Chatterati excitement this weekend leads me to struggle as where to begin on the subject. Maggie's thinking was that house ownership was the preserve of the middle-classes and a stake in a house was a desirable and aspirational thing. Her hopes were that council house sales would build individual asset wealth and release funds for the genuinely needy. Sadly council bosses saw this as a milch cow and diverted much of the revenue into fat salaries and new offices, amongst other things.
Then along comes the socialist doctrine from both stupid UK political dinosaurs. The Tories set about abolishing mortgage tax relief, seized with delight by the Labour lot. Immediately saving for a home became tough. Then we attack family life and married couples allowances, bring in mass immigration and stoke a consumer boom to chuck away those house assets, willy nilly. This same consumer led and insatiable tax grabbing , bank profit fuelled life-style has us now wringing our hands about the sexualisation of kids.
Furthermore, how can 0.5% savings rates build the huge deposit costs needed?
The Continental model is trotted out as the way to go. Well, this leads to a landlord utopia of massive wealth held by a few again. It also provides a weapon every bit as powerful for the elite as any mortgage debt. Unlike Europe we have a drug and alcohol binge culture and an associated educational failure whereby even finding money to pay rent will prove worse than anything we have seen so far. With millions desperate to find a home the demand will enable defaulters to flood the streets in numbers unprecedented.
I regard myself as more independently minded, politically, as I age but the Oldrightie handle still applies. That is, aspiration aided by good education, responsibility to oneself and to others and a time and place for partying, not every bloody day. The hated word "aspirational" is now the remit of Big Brother and the State. Home ownership and control of one's income is not what "they" want. It's too independent, is that. Ideally large barrack blocks are ideal, as shown below. Have a great weekend.
Entrance to a housing complex of the future, or even next year. Click on the link.