The housing crisis of ever rising prices and unaffordability can only be ended by a capitalist revolution in housing, argues leading architect Patrik Schumacher in a thinkpiece for the Adam Smith Institute.

Executive Summary:

Restrictive planning laws have led to enormous growth in London’s rental and house price to earnings ratios
Housing crisis is a failure of politics not markets and is the result of restrictive planning laws.
Government should resist calls to impose rent controls or mandatory long-term tenancies as they reduce supply and hamper labour mobility
Sadiq Khan’s plan to mandate that up to 50% of developments be “affordable” will discourage development and push up prices elsewhere
Micromanaging land uses creates high price distortions in our cities and should be abolished

To read the full essay, click here.