Baby Boomers

The Collapse of the Housing Ladder Between 1990 and 2024, the fundamental architecture of British stability fractured. Average home prices surged from roughly £55,000 to £330,000—a staggering 400 percent climb. This trajectory would be unremarkable if matched by income, but wages have stagnated relative to the explosive growth of the property market. What was once the primary vehicle for middle-class wealth has transformed into a barrier to entry that excludes a vast swath of the population. The Thatcher Revolution’s One-Generation Limit The Margaret Thatcher era sold a vision of a "property-owning democracy," promising that ownership would be the bedrock of civic life. However, this shift was effectively a one-generation windfall. While Baby Boomers and older cohorts of Generation X secured assets during a period of relative affordability, the policy lacked a mechanism for sustainability. We are now witnessing the exhaustion of that model. Generational Inheritance and Economic Friction For Generation Z, the "ladder" is no longer a functional metaphor. In previous decades, a 27-year-old could reliably expect to reach the first rung of ownership. Today, that expectation has been replaced by perpetual rent cycles. This isn't just an economic shift; it’s a social crisis. When the building blocks of a life—security, space for family, and long-term planning—are priced out of reach, the social contract begins to fray. The Price of Permanent Renting The systemic failure to align housing costs with earnings has forced a radical realignment of life stages. Delaying home ownership isn't a choice; it's a forced concession to a market that prioritizes property as an investment vehicle rather than a social necessity. Unless policy addresses this decoupling of labor value and asset cost, the dream of a secure home will remain a historical relic for the young.