The Real Reason You Can't Afford a House

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Stop paying for GPT, Claude, and Gemini separately. 🙅‍♂️ Genspark puts them all in one workspace. One subscription. Three killer features: 🔍 Fact Check – 30 rounds of live verification with source proof 📝 AI Meeting Notes – Record on your phone, auto-share professional notes 🎨 AI Designer – Thumbnails, social graphics, anything you need New users get free credits. Paid subscribers get unlimited AI Chat + AI Image for 2026. Try Genspark today 👉https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyle04 @GensparkProduct #Genspark #ai #WorkWithGenspark A three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fallen by as much as a third in real terms, recent buyers were trapped in negative equity, and thousands of construction firms had gone under. In this video we look at how a national housing boom turns into a bust, why house prices became so unaffordable in the first place, and what it means for an economy when the family home stops being a place to live and becomes a leveraged investment. Along the way we cover the interest-rate math behind home affordability and why falling mortgage rates inflated prices for forty years, the politics of why governments keep house prices rising, why high housing costs drive young workers to emigrate, and the lessons from past property crashes in Japan, the United States, and Ireland. We also look at Henry George's argument for a land value tax, Edward Leamer's "Housing IS the Business Cycle," and why an efficient property market matters for the whole economy. Whether you're in the US, UK, Canada, Australia, or anywhere else watching house prices climb out of reach, the underlying dynamics are the same. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join