My next door neighbour reports that when he bought his house sixty years ago, its price was £1,300, repaid over 25 years.
When we bought our house just over fifteen years ago, we paid a hundred times that. An eye watering price for a young couple on low incomes, but we would have had to spend at least double that had we stayed in London.
Today’s prices are, to me, mind blowing. I don’t know how any young couple could now afford to buy at all. We were lucky in being able to buy a shell of a house, its price pushed down by those missing essentials, central heating and double glazing.
The cost of living is a real conundrum. Prices are not set up to benefit ordinary people, just trying to make ends meet. If anything, the system forces people into a form of slavery.
Once you have a mortgage, you’re stuck with that job of yours, no matter how much you hate it. There’s no way out, if you wish to hold onto your home. The only way is up.
I don’t know if those millionaires in power really understand how truly broken the system is. Well, perhaps they will soon enough.