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economic growth and house prices

Comment 15th March 2013

Growth – The idea that ‘growth’ is intrinsically good is deeply flawed.  Beyond a certain point, it is seriously damaging, encouraging an ever-increasing consumption of resources with all the environmental problems this involves.  The laws relating to the management of the economy should be amended to reflect this.  One place to start would be to find a better way of measuring the well-being of our society than GDP as this does not differentiate between beneficial and destructive consumption. 

Mortgages and House prices – Ever-increasing house prices have played no small part in the present debt crisis and are of benefit to no one except estate agents, lawyers and the Government, via taxes.  Generally, householders gain nothing when selling as they usually have to pay a similar amount for their new property, and would-be first-time buyers do not stand a chance, with all that that means for newly-married couples and families with adult children.  One factor in controlling prices would be to ensure that Banks and Building Societies were forbidden to give loans in excess of 90% and obliged to check properly on the financial status of borrowers.

Why does this matter?

Uncontrolled growth is as beneficial to society as it is to the human body. 

Ever increasing house prices benefit no one other than estate agents, lawyers and the taxman

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