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Dear John,
It’s now possible to earn more money from your house than you earn from your job. The average UK house price went up by £27,215 in the past year – that’s more than the average salary. [1] Banks and landlords are benefiting from decades of flawed housing policies, but homes are now unaffordable for a growing majority of people. It's unacceptable.
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For too long there’s been a lot of misunderstanding around the causes of the housing crisis. “Young people are buying too many avocados!” WRONG. “House prices going up is a good thing!” WRONG. Our research finds that when governments turn homes into vehicles for hoarding wealth for bankers and landlords, it screws everyone over eventually.
We believe everyone should have a safe place to call home, to build a good life. But right now our government and central bank are preventing this from happening. And young people, ethnic minority households and families on low incomes are the worst affected - many are now permanently locked out of accessing decent homes.
Our YouGov public opinion polling, which made it into the news today, shows that a majority of homeowners would be happy for their homes not to go up in value if it made housing more affordable for others. [2] And that only 1% of the public believe housing should be 'mainly a financial asset', as opposed to 'mainly a home’.
Today, we’re starting to build the case for a fairer system - one that means everyone can have a genuinely affordable home. John, the more of us who raise awareness, the more chance we’ll change things. Please will you watch then share this short video now? |
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Thank you for all you do,
Rachel, Nicole, Zack and the rest of the Positive Money team PS: This morning we launched a new report, Banking on Property - what’s driving the housing affordability crisis and how to solve it, in a webinar. Labour MP Tulip Siddiq and Conservative MP Kevin Hollinrake, the report authors and over 100 members of the public tuned in for the debate. The video of the event is on our Facebook page now and will be up on our website and YouTube channel soon. Notes: [1] Positive Money’s Banking on Property report: [2] Bloomberg: Most U.K. Homeowners Would Give Up Gains to Ease Property Market: Morning Star: Homeowners would back new approach to housing even if properties did not rise in value, poll suggests: Positive Money: Most homeowners happy for house prices not to rise
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