry about now as they concentrate on the apparently lucrative areas of today such as London. But this problem will almost certainly fan-out across the country, and will become ever bigger for as long as house prices continue to grow and people cannot afford to buy the homes which we are continually told are being built to help them. When have you ever seen newly built houses sold at a lower price than other houses in the area with comparable value?
With local authorities potentially unable to afford to house people in the very near future, the idea that having a home is only a luxury could again soon become a reality for many people. Even the remotest prospect of the return of slums in Great Britain should be sending a shiver down the spines of us all, yet politicians have far from even acknowledged the true depth of the problem.
Like it or not, Government will soon have to accept that there must be controls over the way the property market operates.
This may at the very least require formal regulation to ensure that prices can no longer be inflated by the commission on sales for estate agents; an industry that almost certainly carries a high portion of the responsibility of pushing prices upwards at every opportunity since the time that Right to Buy arrived.
However, steps are also likely to be required to freeze prices and possibly even begin to reduce them so that owning or renting a home is affordable in all areas of the Country for those who are earning a basic wage.
The money men may not like it. But the irresponsible creation of the hollow money which is being used to effectively price people out of their own homes can no longer be countered by the continuing creation of money by Government. The National Debt of over £1 Trillion is accumulating at a rate of over £5000 per second in the interest payments alone – before we even begin to consider the Deficit.
The days when politicians could keep borrowing money today and by doing so defer problems for those who will be in power tomorrow are coming to an end.
The question is, how many more people have to experience their own personal hell before those in power realise that tomorrow was a when, not an if, and that it has already arrived?
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