Rethinking the Economics of Land and Housing

Unlike neoclassical economists' rubbishy accounts, this book is a clear, concise exposition of how economies really work. It displays an understanding of the illness privatised 'economic rent' has inflicted upon world economies to deliver us to this private debt watershed from which we have to extract ourselves.As Michael Kumhof, senior research advisor at the Bank of England, says "This excellent book .... will quickly become an important reference for the general public and for economists, and hopefully also for policymakers."

Basically a history of UK housing but widely applicable elsewhere. Unaffordable land and housing seems to be an international issue. Some chapters seemed really dense but still a very good summary of the issues.

A book that make you think and view the housing market in a different angle

Clear & balanced survey of this crucial topic. Early chapters suited to general readers. Middle chapters richly detailed for more economically literate. Full of information and critiques welcome to this reader with an M.A. in political economy.

This book was a real eye opener and a refreshing explanation of what is now a major issue in our economies. The author not only dispels many entrenched assumptions about the role of land but also goes as far as to give practical suggestions for how these issues can be tackled

Excellent perspective on the role land values and ownership play in the creation of equitable communities.

Interesting book that opened alot of info

Chapters 1-4 is an excellent review of why land, as a distinct factor of production, should not receive the same property rights and tax benefits as capital investments. Unfortunately, at Chapter 5 the book goes off the rails and blames access to credit for high land rents, without demonstrating any causal connection between increased land values (which is expected when interest rates go down) and land rents. There is no mention of the capitalization of rent with interest to calculate the present value, and how “financialisation” might distort this formula. I’m pretty sure Chapter 5 was written by a different coauthor than Chapter 4, because while 4.6 concludes, “Supply in all tenures remains stubbornly far below all measures of what is needed,” 5.2 then dismisses the question of supply: “Why don’t housing and land markets ‘correct’?… The answer here lies not with the supply of homes but with the demand for those homes.” And while the previous chapters clearly articulate why land should be treated differently than improvements, Chapter 5 largely loses this distinction and argues for the restriction of credit for “property.” Chapter 7 concludes with their list of reforms, and finally zoning makes a brief appearance, though where I am (San Francisco Bay Area) it is the major cause of supply restrictions.Overall I think it is a good book, but the muddled discussion of credit distracts from the important points regarding public ownership, taxation, and supply.

This is an excellent book and there is no point in me repeating the summaries of previous reviewers, but there is one grave omission. There is no reference to the demand side of housing provision, as primarily evidenced by the rise in population in London (just under 0.5 million in 5 years (ONS) quoted in the Guardian) and the increases in house prices and rents, the latter being a driver of the former through the buy to let market. Housing provision for a constantly growing population is a moving target and the UK is currently locked into GDP growth by population increase with stagnant productivity. I understand that the subject of population movement touches a lot of raw nerves politically, especially on the left, but I think that a complete omission of the issue in the book is wrong.

+ its willingness to challenge conventional positions; its innovative emphasis on the crucial and mostly ignored importance of land value ._ the language used is dry and aimed at students or other academics; its lack of political context and consequently its unhelpful ness to anyone interested in political change: the only way to bring sanity to the housing situation

Be prepared for some fairly serious economic theory - particularly towards the end of the book. But this is essential reading for anyone interested in how we got to our current 'broken' housing market.

ok

Superb. Extremely lucid. Covers many aspects of the subject, from economic theories on land to analysis of current problems, and also proposes and justifies a range of solutions. I learned a lot and enjoyed reading the book.