OK I've thought about this a little more. The problem is we are stuck in thinking about material conditions, we should be talking in terms of material security. (People have touched on this issue earlier in the thread, but I think we need to make it more explicit).
My own example is that I rent a quite comfortable apartment and own an old '88 Ford hatchback, so I'm pretty much OK, right? Well firstly, the problem with conflating rent and mortgage as the same thing under a general cost of living denies the fact that rent is money pissed down the drain, whilst home ownership is a nest egg for retirement. So because we live in an age of rolling back social security I am anxious about old age and concerned about the if, when, where and how of entering the housing market. Now the same argument can be applied to nearly any field of life, eg. because health is being rolled back, if I was to get ill I would be impoverished. Similarly, if I was to have a kid (which I plan to soon), education is now slanted to user pays. All this is occuring at a same time of lessoned job security.
So to summarise my point, a generation ago we didn't have as much stuff (manifested as techno gadgets, etc), but there was a single bread winner almost guarenteed of lifetime employment, who paid a mortgage rather than rent, and whose kids went to the doctor and school for free. An argument could be made that their material conditions were lower, but on the other hand material security was higher.
Hi
Ping, as you say it's a working class nightmare. My highstreet has more homeless people begging on it than under Thatcher by a long chalk.
Having said that, and the big inflation lie aside, the housing crisis is well understood by local authorities, it’s just they haven’t the foggiest what to do about it.
Love
LR