Cogently argued. I think the issue of space (square metres) is under discussed. It's a shame the proposal to regulate the estate and lettings agents market failed to gain traction; one change I would advocate is to advertise the square metres of all properties, rather than the "one bedroom, private balcony" etc. Londoners in particular are getting very pricey new builds with dimensions squeezed in the most cynical and miserly way.
There is not even a need to compare countries. Just the fact that the lawmakers stop you from building is a proof of the shortage. The gov and councils deciding how much to build, what and where to build will always lead to a shortage according to economics science.
The problem is not that there is not enough housing, but that there is not housing that the people most in need of can afford to buy (or rent). Of course its easy to say this is because of a simple supply - demand equation, and that more houses would mean cheaper. The problem with this is that even were it true that enough could be built to start pushing prices down - there are massive vested interests that would resist that. This includes the entire housebuilding industry, plus landlords, oh, and everyone who owns a house already. And banks, and the whole finance industry. Assets going up are essential for the whole system. Property is asset number one. There is no way on earth that these interests will allow house prices to fall to the level necessary to resolve the affordability issue. Get real.
I always thought it was the Campaign to Protect Retirees Equity.
Campaign to Prevent a Recovering Economy.
Cogently argued. I think the issue of space (square metres) is under discussed. It's a shame the proposal to regulate the estate and lettings agents market failed to gain traction; one change I would advocate is to advertise the square metres of all properties, rather than the "one bedroom, private balcony" etc. Londoners in particular are getting very pricey new builds with dimensions squeezed in the most cynical and miserly way.
There is not even a need to compare countries. Just the fact that the lawmakers stop you from building is a proof of the shortage. The gov and councils deciding how much to build, what and where to build will always lead to a shortage according to economics science.
The problem is not that there is not enough housing, but that there is not housing that the people most in need of can afford to buy (or rent). Of course its easy to say this is because of a simple supply - demand equation, and that more houses would mean cheaper. The problem with this is that even were it true that enough could be built to start pushing prices down - there are massive vested interests that would resist that. This includes the entire housebuilding industry, plus landlords, oh, and everyone who owns a house already. And banks, and the whole finance industry. Assets going up are essential for the whole system. Property is asset number one. There is no way on earth that these interests will allow house prices to fall to the level necessary to resolve the affordability issue. Get real.