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> In the UK at least the housing market is completely and utterly broken. Yes, and this seems true in basically all the similar-ish countries too. (It's 100% b
by maxsilver 7y ago
> In the UK at least the housing market is completely and utterly broken.
Yes, and this seems true in basically all the similar-ish countries too. (It's 100% broken in the the vast majority of the US and Canada. It looks like it's mostly broken in Australia and New Zealand too)
- CuriousSkeptic 7y agoWouldn’t it be true for any capitalistic economy. Owners will extract as much rent as the market will bear, and employees will pay as little as the market accepts. It seems only natural that those two forces would converge on having rent correlate strongly with wages
- esotericn 7y agoIt's more empirical than that I think. The situation in SE England in which 95%+ of those under, say, age 30 or so, will never own a home (and are currently in little rooms sharing with others if they're not partnered off) is not something that is a result of some sort of economic formula. Individuals still have to decide that it's better than their alternatives (e.g. lower cost towns, rural living, staying with parents, emigrating, ...). Beyond that there's also political action.