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It can be said, one political reality that did not change through ages (see the Romans and beyond) is the natural rentier power. Would Henry George be surprised that we went so far?

The British housing market situation is saved (or rather magnified) by the Eastern European influx. But the situation back there in emerging markets is no less absurd. The free market was efficient only for so long. What could alleviate the housing stresses within the same paradigm?

Home ownership certainly means freedom, and excess home ownership means belonging to an unstated higher social cast. But you have to take mortgage risks to get there - and there go massive financial dramas.

by das monde on Fri Jun 3rd, 2011 at 01:54:48 AM EST

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