In 1979, Mrs Thatcher was elected Prime Minister of the UK. At the time, the UK was experiencing double-digit inflation, trades unions were powerful and there were signs British industry was becoming increasingly uncompetitive. Mrs Thatcher introduced revolutionary economic policies which had a deep impact on the UK economy. They were characterised by a belief …
And after a decade long-boom in house prices, the past 12 months have been a real turning point. Real house prices have already fallen 13%, and last month Rightmove reported a £6,000 decline in average asking prices. But some commentators believe the worst is still to come due to higher interest rates and a struggling …
Last year, the UK saw a record level of net immigration, 600,000 – and although last year was exceptional, it is forecast to remain above pre-Brexit levels until 2026. Last year was also a year of record rent rises and chronic housing unaffordability. Given the UK’s inability to meet housing targets, how much is immigration …
In recent months, the US Housing Market has seen record house prices, mortgage rates quadrupling from 2 to 8%, and price to income multiples worse than 2006. It is a familiar story across the world. But, so far US house prices have seemed to defy gravity. Yet how long can they remain so elevated? Is …
Housing has never been more unaffordable. Homeownership rates are falling, rents are rising and young people are trapped by a crazy housing market. Against this backdrop, Sir Keir Starmer says he is a YIMBY – he wants to build 1.5 million new homes, even on greenbelt land and we should ignore local opposition to get …
China is facing a real property collapse with up to 65 million surplus homes, plummeting demand, falling prices and big property developers drowning under a mountain of debt. In the past few decades, the property sector has been a key factor in the Chinese economic miracle but as the boom turns to bust, what will …
Earlier in the year the UK had record-breaking inflation with both headline and core inflation remaining well above the government’s target and being worse than forecast. As bad news on inflation kept coming the Bank of England increased interest rates 14 times. Finally, in a narrow vote, the Bank paused to halt rate rises. Is …
Readers Question: Is it right that private banks can create 97% of all new money by lending it into existence, and what effect does this have on inflation and the value of money already in existence? Banks can effectively increase the money supply, by lending money. Most money in the modern economy is bank deposits. …