from “What determines rent?” #DavidTimoney https://fromarsetoelbow.blogspot.com/2025/07/what-determines-rent.html
Text: “In the case of housing, there are real constraints such as restrictive planning regulations and limited real resources (builders and building materials), but the biggest determinant is the reluctance of volume builders to over-supply the market and so depress prices. In this context, the state is a volume builder that has taken a self-denying ordinance to maintain house prices, both for owner-occupiers and landlords, which is why the UK government is so reluctant to build council houses despite the pressing need, and why US liberals like Ezra Klein and Derek Thompson argue that "abundance" can be achieved by simply rolling back regulations and striking out building codes, which provides an easy excuse to ignore capitalist realities in favour of a technocratic can-doism.”