House price inflation isn't the economic fix the Government thinks it is 🔵 Victoria_Spratt for ipaperviews
And as for the housing market being a driver of prosperity: housing wealth simply does not trickle down, enriching all of society as it flows. In recent years house prices have climbed but it has not made most people wealthier. At the end of last year, figures from the
As for the idea that the accumulation of housing wealth benefits the economy as a whole, that’s shaky too.notes, homeowners feel more confident, so they spend and borrow more and when people move, they buy white goods and furnishings.the largest decline in GDP House price inflation, as Mulheirn puts it: “just moves wealth from one set of people to another and there is no net benefit to the economy.”economic growth
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