It's interesting to 'follow the money' in the UK situation. If we were building more houses then prices would be lower and money would be flowing into construct

It's interesting to 'follow the money' in the UK situation. If we were building more houses then prices would be lower and money would be flowing into construction and therefore the working population as a whole. With constrained supply the money flows to existing property owners which are generally older, more likely to be retired, etc. That older group probably spend a lot of that excess wealth on holidays and social care. If that excess wealth was reduced then the discretionary purchases would drop first (the holidays). Probably the economy would have a very different 'shape' if construction supply was increased to meet demand.