Too Long; Didn't Read
The UK housing market is used as an example throughout this section because that is where the organization in focus, Bricktrade, is based.
Food, clothing, shelter. Three things are widely considered basic human needs. Of these three, housing in a lot of locations faces the most pressure as it is used as a finite resource. Coupled with the frequently developed emotional attachment to houses, and the long-term stability it promises, it has rapidly become highly desirable. Supply is below demand. Due to the capitalist system of economics practiced in most countries, leads to high housing prices. The median house price in the UK stood at £250,387 in April 2021, while the median salary in the UK for April 2021 stood at £26,208.
This is a problem. With taxes, childcare, transportation and food still coming out of a salary, the amount left over for housing is much less than the cost of a house, especially with the house prices rising faster than salary increases for most individuals. The average house price in England for April 2011 was £168,218 while the median UK salary for April 2011 was £20,800. Compared with the figures in the paragraph above, for a ten-year period, the house price increased by approximately 48.8% while the salary increase was 26%. With average rents at about £968 for Q2 2021, renting is not an attractive solution for many.