Why can't you afford a house?

Housing is a necessity for modern people, but property prices are rising steadily. Millennials cannot take advantage of the property market without relying on their fathers.

But why do property prices remain so high?

Some people say it is "insufficient supply", others say "too many immigrants", the author of this book, a top economist, Yu Shu. Lane-Collins boldly started from the economic concepts of "land" and "money" and proposed the theory of "finance-housing feedback loop": bank credit expands indefinitely, money flows into non-renewable and limited supply of land, pushing up property prices, and even more Turning housing from a "necessity for people's livelihood" into a bargaining chip for speculation; financial controls were further relaxed, and banks assembled mortgage loans into securities for public sale, tying the world into this cycle.

This operation made the economy highly indebted and fragile. The 2008 sub-prime crisis can be regarded as the Bad End of the financial-housing feedback loop. What is the historical and social environment that makes the national government and the general public willing to participate in this game of "musical chairs"? What reforms do we need to avoid the next wave of financial crises?

This lightweight book allows you to understand the functions of land, the history of home ownership, and how the financial sector and the government work together to solve public debt while promoting the unlimited increase in mortgage loans. Do you want to know why you can’t afford a house and your income can’t keep up with the property price? In addition to the false proposition that "the future generations cannot endure hardship", you need a more accurate and in-depth explanation provided by this book.