Def_II_Royalz
Star Player
The problem is seeing rising house prices as "wealth creation". My house has nearly doubled in price since I bought it 7 years ago but it's hardly wealth if everything else has correspondingly risen in value. If I needed to turn it into liquid, with a baby I'm not ready to downsize, and I'm not going to move into an equivalent house further out in a cheaper neighbourhood where I don't want to live and price out someone who really needs that place in the process.
Since 1995, 75% of all the UK's wealth creation has come from rising house prices. And people still believe they earned it.
https://www.opendemocracy.net/en/ou...-need-start-talking-about-where-wealth-comes/