Stephen Kinsella on the housing market

Stephen Kinsella on the housing market
Home price growth faster outside Dublin

The system we have set up is driving the negative outcomes we are seeing, where The Economist calculates house prices are 25 per cent overvalued, 10,000 people are homeless, and we can expect another boom/bust cycle in property to come

Imagine you created a system where the government buys things when they are expensive, and sells them when they are cheap, where certain groups get valuable assets at steep discounts, where those at both the top and the bottom of the income distribution scale are supported to varying degrees by those in the middle, where there is no incentive to ever keep these assets from depreciating, and where, after decades of this exact same system in operation, the media react in surprise that the system doesn’t work, and continually pin the blame on one person in a revolving-door job.

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