Timmy ElsewhereNovember 16, 2009 Tim WorstallTimmy Elsewhere8 CommentsAt the ASI. Pointing out that one of the saving graces of capitalism is that it makes things cheap. previousComment of the day (so far)nextBritblog Roundup 248 8 thoughts on “Timmy Elsewhere” DBC Reed November 16, 2009 at 4:52 pm Only it does n’t make housing very cheap does it? Or,at least, the land underneath it.The one thing you can guarantee free markets will provide is high land and property prices, in the wide open spaces of Australia,in the closer confines of the UK.Everything else has to be cheap because after people have paid rents ,mortgages and the transport to get to dulce domum there’s not a lot left. DBC Reed November 16, 2009 at 4:53 pm BTW The clock’s wrong on your message timer. Ed November 16, 2009 at 6:55 pm The one thing you can guarantee free markets will provide is high land and property prices This is because: * we have a very restricted market in land * we undertax land ownership and overtax income and consumption. Even housing which seems so expensive has increased in quality so much that it is cheap by any long term comparison Increased in functionality, yes, but I’m not so sure about quality. For a nation obsessed by property, the design and quality of construction of so many modern homes leaves much to be desired. To take just one aspect, the standards on sound insulation are pathetic. AntiCitizenOne November 16, 2009 at 8:50 pm Ed, Right angles seem to totally fox modern builders too. DBC Reed November 16, 2009 at 10:14 pm British houses are comparatively small by European standards and getting comparatively smaller. Was n’t aware that we tax land, as such, at all. In the town centre where I live there is a deserted former factory site which has been undeveloped for, must be, fifty years.Time for LVT you’d think.Mais non,pas devant les domestiques. Winston November 16, 2009 at 10:21 pm DBC Reed, Re: the size of housing, would it not be true to say though that a disproportionately low number of people in the UK live in flats compared to in Europe? This seems to leave a lot more space to build bigger houses for those who do live in them. In Britain everyone must have some outdoor space of their own even if it is just the yard of a terraced house, our European neighbours don’t seem to share this obsession to the same extent. john malpas November 17, 2009 at 1:00 am If things are cheap why is so much of our money taken from us in the form of taxes? One might expect the government to take advantage of this cheapness. Us automatic stabilisers like to know these things. DBC Reed November 17, 2009 at 9:29 am There is a good account of comparative house sizes on Net: Googleable as Demographia Australia and USA have largest houses.Apparently our new houses are nearly as small as DDR flats built post-war. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.