Somehow, the promise has been betrayed. Just what was society - the economy - and indeed, the housing market - meant to deliver. What was the promise? Has it been betrayed?
Introduction
This article is based on a lot of reflection over the years on housing affordability, and talks I have previously given. Some statistics go back about five years, but I think the picture remains valid - I can't imagine the trends and influences would have changed that much since. I'll listen to any arguments any one wants to make.