At the margins, perhaps. At the end of the day there has been a long period of significant demand (low interest rates, immigration, and a greater tendency to live alone) placed on top of world-beatin… (View Post)

People wonder why wages are stagnant. Again, lots of reasons, but one must surely look first and foremost and the gross distortions delivered by the housing situation. I myself, very rationally, put … (View Post)

And so we come back to the underlying planning dysfunction. New Zealand has done some good work recently basically up-zoning much of the country. My Dad’s crappy 1950s bungalow could now become, with… (View Post)

That was my point, though. People invested rationally. Like me. It was a one-way bet, almost. The problem is that the underlying system is broken. Nobody cared through much of the noughties, but I’d … (View Post)

Finally, it’s absurd to claim that there is no “room”. London - which is where people want to be because of proximity to jobs - is incorrigibly low-rise compared to New York, Tokyo, Paris, or Madrid.… (View Post)