If you can’t afford a house, a recession will help a lot more than building more homes
“When there’s dynamic demand, there’s just no way that increasing supply is going to all of a sudden reduce prices by 10, 15 or 20 per cent,” Mr. Clayton said. “The only way to do that is what happened back in the late latter 1980s and early ‘90s, and in the first half of the ‘70s – have a big recession, lose a lot of jobs.”
