- "Whatever the lure of a celebrity house, the would-be buyers in Fitzroy Town Hall were just as jittery as the would-be buyers at any other auction in recent weeks. "
The column's author notes this would suggest “that [housing prices] will likely be 55% higher in 10 years’ time”.
- "The mechanism is simple - but it’s not part of conventional “Neoclassical” economics, which is why [the] surveyed market economists don’t consider it. Aggregate demand is the sum of income plus the change in debt, and this is spent this is spent on both goods and services and assets. There is thus a link between the change in debt and the level of asset prices."
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