22 May 2014, The Tablet

Impossible for many: a home of your own


 
When Mark Carney negotiated his salary for taking on the role of Governor of the Bank of England, he not only secured a basic annual wage packet of £624,000 but also an additional housing allowance of £5,000 a week, funded by taxpayers, while his wife Diana bemoaned the lack of suitable accommodation in London when the couple moved to the UK from Canada last year. And that, in a nutshell, is the problem with housing in Britain: the capital is awash with wealthy people, whose demand for luxury properties creates a chain of high prices throughout the capital’s housing market, bumping up prices for even the most modest London homes. This week, Mr Carney warned that the housing market could jeopardise the economy’s financial stability.  His chief concern is that p
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