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4min chapter
The Housing Supply Myth - Cameron Murray & Ian Mulheirn
The Joe Walker Podcast
The Importance of Housing Supply in the UK
Housing construction is something like 7% of GDP and 8% of the workforce. You have to build huge amounts of housing for many years before you get house prices back to anything that people might have previously considered to be affordable in terms of a ratio to their income. So if we build 300,000 houses a year in the UK over the next 20 years, then you're going to maybe take 10% off house prices compared to what they otherwise would have been. But I don't really see that that's massively helping the people who've just seen price to incomes more than double over the last generation.
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