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AFFORDABILITY IS NOT THE ISSUE: WE NEED TO ASK WHO IS GETTING THE ‘CIGARS AND CROISSANTS’?


1 min read
15 Nov

The UK housing literature is dominated by ‘affordability’ but value for money and exploitation are the significant issues. This posts examines various affordability definitions and argues that affordability concerns assessed against market norms have generated large-scale state expenditure aimed at the contradictory objectives of enhancing affordability whilst maintaining house prices for the benefit of ‘rentiers’. Concern needs to be switched to the real affordability problem causes: a belief in the market as the rational distributor of resources underpinned by market control by a ‘rentier’ class.

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