Hook
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You're a billionaire and I can't afford to buy a house, is that fair? Well, I'm a billionaire that worked 22 hours a day, did you work 22 hours a day? I wish you could buy a house, but I wonder how much effort you've put into it. That's John Caudwell, a British billionaire who got rich creating Phones4U, which became Britain's largest independent phone seller with over 600 stores. John has a $330 million mansion, a super yacht called the Titania, and here's him standing next to a $300,000 statue of himself. John sold Phones4U in 2006, but since then, he's started selling luxury real estate. This article from last month detailed how the homes he's selling are £35 million each. But working class people haven't been as lucky as John. When he got his start in the 80s, the average British person was making around $11,000, and the average house cost around $48,000. And now, the average person makes around four times that amount, $48,000. But the average house now is eight times more expensive, around $375,000. It's a similar story here in the U.S. Forty years ago, the average person also made around $11,000, and a house cost around $82,200. But now, the average home costs over half a million dollars. So John thinking you might not work hard enough, unless it's 22 hours a day, is bullshit. He's also part of the problem. He prioritizes housing for the super rich, above the needs of the working class people he made his money off of. And he's also ignoring the bigger issue, which is that housing has gotten more expensive much faster than wages have gone up. This isn't sustainable.