Property ladder

Here's a real issue for the politicians to start debating in the run-up to the general election:

In a different world, this incredibly insightful piece of research by the housing and homelessness charity Shelter would be front page news.

Referring to 1971 as a starting date, Shelter discovered that if food and other essential items had gone up as fast as the average property price, a box of washing powder would now cost £28-53, a jar of coffee over £20 and a pint of milk £2-43.

Would you put up with that? Well, we certainly did with house prices.

Maybe this startling piece of research never got on to the political agenda because it would make estate agents, demutualised building societies and mortgage brokers sad. And when one of them cries, children, a little fairy dies. Seriously though, I don't know why any politician ever thought that MP's expenses, Lord Ashcroft, Gordon Brown's temper, or whatever happens to be today's piece of political gossip was more important than an uncontrolled housing bubble that's caused misery for millions on and off the housing ladder over decades (although I expect that for all the talk of "not being afraid to make tough choices", this issue's a lot bigger and more difficult than covering your own back and making a big issue of every banana skin your political opponents slip up on).

I didn't see anything like a constructive policy raising its head during the years of insane price rises and I can't see much discussion happening about how the nation controls the insatiable money pit of house price speculation in future. It's not going to help in a material sense, but maybe we just could tar and feather Sarah Beeny while we're waiting for a better idea to come along?

Thanks to Hagley Road to Ladywood for highlighting the Shelter report.