The Housing Supply Myth - Cameron Murray & Ian Mulheirn
The Joe Walker Podcast
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The Housing Supply Myth in the United Kingdom
I really struggle to see how you can do it. I mean, ultimately, on the basic discounting model, if you make it far more costly to own a house then people just don't get to buy them. If the day to day cost is higher, then just renting them. But the people just going to wait till the market reaches equilibrium. Obviously, they can do all sorts of things like making these capital buffers and things like that. They can force the banks into forbearance and they can perhaps beef up housing benefit for homeowners - which will probably stop a fire sale. But I don't think it changes the market equilibrium.
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