New PM, new diagnosis of the housing crisis
Before she was fast-tracked to 10 Downing St – in one of many dramatic twists in recent weeks – Theresa May gave us a glimpse of how her housing policy might differ from David Cameron’s.
Launching her leadership campaign in Birmingham on Monday, May went further than Cameron has ever done in describing the the damage that house price inflation causes:
“…unless we deal with the housing deficit, we will see house prices keep on rising. Young people will find it even harder to afford their own home. The divide between those who inherit wealth and those who don’t will become more pronounced. And more and more of the country’s money will go into expensive housing instead of more productive investments that generate more economic growth.”