Housing debt – Mortgage Crisis
House prices are so high because there are not enough houses. While this is true, house prices have also been pushed up by the hundreds of billions of pounds of new money that banks created in the years before the financial crisis.
A Labour government will review the fundamentals of our fiscal and monetary policies, reform institutions such as Bank of England and the treasury to ensure peoples basic needs for housing are addressed. At present housing policies favour those who use housing an investment vehicle rather than a place to live.