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Tuesday, March 03, 2015

Shelter make a worthwhile point

It's good to see Shelter are finally getting to the route of the problem instead of just scapegoating landlords.



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2 comments:

John Adair said...

funny thing there're no shortage of washing machines, cars, ipads etc but homes are a different matter ....

murrayzz1 said...

This is in fact quite an inaccurate analysis of the reason why house prices are so high.

In the 10 years up to the financial crisis, the amount of money created by banks to lend as mortgages quadrupled.

This is new money, released into the economy but restricted to only one product - housing.

As any junior economist will tell you, when there is too much money chasing too few goods, prices rise.

So the hyper-inflation we have seen in the housing market is due more to the ability of banks to create new money - and to decide where it is spent - than it is on shortage of supply.

Read this page and watch the video to understand this issue properly.