The bottlenecks we’re sure to blame for the housing crisis

The bottlenecks we’re sure to blame for the housing crisis
Labour is not a ‘fixed supply’, but skilled labour is not readily elastic. Pic: iStock

A severe shortage of skilled labour will be highlighted at a time when we need to build a lot of houses

I marvel at those who, when suffering a hangover, try to pinpoint the drink that did it: “Oh, it was the shots at the end...” they cry. Was it? Or was it the eight pints that preceded the shots that did it?

It’s a futile exercise, yet one we often repeat and apply to other scenarios, including market analysis. Was it cheap credit, high labour and land costs, speculation, greed, international money flows or reckless...

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