Why is it that you can't afford a home in Amsterdam anymore? British economist Josh Ryan-Collins will answer these question presenting his latest book. Dutch politicians and economists will discuss how relevant his analysis is for the Netherlands, the country with one of the highest mortgage debts of the world. What is needed to make living in Amsterdam affordable again? Is it building of houses? Or do we need more fundamental financial and economic reform? And if so, which ones exactly?
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Throughout the Western world, a whole generation is being priced out of the housing market. For millions of people, particularly millennials, the basic goal of acquiring decent, affordable accommodation is a distant dream. Leading economist Josh Ryan-Collins argues that to understand this crisis, we must examine a crucial paradox at the heart of modern capitalism. The interaction of private home ownership and a lightly regulated commercial banking system leads to a feedback cycle. Unlimited credit and money flows into an inherently finite supply of property, which causes rising house prices, declining home ownership, rising inequality and debt, stagnant growth and financial instability. Radical reforms are needed to break the cycle. This engaging and topical book will be essential reading for anyone who wants to understand why they can’t find an affordable home, and what we can do about it.
Josh Ryan Collins is head of research at the UCL Institute for Innovation and Public Purpose in London, headed by Mariana Mazzucato. His former book ‘Rethinking the Economics of Housing and Land’ (2017, Zed books) was included in the Financial Times’ Chief Economics Correspondent Martin Wolf’s top economics reads of 2017. Previously he was Senior Economist at the New Economics Foundation, one of the UK’s leading think tanks.