It's because post GFC the USA stimulated and the EU went all in on austerity.
It is fairly clear what was the best option.
Under-rated comment. This is basically the whole explanation. 2008 did a huge amount of damage, not just immediately but to long-term mindsets. Ironically I think it's even entrenched the meme that the only real way to make money in the UK is property. We're all Georgists now.
(this includes property as an export industry! Leaving increasing areas of the UK owned by overseas absentee landlords.)
The problem is that people think property is a risk free way of making money - even if they borrow heavily to invest. Maybe what we need is a property price crash.
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>Maybe what we need is a property price crash.
What is needed is a steady decrease in demand or an increase in supply.
The cost of living crisis is directly caused by the huge bureaucracy needed to build new housing. And speculators are benefiting from that. As long as governments are unwilling to let go of regulations housing costs will only increase.
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