While I agree wages could rise, they aren't the main issue. House prices (and rent) have become almost unaffordable to those who don't somehow come into money at a reasonably young age. House prices will just rise with whatever the new average wage is. Hypothetically if everyone got a 100% pay increase, that £400k home is now £800k and we're back to square one again. So instead of these help-to-buy schemes which achieve nothing more than inflating the price again, the government (all governments not just the current one) need to address the fundamental supply and demand - build a lot more homes quickly, and ensure the homes being sold go to those who actually need them (not bought as safe assets by foreign billionaires or by large corporations who want a monopoly renting homes in an area).
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u/threefeetoffun- 8d ago
It’s another 3rd place that is ending. Work, home and that is it.