#96: The Housing Supply Myth – Cameron Murray & Ian Mulheirn

1 min read
#96: The Housing Supply Myth – Cameron Murray & Ian Mulheirn

Cameron Murray is a Research Fellow at the University of Sydney’s Henry Halloran Trust. Ian Mulheirn is Executive Director and Chief Economist at the Tony Blair Institute.

Show notes

Selected links

  • Follow Cameron Murray: Website | Twitter
  • Follow Ian Mulheirn: Website | Twitter
  • Tackling the UK housing crisis: is supply the answer?’, 2019 report by Ian Mulheirn
  • ‘Innovative Approaches to Reducing the Costs of Home Ownership’, 2003 report by Joye and Caplin
  • ‘The Australian Housing Supply Myth’, 2019 paper by Cameron Murray
  • ‘The Geographic Determinants of Housing Supply’, paper by Albert Saiz

Topics discussed

  • Why isn’t a lack of supply the primary cause of high house prices? 14:40
  • The role of interest rates. 18:46
  • The tangled web of causality behind house prices. 36:42
  • Narratives in housing markets: are they exogenous shocks or post hoc rationalisations? 41:40
  • Where did the housing supply narrative come from? 46:41
  • How would the UK government prop up its housing market if fundamentals deteriorated? 1:04:52
  • Arguments in support of the housing supply myth. 1:05:48
  • What makes for an intellectually defensible forecast of house prices? 1:29:17