``"The required increase in supply to stabilise the price to income ratio ... is not feasible - permanent increases in construction would be required that have never been achieved in history." Instead, "affordability will be improved by another factor: housing risk", the paper argues. "Price to income ratios are likely to stabilise even without major increases in supply, although adjustment could take the form of an undesirable market collapse."'' -- Of course, no mention in this of the central bank's responsible role of pegging interest rates low, keeping consumer housing credit from properly pricing itself...

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