16 June - When did it all go wrong?
We have come a long way since I saved £5 a month in The Lambeth Building
Society for a couple of years before they agreed to lend £3,100 to spend on my
first house. £3,400. What the hell has gone wrong since then or even since the 1990s?
My daughter bought her council flat for next to nothing thanks to Mrs. Thatcher
and has never moved house since. In the mid-1990s I gave my son £10,000 to
enable him to buy a house in the level above what he could afford. Imagine that! Ten grand could elevate a house
purchase into a much better quality abode and it has kept him ahead of the game ever since.
I have no idea how people manage now but I do have an inkling of the discontent
felt by younger people. The housing situation is a disgrace to every politician
who has had a hand in it. (Pretty much all of them.) Ditto the economic situation. One can only blame
politicians and perhaps the Bank of England too. Jeremy Hunt is a
thoroughly incompetent and callous Chancellor but would Rachel Reeves be an
improvement? It is hard to imagine anyone worse than Hunt.
Bexley Labour is claiming that the interest rate rises will cost local residents
seventeen million pounds in additional mortgage costs now and more later.
Click image to read Labour Press Release. (PDF)
As a lapsed Tory I do not see how we can get out of the mess but there will be big trouble eventually if we don’t. Politicians are more interested in birthday cake than you.