As there’s an inverse relationship between land prices and wages, you’d expect more from the forces of labour than you would from the Tories on the point. However, labour and the unions have clearly thrown their lot in with real estate speculators. They’ve come to believe that you can have real wage increases alongside land price bubbles ……… and will prove to be greatly disappointed.
I’ve written before about how the parties of labour became ‘mainstream’ by encouraging, real estate speculation : –
As Australia repeats 2007 all over again, with both political parties and the Reserve Bank committed to promoting yet another property bubble, it might be an appropriate time to revisit British writer Fred Harrison’s well-founded demolition of former UK Chancellor of the Exchequer and Prime Minister Gordon Brown [“No return to boom and bust”].