In comp.misc The Natural Philosopher  wrote:
> On 27/03/2021 18:40, TimS wrote:
>> On 27 Mar 2021 at 17:29:53 GMT, Charlie Gibbs 
>> wrote:
>>
>>> On 2021-03-27, The Natural Philosopher  wrote:
>>>
>>>>   Its rather a study of mine, actually.  My tentative observation
>>>>   is that those who advocate the purest form of Marxism are in
>>>>   fact simply showing a romantic fondness for the lifestyle of the
>>>>   hunter gatherer.  Before farming, before herding even, a
>>>>   population of at best a few million lived 'in harmony with
>>>>   nature' lacking even the idea of 'private property' let alone
>>>>   the hierarchies and the discipline that are necessary for large
>>>>   numbers of people to act in unison.
>>>
>>> This makes it particularly ironic that many societies that are
>>> appalled by Karl Marx's philosophy are adopting one of his
>>> fundamental tenets: the elimination of private property.  Housing
>>> prices are climbing so fast that soon none but the very richest
>>> will be able to afford their own home;
>>
>> In teh UK it's driven by population pressure, which has increased
>> from 50 to 65 million in the last 50 years.
>>
> House prices are climbing because of uber low interest rates

Exactly!  With interest rates near zero (reality is more like 3% after
the banks add back their profit taking) the bidding up of house prices
is effectively being done with "other peoples money".

> Put the base rate up to 15% and watch capital evaporate.

Yup.  And without fifteen buyers playing with almost free money to bid
the prices up, the rapid increase would halt overnight.

Sadly, however, given how many other aspects of the economy are now
hitched to the baloon of "house prices always increase" the effects of
withdrawl from the drug of "free money" will be painful to go through
(as any withdrawl from an addictive drug is).

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