| Land, or housing, Rent are ridiculous in the 20th century. Depending on where you live you may finally get the bad taste of this medicine. I remember some journals ( it was Financial Times or Wall Street etc type ) making the relationship case. Stating people has actually been making less money when rent is deducted. The cost of living is high, people used to say this without putting things into perspective. Cost of Foods / Transport and Rent may be high in London, but you do get a higher minimum wages. Compared this some South Asia Countries where Cost of Foods and Transport is low but Rent is exceptionally, and there may be no minimum wages or wages are comparatively low. Our of the all four cost of living, Food, Transport, Clothes and Home, Home takes the biggest cost percentage. More then 50%. And it happens that only Home; Land, Rent / Property prices is an investment option out of the 4, and are suspected to be driven up and down by market / monopoly / government. The world needs to start looking into Property market and tax on its profits, both selling or leasing. As well as allowing % of rent to be deducted in tax calculation. I strongly believe, that anyone making more then the average median income ( so called middle class ) should be able to afford to buy or rent a house, that has heating in winter and can afford a 10 min Hot shower without skimming on their entertainment like movies, and be able to have decent meals a week while making some savings. The world we are at now are having middle class passing more of their wealth into property market and their living standard aren't that much different then lower class. |