Part 4/11:
Modern economic growth often exacerbates fundamental issues, particularly in housing affordability. The narrative around growth traditionally suggests it leads to an improved standard of living; however, increasing housing costs have turned the dream of homeownership into a distant reality for many young Britons. In the past, families spent more on beer than on rent, but that equation has drastically shifted over the past century.
The irony is that despite the overall economy appearing to grow, many experience stagnation or a decline in quality of life. Indeed, while politicians chase after higher GDP as a means to allocate more public funds, the fruits of this growth often accrue disproportionately to those who already possess assets, leaving the fringes of society to struggle.