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tequiladeadman

Reasons for the Relentless Escalation of House Prices

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Long time lurker here... thought I'd share the attached essay, produced by a member of the Hammersmith Positive Money group, and based on the work of Josh Ryan-Collins at the New Economics Foundation.  

I'm afraid the graphs referred to in the narrative are only present in the PDF version of the article, which is too large to upload.  If anyone is interested in obtaining a copy of the PDF, please get in touch.  

"Ultimately, understanding the dynamics of house prices means understanding how the neoliberal economic model works, its un-sustainability, and the crucial role that house prices play in propping it up. Rising house prices play a primary role in sustaining the shaky credibility of our monetary system, trends in house prices affect the whole economic cycle and are crucial for our ability to attract much needed foreign capital. For all of these reasons, our authorities have no choice but to favour relentless price rises, if they want to avoid a major economic slump and a financial collapse.  It will then become clear that the problem of unaffordable housing cannot be resolved without questioning the whole neoliberal economic model that we happen to live under."

 

 

 

Reasons for the Relentless Escalation of House Prices.doc

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I would concur.  Lately I've come to the conclusion that not 'buying a house' in the UK might end up being a gift.   Healthy, functional economies don't tend to rally behind crazy HPI - they're too busy being productive in other means.

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