The UK's long-standing housing shortage, exacerbated by a five-decade underbuilding of homes, is contributing to rising housing costs and the political rise of the far right. Experts argue that the only way to contain housing costs and potentially curb the far right's influence is by increasing housing supply. Higher interest rates, intended to control inflation, are counterproductive as they reduce the supply of housing while migration increases demand. The path of shelter inflation is expected to be decided in November. Bowman argued that a surge in immigration could also push up housing costs, with construction yet to catch up with demand.
"A surge in immigration could also push up housing costs, with construction yet to catch up with demand, Bowman argued." The problem is that high rates make it harder to build new housing. https://t.co/jMTkyPtH1b
The UK's five-decade long underbuilding of homes has left a housing shortage the equivalent size of London. When so many voters want more built, why is it so politically difficult to do? Get The Readout with @AllegraStratton and @PronouncedAlva https://t.co/rsyXHiniuh
Higher rates may be becoming counterproductive. The last mile of inflation is largely shelter, and higher rates appear to be reducing the supply of housing even as migration increases demand. The path of shelter inflation looks to be decided in November. https://t.co/4i8o8kdkZ7
It's not just Farage making political hay out of housing shortages >> The only way to contain housing costs, and perhaps the far right, is with more supply, writes @mbrookerhk https://t.co/1AWex5jUec via @opinion
Don’t ignore housing’s role in the far right’s rise: @mbrookerhk https://t.co/cloPBIEDew via @opinion https://t.co/oCf8n1MbJ7