Because you haven't built enough

The most disastrous government decision of the past 50 years (pre Brexit anyway) was Thatcher's policy of selling off council houses and nit replacing them. That created the housing bubble and an economy based on people borrowing money against the value of property (and buying it purely as an investment) to the extent that nobody dares build sufficient housing for the population, because to do so would cause a fall in the value of property (a value completely based on an excess of demand over supply). And people (old people again, because they're the ones who own nearly all of it) have come to believe they are entitled to expect the value of their property to only go up.

Posted By: mr carra, May 12, 13:23:35