One of the first things you encounter on the syllabus for Economics 101 is the Paradox of Thrift. If everybody saves, aggregate demand falls and the economy shrinks to the point where this savings increase is wiped out as we all become poorer.

So what to make of this then - First Time Buyers must now save for 10 years to buy a house, 15 years in London, and no major sign of a major fall in house prices - yet. Is a crash coming??

https://www.which.co.uk/news/2019/04/first-time-buyers-face-decade-long-wait-to-save-a-mortgage-deposit/

Dr Hillary J. Shaw
Senior Research Fellow - Centre for Urban Research on Austerity
Department of Politics and Public Policy
De Montfort University, Leicester
LE1 9BH
http://dmu.ac.uk/about-dmu/academic-staff/business-and-law/hilary-shaw/hillary-shaw.aspx
www.fooddeserts.org


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