The wealth gap widens, yet the rich are paying an increasing proportion of tax. At least most are. Perhaps the Amazons could pay more, but they avoid tax everywhere including the US.
I accept there are families that are stretched because of high rents etc. But I also think that there are families in higher income brackets that want a good standard of living and are prepared to borrow to get it without too much thought about repayment. The new car, the holiday in the Bahamas, the house extension. It's poor financial planning, and may be this is something that should be taught in school, the rudiments anyway.
I agree with you we're dealing with a house of cards, and potential negative equity in the next few years if interest rates rise, borrowers default and houses are repossessed. The financiers should be properly capitalised this time, post-2008, but it could send property prices in a spiral downwards.
As most people under 30 can't even imagine getting on the property ladder, property prices spiralling downwards would be a good thing imo.
