UK Housing: The nature of UK home ownership has changed dramatically in the past decade....That reflects two key related factors: i) the expensiveness of...

UK Housing: The nature of UK home ownership has changed dramatically in the past decade....That reflects two key related factors: i) the expensiveness of housing for low and middle income earners - and the resultant much reduced participation in the market by those income groups...; ii) the rise of property as an investment class in its own right and the ongoing rise of the private landlord market. As highlighted by Kindelberger, most bubbles share 3 common characteristics: i) cheap money and considerable indebtedness; ii) an expensive valuation; and iii) a convincing narrative. Property has all 3. .... My strong suspicion is something very similar could be spoken about Australian housing - more on that in the next fortnight. UK overview on attached video... (VIEW LINK)