Comment Re:Green belts? (Score 1) 244
I am from Central Europe and we have the same issues as the UK.
But I don't blame the banks / real-estate industries, I blame the central bank's mismanagement. Why? Because I know people who own houses as an investment and I know what pushed them into making such investments: inflation has been out of control for almost 2 decades and central banks don't care one bit. Sure, you can invest on the stock market, but common folk prefer tangible things they understand: real estate.
The most blaring example of mismanagement happened during COVID: economy was slowing down, because people often couldn't work (therefore other people couldn't spend on services), goods couldn't be shipped across the world etc. There was no dire shortage of money on the market (demand side), there was a very clear problem on the SUPPLY side.
Despite this, central banks went haywire and dumped more money onto the market, despite having dumped a lot already through near-zero interest rates during the preceding decade.