I’ll be concise. The crisis stems from the so-called ‘property market’ which is a speculative mess because–by taxing incomes and purchases instead–we’ve failed to tax land values sufficiently.

[No, I’m sorry neoclassical economists and politicians, our unaffordable housing is not simply a matter of ‘undersupply’!]

So, we have the two-year frenzy of the ‘Winners Curse’ ahead of us now.

Since we were told “The land shall not be sold“, many others have also warned of the serious repercussions from choosing to inflate land prices –the real generators of inflation–but for our own reasons we’ve chosen not to heed this injunction.

As much as I hate to be the bearer of bad news, folks, that’s worse than unfortunate! 🙁