Economist Podcasts Address the problem: the global housing blunder
Jan 17, 2020
Callum Williams, a Senior economics writer at The Economist, and David Rennie, Beijing bureau chief for The Economist, dive into the challenges of the global housing crisis. They reveal how high housing costs lead to economic woes and societal issues, questioning the adoration of home ownership. The conversation also shifts to the revival of Mazu worship in China, exploring its intersection with politics and cultural identity. Additionally, they address changing attitudes toward drinking, spotlighting a growing trend of sobriety among younger generations.
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Housing Impacts
- Expensive housing has significant economic and political consequences.
- It leads to financial crises, slower growth, and populist sentiment.
Homeownership Myth
- Homeownership is not inherently superior to renting.
- Western societies have structured themselves around this flawed belief for decades.
Post-War Housing Policies
- Post-WWII governments promoted homeownership to reward veterans.
- Tax incentives and subsidies further solidified this perception.