Housing supply, investment demand and money creation: A comment on the drivers of London’s housing crisis

Nick Gallent, Dan Durrant and Neil May
Additional contact information
Nick Gallent: University College London, UK
Dan Durrant: University College London, UK
Neil May: University College London, UK

Urban Studies, 2017, vol. 54, issue 10, 2204-2216

Abstract: This commentary examines the current emphasis on supply-side solutions to the housing crisis in England – building more homes to increase accessibility – against a backdrop of intensifying demand-side pressures, the financialisation of housing, and the impact of credit liberalisation and money creation on housing demand and prices. It reflects on the need to balance additional housing supply, where needed, with gradual ‘demand management’ responses that at last acknowledge the centrality of spatially unbounded investment demand and the flow of money created by deregulated banks into housing as fundamental to the current crisis of housing affordability and access.

Keywords: credit; financialisation; housing crisis; housing-demand; housing-supply; ä¿¡è´·; é‡‘èž åŒ–; ä½ æˆ¿å ±æœº; ä½ æˆ¿éœ€æ±‚; ä½ æˆ¿ä¾›åº” (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0042098017705828 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:54:y:2017:i:10:p:2204-2216

DOI: 10.1177/0042098017705828

Access Statistics for this article

More articles in Urban Studies from Urban Studies Journal Limited
Bibliographic data for series maintained by SAGE Publications ().