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I think beside limiting property investors, curbing central bank zero interest rates will make housing more affordable. Why? Zero interest rates drives up all a
by acd 5y ago
I think beside limiting property investors, curbing central bank zero interest rates will make housing more affordable. Why? Zero interest rates drives up all asset prizes including housing. Buyers buy housing that they can afford to pay the monthly mortgage on. Zero interest rates by central banks undermines the UN article 17 human right to own property, instead you rent from banks.
I argue that there wouldn't be so many property speculators if the interest rate weren't set artificially close to zero by central banks purchasing bonds.
UN human right of right to own property
"Article 17
Everyone has the right to own property alone as well as in association with others."