absolutely bang on. The root cause of house price inflation is that banks create new money, and control where in the economy the new money goes. Unfortunately, but not surprisingly, most money is injected into housing because it’s most profitable for banks, rather than into the productive sector where it is most beneficial for society.
absolutely bang on. The root cause of house price inflation is that banks create new money, and control where in the economy the new money goes. Unfortunately, but not surprisingly, most money is injected into housing because it’s most profitable for banks, rather than into the productive sector where it is most beneficial for society.
Yes, the real answer to the cost of living crisis is to reduce the cost of living by reducing interest and housing costs, rather than ramping up wages, which feeds the inflationary beast and just makes New Zealand less internationally competitive.
absolutely bang on. The root cause of house price inflation is that banks create new money, and control where in the economy the new money goes. Unfortunately, but not surprisingly, most money is injected into housing because it’s most profitable for banks, rather than into the productive sector where it is most beneficial for society.
Yes, the real answer to the cost of living crisis is to reduce the cost of living by reducing interest and housing costs, rather than ramping up wages, which feeds the inflationary beast and just makes New Zealand less internationally competitive.