Pity the keyworkers

For their children shall not inherit the house. The Halifax reports that "keyworkers" (Police, Fire, nurses and teachers) are priced out of the housing market in 93% of UK towns. Am I supposed to feel sorry for them alone? Many non-keyworkers are also priced out of the UK housing market yet get no special attention by the media or special schemes funded by the Government. Such schemes only reinforce the currently overpriced housing market. Why the focus on owning a house anyway? It is currently cheaper to rent than to buy. The Halifax Bank also has a clear vested interest in highlighting such "issues".

There are a number of solutions to this problem. Increase the supply of houses by building on greenbelt land where houses are required. Encourage "empty nesters" to move to smaller properties. Raise the pay of keyworkers now by reducing their pension rights in the future so that they are paid more when they need the cash and less in retirement. Most radically, raise interest rates to encourage a house price crash and make houses more affordable for everyone. Unfortunately, all the policies are unpalatable to a certain degree.