Friday, March 22, 2013


This is humor, but demand side "help" for the housing market just increases prices more. In high demand areas like London, it's land prices and implicit rents, not construction costs, that drive high home/rental prices. Those prices are high because they don't build enough housing. There are various reasons for that, one of which is the misguided idea that every piece of greenery is sacred. Except for the bit that was taken to build my house, of course.