What has actually changed is that thirty years ago, the ratio between house prices and average earnings was about 4. By twenty years ago it had doubled and, most importantly, it has been at that level ever since with no real sign of dropping [1].
This is a structural change. We now have at least one, and perhaps two, generations of people who can't really alter their economic situation through hard work. That's the classic recipe for populism to thrive.
This is a structural change. We now have at least one, and perhaps two, generations of people who can't really alter their economic situation through hard work. That's the classic recipe for populism to thrive.
[1] https://www.schroders.com/en-gb/uk/individual/insights/what-...