http://www.creativeclass.com/_v3/creative_class/2009/03/31/housing-crisis-goes-global/ The source on how we live, work and play Wed, 07 Dec 2011 18:10:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.creativeclass.com/_v3/creative_class/2009/03/31/housing-crisis-goes-global/comment-page-1/#comment-11410 DBC Reed Wed, 01 Apr 2009 18:24:49 +0000 http://www.creativeclass.com/_v3/creative_class/?p=9721#comment-11410 The Creative Class ,from what I can tell, probably needs cheap property for rent and purchase and the uncontrolled property market does not provide it, driving up land price inflation in bubbles which then collapse.You cannot have Keynesian demand management and expect cheap credit to go into the provision of goods and services when it can,instead, be hedged into property. Henry George got this straight in the Californian gold Rush when there was loads of money around but the poor got poorer because rents were going up. George deserves more recognition in his native land as in some ways the equal of Marx and ,as regards, the present crisis with house prices (in the UK and the USA),as someone of particular relevance. The Creative Class ,from what I can tell, probably needs cheap property for rent and purchase and the uncontrolled property market does not provide it, driving up land price inflation in bubbles which then collapse.You cannot have Keynesian demand management and expect cheap credit to go into the provision of goods and services when it can,instead, be hedged into property.
Henry George got this straight in the Californian gold Rush when there was loads of money around but the poor got poorer because rents were going up.
George deserves more recognition in his native land as in some ways the equal of Marx and ,as regards, the present crisis with house prices (in the UK and the USA),as someone of particular relevance.

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