House price boom should be treated like national debt

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Not much time for blogging at the moment, but I thought I should flag this up now:

The National Institute for Economic and Social Research says in its latest journal that the surge in house prices is one “of the major adverse developments affecting the UK economy over the past 20 years”. The thinktank’s director, Martin Weale, says the rise has a similar effect to rising government debt because it transfers a burden to future generations.

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