Couldn’t agree more.
You know a country is in trouble when a shed in London is more
expensive than a house elsewhere. See link at the end.
Problem is employers won’t pay a decent wage so workers have to
claim benefits to supplement wages.
Landlord hike up their rents knowing that benefits will pay what the
renters can’t afford.
Then people buy houses above their real means as they forget that a lot of
their income is from benefits. So the house prices increase as demand
increases in the better areas both for buyers and renters.
Then the government says “hang on a minute we need to reduce the
benefits bill”. So they change the rules and suddenly the combined wages
and benefits, no longer cover the costs. Houses get repossessed, people end
up homeless, living in bed sits or moving to poorer areas, so those prices
increase too. Then suddenly there is nowhere affordable to live anymore.
That’s my take on it I’m sure there are other factors, but basically wages are
not keeping up with the cost of living, especially the cost of housing.
https://www.bbc.co.uk/bbcthree/article/6487ef29-75c9-4f93-8c0a-326f6f056ecd