Thursday 25 May 2017

Hard choices must be made to cope with housing crisis

Photo: Reuters
Photo: Reuters
Brendan Keenan

Brendan Keenan

If economics is the science of choices, politics may be said to be the science (or art) of making choices. In which case, the housing crisis poses the ultimate political challenge.

It might be better to say "housing crises". Several are occurring simultaneously. All are connected but all involve choices as between different interests and objectives.

There is the debt crisis, where so many home loans are in arrears. Lenders - especially, it is claimed, the new purchasers of loans, are seeking to seize their collateral and evict the mortgagees.

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