Why Exactly is it so Expensive for us to Own a Home?

"According to head of the FSA, Adair Turner, over 75% of banks’ lending (and hence money creation) goes into property. If we could somehow reverse this trend and have the majority of lending going to businesses where it would lead to real growth, real production and real job creation, instead of into decaying assets that don’t produce anything of real value, that would perhaps be the beginning of the end for our boom and bust economy."

Our Economic Correspondent thinks that it surely can't be that simple?

Why exactly is it so expensive for us to own a home? | | Independent Econoblog Blogs


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