Riddle me this. Enormous demand for housing, no supply. But not because there’s no land available, lots of…
Riddle me this. Enormous demand for housing, no supply. But not because there’s no land available, lots of those houses are sitting unfinished, unable to find a builder. Builders are going broke. The fantasies of the economy. /1
https://t.co/8P1ELMIcYE
Enormous thanks to Soheil Abedian for finally spilling the beans on this whole farce, from inside the industry itself. And in the process exposing the fantasy that the economy is. The supply/demand nonsense, markets etc. /2
https://t.co/KIVdi0Qi6z
As he describes so well, if you restrict that to just sale of houses, where there’s big demand and huge prices, it will look like there’s not enough supply. The PM has swallowed that rubbish from the property industry, all of them do. But that’s not the problem. /3
Everywhere along the chain of constructing the house has been making enormous money. Real estate agents, builders, owners selling houses, land owners, building suppliers, conveyancers etc. And they all want more, people always want more. /4
This is where the economy is exposed as a myth. All of this tight interconnection of multiple people and interests is a *social* phenomenon. The reason ‘lockdowns’ alarmed the economy people is because they exposed how profoundly, *socially* connected we all are. /5
The same people who peddle belief systems saying the individual is sovereign, and that markets are made up of billions of separate individuals. Now flattened by the scale of the social inter-connection between all of the elements of the supposed economy. /6
Look at the empirical evidence. Desperate demand for housing, but builders going broke, leaving houses unfinished. It’s not Ukraine, it’s not lockdowns. It’s an unregulated industry collapsing under the weight of what all lack of regulation produces - social hierarchy. /7
There is no economy, only a society. I don’t see us making that leap of understanding any time soon. But nothing will change until we do. We’ll follow the course of history, only the total catastrophic collapse of societies will trigger any change. One funeral at a time. /end