How do we fix the housing crisis?
Update: 2025-07-20
Description
Why are house prices in the UK so high? Here's how we can make housing affordable for ordinary people again.
What I discuss in this episode:
(00:00 ) Intro
(01:26 ) Why every city in the world has a housing crisis
(04:00 ) Understand that housing is an asset like shares, bonds, commodities
(07:40 ) Economists miss why assets are going up11:55 How rich people push up asset prices (and house prices)
(14:15 ) Wages do not control house prices
(16:33 ) Should we just build more housing?
(18:33 ) Inequality is reshaping our cities and creating slums
(21:27 ) Why we can't get growth
(24:13 ) The problem is inequality
(25:09 ) Cutting red tape and Grenfell Tower
(26:06 ) The rich always decide – we need to reduce their wealth
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If true, why are London house prices lower in both real and nominal terms compared to a decade ago?