Existing homeowners can’t afford plummeting house prices. So we’ll build a glut of new ‘supply’, and those…

Existing homeowners can’t afford plummeting house prices. So we’ll build a glut of new ‘supply’, and those new homes will therefore be cheaper. Except the housing ‘market’ means that will cause the prices of all houses to plummet. 1/2 https://t.co/5I4cUhJFp9

‘Supply and demand’ is a social/political invention to pretend that societies will regulate themselves in the absence of government or other leadership. As you can see in this case, it’s complete BS under any sort of scrutiny at all. 2/2