Monday, 10 March 2014

Why do we accept the language of success for high inflation?

The Cabinet, the City, the construction sector are all at pains to celebrate the rise in property prices as representing "recovery" as London and the South-East housing sales prosper. Double digit percentage house price rises are hailed as evidence of good news for the economy.

But hold on - let us explore the reality here. Is not the real truth that the South-East is experiencing inflation, at a level which in any other sector would be regarded as near disastrous and which would lead to Tories clamouring for wage cuts for lower paid workers?

Then there is the Princess Royal adding her two pennyworth, using her enormous insight into the needs of rural people to reject the building of new towns in favour of infilling villages and market towns whose transport and schools infrastructure are already inadequate; where there are few jobs; and house prices and rents are uncontrolled.

People in rural areas of the South-East are infected by the London bubble as the capital's real estate is mopped up by non-resident rich, leading those whose work is needed to buy in an ever-widening radius just for affordability. Such jobs as there may be in the areas affected are increasingly out of reach of workers forced themselves to move away to lower-cost towns, from where travel is rarely easy.

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