What went wrong with housing?
/We are still amazed (horrified) by this graph, from the independent research firm Global Financial Data.
They point out that the cost of UK housing in 1940 was lower in real terms than it was in 1340. Since then, housing has become eight times more costly, again in real terms.
It seems pretty clear that something started going badly wrong over the second half of the twentieth century. What was it?
