Emeritus Prof Christopher May on Nostr: Given that house prices are one factor behind the #housingcrisis, a combination of ...

Given that house prices are one factor behind the #housingcrisis, a combination of high(er) #inflation & stagnant (or falling) nominal prices in the housing market has led to a 13.4% fall in the price of homes in the last 18 months.

But as #wages have not kept up with inflation this will have had less of an impact on prices as a multiple of earnings, but nonetheless represents a move in the right direction.

However its a necessary not sufficient element to solving the housing crisis!