Research Director of the Adam Smith Institute, Sam Bowman, was quoted in a City AM article regarding sky-rocketing housing prices in London, England.
Read the article here.
"This planning system is "the biggest cause of these runaway prices rises", says Bowman, and the solution is to cut it back.
"Unless the government liberalises planning radically to allow a huge amount of new house construction, house prices are likely to stay high for the foreseeable future," he says. As long as permits stay at rock bottom lows, then we can get used to prices that stop new buyers from getting on the property ladder."