“Growth” and “affordable housing”

31 Dec

As house prices go up and up in East Devon (11% according to our Beloved Leader’s New Year message (see below) the Express and Echo reports that wages in Devon are down 19.5%.

http://www.exeterexpressandecho.co.uk/Recession-hit-Devon-sees-19-5-drop-average/story-20380281-detail/story.html

If the definition of affordable housing (according to the government) is 80% of the market value of the new houses being built, who are the people who can afford these so-called affordable homes if wages are going down and house prices going up?

Though the question is academic in East Devon where just about every developer seems to plead poverty to EDDC and is believed, so affordables are not part of their developments.

The question then is – who benefits from this “growth”?  As always, the answer is: follow the money.

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