Housing Crisis 'Single Most Important Driver of Poverty,'

UK government proposals to manage the housing crisis through rent controls are doomed to fail, according to a critical new report by the Institute of Economic Affairs (IEA). In the UK, tenants are saddled with rents on average almost 50% higher than those in the Netherlands, Belgium, Germany and France. British politicians across the political spectrum agree that the UK is in the grips of a serious housing crisis. The average private sector rent in London has reached 62% of average income. And even across the rest of the UK, renters are spending nearly 20% more of their incomes on rent payments than their European counterparts. Put simply, housing in the UK, and renting in particular, is the most expensive in Europe. Read the report on the IEA website.