Most of us appreciate the notion of our country being economically successful, but not everyone might agree what exactly constitutes economic success. Favourable statistics are encouraging to look at, especially as they can be indicative of things to come. Yet they are meaningless unless they translate into better quality of life, eventually.
An increase in employment, jobs and career opportunities are normally perceived positively, however, unless this leads to lower unemployment and an increase in workers’ real-income it is futile.
The most controversial issue is the effect of the current economic growth on property prices and rents. The debate centres around the fairness of how the wealth generated is being distributed, and how the soaring rents are leaving some of the most vulnerable members of society as casualties.
The topic is very interesting and deserves an in-depth analysis, maybe a whole series of dedicated posts… In the meantime below I have highlighted a couple of articles which shed some light and offer a possible solution, from a detached perspective.
Rent inflation is not just a social justice issue, it can also lead to loss of competitiveness and in reased difficulty to fill job vacancies.
Silicon Valley is Losing Jobs, mainly due to high rents