Home Ownership Is Plummeting.

This is a complete tragedy. I may not have agreed with the selling off of council houses at knock down prices under Margaret Thatcher but I did not mind them being sold off at a competitive and reasonable price. The principle gave a boost to countless ordinary families and furthered Margaret Hilda's aim to have a working class that wanted to become, and would become, middle class.
Contrary to what so many economists want - houses should be homes - not clever investments. But when house purchase today will often require impossible mortgages at five, six or seven times salary - clearly, something has gone badly wrong.
Sudden and dramatic surges in population numbers has to mean that housing supply must fall. Then, it is the law of supply and demand which kicks in. If there were enough houses for all at reasonable prices - we would not be in this mess.
Owning your home means that ordinary people have a stake in our society. No longer.