Pursuits
The Only Solution to Britain’s Housing Crisis May Be a Crash
- Increasing supply may be of limited help: academic paper
- Average U.K. house prices are almost eight times incomes
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The solution to the U.K.’s housing woes may not be pretty.
Staggeringly high prices, which are preventing many Britons from buying a home, may only be corrected by a market crash, according to economists from the University of Reading. While many say boosting the supply of property for sale would help with affordability, the academics say the effect would be very limited, because the amount of building needed just isn’t feasible.