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The housing crisis is the result of a collective delusion

It has become a national myth that rising house prices are good

By Julian Baggini  

©Anthony Devlin PA Archive/PA Images

The housing situation in the UK is absurd. Hardly anyone who doesn’t already have a house can afford to buy one. The ONS reported last week that “a quarter of neighbourhoods in England and Wales were off-limits to many prospective homeowners last year because average income in these areas was below the level needed to buy an entry-level property.” Sadly, renting is hardly an ideal alternative, with properties expensive, insecure and often poor quality. Countryside reported last year that workers under 30 pay almost…

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