I watched a really interesting podcast on youtube about how the housing crisis was the 'everything' crisis. It really made sense.
The inflation of our house prices means that people can't afford to buy or rent them with regular wages. So people get top up's to their wages, we pay private landlords a small fortune in housing benefit.
We should never have increased our population by so much unless we had enough houses and public services.
I know other things have forced demand up such as more people living alone.
BTL didn't increase the supply or demand (same no of houses and same no of people) but it did change the dynamic of the market.
The UK has been pretty poor and in decline for about 50 years now. We have masked this by selling off our industries, our council houses, our gold which gave us a cash inflow in the short term. Now we have nothing left to sell and house price 'growth' which we used to prop up everything is causing lots of problems on it's own. Our police force has far less numbers than it used to have and that is to police a much higher population. This is why low level crime is rife now and not being dealt with.
The UK is currently living a lifestyle it cannot afford. We can keep going borrowing each month, paying more interest each month until it all cracks. Or we can stop now and face hardship and try and fix it. It will be ugly, it will be painful but either way it is coming. I reckon each govt will keep kicking the can down the road until eventually the markets don't want to lend to the UK anymore or the interest rates get so high it's just not viable. In the meantime our police, NHS, education will all go down hill further.
No point arguing over which welfare will be cut. Be easier and quicker to say what will be kept.
The UK pays higher interest than Greece now (remember when they needed bailed out). Well now the UK is considered a higher risk than Greece. Why because our politicians keep spending and keep borrowing. If they actually took action the markets would respond well and cut interest rates which would help. However it will take big, decisive decisions and will involve cuts to everything.
Remember it was not that long ago there was no welfare system at all or any NHS system at all. I'm talking 80 years ago. The UK has been in decline for about 50 years. We cannot afford our welfare or NHS. That's the cold hard truth. Not anymore. Everyone is shrieking about how we can't cut this and that. I promise you they can and will. The UK is not a rich country anymore. We have a small number of very rich people and the rest are average to poor. We have the highest inflation in the G7 and the worst growth. We have been identified as been the most vunerable to the Iran war because we import so much food and energy.
All these arguments about which benefits should be cut is like fiddling while Rome burns.