Unshackle Our Producers

Little more than a year ago our political and economic leaders were telling us we faced a prosperous future thanks to their superb management. Never mind that average house prices were the highest in the world at six times average annual earnings or twice that of the level in the U.S. Forget about the fact that buying a home now demands two income earners indentured for most of their working life and debt which would be unsupportable in any downturn. We would soon all be paper millionaires. As for potential risk, there wasn’t any. Real estate couldn’t ever go down because, “ ...they aren’t making any more of it. “ Safe as houses, really.