Yesterday I attended a presentation which argued that the effect of the benefit cap would be worse for Brent than for any other area of the country. Among the stats in this discussion was an estimate that government reforms would see 1,100 families in Brent would see their income reduced by at least £100 per week.
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The problem is:
Government forces through massive 1930s-style house building
All houses are sold, but prices crash, down to historically typical multiples of salaries (the only real decider of house-price value)
Current owners - who are voters - don't like this
Government doesn't do it in the first place.
.
Result: we have a permanent housing crisis, with artificially-constrained building levels for years to come.
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