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“Playing the housing market was thrilling and lucrative, right up to the point at which it became impossible” © Joe Partridge/ Rex Features

A generation ago, the financial journalist Patrick Hutber declared that no class had ever been “so complicit in its own demise” as the middle class. In the 1970s, the middle classes were battling against high inflation and punitive levels of taxation. Since then, successive governments have claimed to act on their behalf. Yet today they find themselves priced out of the suburbs they grew up in, their…

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