petej + mortgages   103

Housing without debt — Medium
"The housing crisis exposes as false the traditional political association between capitalism and ‘free markets’. In fact, today, capitalism is eating the market. More specifically, the market for housing debt is sucking the life from all the other markets for actual things (products and services)."
UK  housing  property  debt  land  crisis  markets  mortgages  prices  affordability  construction 
february 2016 by petej
Aaron Bastani: Our economy is recovering, we’re told - London Student
"UK growth is coming from record numbers entering the labour market, overwhelmingly in low-paid, low-productivity service work which is almost always characterised by ‘in-work poverty’. Alongside that, increases in domestic consumption aren’t coming from rising ‘real’ wages that are adjusted for inflation but declining savings and a rentier class at the top of society  – you know, the people who are getting mortgages with practically free credit so that they can ask you for 10% rent increases every year? Yeah, those ones."
UK  economy  recession  recovery  growth  jobs  employment  productivity  pay  wages  rents  mortgages  debt  crisis  dctagged  dc:creator=BastaniAaron 
february 2014 by petej
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