Housing market distortions will hinder economic growth
Relatively high home ownership raises at least as many wider economic costs as benefits
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In this article
- Policy has encouraged home ownership
- Downsides of higher home ownership
- Consumption squeeze
- Illiquidity and reduced labour mobility
- Reduced maintenance and crowding out
- Post-expansion doldrums
- Europe's housing dilemma
- The US experience
- Shared US/EU lessons
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