House prices could outstrip income for decades – David Miles
Former Bank of England policymaker says under “plausible” assumptions, real house prices can rise without limit
House price rises have outstripped income growth in the UK and other advanced economies for many years, and the trend could plausibly continue for the long term, David Miles said today (June 28).
The former Bank of England monetary policy committee member outlined the results of a model he has been working on, during remarks in London. The model combines information on the fixed land supply, rising population and changing technology of transport to assess what level could plausibly be called an
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